Final Results 2/10

Toyota Motor Corporation
10 May 2006

May 10, 2006

                      Highlights of Consolidated Financial Results
                                      for FY2006

                     (April 1, 2005 through March 31, 2006)

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)



                                                                       (Billion yen, unless otherwise specified)

                                      FY2005              FY2006                     FY2007 Forecast
                                (Apr. 2004 through  (Apr. 2005 through              (Apr. 2006 through
                                    Mar. 2005)          Mar. 2006)                      Mar. 2007)
                                                                        % of change                    % of change
                                                                        from FY2005                    from FY2006
Vehicle sales                                 7,408               7,974        7.6%              8,450        6.0%

(Thousand units)
Net revenues                               18,551.5            21,036.9       13.4%           22,300.0        6.0%
Operating income                            1,672.1             1,878.3       12.3%            1,900.0        1.2%

(Income ratio)                               (9.0%)              (8.9%)                         (8.5%)
Income before income taxes,                 1,754.6             2,087.3       19.0%            1,970.0       -5.6%
minority interest and equity in
earnings of affiliated                       (9.5%)              (9.9%)                         (8.8%)
companies

(Income ratio)
Net income                                  1,171.2             1,372.1       17.2%            1,310.0       -4.5%

(Income ratio)                               (6.3%)              (6.5%)                         (5.9%)

Factors contributing to                              Operating income increased by
increases and decreases in                                 206.2 billion yen
operating income                                    (Increase)
                                                    Effects of changes in
                                                    exchange rates            300.0
                                                    Marketing efforts         240.0
                                                    Cost reduction            130.0
                                                    efforts



                                                    (Decrease)
                                                    Decrease in the gains
                                                    recognized on the
                                                    transfer of the
                                                    substitutional
                                                    portion of the
                                                    employee pension fund
                                                    to the Government
                                                    Increases in expense      -47.2
                                                                             -416.6

Exchange rates                           JPY108/US$           JPY113/US$                                JPY110/US$
                                        JPY135/Euro           JPY138/Euro                              JPY135/Euro

Capital expenditure                         1,087.2             1,528.8                                    1,550.0
(excluding leased assets)
Depreciation expenses                         775.8               891.4                                      930.0

R&D expenses                                  755.1               812.6                                      920.0

Performance evaluation                              Increases in net revenues,
                                                    operating income, income before
                                                    income taxes, minority interest
                                                    and equity in earnings of
                                                    affiliated companies, and net
                                                    income, all reached historic
                                                    highs.

Number of employees                         265,753            285,977

Note: Toyota prepares its consolidated financial statements in accordance with
accounting principles generally accepted in the United States of America.


Cautionary Statement with Respect to Forward-Looking Statements


This report contains forward-looking statements that reflect Toyota's plans and
expectations.  These forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and other factors
that may cause Toyota's actual results, performance, achievements or financial
position to be materially different from any future results, performance,
achievements or financial position expressed or implied by these forward-looking
statements.  These factors include: (i) changes in economic conditions and
market demand affecting, and the competitive environment in, the automotive
markets in Japan, North America, Europe and other markets in which Toyota
operates; (ii) fluctuations in currency exchange rates, particularly with
respect to the value of the Japanese yen, the U.S. dollar, the Euro, the
Australian dollar and the British pound; (iii) Toyota's ability to realize
production efficiencies and to implement capital expenditures at the levels and
times planned by management; (iv) changes in the laws, regulations and
government policies in the markets in which Toyota operates that affect Toyota's
automotive operations, particularly laws, regulations and policies relating to
trade, environmental protection, vehicle emissions, vehicle fuel economy and
vehicle safety, as well as changes in laws, regulations and government policies
that affect Toyota's other operations, including the outcome of future
litigation and other legal proceedings; (v) political instability in the markets
in which Toyota operates; (vi) Toyota's ability to timely develop and achieve
market acceptance of new products; and (vii) fuel shortages or interruptions in
transportation systems, labor strikes, work stoppages or other interruptions to,
or difficulties in, the employment of labor in the major markets where Toyota
purchases materials, components and supplies for the production of its products
or where its products are produced, distributed or sold.

A discussion of these and other factors which may affect Toyota's actual
results, performance, achievements or financial position is contained in
Toyota's annual report on Form 20-F, which is on file with the United States
Securities and Exchange Commission.



                                                                   May 10, 2006

                               Highlights of Unconsolidated Financial
                                         Results for FY2006
                               (April 1, 2005 through March 31, 2006)

   (All financial information has been prepared in accordance with accounting
                    principles generally accepted in Japan)



                                                                        (Billion yen, unless otherwise specified)

                             FY2005                     FY2006                          FY2007 Forecast
                           (Apr. 2004       (Apr. 2005 through Mar. 2006)        (Apr. 2006 through Mar. 2007)
                             through       FY2006                                 FY2007
                           Mar. 2005)   semi-annual                            semi-annual
                                         (Apr. 2005                             (Apr. 2006
                                        through Sep.                           through Sep.
                                           2005)                                  2006)
                                                                       % of                              % of
                                                                      change                            change
                                                                       from                              from
                                                                      FY2005                            FY2006
Domestic vehicle                  3,749        1,798          3,863       3.0%        2,000     4,100       6.1%
production
(Thousand units)

Overseas vehicle                  3,127        1,824          3,731      19.3%        1,990     4,060       8.8%
production

(Thousand units)
Domestic vehicle sales            1,805          806          1,769     - 1.9%          820     1,780       0.6%

(Thousand units)
Exports                           1,982        1,002          2,126       7.3%        1,180     2,350      10.5%

(Thousand units)
Houses                            4,392        2,055          4,693       6.9%        2,400     5,000       6.5%

(Units)
Net sales                       9,218.3      4,664.0       10,191.8      10.6%      5,200.0  11,000.0       7.9%

Domestic                        3,654.9      1,671.7        3,679.8       0.7%

Export                          5,563.4      2,992.2        6,511.9      17.0%
Operating income                  701.3        297.6          847.9      20.9%        370.0     880.0       3.8%

(Income ratio)                   (7.6%)       (6.4%)         (8.3%)                  (7.1%)    (8.0%)
Ordinary income                   856.2        416.6        1,104.7      29.0%        560.0   1,230.0      11.3%

(Income ratio)                   (9.3%)       (8.9%)        (10.8%)                 (10.8%)   (11.2%)
Income before income              831.2        416.6        1,104.7      32.9%        560.0   1,230.0      11.3%
taxes
                                 (9.0%)       (8.9%)        (10.8%)                 (10.8%)   (11.2%)
(Income ratio)
Net income                        529.3        283.6          765.9      44.7%        380.0     850.0      11.0%

(Income ratio)                   (5.7%)       (6.1%)         (7.5%)                  (7.3%)    (7.7%)

Factors contributing to                 Operating income increased by          Operating income is expected to
increases and decreases                                                        increase by 32.1 billion yen.
in operating income                     146.6 billion yen.
                                        (Increase)                             (Increase)
                                        Effects of changes in            250.0 Marketing efforts           210.0
                                        exchange rates                         Cost reduction efforts       80.0
                                        Cost reduction efforts            60.0
                                        Marketing efforts                 40.0 (Decrease)
                                                                               Effects of changes in     - 200.0
                                        (Decrease)                             exchange rates
                                        Increases in R&D              - 203.4  Increases in R&D           - 57.9
                                        expenses, etc.                         expenses, etc.

Exchange rates               JPY108/US$      JPY110/US$         JPY113/US$          JPY110/US$       JPY110/US$
                             JPY135/Euro    JPY136/Euro        JPY138/Euro          JPY135/Euro      JPY135/Euro

Capital expenditure               290.7        152.2              351.5               180.0           390.0
Depreciation expenses             241.3        126.0              298.3               140.0           280.0
R&D expenses                      657.9        322.5              704.5               390.0           810.0
Interest-bearing debt             500.6        500.0              500.0

Performance evaluation                                    Increases in sales,
                                                       ordinary income, and net
                                                          income, all reached
                                                            historic highs.

Number of employees              64,237       65,994             65,798


Cautionary Statement with Respect to Forward-Looking Statements



This report contains forward-looking statements that reflect Toyota's plans and
expectations.  These forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and other factors
that may cause Toyota's actual results, performance, achievements or financial
position to be materially different from any future results, performance,
achievements or financial position expressed or implied by these forward-looking
statements.  These factors include: (i) changes in economic conditions and
market demand affecting, and the competitive environment in, the automotive
markets in Japan, North America, Europe and other markets in which Toyota
operates; (ii) fluctuations in currency exchange rates, particularly with
respect to the value of the Japanese yen, the U.S. dollar, the Euro, the
Australian dollar and the British pound; (iii) Toyota's ability to realize
production efficiencies and to implement capital expenditures at the levels and
times planned by management; (iv) changes in the laws, regulations and
government policies in the markets in which Toyota operates that affect Toyota's
automotive operations, particularly laws, regulations and policies relating to
trade, environmental protection, vehicle emissions, vehicle fuel economy and
vehicle safety, as well as changes in laws, regulations and government policies
that affect Toyota's other operations, including the outcome of future
litigation and other legal proceedings; (v) political instability in the markets
in which Toyota operates; (vi) Toyota's ability to timely develop and achieve
market acceptance of new products; and (vii) fuel shortages or interruptions in
transportation systems, labor strikes, work stoppages or other interruptions to,
or difficulties in, the employment of labor in the major markets where Toyota
purchases materials, components and supplies for the production of its products
or where its products are produced, distributed or sold.

A discussion of these and other factors which may affect Toyota's actual
results, performance, achievements or financial position is contained in
Toyota's annual report on Form 20-F, which is on file with the United States
Securities and Exchange Commission.








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