Final Results - 5/7

Toyota Motor Corporation
08 May 2003

                    FY2003 Unconsolidated Financial Results

                     (April 1, 2002 through March 31, 2003)
  ( All financial information has been prepared in accordance with accounting
                    principles generally accepted in Japan)
        English translation from the original Japanese-language document


                                                                     May 8, 2003


Company name                                         : Toyota Motor Corporation
Stock exchanges on which the shares are listed       : Tokyo, Nagoya, Osaka, Fukuoka and Sapporo
                                                       Stock Exchanges in Japan
Code number                                          : 7203
Location of the head office                          : Aichi Prefecture
URL                                                  : http://www.toyota.co.jp
Representative                                       : Fujio Cho, President
Contact person                                       : Takahiko Ijichi, General Manager, Accounting Division
                                                       Tel. [phone]
Date of the meeting of the Board of Directors for    : Thursday, May 8, 2003
FY2003 financial results
Provision for interim cash dividends                 : Provision exists.
Date of the ordinary general meeting of shareholders : Thursday, June 26, 2003
Number of shares in unit share system                : 100 shares




1. Results of FY2003 (April 1, 2002 through March 31, 2003)

(1) Unconsolidated financial results

                 Net sales              Operating income              Ordinary income       
           Million yen        %         Million yen         %        Million yen         % 

FY2003       8,739,310    (5.5)             861,323    (15.0)            892,676    (16.1) 
FY2002       8,284,968    (4.8)             748,924    (47.8)            768,920    (23.7) 
 

                                                                                                                      
                  Net income           Net income    Net income per     Return on        Ratio of         Ratio of    
                                       per share         share           equity          ordinary         ordinary    
                                        - basic        - diluted                         income to      income to net 
                                                                                       total assets        sales      
           Million yen         %             Yen              Yen               %                %                % 

FY2003         634,059    (34.8)          178.12           178.12            11.2             10.5             10.2 
FY2002         470,239    (41.0)          128.56           128.56             8.3              9.2              9.3     



Note 1: Average number of shares issued and outstanding in each year: FY2003  
        3,555,613,073 shares, FY2002 3,657,658,522 shares

Note 2: Regarding net sales, operating income, ordinary income and net income, 
        the figures in parentheses show percentage of changes from the previous 
        year.




(2) Cash dividends

                Annual cash dividends per share         Total amount of      Dividends payout   Ratio of total amount 
                                                          annual cash             ratio            of dividends to    
                                                           dividends                            shareholders' equity  
                                 Interim Year-end                                                                       
                         Yen         Yen      Yen           Million yen                   %                       % 

FY2003                 36.00       16.00    20.00               125,833                19.8                     2.2 
FY2002                 28.00       13.00    15.00               101,522                21.6                     1.8 
 
 

(3) Unconsolidated financial position


                                                                                                                     
            Total assets    Shareholders' equity    Ratio of shareholders' equity    Shareholders' equity per share  
            Million yen             Million yen                                %                               Yen

FY2003        8,592,823               5,703,321                             66.4                          1,652.15 
FY2002        8,467,930               5,662,158                             66.9                          1,570.26 
 


Note 1: Number of shares issued and outstanding at the end of each year : FY2003  
        3,451,617,645 shares, FY2002 3,605,864,612 shares

Note 2: Number of treasury stock at the end of each year : FY2003 158,379,847 
        shares, FY 2002  44,132,880 shares



2. Unconsolidated estimate of results of FY2004 (April 1, 2003 through March 31, 2004)


                                                                                                                      
                                                                        Net sales    Ordinary income     Net income  
                                                                      Million yen        Million yen    Million yen  

FY2004 semi-annual (for six-month period ending September 30, 2003)     4,100,000            330,000        210,000 
FY2004                                                                  8,300,000            670,000        440,000 
 





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
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 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 affecting Toyota's automotive
operations, particularly laws, regulations and policies relating to
environmental protection, vehicle emissions, vehicle fuel economy and vehicle
safety, as well as changes in laws, regulations and government policies
affecting 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 the 'Operating and Financial
Review and Prospects' and 'Information on the Company' sections and elsewhere 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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