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EX-99.1 2 d593959dex991.htm FY2024 THIRD QUARTER FINANCIAL SUMMARY FY2024 Third Quarter Financial Summary

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with International Financial Reporting Standards)

FY2024 Third Quarter

(April 1, 2023 through December 31, 2023)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2024 Third Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with International Financial Reporting Standards)

English translation from the original Japanese-language document

February 6, 2024


Company name	:	Toyota Motor Corporation
Stock exchanges on which the shares are listed	:	Tokyo and Nagoya Stock Exchanges in Japan
Code number	:	7203
URL	:	https://global.toyota/jp/
Representative	:	Koji Sato, President
Contact person	:	Hideaki Hayashi, General Manager, Accounting Division Tel. (0565)28-2121
Filing date of quarterly securities report	:	February 13, 2024
Payment date of cash dividends	:	—
Supplemental materials prepared for quarterly financial results	:	yes
Earnings announcement for quarterly financial results	:	yes

(Amounts are rounded to the nearest million yen)

1.	Consolidated Results for FY2024 First nine months (April 1, 2023 through December 31, 2023)

(1)	Consolidated financial results (For the nine months ended December 31)


	(% of change from previous first nine months)
	Sales revenues				Operating income				Income before income taxes				Net income				Net income attributable to Toyota Motor Corporation				Comprehensive income
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Million yen		%		Million yen		%
FY2024 first nine months		34,022,720		23.9		4,240,238		102.1		5,357,065		86.7		4,031,624		105.3		3,947,242		107.9		5,415,334		123.4
FY2023 first nine months		27,464,033		18.0		2,098,095		-17.1		2,869,274		-11.4		1,964,122		-17.6		1,899,026		-18.0		2,424,351		-8.0


	Earnings per share attributable to Toyota Motor Corporation – Basic		Earnings per share attributable to Toyota Motor Corporation – Diluted
	Yen		Yen
FY2024 first nine months		291.87		291.87
FY2023 first nine months		138.78		138.78

(2)	Consolidated financial position


	Total assets		Total shareholders’ equity		Toyota Motor Corporation shareholders’ equity		Ratio of Toyota Motor Corporation shareholders’ equity
	Million yen		Million yen		Million yen		%
FY2024 third quarter		84,232,154		33,523,966		32,561,697		38.7
FY2023		74,303,180		29,264,213		28,338,706		38.1

2.	Cash Dividends


	Annual cash dividends per common share
	End of first quarter		End of second quarter		End of third quarter		Year-end		Total
	Yen		Yen		Yen		Yen		Yen
FY2023		—		25.00		—		35.00		60.00
FY2024		—		30.00		—
FY2024 (forecast)								—		—


(Note)		Revisions to the forecast of cash dividends since the latest announcement: none

3.	Forecast of Consolidated Results for FY2024 (April 1, 2023 through March 31, 2024)


	(% of change from FY2023)
	Sales revenues			Operating income			Income before income taxes			Net income attributable to Toyota Motor Corporation			Earnings per share attributable to Toyota Motor Corporation – Basic
	Million yen	%		Million yen	%		Million yen	%		Million yen	%		Yen
Full-year	43,500,000		17.1	4,900,000		79.8	6,200,000		69.0	4,500,000		83.6	332.97


(Note)		Revisions to the forecast of consolidated results since the latest announcement: yes

Notes

(1)	Changes in significant subsidiaries during the current quarter

(Changes in specified subsidiaries that caused a change in the scope of consolidation): none

(2)	Changes in accounting policies and changes in accounting estimates

(i)

Changes in accounting policies required by IFRS: none

(ii)

Changes other than (2)-(i) above: none

(iii)

Changes in accounting estimates: none

(3)	Number of shares issued and outstanding (common stock)

(i)

Number of shares issued and outstanding at the end of each period (including treasury stock): FY2024 third quarter 16,314,987,460 shares, FY2023 16,314,987,460 shares

(ii)

Number of treasury stock at the end of each period: FY2024 third quarter 2,829,136,593 shares, FY2023 2,749,807,731 shares

(iii)

Average number of shares issued and outstanding in each period: FY2024 first nine months 13,524,128,807 shares, FY2023 first nine months 13,684,168,898 shares

These consolidated financial results are not subject to certified public accountant’s or audit firm’s quarterly review.

Cautionary Statement with Respect to Forward-Looking Statements, and Other Information

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, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia 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, the Canadian dollar and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) 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 government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies, as well as information security; (xiii) fuel shortages or interruptions in electricity, 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; (xiv) the impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social infrastructure, wars, terrorism and labor strikes, including their negative effect on Toyota’s vehicle production and sales; (xv) the impact of climate change and the transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources.

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.

In order to convey top management’s aspirations and the company’s direction to all those whose lives are touched by Toyota, Toyota communicates what Toyota is really like through “Toyota Times.”

“Toyota Times” (https://toyotatimes.jp/en/)

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

TABLE OF CONTENTS


Unaudited Condensed Quarterly Consolidated Financial Statements and Notes to Unaudited Condensed Quarterly Consolidated Financial Statements			2
1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position			2
2. Unaudited Condensed Quarterly Consolidated Statement of Income and Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income			4
3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity			8
4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows			9
5. Going Concern Assumption			10

Supplemental Material for Financial Results for FY2024 Third Quarter

—1—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Financial Statements and

Notes to Unaudited Condensed Quarterly Consolidated Financial Statements

1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position


	Yen in millions
	March 31, 2023			December 31, 2023
Assets
Current assets
Cash and cash equivalents		7,516,966			7,583,154
Trade accounts and other receivables		3,586,130			3,818,470
Receivables related to financial services		8,279,806			10,426,656
Other financial assets		1,715,675			4,650,916
Inventories		4,255,614			4,294,143
Income tax receivable		218,704			133,032
Other current assets		886,885			948,347

Total current assets		26,459,781			31,854,717

Non-current assets
Investments accounted for using the equity method		5,227,345			5,641,846
Receivables related to financial services		16,491,045			19,124,065
Other financial assets		10,556,431			10,923,018
Property, plant and equipment
Land		1,426,370			1,433,969
Buildings		5,464,811			5,652,447
Machinery and equipment		14,796,619			15,681,350
Vehicles and equipment on operating leases		6,774,427			7,201,656
Construction in progress		846,866			950,517

Total property, plant and equipment, at cost		29,309,093			30,919,939

Less - Accumulated depreciation and impairment losses		(16,675,119	)		(17,495,241	)

Total property, plant and equipment, net		12,633,974			13,424,699

Right of use assets		491,368			498,026
Intangible assets		1,249,122			1,321,958
Deferred tax assets		387,427			460,503
Other non-current assets		806,687			983,322

Total non-current assets		47,843,399			52,377,437

Total assets		74,303,180			84,232,154

—2—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary


	Yen in millions
	March 31, 2023			December 31, 2023
Liabilities
Current liabilities
Trade accounts and other payables		4,986,309			4,909,386
Short-term and current portion of long-term debt		12,305,639			14,703,717
Accrued expenses		1,552,345			1,607,868
Other financial liabilities		1,392,397			1,525,810
Income taxes payable		404,606			723,123
Liabilities for quality assurance		1,686,357			1,806,249
Other current liabilities		1,632,063			1,796,656

Total current liabilities		23,959,715			27,072,808

Non-current liabilities
Long-term debt		17,074,634			19,256,186
Other financial liabilities		533,710			480,470
Retirement benefit liabilities		1,065,508			1,115,974
Deferred tax liabilities		1,802,346			2,071,268
Other non-current liabilities		603,052			711,481

Total non-current liabilities		21,079,251			23,635,380

Total liabilities		45,038,967			50,708,188

Shareholders’ equity
Common stock		397,050			397,050
Additional paid-in capital		498,728			494,286
Retained earnings		28,343,296			31,726,790
Other components of equity		2,836,195			3,871,068
Treasury stock		(3,736,562	)		(3,927,497	)

Total Toyota Motor Corporation shareholders’ equity		28,338,706			32,561,697

Non-controlling interests		925,507			962,269

Total shareholders’ equity		29,264,213			33,523,966

Total liabilities and shareholders’ equity		74,303,180			84,232,154

—3—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

2. Unaudited Condensed Quarterly Consolidated Statement of Income and

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Unaudited Condensed Quarterly Consolidated Statement of Income


	Yen in millions
	For the first nine months ended December 31, 2022			For the first nine months ended December 31, 2023
Sales revenues
Sales of products		25,383,850			31,511,767
Financial services		2,080,183			2,510,953

Total sales revenues		27,464,033			34,022,720

Costs and expenses
Cost of products sold		21,435,002			25,345,445
Cost of financial services		1,280,860			1,559,145
Selling, general and administrative		2,650,076			2,877,893

Total costs and expenses		25,365,938			29,782,483

Operating income		2,098,095			4,240,238

Share of profit (loss) of investments accounted for using the equity method		474,716			596,181
Other finance income		307,518			544,304
Other finance costs		(108,313	)		(78,752	)
Foreign exchange gain (loss), net		128,375			55,334
Other income (loss), net		(31,118	)		(239	)

Income before income taxes		2,869,274			5,357,065

Income tax expense		905,153			1,325,441

Net income		1,964,122			4,031,624

Net income attributable to
Toyota Motor Corporation		1,899,026			3,947,242
Non-controlling interests		65,096			84,382

Net income		1,964,122			4,031,624


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted		138.78			291.87

—4—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the first nine months ended December 31, 2022			For the first nine months ended December 31, 2023
Net income		1,964,122			4,031,624
Other comprehensive income, net of tax
Items that will not be reclassified to profit (loss)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(29,503	)		361,529
Remeasurements of defined benefit plans		(12,242	)		(8,170	)
Share of other comprehensive income of equity method investees		(109,051	)		197,931

Total of items that will not be reclassified to profit (loss)		(150,797	)		551,290

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		529,140			603,550
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(170,000	)		47,605
Share of other comprehensive income of equity method investees		251,886			181,264

Total of items that may be reclassified subsequently to profit (loss)		611,026			832,420

Total other comprehensive income, net of tax		460,229			1,383,710

Comprehensive income		2,424,351			5,415,334

Comprehensive income for the period attributable to
Toyota Motor Corporation		2,353,007			5,298,565
Non-controlling interests		71,344			116,769

Comprehensive income		2,424,351			5,415,334

—5—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Income


	Yen in millions
	For the third quarter ended December 31, 2022			For the third quarter ended December 31, 2023
Sales revenues
Sales of products		9,019,920			11,128,325
Financial services		734,765			912,778

Total sales revenues		9,754,685			12,041,104

Costs and expenses
Cost of products sold		7,385,754			8,802,750
Cost of financial services		435,638			553,063
Selling, general and administrative		976,641			1,004,347

Total costs and expenses		8,798,033			10,360,160

Operating income		956,652			1,680,944

Share of profit (loss) of investments accounted for using the equity method		170,093			217,651
Other finance income		110,164			206,364
Other finance costs		(37,963	)		(34,452	)
Foreign exchange gain (loss), net		(163,080	)		(244,042	)
Other income (loss), net		(868	)		9,075

Income before income taxes		1,034,998			1,835,540

Income tax expense		290,432			451,437

Net income		744,566			1,384,103

Net income attributable to
Toyota Motor Corporation		727,942			1,357,814
Non-controlling interests		16,624			26,289

Net income		744,566			1,384,103


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted		53.40			100.62

—6—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the third quarter ended December 31, 2022			For the third quarter ended December 31, 2023
Net income		744,566			1,384,103
Other comprehensive income, net of tax
Items that will not be reclassified to profit (loss)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(55,682	)		(15,089	)
Remeasurements of defined benefit plans		(3,546	)		(2,969	)
Share of other comprehensive income of equity method investees		(28,947	)		19,116

Total of items that will not be reclassified to profit (loss)		(88,175	)		1,058

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		(714,507	)		(340,565	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		13,228			111,982
Share of other comprehensive income of equity method investees		14,675			13,370

Total of items that may be reclassified subsequently to profit (loss)		(686,605	)		(215,213	)

Total other comprehensive income, net of tax		(774,780	)		(214,155	)

Comprehensive income		(30,214	)		1,169,948

Comprehensive income for the period attributable to
Toyota Motor Corporation		(18,411	)		1,152,843
Non-controlling interests		(11,803	)		17,105

Comprehensive income		(30,214	)		1,169,948

—7—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity

For the first nine months ended December 31, 2022


	Yen in millions
	Common stock		Additional paid-in capital			Retained earnings			Other components of equity			Treasury stock			Toyota Motor Corporation shareholders’ equity			Non- controlling interests			Total shareholders’ equity
Balances at April 1, 2022		397,050		498,575			26,453,126			2,203,254			(3,306,037	)		26,245,969			908,851			27,154,820

Comprehensive income
Net income		—		—			1,899,026			—			—			1,899,026			65,096			1,964,122
Other comprehensive income, net of tax		—		—			—			453,981			—			453,981			6,248			460,229

Total comprehensive income		—		—			1,899,026			453,981			—			2,353,007			71,344			2,424,351

Transactions with owners and other
Dividends paid		—		—			(727,980	)		—			—			(727,980	)		(84,573	)		(812,552	)
Repurchase of treasury stock		—		—			—			—			(336,577	)		(336,577	)		—			(336,577	)
Reissuance of treasury stock		—		334			—			—			573			907			—			907
Equity transactions and other		—		499			—			—			—			499			18,575			19,074

Total transactions with owners and other		—		833			(727,980	)		—			(336,004	)		(1,063,151	)		(65,997	)		(1,129,148	)

Reclassification to retained earnings		—		—			72,019			(72,019	)		—			—			—			—

Balances at December 31, 2022		397,050		499,408			27,696,192			2,585,216			(3,642,041	)		27,535,825			914,198			28,450,023

For the first nine months ended December 31, 2023
	Yen in millions
	Common stock		Additional paid-in capital			Retained earnings			Other components of equity			Treasury stock			Toyota Motor Corporation shareholders’ equity			Non- controlling interests			Total shareholders’ equity
Balances at April 1, 2023		397,050		498,728			28,343,296			2,836,195			(3,736,562	)		28,338,706			925,507			29,264,213

Comprehensive income
Net income		—		—			3,947,242			—			—			3,947,242			84,382			4,031,624
Other comprehensive income, net of tax		—		—			—			1,351,323			—			1,351,323			32,387			1,383,710

Total comprehensive income		—		—			3,947,242			1,351,323			—			5,298,565			116,769			5,415,334

Transactions with owners and other
Dividends paid		—		—			(880,197	)		—			—			(880,197	)		(89,298	)		(969,494	)
Repurchase of treasury stock		—		—			—			—			(191,584	)		(191,584	)		—			(191,584	)
Reissuance of treasury stock		—		263			—			—			649			911			—			911
Equity transactions and other		—		(4,704	)		—			—			—			(4,704	)		9,290			4,586

Total transactions with owners and other		—		(4,442	)		(880,197	)		—			(190,935	)		(1,075,573	)		(80,008	)		(1,155,581	)

Reclassification to retained earnings		—		—			316,450			(316,450	)		—			—			—			—

Balances at December 31, 2023		397,050		494,286			31,726,790			3,871,068			(3,927,497	)		32,561,697			962,269			33,523,966

—8—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows


	Yen in millions
	For the first nine months ended December 31, 2022			For the first nine months ended December 31, 2023
Cash flows from operating activities
Net income		1,964,122			4,031,624
Depreciation and amortization		1,534,759			1,535,393
Interest income and interest costs related to financial services, net		(534,217	)		(564,332	)
Share of profit (loss) of investments accounted for using the equity method		(474,716	)		(596,181	)
Income tax expense		905,153			1,325,441
Changes in operating assets and liabilities, and other		(1,432,634	)		(3,340,602	)
Interest received		1,082,133			1,620,707
Dividends received		459,340			581,452
Interest paid		(401,044	)		(775,664	)
Income taxes paid, net of refunds		(1,276,972	)		(1,031,698	)

Net cash provided by (used in) operating activities		1,825,923			2,786,141

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(1,095,573	)		(1,242,206	)
Additions to equipment leased to others		(1,406,217	)		(2,048,034	)
Proceeds from sales of fixed assets excluding equipment leased to others		35,211			77,716
Proceeds from sales of equipment leased to others		1,261,624			1,445,164
Additions to intangible assets		(253,581	)		(234,748	)
Additions to public and corporate bonds and stocks		(1,104,568	)		(1,926,369	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds		941,742			1,783,141
Other, net		107,768			(2,084,792	)

Net cash provided by (used in) investing activities		(1,513,593	)		(4,230,129	)

Cash flows from financing activities
Increase (decrease) in short-term debt		222,629			486,043
Proceeds from long-term debt		6,591,101			8,410,408
Payments of long-term debt		(6,161,781	)		(6,112,456	)
Dividends paid to Toyota Motor Corporation common shareholders		(727,980	)		(880,197	)
Dividends paid to non-controlling interests		(84,573	)		(89,298	)
Reissuance (repurchase) of treasury stock		(336,577	)		(191,584	)
Other, net		—			11,544

Net cash provided by (used in) financing activities		(497,181	)		1,634,461

Effect of exchange rate changes on cash and cash equivalents		93,285			(124,286	)

Net increase (decrease) in cash and cash equivalents		(91,566	)		66,188

Cash and cash equivalents at beginning of period		6,113,655			7,516,966

Cash and cash equivalents at end of period		6,022,089			7,583,154

—9—

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

5. Going Concern Assumption

None

—10—

Supplemental Material for Financial Results for FY2024 Third Quarter (Consolidated)

< IFRS >


	FY2023																		FY2024												FY2024
	1Q (2022/4-6)			2Q (2022/7-9)			3Q (2022/10-12)			9 months (2022/4-12)			4Q (2023/1-3)			12 months (‘22/4-‘23/3)			1Q (2023/4-6)			2Q (2023/7-9)			3Q (2023/10-12)			9 months (2023/4-12)			Forecast 12 months (‘23/4-‘24/3)
Vehicle Production (thousands of units)		1,936			2,179			2,243			6,358			2,336			8,694			2,345			2,379			2,444			7,168
(Japan) –including Daihatsu & Hino		802			934			975			2,711			1,078			3,789			1,025			1,090			1,115			3,230
[Daihatsu & Hino]		[208	]		[240	]		[285	]		[733	]		[269	]		[1,002	]		[190	]		[232	]		[247	]		[669	]
(Overseas) –including Daihatsu & Hino		1,135			1,245			1,268			3,647			1,258			4,905			1,321			1,289			1,328			3,939
[Daihatsu & Hino]		[121	]		[157	]		[164	]		[441	]		[156	]		[597	]		[118	]		[139	]		[134	]		[391	]
North America		452			460			415			1,328			441			1,768			520			482			475			1,477
Europe		201			183			210			595			176			771			223			161			238			622
Asia		372			468			510			1,350			508			1,859			437			498			489			1,423
Central and South America		104			105			95			303			95			398			102			105			91			298
Africa		5			28			38			71			38			109			39			44			35			118
Vehicle Sales (thousands of units)		2,013			2,146			2,331			6,491			2,331			8,822			2,326			2,418			2,551			7,295			9,450
(Japan) –including Daihatsu & Hino		403			466			532			1,402			668			2,069			532			540			558			1,630			2,120
[Daihatsu & Hino]		[126	]		[144	]		[169	]		[439	]		[182	]		[621	]		[134	]		[141	]		[154	]		[429	]		[470	]
(Overseas) –including Daihatsu & Hino		1,610			1,680			1,799			5,089			1,664			6,753			1,794			1,878			1,993			5,665			7,330
[Daihatsu & Hino]		[68	]		[78	]		[92	]		[238	]		[83	]		[321	]		[69	]		[74	]		[64	]		[207	]		[280	]
North America		635			610			607			1,852			555			2,407			682			703			776			2,161			2,760
Europe		248			231			277			757			273			1,030			286			270			327			884			1,170
Asia		361			456			476			1,293			458			1,751			417			478			480			1,376			1,760
Central and South America		123			128			144			394			115			509			128			126			120			374			480
Oceania		76			67			68			210			54			265			76			87			80			244			310
Africa		36			61			68			164			61			226			59			62			55			175			270
Middle East		130			126			157			413			145			559			143			149			151			443			580
Other		2			2			2			5			2			7			3			2			3			8
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		2,544			2,625			2,721			7,889			2,669			10,558			2,751			2,845			2,968			8,564			11,230

Supplemental 1

Supplemental Material for Financial Results for FY2024 Third Quarter (Consolidated)

< IFRS >


	FY2023																		FY2024												FY2024
	1Q (2022/4-6)			2Q (2022/7-9)			3Q (2022/10-12)			9 months (2022/4-12)			4Q (2023/1-3)			12 months (‘22/4-‘23/3)			1Q (2023/4-6)			2Q (2023/7-9)			3Q (2023/10-12)			9 months (2023/4-12)			Forecast 12 months (‘23/4-‘24/3)
Foreign Exchange Rates
Yen to US Dollar Rate		130			138			141			136			132			135			137			145			148			143			as premise:143
Yen to Euro Rate		138			139			144			141			142			141			150			157			159			155			as premise:154
Number of Employees		376,971			377,369			375,396			375,396			375,235			375,235			379,659			381,576			380,737			380,737	^(Note 1)
Sales Revenues (billions of yen)		8,491.1			9,218.2			9,754.6			27,464.0			9,690.2			37,154.2			10,546.8			11,434.7			12,041.1			34,022.7			43,500.0
Geographic Information
Japan		3,899.7			4,290.1			4,582.2			12,772.1			4,811.0			17,583.1			5,105.5			5,404.7			5,626.8			16,137.2
North America		3,349.9			3,523.6			3,588.9			10,462.4			3,381.4			13,843.9			4,092.0			4,504.2			4,958.1			13,554.3
Europe		973.0			939.3			1,155.6			3,068.0			1,205.6			4,273.7			1,299.0			1,359.4			1,520.7			4,179.2
Asia		1,795.6			2,153.3			2,183.9			6,133.0			1,911.9			8,044.9			1,964.5			2,346.6			2,371.3			6,682.5
Other		828.7			907.5			907.1			2,643.4			828.7			3,472.1			1,024.6			1,165.1			974.0			3,163.7
Elimination		-2,355.9			-2,595.8			-2,663.2			-7,615.0			-2,448.5			-10,063.6			-2,939.0			-3,345.3			-3,410.0			-9,694.4
Business Segment
Automotive		7,720.1			8,408.9			8,871.4			25,000.5			8,819.4			33,820.0			9,687.9			10,477.3			11,065.7			31,231.0
Financial Services		652.1			704.2			741.7			2,098.1			711.5			2,809.6			775.1			846.1			922.3			2,543.7
All Other		262.3			271.0			312.2			845.6			379.2			1,224.9			306.4			319.2			357.4			983.1
Elimination		-143.4			-166.0			-170.6			-480.2			-220.0			-700.2			-222.7			-207.9			-304.4			-735.2
Operating Income (billions of yen)		578.6			562.7			956.6			2,098.0			626.9			2,725.0			1,120.9			1,438.3			1,680.9			4,240.2			4,900.0
(Operating Income Ratio) (%)		(6.8	)		(6.1	)		(9.8	)		(7.6	)		(6.5	)		(7.3	)		(10.6	)		(12.6	)		(14.0	)		(12.5	)		(11.3	)
Geographic Information
Japan		336.7			521.1			683.4			1,541.3			360.1			1,901.4			701.9			879.1			1,104.1			2,685.1
North America		14.5			-85.6			-17.9			-89.0			14.2			-74.7			119.6			169.4			227.4			516.5
Europe		19.6			-65.5			62.6			16.7			40.7			57.4			83.0			99.3			103.1			285.5
Asia		212.7			178.9			168.7			560.3			154.0			714.4			186.2			224.9			238.4			649.6
Other		45.8			64.0			66.1			176.0			55.3			231.3			85.4			104.2			9.2			198.9
Elimination		-50.8			-50.1			-6.3			-107.3			2.3			-104.9			-55.4			-38.7			-1.5			-95.6
Business Segment
Automotive		449.2			453.7			818.8			1,721.7			458.8			2,180.6			945.6			1,301.6			1,472.6			3,719.9
Financial Services		114.5			84.4			125.0			323.9			113.5			437.5			147.2			97.6			172.0			416.9
All Other		18.3			20.3			18.4			57.1			46.2			103.4			40.2			39.5			44.1			123.9
Elimination		-3.4			4.3			-5.7			-4.8			8.3			3.4			-12.2			-0.4			-7.9			-20.6
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of yen)		171.0			133.5			170.0			474.7			168.3			643.0			193.3			185.1			217.6			596.1			740.0
Income before Income Taxes (billions of yen)		1,021.7			812.5			1,034.9			2,869.2			799.4			3,668.7			1,720.5			1,800.9			1,835.5			5,357.0			6,200.0
(Income before Income Taxes Ratio) (%)		(12.0	)		(8.8	)		(10.6	)		(10.4	)		(8.3	)		(9.9	)		(16.3	)		(15.7	)		(15.2	)		(15.7	)		(14.3	)
Net Income Attributable toToyota Motor Corporation (billions of yen)		736.8			434.2			727.9			1,899.0			552.2			2,451.3			1,311.3			1,278.0			1,357.8			3,947.2			4,500.0
(Net Income Ratio) (%)		(8.7	)		(4.7	)		(7.5	)		(6.9	)		(5.7	)		(6.6	)		(12.4	)		(11.2	)		(11.3	)		(11.6	)		(10.3	)
Dividends
Cash Dividends (billions of yen)		—			342.1			—			342.1			474.7			816.9			—			405.4			—			405.4	^(Note 2)
Cash Dividends per Share (yen)		—			25			—			25			35			60			—			30			—			30
Payout Ratio (%)		—			29.2			—			29.2			37.1			33.4			—			15.6			—			15.6
Value of Shares Repurchased (billions of yen)[actual purchase]		121.3			74.2			141.0			336.5			94.5			431.0			34.3			82.1			75.0			191.5	^(Note 3)
Value of Shares Repurchased (billions of yen)[shareholder return]		—			149.9			—			149.9			149.9			299.9			—			100.0			—			100.0	^{(Note 3) (Note 4)}
Number of Outstanding Shares (thousands)		16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987

Supplemental 2

Supplemental Material for Financial Results for FY2024 Third Quarter (Consolidated)

< IFRS >


	FY2023												FY2024									FY2024
	1Q (2022/4-6)		2Q (2022/7-9)		3Q (2022/10-12)		9 months (2022/4-12)		4Q (2023/1-3)		12 months (‘22/4-‘23/3)		1Q (2023/4-6)		2Q (2023/7-9)		3Q (2023/10-12)		9 months (2023/4-12)			Forecast 12 months (‘23/4-‘24/3)
R&D Expenses (billions of yen)		302.2		318.4		298.8		919.5		322.0		1,241.6		294.8		314.0		289.2		898.1			1,240.0	^(Note 5)
Depreciation Expenses (billions of yen)		284.3		289.7		298.1		872.2		312.7		1,185.0		298.3		303.2		302.9		904.5			1,260.0	^(Note 6)
Geographic Information
Japan		122.6		126.3		118.0		366.9		145.8		512.8		140.7		139.5		133.6		413.9
North America		87.4		95.3		94.4		277.2		89.4		366.6		79.4		84.5		91.4		255.4
Europe		22.1		20.4		20.9		63.5		22.3		85.9		21.4		23.4		21.3		66.2
Asia		39.9		42.5		56.2		138.7		45.2		184.0		46.1		44.6		45.4		136.1
Other		12.2		5.0		8.4		25.7		9.7		35.5		10.5		11.1		11.0		32.7
Capital Expenditures (billions of yen)		274.6		407.4		358.8		1,040.9		564.9		1,605.8		366.6		442.8		486.9		1,296.4			1,970.0	^(Note 6)
Geographic Information
Japan		128.6		151.6		148.1		428.3		275.4		703.8		144.0		175.2		174.0		493.3
North America		97.9		175.3		120.1		393.4		162.7		556.1		154.1		159.5		182.6		496.3
Europe		10.3		10.3		16.9		37.6		24.1		61.7		12.5		28.9		23.4		64.8
Asia		25.7		65.5		63.4		154.7		68.1		222.9		41.1		54.9		89.4		185.5
Other		11.9		4.5		10.2		26.7		34.4		61.2		14.7		24.2		17.3		56.3
Total Liquid Assets (billions of yen)		10,532.2		11,004.6		10,278.7		10,278.7		11,313.7		11,313.7		12,287.8		13,808.6		14,143.6		14,143.6	^(Note 7)
Total Assets (billions of yen)		71,935.1		74,484.0		71,580.5		71,580.5		74,303.1		74,303.1		80,131.2		83,661.3		84,232.1		84,232.1
Toyota Motor Corporation Shareholders’ Equity (billions of yen)		27,374.8		28,037.2		27,535.8		27,535.8		28,338.7		28,338.7		30,330.0		31,893.1		32,561.6		32,561.6
Return on Equity (%)		11.0		6.3		10.5		9.4		7.9		9.0		17.9		16.4		16.9		17.3
Return on Asset (%)		4.2		2.4		4.0		3.6		3.0		3.5		6.8		6.2		6.5		6.6
Number of Consolidated Subsidiaries (including Structured Entities)												569
Number of Associates and Joint Ventures Accounted for Using the Equity Method												168


Analysis of Consolidated Net Income Attributable to Toyota Motor Corporation for FY2024 (billions of yen, approximately)	3Q (2023/10-12)		9 months (2023/4-12)
Marketing Efforts		700.0		1,990.0
Effects of Changes in Exchange Rates		120.0		380.0
Cost Reduction Efforts		45.0		-65.0
From Engineering		15.0		-160.0
From Manufacturing and Logistics		30.0		95.0
Increase or Decrease in Expenses and Expense Reduction Efforts		-80.0		-300.0
Other		-60.8		137.1
(Changes in Operating Income)		724.2		2,142.1
Non-operating Income		76.2		345.6
Share of Profit (Loss) of Investments Accounted for Using the Equity Method		47.5		121.4
Income tax expense, Net Income Attributable to Non-controlling Interests		-170.6		-439.5
(Changes in Net Income Attributable to Toyota Motor Corporation)		629.8		2,048.2

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, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia 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, the Canadian dollar and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) 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 government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies, as well as information security; (xiii) fuel shortages or interruptions in electricity, 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; (xiv) the impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social infrastructure, wars, terrorism and labor strikes, including their negative effect on Toyota’s vehicle production and sales; (xv) the impact of climate change and the transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources.

(Note 1)

Shows the number of employees as of the end of each period (excluding loan employees from Toyota to outside Toyota and including loan employees from outside Toyota to Toyota)

(Note 2)

2Q= Interim Dividend, 4Q= Year-end Dividend, FY= Annual Dividend

(Note 3)

Excluding shares constituting less than one unit that were purchased upon request and the commission fees incurred for the repurchase

(Note 4)

Shareholder return on Net Income for the period (Stated the maximum total purchase price for the repurchase of shares during the repurchase period, or the actual purchase price of shares repurchased after the completion of the repurchase period.)

(Note 5)

Figures for R&D expenses are R&D activity related expenditures incurred during the reporting period and do not conform to “R&D Expenses” on Toyota’s Consolidated Statement of Income

(Note 6)

Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease or right of use assets

(Note 7)

Cash and cash equivalents, time deposits, public and corporate bonds and its investment in monetary trust funds, excluding in each case those relating to financial services

Supplemental 3

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