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EX-99.1 2 d258403dex991.htm FY2022 THIRD QUARTER FINANCIAL SUMMARY FY2022 Third Quarter Financial Summary

FINANCIAL SUMMARY

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

FY2022 Third Quarter

(April 1, 2021 through December 31, 2021)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2022 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 9, 2022


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	:	Akio Toyoda, President
Contact person	:	Hiroyuki Suzuki, General Manager, Accounting Division Tel. (0565)28-2121
Filing date of quarterly securities report	:	February 14, 2022
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 FY2022 First nine months (April 1, 2021 through December 31, 2021)

(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		%
FY2022 first nine months		23,267,041		19.2		2,531,835		67.9		3,237,553		73.1		2,383,898		59.1		2,316,222		57.8		2,635,194		58.6
FY2021 first nine months		19,525,255		-15.0		1,507,922		-26.1		1,869,989		-21.9		1,498,697		-15.3		1,468,064		-14.1		1,661,238		-16.0


	Earnings per share attributable to Toyota Motor Corporation – Basic		Earnings per share attributable to Toyota Motor Corporation – Diluted
	Yen		Yen
FY2022 first nine months		166.45		166.45
FY2021 first nine months		105.05		104.01


(Note)		On October 1, 2021, Toyota Motor Corporation (“TMC”) effected a five-for-one stock split of its common stock to shareholders of record as of September 30, 2021. “Earnings per share attributable to Toyota Motor Corporation (Basic)” and “Earnings per share attributable to Toyota Motor Corporation (Diluted)” are calculated based on the assumption that the stock split was implemented at the beginning of the previous fiscal year.

(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		%
FY2022 third quarter		63,618,063		25,854,724		24,939,554		39.2
FY2021		62,267,140		24,288,329		23,404,547		37.6

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
FY2021		—		105.00		—		135.00		240.00
FY2022		—		120.00		—
FY2022 (forecast)								—		—

(Note)

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

Breakdown of Annual cash dividends per common share at end of FY2021 second quarter: Special Dividends 5.00yen

Please refer to [Notice Concerning Distribution of Interim Dividends from Surplus] released on November 6, 2020 for further information.

On October 1, 2021, TMC effected a five-for-one stock split of its common stock to shareholders of record as of September 30, 2021. The dividend for the fiscal year ended March 31, 2021 and the second quarter of the fiscal year 2022 presents the amount prior to the stock split.

3.	Forecast of Consolidated Results for FY2022 (April 1, 2021 through March 31, 2022)


	(% of change from FY2021)
	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	29,500,000		8.4	2,800,000		27.4	3,520,000		20.0	2,490,000		10.9	179.25


(Note)		Revisions to the forecast of consolidated results since the latest announcement: yes
		On October 1, 2021, TMC effected a five-for-one stock split of its common stock to shareholders of record as of September 30, 2021. “Earnings per share attributable to Toyota Motor Corporation (Basic)” for the fiscal year ending March 31, 2022 (forecast) presents the amount after the stock split.

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):

FY2022 third quarter 16,314,987,460 shares, FY2021 16,314,987,460 shares

(ii)

Number of treasury stock at the end of each period:

FY2022 third quarter 2,496,246,556 shares, FY2021 2,335,244,160 shares

(iii)

Average number of shares issued and outstanding in each period:

FY2022 first nine months 13,915,169,719 shares, FY2021 first nine months 13,975,355,130 shares


(Note)		On October 1, 2021, TMC effected a five-for-one stock split of its common stock to shareholders of record as of September 30, 2021. “Number of shares issued and outstanding (common stock)” are calculated based on the assumption that the stock split was implemented at the beginning of the previous fiscal year.

This report is not reviewed.

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 Russian ruble, 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; (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; and (xiv) the impact of natural calamities as well as the outbreak and spread of epidemics, including the negative effect on Toyota’s vehicle production and sales.

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.

The global spread of COVID-19 and the responses to it by governments and other stakeholders have adversely affected Toyota in a number of ways. For reasons such as government directives as well as anticipated reduced demand for its vehicles, Toyota has temporarily suspended, or intends to temporarily suspend, production of automobiles and components at selected plants in Japan and overseas. COVID-19 has also affected, and is expected to continue to affect, the businesses of Toyota dealers and distributors, as well as certain of Toyota’s third-party suppliers and business partners. In addition, the global spread of COVID-19 and related matters have adversely affected businesses in a wide variety of industries, as well as consumers, all of which negatively impacted demand for Toyota’s vehicles and related financial services.

The duration of the global spread of COVID-19 and the resulting future effects are uncertain, and the foregoing impacts and other effects not referenced above, as well as the ultimate impact of COVID-19, are difficult to predict and could have an adverse effect on Toyota’s financial condition and results of operations.

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 FY2022 Third Quarter Financial Summary

TABLE OF CONTENTS


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

Supplemental Material for Financial Results for FY2022 Third Quarter

—1—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

Condensed Quarterly Consolidated Financial Statements and

Notes to Condensed Quarterly Consolidated Financial Statements

1. Condensed Quarterly Consolidated Statement of Financial Position


	Yen in millions
	March 31, 2021			December 31, 2021
Assets
Current assets
Cash and cash equivalents		5,100,857			5,770,225
Trade accounts and other receivables		2,958,742			3,040,244
Receivables related to financial services		6,756,189			6,734,429
Other financial assets		4,215,457			1,785,656
Inventories		2,888,028			3,466,674
Income tax receivable		112,458			129,174
Other current assets		745,070			743,491

Total current assets		22,776,800			21,669,893

Non-current assets
Investments accounted for using the equity method		4,160,803			4,562,011
Receivables related to financial services		12,449,525			13,475,070
Other financial assets		9,083,914			9,607,634
Property, plant and equipment
Land		1,345,037			1,345,639
Buildings		4,999,206			5,128,283
Machinery and equipment		12,753,951			13,316,364
Vehicles and equipment on operating leases		6,203,721			6,469,890
Construction in progress		675,875			612,315

Total property, plant and equipment, at cost		25,977,791			26,872,491

Less - Accumulated depreciation and impairment losses		(14,566,638	)		(15,015,046	)

Total property, plant and equipment, net		11,411,153			11,857,445

Right of use assets		390,144			390,866
Intangible assets		1,108,634			1,157,947
Deferred tax assets		336,224			324,854
Other non-current assets		549,942			572,343

Total non-current assets		39,490,339			41,948,171

Total assets		62,267,140			63,618,063

—2—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary


	Yen in millions
	March 31, 2021			December 31, 2021
Liabilities
Current liabilities
Trade accounts and other payables		4,045,939			3,904,399
Short-term and current portion of long-term debt		12,212,060			10,685,266
Accrued expenses		1,397,140			1,257,812
Other financial liabilities		763,875			906,751
Income taxes payable		350,880			604,889
Liabilities for quality assurance		1,482,872			1,468,174
Other current liabilities		1,207,700			1,355,213

Total current liabilities		21,460,466			20,182,504

Non-current liabilities
Long-term debt		13,447,575			14,437,061
Other financial liabilities		323,432			282,678
Retirement benefit liabilities		1,035,096			1,069,561
Deferred tax liabilities		1,247,220			1,296,374
Other non-current liabilities		465,021			495,162

Total non-current liabilities		16,518,344			17,580,836

Total liabilities		37,978,811			37,763,340

Shareholders’ equity
Common stock		397,050			397,050
Additional paid-in capital		497,275			498,194
Retained earnings		24,104,176			25,748,108
Other components of equity		1,307,726			1,514,122
Treasury stock		(2,901,680	)		(3,217,920	)

Total Toyota Motor Corporation shareholders’ equity		23,404,547			24,939,554

Non-controlling interests		883,782			915,170

Total shareholders’ equity		24,288,329			25,854,724

Total liabilities and shareholders’ equity		62,267,140			63,618,063

—3—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

2. Condensed Quarterly Consolidated Statement of Income and

Condensed Quarterly Consolidated Statement of Comprehensive Income

Condensed Quarterly Consolidated Statement of Income


	Yen in millions
	For the first nine months ended December 31, 2020			For the first nine months ended December 31, 2021
Sales revenues
Sales of products		17,922,573			21,549,344
Financial services		1,602,683			1,717,697

Total sales revenues		19,525,255			23,267,041

Costs and expenses
Cost of products sold		15,289,445			17,817,966
Cost of financial services		881,533			834,483
Selling, general and administrative		1,846,356			2,082,757

Total costs and expenses		18,017,334			20,735,205

Operating income		1,507,922			2,531,835

Share of profit (loss) of investments accounted for using the equity method		201,474			415,524
Other finance income		220,854			252,415
Other finance costs		(33,096	)		(25,552	)
Foreign exchange gain (loss), net		(12,808	)		91,196
Other income (loss), net		(14,356	)		(27,866	)

Income before income taxes		1,869,989			3,237,553

Income tax expense		371,292			853,654

Net income		1,498,697			2,383,898

Net income attributable to
Toyota Motor Corporation		1,468,064			2,316,222
Non-controlling interests		30,633			67,677

Net income		1,498,697			2,383,898


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic		105.05			166.45

Diluted		104.01			166.45

—4—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the first nine months ended December 31, 2020			For the first nine months ended December 31, 2021
Net income		1,498,697			2,383,898
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		192,880			(173,195	)
Remeasurements of defined benefit plans		(2,381	)		(7,024	)
Share of other comprehensive income of equity method investees		(2,739	)		71,531

Total of items that will not be reclassified to profit (loss)		187,760			(108,688	)

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		27,415			272,163
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(28,450	)		(19,802	)
Share of other comprehensive income of equity method investees		(24,184	)		107,623

Total of items that may be reclassified subsequently to profit (loss)		(25,219	)		359,984

Total other comprehensive income, net of tax		162,541			251,296

Comprehensive income		1,661,238			2,635,194

Comprehensive income for the period attributable to
Toyota Motor Corporation		1,610,308			2,560,199
Non-controlling interests		50,929			74,995

Comprehensive income		1,661,238			2,635,194

—5—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

Condensed Quarterly Consolidated Statement of Income


	Yen in millions
	For the third quarter ended December 31, 2020			For the third quarter ended December 31, 2021
Sales revenues
Sales of products		7,605,418			7,204,419
Financial services		544,615			581,323

Total sales revenues		8,150,032			7,785,742

Costs and expenses
Cost of products sold		6,211,206			5,975,051
Cost of financial services		282,124			284,691
Selling, general and administrative		668,762			741,629

Total costs and expenses		7,162,092			7,001,371

Operating income		987,941			784,370

Share of profit (loss) of investments accounted for using the equity method		125,084			154,482
Other finance income		52,879			136,542
Other finance costs		(9,859	)		(9,193	)
Foreign exchange gain (loss), net		(622	)		47,800
Other income (loss), net		(14,249	)		(20,495	)

Income before income taxes		1,141,174			1,093,508

Income tax expense		273,666			274,665

Net income		867,508			818,842

Net income attributable to
Toyota Motor Corporation		838,696			791,738
Non-controlling interests		28,812			27,104

Net income		867,508			818,842


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic		59.99			57.18

Diluted		59.25			—

—6—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the third quarter ended December 31, 2020			For the third quarter ended December 31, 2021
Net income		867,508			818,842
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		202,914			(253,398	)
Remeasurements of defined benefit plans		(246	)		1,684
Share of other comprehensive income of equity method investees		39,114			(9,639	)

Total of items that will not be reclassified to profit (loss)		241,782			(261,353	)

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		16,627			204,025
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(13,351	)		(17,659	)
Share of other comprehensive income of equity method investees		11,501			21,314

Total of items that may be reclassified subsequently to profit (loss)		14,777			207,680

Total other comprehensive income, net of tax		256,560			(53,672	)

Comprehensive income		1,124,068			765,170

Comprehensive income for the period attributable to
Toyota Motor Corporation		1,087,116			727,679
Non-controlling interests		36,952			37,491

Comprehensive income		1,124,068			765,170

—7—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

3. Condensed Quarterly Consolidated Statement of Changes in Equity

For the first nine months ended December 31, 2020


	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, 2020		397,050		489,334			22,234,061			585,549			(3,087,106	)		20,618,888			720,124			21,339,012

Comprehensive income
Net income		—		—			1,468,064			—			—			1,468,064			30,633			1,498,697
Other comprehensive income, net of tax		—		—			—			142,244			—			142,244			20,297			162,541

Total comprehensive income		—		—			1,468,064			142,244			—			1,610,308			50,929			1,661,238

Transactions with owners and other
Dividends paid		—		—			(625,514	)		—			—			(625,514	)		(35,858	)		(661,372	)
Repurchase of treasury stock		—		—			—			—			(65	)		(65	)		—			(65	)
Reissuance of treasury stock		—		15,041			—			—			185,544			200,585			—			200,585
Change in scope of consolidation		—		—			—			—			—			—			75,260			75,260
Equity transactions and other		—		(83	)		—			—			—			(83	)		18,503			18,420

Total transactions with owners and other		—		14,958			(625,514	)		—			185,479			(425,077	)		57,906			(367,171	)

Reclassification to retained earnings		—		—			26,208			(26,208	)		—			—			—			—

Balances at December 31, 2020		397,050		504,291			23,102,819			701,586			(2,901,627	)		21,804,119			828,959			22,633,078

For the first nine months ended December 31, 2021
	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, 2021		397,050		497,275			24,104,176			1,307,726			(2,901,680	)		23,404,547			883,782			24,288,329

Comprehensive income
Net income		—		—			2,316,222			—			—			2,316,222			67,677			2,383,898
Other comprehensive income, net of tax		—		—			—			243,978			—			243,978			7,319			251,296

Total comprehensive income		—		—			2,316,222			243,978			—			2,560,199			74,995			2,635,194

Transactions with owners and other
Dividends paid		—		—			(709,872	)		—			—			(709,872	)		(51,464	)		(761,335	)
Repurchase of treasury stock		—		—			—			—			(316,602	)		(316,602	)		—			(316,602	)
Reissuance of treasury stock		—		227			—			—			362			588			—			588
Equity transactions and other		—		692			—			—			—			692			7,857			8,549

Total transactions with owners and other		—		919			(709,872	)		—			(316,240	)		(1,025,193	)		(43,607	)		(1,068,800	)

Reclassification to retained earnings		—		—			37,582			(37,582	)		—			—			—			—

Balances at December 31, 2021		397,050		498,194			25,748,108			1,514,122			(3,217,920	)		24,939,554			915,170			25,854,724

—8—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

4. Condensed Quarterly Consolidated Statement of Cash Flows


	Yen in millions
	For the first nine months ended December 31, 2020			For the first nine months ended December 31, 2021
Cash flows from operating activities
Net income		1,498,697			2,383,898
Depreciation and amortization		1,218,187			1,342,533
Interest income and interest costs related to financial services, net		(179,525	)		(260,886	)
Share of profit (loss) of investments accounted for using the equity method		(201,474	)		(415,524	)
Income tax expense		371,292			853,654
Changes in operating assets and liabilities, and other		(891,402	)		(1,282,577	)
Interest received		586,251			615,939
Dividends received		286,345			345,315
Interest paid		(329,170	)		(290,328	)
Income taxes paid, net of refunds		(525,113	)		(650,517	)

Net cash provided by (used in) operating activities		1,834,089			2,641,508

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(953,430	)		(856,035	)
Additions to equipment leased to others		(1,596,399	)		(1,827,035	)
Proceeds from sales of fixed assets excluding equipment leased to others		28,195			23,764
Proceeds from sales of equipment leased to others		1,000,085			1,146,734
Additions to intangible assets		(200,780	)		(245,252	)
Additions to public and corporate bonds and stocks		(1,803,956	)		(1,790,122	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds		1,712,421			1,935,300
Other, net		(1,875,215	)		1,786,885

Net cash provided by (used in) investing activities		(3,689,079	)		174,240

Cash flows from financing activities
Increase (decrease) in short-term debt		(762,114	)		(403,532	)
Proceeds from long-term debt		7,230,747			6,162,921
Payments of long-term debt		(3,811,132	)		(6,933,945	)
Dividends paid to Toyota Motor Corporation common shareholders		(625,514	)		(709,872	)
Dividends paid to non-controlling interests		(35,858	)		(51,464	)
Reissuance (repurchase) of treasury stock		199,937			(316,327	)

Net cash provided by (used in) financing activities		2,196,066			(2,252,218	)

Effect of exchange rate changes on cash and cash equivalents		40,466			105,838

Net increase (decrease) in cash and cash equivalents		381,542			669,368

Cash and cash equivalents at beginning of period		4,098,450			5,100,857

Cash and cash equivalents at end of period		4,479,992			5,770,225

—9—

TOYOTA MOTOR CORPORATION FY2022 Third Quarter Financial Summary

5. Going Concern Assumption

None

—10—

Supplemental Material for Financial Results for FY2022 Third Quarter (Consolidated)

< IFRS >


	FY2021																		FY2022												FY2022
	1Q (2020/4-6)			2Q (2020/7-9)			3Q (2020/10-12)			9 months (2020/4-12)			4Q (2021/1-3)			12 months (‘20/4-‘21/3)			1Q (2021/4-6)			2Q (2021/7-9)			3Q (2021/10-12)			9 months (2021/4-12)			Forecast 12 months (‘21/4-‘22/3)
Vehicle Production (thousands of units)		1,080			1,990			2,262			5,332			2,221			7,553			2,180			1,756			2,077			6,013
(Japan) –including Daihatsu & Hino		679			1,031			1,144			2,854			1,095			3,948			1,025			826			945			2,796
[Daihatsu & Hino]		[178	]		[269	]		[283	]		[729	]		[300	]		[1,029	]		[262	]		[194	]		[257	]		[713	]
(Overseas) –including Daihatsu & Hino		401			959			1,118			2,478			1,126			3,605			1,155			930			1,132			3,217
[Daihatsu & Hino]		[15	]		[53	]		[84	]		[152	]		[107	]		[259	]		[110	]		[121	]		[140	]		[370	]
North America		187			500			489			1,176			466			1,642			519			395			403			1,317
Europe		82			138			200			420			222			642			199			110			201			510
Asia		109			230			333			672			343			1,015			324			316			419			1,059
Central and South America		10			67			69			147			65			213			83			84			81			249
Africa		13			24			27			63			30			93			29			25			29			83
Vehicle Sales (thousands of units)		1,158			1,928			2,353			5,438			2,208			7,646			2,148			1,946			2,003			6,096			8,250
(Japan) –including Daihatsu & Hino		385			536			592			1,513			612			2,125			500			445			482			1,427			1,980
[Daihatsu & Hino]		[104	]		[159	]		[162	]		[425	]		[185	]		[610	]		[146	]		[128	]		[133	]		[406	]		[580	]
(Overseas) –including Daihatsu & Hino		774			1,392			1,760			3,925			1,596			5,521			1,648			1,501			1,521			4,670			6,270
[Daihatsu & Hino]		[16	]		[31	]		[41	]		[88	]		[62	]		[150	]		[63	]		[63	]		[78	]		[204	]		[270	]
North America		285			646			753			1,683			630			2,313			661			621			522			1,805			2,470
Europe		141			254			285			679			280			959			281			229			250			760			980
Asia		182			274			392			848			374			1,222			365			341			413			1,118			1,470
Central and South America		30			66			87			184			86			270			105			105			111			321			440
Oceania		48			51			84			183			63			246			74			74			60			208			280
Africa		24			39			42			105			52			157			51			45			58			154			230
Middle East		62			60			115			237			109			346			108			84			106			298			400
Other		2			2			3			6			2			8			2			2			2			5
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		1,848			2,519			2,845			7,211			2,708			9,920			2,759			2,506			2,522			7,787			10,290

Supplemental 1

Supplemental Material for Financial Results for FY2022 Third Quarter (Consolidated)

< IFRS >


	FY2021																		FY2022												FY2022
	1Q (2020/4-6)			2Q (2020/7-9)			3Q (2020/10-12)			9 months (2020/4-12)			4Q (2021/1-3)			12 months (‘20/4-‘21/3)			1Q (2021/4-6)			2Q (2021/7-9)			3Q (2021/10-12)			9 months (2021/4-12)			Forecast 12 months (‘21/4-‘22/3)
Foreign Exchange Rates
Yen to US Dollar Rate		108			106			105			106			106			106			110			110			114			111			as premise: 111
Yen to Euro Rate		119			124			125			122			128			124			132			130			130			131			as premise: 129
Number of Employees		369,701			369,604			367,987			367,987			366,283			366,283			372,434			372,286			371,365			371,365	^(Note 1)
Sales Revenues (billions of yen)		4,600.7			6,774.4			8,150.0			19,525.2			7,689.3			27,214.5			7,935.5			7,545.7			7,785.7			23,267.0			29,500.0
Geographic Information
Japan		2,675.6			3,687.7			4,384.6			10,748.1			4,200.8			14,948.9			4,096.6			3,695.5			4,096.1			11,888.4
North America		1,381.1			2,564.8			2,938.2			6,884.1			2,607.6			9,491.8			2,875.0			2,804.4			2,593.7			8,273.2
Europe		471.4			810.5			905.5			2,187.6			946.8			3,134.4			986.9			900.2			1,000.2			2,887.5
Asia		906.5			1,149.2			1,543.4			3,599.1			1,446.1			5,045.2			1,531.9			1,411.3			1,739.6			4,683.0
Other		281.2			419.1			606.0			1,306.3			566.5			1,872.8			688.2			704.3			702.2			2,094.8
Elimination		-1,115.2			-1,857.0			-2,227.8			-5,200.2			-2,078.6			-7,278.8			-2,243.3			-1,970.3			-2,346.3			-6,560.0
Business Segment
Automotive		3,976.4			6,146.2			7,491.3			17,614.0			7,037.5			24,651.5			7,241.2			6,883.8			7,073.8			21,198.9
Financial Services		534.9			531.5			554.5			1,621.0			541.1			2,162.2			578.8			567.6			588.3			1,734.7
All Other		206.0			234.0			266.1			706.2			346.0			1,052.3			241.2			254.3			266.9			762.5
Elimination		-116.7			-137.4			-162.0			-416.1			-235.4			-651.5			-125.7			-160.1			-143.4			-429.2
Operating Income (billions of yen)		13.9			506.0			987.9			1,507.9			689.8			2,197.7			997.4			749.9			784.3			2,531.8			2,800.0
(Operating Income Ratio) (%)		(0.3	)		(7.5	)		(12.1	)		(7.7	)		(9.0	)		(8.1	)		(12.6	)		(9.9	)		(10.1	)		(10.9	)		(9.5	)
Geographic Information
Japan		77.4			164.9			538.5			780.8			368.3			1,149.2			518.5			290.5			396.5			1,205.6
North America		-68.5			187.3			212.9			331.7			69.6			401.3			248.8			174.4			129.2			552.5
Europe		-21.9			31.6			52.9			62.6			45.3			107.9			30.0			23.6			82.7			136.4
Asia		42.8			93.4			155.3			291.6			144.3			435.9			166.6			157.7			175.2			499.6
Other		-11.7			20.2			34.9			43.3			16.4			59.8			65.3			82.7			51.7			199.8
Elimination		-4.0			8.5			-6.8			-2.3			45.7			43.4			-31.9			20.7			-51.1			-62.3
Business Segment
Automotive		-86.5			332.2			812.6			1,058.3			548.7			1,607.1			780.0			577.6			595.3			1,953.1
Financial Services		92.2			153.0			152.3			397.6			97.9			495.5			196.0			168.3			190.6			555.1
All Other		9.3			15.3			24.3			49.0			36.3			85.3			21.6			-0.1			-1.1			20.3
Elimination		-1.1			5.3			-1.3			2.9			6.7			9.6			-0.3			4.0			-0.5			3.1
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of yen)		-12.5			88.9			125.0			201.4			149.5			351.0			161.4			99.5			154.4			415.5			480.0
Income before Income Taxes (billions of yen)		118.2			610.5			1,141.1			1,869.9			1,062.3			2,932.3			1,257.2			886.8			1,093.5			3,237.5			3,520.0
(Income before Income Taxes Ratio) (%)		(2.6	)		(9.0	)		(14.0	)		(9.6	)		(13.8	)		(10.8	)		(15.8	)		(11.8	)		(14.0	)		(13.9	)		(11.9	)
Net Income Attributable to Toyota Motor Corporation (billions of yen)		158.8			470.5			838.6			1,468.0			777.1			2,245.2			897.8			626.6			791.7			2,316.2			2,490.0
(Net Income Ratio) (%)		(3.5	)		(6.9	)		(10.3	)		(7.5	)		(10.1	)		(8.3	)		(11.3	)		(8.3	)		(10.2	)		(10.0	)		(8.4	)
Dividends
Cash Dividends (billions of yen)		—			293.5			—			293.5			377.4			671.0			—			332.4			—			332.4	^(Note 2)
Cash Dividends per Share (yen)		—			105			—			105			135			240			—			120			—			120	*
Payout Ratio (%)		—			46.6			—			46.6			23.3			29.8			—			21.9			—			21.9
Value of Shares Repurchased (billions of yen) [actual purchase]		—			—			—			—			—			—			21.5			228.4			66.4			316.4	^(Note 3)
Value of Shares Repurchased (billions of yen) [shareholder return]		—			—			—			—			250.0			250.0			—			150.0			—			150.0	^{(Note 3) (Note 4)}
Number of Outstanding Shares (thousands)		3,262,997			3,262,997			3,262,997			3,262,997			3,262,997			3,262,997			3,262,997			3,262,997			16,314,987			16,314,987

Supplemental 2

Supplemental Material for Financial Results for FY2022 Third Quarter (Consolidated)

< IFRS >


	FY2021												FY2022									FY2022
	1Q (2020/4-6)		2Q (2020/7-9)		3Q (2020/10-12)		9 months (2020/4-12)		4Q (2021/1-3)		12 months (‘20/4-‘21/3)		1Q (2021/4-6)		2Q (2021/7-9)		3Q (2021/10-12)		9 months (2021/4-12)			Forecast 12 months (‘21/4-‘22/3)
R&D Expenses (billions of yen)		280.7		286.8		265.8		833.4		256.9		1,090.4		274.1		276.0		294.8		844.9			1,180.0	^(Note 5)
Depreciation Expenses (billions of yen)		204.0		221.0		217.8		642.9		234.0		876.9		241.7		229.2		261.7		732.7			930.0	^(Note 6)
Geographic Information
Japan		98.1		109.8		101.1		309.1		115.6		424.7		116.8		99.2		125.4		341.5
North America		59.0		60.6		60.4		180.2		62.1		242.3		63.9		68.1		73.5		205.6
Europe		14.1		15.1		16.3		45.6		15.4		61.0		18.3		19.3		17.6		55.3
Asia		25.9		28.6		32.3		86.9		33.0		120.0		33.2		32.5		34.2		100.0
Other		6.7		6.8		7.4		21.0		7.7		28.7		9.3		10.0		10.7		30.1
Capital Expenditures (billions of yen)		260.3		325.2		316.1		901.7		391.4		1,293.2		279.0		358.9		279.6		917.6			1,300.0	^(Note 6)
Geographic Information
Japan		147.1		160.0		157.5		464.7		247.9		712.7		135.7		157.8		149.2		442.7
North America		54.8		107.1		68.2		230.2		60.9		291.2		74.5		151.9		72.2		298.7
Europe		14.8		15.9		21.2		52.0		30.9		83.0		25.2		19.7		17.8		62.7
Asia		35.2		33.0		58.3		126.6		34.4		161.1		36.9		24.4		36.1		97.5
Other		8.3		8.9		10.7		28.0		17.1		45.1		6.5		4.9		4.2		15.7
Total Liquid Assets (billions of yen)		9,451.8		10,238.7		10,621.2		10,621.2		11,579.4		11,579.4		10,318.6		10,270.8		10,193.3		10,193.3	^(Note 7)
Total Assets (billions of yen)		55,916.5		56,483.8		58,010.3		58,010.3		62,267.1		62,267.1		61,651.1		61,758.8		63,618.0		63,618.0
Toyota Motor Corporation Shareholders’ Equity (billions of yen)		20,713.9		21,010.8		21,804.1		21,804.1		23,404.5		23,404.5		24,123.0		24,610.4		24,939.5		24,939.5
Return on Equity (%)		3.1		9.0		15.7		9.2		13.8		10.2		15.1		10.3		12.8		12.8
Return on Asset (%)		1.2		3.3		5.9		3.5		5.2		3.9		5.8		4.1		5.1		4.9
Number of Consolidated Subsidiaries (including Structured Entities)												544
Number of Associates and Joint Ventures Accounted for Using the Equity Method												169


Analysis of Consolidated Net Income Attributable to Toyota Motor Corporation for FY2022 (billions of yen, approximately)	3Q (2021/10-12)		9 months (2021/4-12)
Marketing Efforts		-180.0		875.0
Effects of Changes in Exchange Rates		190.0		445.0
Cost Reduction Efforts		-135.0		-165.0
From Engineering		-150.0		-200.0
From Manufacturing and Logistics		15.0		35.0
Increase or Decrease in Expenses and Expense Reduction Efforts		-90.0		-80.0
Other		11.5		-51.1
(Changes in Operating Income)		-203.5		1,023.9
Non-operating Income		155.9		343.6
Share of Profit (Loss) of Investments Accounted for Using the Equity Method		29.3		214.0
Income tax expense, Net Income Attributable to Non-controlling Interests		0.7		-519.4
(Changes in Net Income Attributable to Toyota Motor Corporation)		-46.9		848.1

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 Russian ruble, 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; (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; and (xiv) the impact of natural calamities as well as the outbreak and spread of epidemics, including the negative effect on Toyota’s vehicle production and sales.

*	Breakdown of Annual cash dividends per common share at end of FY2021 second quarter: Special Dividends 5 yen

(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

(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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