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EX-99.1 2 d204145dex991.htm FY2022 FIRST QUARTER FINANCIAL SUMMARY FY2022 FIRST QUARTER FINANCIAL SUMMARY

FINANCIAL SUMMARY

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

FY2022 First Quarter

(April 1, 2021 through June 30, 2021)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2022 First 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

August 4, 2021


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	:	August 6, 2021
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 Quarter (April 1, 2021 through June 30, 2021)

(1)	Consolidated financial results (For the first quarter ended June 30)


	(% of change from previous first quarter)
	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 quarter		7,935,558		72.5		997,489		—		1,257,220		963.3		926,540		520.0		897,832		465.2		1,145,862		391.5
FY2021 first quarter		4,600,796		-40.4		13,920		-98.1		118,233		-86.1		149,448		-76.3		158,843		-74.3		233,157		-60.6


	Earnings per share attributable to Toyota Motor Corporation – Basic		Earnings per share attributable to Toyota Motor Corporation – Diluted
	Yen		Yen
FY2022 first quarter		321.13		321.11
FY2021 first quarter		56.87		56.87


(Note)		% of change from previous first quarter is shown as “—” in operating income of FY2022 first quarter because the ratio exceeds 1000%.

(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 first quarter		61,651,149		25,016,901		24,123,041		39.1
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		—
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 6th, 2020 for further information.

Toyota Motor Corporation (“TMC”) ’s board of directors authorized a resolution on May 12th, 2021 to implement a common stock split in which each share of common stock held by shareholders as of the record date of September 30, 2021 will be split into five shares. The per share dividend for FY2021 is the dividend before 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	30,000,000		10.2	2,500,000		13.8	3,110,000		6.1	2,300,000		2.4	164.62


(Note)		Revisions to the forecast of consolidated results since the latest announcement: none
		Basic earnings per share attributable to Toyota Motor Corporation is based on the number of shares after stock split, which is described on the note of 2. Cash Dividends.

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 first quarter 3,262,997,492 shares, FY2021 3,262,997,492 shares

(ii)

Number of treasury stock at the end of each period: FY2022 first quarter 469,248,616 shares,

FY2021 467,048,832 shares

(iii)

Average number of shares issued and outstanding in each period:

FY2022 first quarter 2,795,809,951 shares, FY2021 first quarter 2,793,273,694 shares

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 First 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			6
4. Condensed Quarterly Consolidated Statement of Cash Flows			7
5. Going Concern Assumption			8
6. Additional Information			9

Supplemental Material for Financial Results for FY2022 First Quarter

—1—

TOYOTA MOTOR CORPORATION FY2022 First 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			June 30, 2021
Assets
Current assets
Cash and cash equivalents		5,100,857			5,013,426
Trade accounts and other receivables		2,958,742			2,889,722
Receivables related to financial services		6,756,189			6,561,573
Other financial assets		4,215,457			2,861,753
Inventories		2,888,028			3,098,874
Income tax receivable		112,458			108,946
Other current assets		745,070			890,195

Total current assets		22,776,800			21,424,490

Non-current assets
Investments accounted for using the equity method		4,160,803			4,269,682
Receivables related to financial services		12,449,525			12,739,826
Other financial assets		9,083,914			9,299,118
Property, plant and equipment
Land		1,345,037			1,342,917
Buildings		4,999,206			5,044,078
Machinery and equipment		12,753,951			12,839,895
Vehicles and equipment on operating leases		6,203,721			6,305,745
Construction in progress		675,875			659,959

Total property, plant and equipment, at cost		25,977,791			26,192,594

Less - Accumulated depreciation and impairment losses		(14,566,638	)		(14,634,579	)

Total property, plant and equipment, net		11,411,153			11,558,015

Right of use assets		390,144			384,224
Intangible assets		1,108,634			1,100,561
Deferred tax assets		336,224			310,632
Other non-current assets		549,942			564,603

Total non-current assets		39,490,339			40,226,659

Total assets		62,267,140			61,651,149

—2—

TOYOTA MOTOR CORPORATION FY2022 First Quarter Financial Summary


	Yen in millions
	March 31, 2021			June 30, 2021
Liabilities
Current liabilities
Trade accounts and other payables		4,045,939			3,769,291
Short-term and current portion of long-term debt		12,212,060			10,529,725
Accrued expenses		1,397,140			1,409,823
Other financial liabilities		763,875			756,539
Income taxes payable		350,880			427,281
Liabilities for quality assurance		1,482,872			1,454,227
Other current liabilities		1,207,700			1,282,132

Total current liabilities		21,460,466			19,629,020

Non-current liabilities
Long-term debt		13,447,575			13,935,172
Other financial liabilities		323,432			292,718
Retirement benefit liabilities		1,035,096			1,042,428
Deferred tax liabilities		1,247,220			1,258,596
Other non-current liabilities		465,021			476,314

Total non-current liabilities		16,518,344			17,005,228

Total liabilities		37,978,811			36,634,248

Shareholders’ equity
Common stock		397,050			397,050
Additional paid-in capital		497,275			497,379
Retained earnings		24,104,176			24,655,333
Other components of equity		1,307,726			1,496,510
Treasury stock		(2,901,680	)		(2,923,231	)

Total Toyota Motor Corporation shareholders’ equity		23,404,547			24,123,041

Non-controlling interests		883,782			893,861

Total shareholders’ equity		24,288,329			25,016,901

Total liabilities and shareholders’ equity		62,267,140			61,651,149

—3—

TOYOTA MOTOR CORPORATION FY2022 First 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 quarter ended June 30, 2020			For the first quarter ended June 30, 2021
Sales revenues
Sales of products		4,069,855			7,362,417
Financial services		530,941			573,140

Total sales revenues		4,600,796			7,935,558

Costs and expenses
Cost of products sold		3,726,300			6,014,841
Cost of financial services		325,068			271,078
Selling, general and administrative		535,508			652,150

Total costs and expenses		4,586,876			6,938,068

Operating income		13,920			997,489

Share of profit (loss) of investments accounted for using the equity method		(12,572	)		161,483
Other finance income		114,789			72,065
Other finance costs		(10,012	)		(7,484	)
Foreign exchange gain (loss), net		8,510			25,921
Other income (loss), net		3,599			7,746

Income before income taxes		118,233			1,257,220

Income tax expense		(31,214	)		330,679

Net income		149,448			926,540

Net income attributable to
Toyota Motor Corporation		158,843			897,832
Non-controlling interests		(9,396	)		28,708

Net income		149,448			926,540


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic		56.87			321.13

Diluted		56.87			321.11

—4—

TOYOTA MOTOR CORPORATION FY2022 First Quarter Financial Summary

Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the first quarter ended June 30, 2020			For the first quarter ended June 30, 2021
Net income		149,448			926,540
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		144,082			1,565
Remeasurements of defined benefit plans		(1,578	)		(4,361	)
Share of other comprehensive income of equity method investees		(86,421	)		61,695

Total of items that will not be reclassified to profit (loss)		56,084			58,899

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		65,319			78,998
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		4,014			11,224
Share of other comprehensive income of equity method investees		(41,707	)		70,200

Total of items that may be reclassified subsequently to profit (loss)		27,626			160,422

Total other comprehensive income, net of tax		83,709			219,322

Comprehensive income		233,157			1,145,862

Comprehensive income for the period attributable to
Toyota Motor Corporation		226,258			1,117,394
Non-controlling interests		6,899			28,469

Comprehensive income		233,157			1,145,862

—5—

TOYOTA MOTOR CORPORATION FY2022 First Quarter Financial Summary

3. Condensed Quarterly Consolidated Statement of Changes in Equity

For the first quarter ended June 30, 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		—		—		158,843			—			—			158,843			(9,396	)		149,448
Other comprehensive income, net of tax		—		—		—			67,415			—			67,415			16,295			83,709

Total comprehensive income		—		—		158,843			67,415			—			226,258			6,899			233,157

Transactions with owners and other
Dividends paid		—		—		(331,938	)		—			—			(331,938	)		(17,932	)		(349,870	)
Repurchase of treasury stock		—		—		—			—			(13	)		(13	)		—			(13	)
Reissuance of treasury stock		—		15,031		—			—			185,542			200,573			—			200,573
Change in scope of consolidation		—		—		—			—			—			—			67,331			67,331
Equity transactions and other		—		163		—			—			—			163			17,316			17,478

Total transactions with owners and other		—		15,193		(331,938	)		—			185,529			(131,216	)		66,715			(64,501	)

Reclassification to retained earnings		—		—		12,756			(12,756	)		—			—			—			—

Balances at June 30, 2020		397,050		504,527		22,073,722			640,208			(2,901,577	)		20,713,930			793,737			21,507,667

For the first quarter ended June 30, 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		—		—		897,832			—			—			897,832			28,708			926,540
Other comprehensive income, net of tax		—		—		—			219,561			—			219,561			(240	)		219,322

Total comprehensive income		—		—		897,832			219,561			—			1,117,394			28,469			1,145,862

Transactions with owners and other
Dividends paid		—		—		(377,453	)		—			—			(377,453	)		(19,494	)		(396,947	)
Repurchase of treasury stock		—		—		—			—			(21,600	)		(21,600	)		—			(21,600	)
Reissuance of treasury stock		—		34		—			—			49			83			—			83
Equity transactions and other		—		70		—			—			—			70			1,104			1,174

Total transactions with owners and other		—		104		(377,453	)		—			(21,551	)		(398,900	)		(18,389	)		(417,290	)

Reclassification to retained earnings		—		—		30,778			(30,778	)		—			—			—			—

Balances at June 30, 2021		397,050		497,379		24,655,333			1,496,510			(2,923,231	)		24,123,041			893,861			25,016,901

—6—

TOYOTA MOTOR CORPORATION FY2022 First Quarter Financial Summary

4. Condensed Quarterly Consolidated Statement of Cash Flows


	Yen in millions
	For the first quarter ended June 30, 2020			For the first quarter ended June 30, 2021
Cash flows from operating activities
Net income		149,448			926,540
Depreciation and amortization		398,044			439,778
Interest income and interest costs related to financial services, net		(47,617	)		(83,022	)
Share of profit (loss) of investments accounted for using the equity method		12,572			(161,483	)
Income tax expense		(31,214	)		330,679
Changes in operating assets and liabilities, and other		134,000			(588,367	)
Interest received		173,382			198,692
Dividends received		190,101			241,885
Interest paid		(101,457	)		(89,881	)
Income taxes paid, net of refunds		(204,007	)		(255,863	)

Net cash provided by (used in) operating activities		673,252			958,958

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(358,358	)		(335,088	)
Additions to equipment leased to others		(386,686	)		(739,484	)
Proceeds from sales of fixed assets excluding equipment leased to others		12,650			9,996
Proceeds from sales of equipment leased to others		265,751			419,887
Additions to intangible assets		(74,804	)		(64,515	)
Additions to public and corporate bonds and stocks		(592,187	)		(868,405	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds		593,473			640,954
Other, net		202,544			1,563,755

Net cash provided by (used in) investing activities		(337,617	)		627,100

Cash flows from financing activities
Increase (decrease) in short-term debt		(213,223	)		(80,929	)
Proceeds from long-term debt		3,982,675			2,128,592
Payments of long-term debt		(1,284,411	)		(3,320,588	)
Dividends paid to Toyota Motor Corporation common shareholders		(331,938	)		(377,453	)
Dividends paid to non-controlling interests		(17,932	)		(19,494	)
Reissuance (repurchase) of treasury stock		199,986			(21,517	)

Net cash provided by (used in) financing activities		2,335,157			(1,691,389	)

Effect of exchange rate changes on cash and cash equivalents		32,319			17,901

Net increase (decrease) in cash and cash equivalents		2,703,111			(87,430	)

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

Cash and cash equivalents at end of period		6,801,561			5,013,426

—7—

TOYOTA MOTOR CORPORATION FY2022 First Quarter Financial Summary

5. Going Concern Assumption

None

—8—

TOYOTA MOTOR CORPORATION FY2022 First Quarter Financial Summary

6. Additional Information

Common Stock Split

TMC authorized a stock split of shares of its common stock and partial amendment to the Articles of Incorporation due to the stock split, at a meeting of its board of directors held on May 12th, 2021.

Purpose of the Stock Split -

The purpose is to reduce the minimum investment price through the stock split, thereby creating an environment where it is easier to invest in TMC’s shares and expanding TMC’s investor base.

Outline of the Stock Split -

(1) Stock Split Method

The record date for the stock split will be September 30, 2021. Each share of TMC’s common stock held by shareholders as of the record date will be split into five shares.

(2) Increase in Number of Shares as a Result of the Stock Split

Number of shares outstanding prior to the stock split: 3,262,997,492 shares

Increase in total number of issued shares as a result of this stock split: 13,051,989,968 shares

Number of issued shares after the stock split: 16,314,987,460 shares

Total number of authorized shares after the stock split: 50,000,000,000 shares

Stock Split Schedule -

Date of public notice of the record date: September 14, 2021(Scheduled)

Record date: September 30, 2021(Scheduled)

Effective date: October 1, 2021(Scheduled)

Partial Amendment to Articles of Incorporation -

Due to the stock split described above, TMC will partially amend its Articles of Incorporation, to increase the total number of shares which the Corporation is authorized to issue from ten billion (10,000,000,000) to fifty billion (50,000,000,000), effective as of October 1, 2021, pursuant to Article 184, Paragraph 2 of the Companies Act.

Impact on Per Share Information -

Per share information assuming that the stock split was performed at the beginning of the first quarter ended June 30, 2020 is as follows.


	For the first quarter ended June 30, 2020		For the first quarter ended June 30, 2021
Basic earnings per share attributable to Toyota Motor Corporation (yen)		11.37		64.23
Diluted earnings per share attributable to Toyota Motor Corporation (yen)		11.37		64.22
Toyota Motor Corporation shareholders’ equity per share (yen)		1,481.70		1,726.93

—9—

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

< IFRS >


	FY2021															FY2022			FY2022
	1Q (2020/4-6)			2Q (2020/7-9)			3Q (2020/10-12)			4Q (2021/1-3)			12 months (‘20/4-‘21/3)			1Q (2021/4-6)			Forecast 12 months (‘21/4-‘22/3)
Vehicle Production (thousands of units)		1,080			1,990			2,262			2,221			7,553			2,180
(Japan) –including Daihatsu & Hino		679			1,031			1,144			1,095			3,948			1,025
[Daihatsu & Hino]		[178	]		[269	]		[283	]		[300	]		[1,029	]		[262	]
(Overseas) –including Daihatsu & Hino		401			959			1,118			1,126			3,605			1,155
[Daihatsu & Hino]		[15	]		[53	]		[84	]		[107	]		[259	]		[110	]
North America		187			500			489			466			1,642			519
Europe		82			138			200			222			642			199
Asia		109			230			333			343			1,015			324
Central and South America		10			67			69			65			213			83
Africa		13			24			27			30			93			29
Vehicle Sales (thousands of units)		1,158			1,928			2,353			2,208			7,646			2,148			8,700
(Japan) –including Daihatsu & Hino		385			536			592			612			2,125			500			2,170
[Daihatsu & Hino]		[104	]		[159	]		[162	]		[185	]		[610	]		[146	]		[650	]
(Overseas) –including Daihatsu & Hino		774			1,392			1,760			1,596			5,521			1,648			6,530
[Daihatsu & Hino]		[16	]		[31	]		[41	]		[62	]		[150	]		[63	]		[250	]
North America		285			646			753			630			2,313			661			2,720
Europe		141			254			285			280			959			281			1,100
Asia		182			274			392			374			1,222			365			1,360
Central and South America		30			66			87			86			270			105			410
Oceania		48			51			84			63			246			74			300
Africa		24			39			42			52			157			51			190
Middle East		62			60			115			109			346			108			450
Other		2			2			3			2			8			2
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		1,848			2,519			2,845			2,708			9,920			2,759			10,550

Supplemental 1

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

< IFRS >


	FY2021															FY2022			FY2022
	1Q (2020/4-6)			2Q (2020/7-9)			3Q (2020/10-12)			4Q (2021/1-3)			12 months (‘20/4-’21/3)			1Q (2021/4-6)			Forecast 12 months (‘21/4-’22/3)
Foreign Exchange Rates
Yen to US Dollar Rate		108			106			105			106			106			110			as premise: 105
Yen to Euro Rate		119			124			125			128			124			132			as premise: 125
Number of Employees		369,701			369,604			367,987			366,283			366,283			372,434	^(Note 1)
Sales Revenues (billions of yen)		4,600.7			6,774.4			8,150.0			7,689.3			27,214.5			7,935.5			30,000.0
Geographic Information
Japan		2,675.6			3,687.7			4,384.6			4,200.8			14,948.9			4,096.6
North America		1,381.1			2,564.8			2,938.2			2,607.6			9,491.8			2,875.0
Europe		471.4			810.5			905.5			946.8			3,134.4			986.9
Asia		906.5			1,149.2			1,543.4			1,446.1			5,045.2			1,531.9
Other		281.2			419.1			606.0			566.5			1,872.8			688.2
Elimination		-1,115.2			-1,857.0			-2,227.8			-2,078.6			-7,278.8			-2,243.3
Business Segment
Automotive		3,976.4			6,146.2			7,491.3			7,037.5			24,651.5			7,241.2
Financial Services		534.9			531.5			554.5			541.1			2,162.2			578.8
All Other		206.0			234.0			266.1			346.0			1,052.3			241.2
Elimination		-116.7			-137.4			-162.0			-235.4			-651.5			-125.7
Operating Income (billions of yen)		13.9			506.0			987.9			689.8			2,197.7			997.4			2,500.0
(Operating Income Ratio) (%)		(0.3	)		(7.5	)		(12.1	)		(9.0	)		(8.1	)		(12.6	)		(8.3	)
Geographic Information
Japan		77.4			164.9			538.5			368.3			1,149.2			518.5
North America		-68.5			187.3			212.9			69.6			401.3			248.8
Europe		-21.9			31.6			52.9			45.3			107.9			30.0
Asia		42.8			93.4			155.3			144.3			435.9			166.6
Other		-11.7			20.2			34.9			16.4			59.8			65.3
Elimination		-4.0			8.5			-6.8			45.7			43.4			-31.9
Business Segment
Automotive		-86.5			332.2			812.6			548.7			1,607.1			780.0
Financial Services		92.2			153.0			152.3			97.9			495.5			196.0
All Other		9.3			15.3			24.3			36.3			85.3			21.6
Elimination		-1.1			5.3			-1.3			6.7			9.6			-0.3
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of yen)		-12.5			88.9			125.0			149.5			351.0			161.4			430.0
Income before Income Taxes (billions of yen)		118.2			610.5			1,141.1			1,062.3			2,932.3			1,257.2			3,110.0
(Income before Income Taxes Ratio) (%)		(2.6	)		(9.0	)		(14.0	)		(13.8	)		(10.8	)		(15.8	)		(10.4	)
Net Income Attributable to Toyota Motor Corporation (billions of yen)		158.8			470.5			838.6			777.1			2,245.2			897.8			2,300.0
(Net Income Ratio) (%)		(3.5	)		(6.9	)		(10.3	)		(10.1	)		(8.3	)		(11.3	)		(7.7	)
Dividends
Cash Dividends (billions of yen)		—			293.5			—			377.4			671.0			—	^(Note 2)
Cash Dividends per Share (yen)		—			105			—			135			240			—	*
Payout Ratio (%)		—			46.6			—			23.3			29.8			—
Value of Shares Repurchased (billions of yen)[actual purchase]		—			—			—			—			—			21.5	^(Note 3)
Value of Shares Repurchased (billions of yen)[shareholder return]		—			—			—			250.0			250.0			—	^{(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

Supplemental 2

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

< IFRS >


	FY2021										FY2022			FY2022
	1Q (2020/4-6)		2Q (2020/7-9)		3Q (2020/10-12)		4Q (2021/1-3)		12 months (‘20/4-‘21/3)		1Q (2021/4-6)			Forecast 12 months (‘21/4-‘22/3)
R&D Expenses (billions of yen)		280.7		286.8		265.8		256.9		1,090.4		274.1			1,160.0	^(Note 5)
Depreciation Expenses (billions of yen)		204.0		221.0		217.8		234.0		876.9		241.7			930.0	^(Note 6)
Geographic Information
Japan		98.1		109.8		101.1		115.6		424.7		116.8
North America		59.0		60.6		60.4		62.1		242.3		63.9
Europe		14.1		15.1		16.3		15.4		61.0		18.3
Asia		25.9		28.6		32.3		33.0		120.0		33.2
Other		6.7		6.8		7.4		7.7		28.7		9.3
Capital Expenditures (billions of yen)		260.3		325.2		316.1		391.4		1,293.2		279.0			1,350.0	^(Note 6)
Geographic Information
Japan		147.1		160.0		157.5		247.9		712.7		135.7
North America		54.8		107.1		68.2		60.9		291.2		74.5
Europe		14.8		15.9		21.2		30.9		83.0		25.2
Asia		35.2		33.0		58.3		34.4		161.1		36.9
Other		8.3		8.9		10.7		17.1		45.1		6.5
Total Liquid Assets (billions of yen)		9,451.8		10,238.7		10,621.2		11,579.4		11,579.4		10,318.6	^(Note 7)
Total Assets (billions of yen)		55,916.5		56,483.8		58,010.3		62,267.1		62,267.1		61,651.1
Toyota Motor Corporation Shareholders’ Equity (billions of yen)		20,713.9		21,010.8		21,804.1		23,404.5		23,404.5		24,123.0
Return on Equity (%)		3.1		9.0		15.7		13.8		10.2		15.1
Return on Asset (%)		1.2		3.3		5.9		5.2		3.9		5.8
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)	1Q (2021/4-6)
Marketing Efforts		940.0
Effects of Changes in Exchange Rates		140.0
Cost Reduction Efforts		-5.0
From Engineering		-25.0
From Manufacturing and Logistics		20.0
Increase or Decrease in Expenses and Expense Reduction Efforts		-25.0
Other		-66.5
(Changes in Operating Income)		983.5
Non-operating Income		155.4
Share of Profit (Loss) of Investments Accounted for Using the Equity Method		174.0
Income tax expense, Net Income Attributable to Non-controlling Interests		-399.9
(Changes in Net Income Attributable to Toyota Motor Corporation)		738.9

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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