Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of August, 2024

Commission File Number 001-14948

 

 

Toyota Motor Corporation

(Translation of Registrant’s Name Into English)

 

 

1, Toyota-cho, Toyota City,

Aichi Prefecture 471-8571,

Japan

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F   X  Form 40-F    

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):    

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):    

 

 

 

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Material Contained in this Report:

 

I.	English translations of the original Japanese-language documents, as filed with the Tokyo Stock Exchange on August 1, 2024, with respect to the registrant’s results of operations for the first quarter of FY2025 ended June 30, 2024.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Toyota Motor Corporation
By:		/s/  Yoshihide Moriyama
		Name:		Yoshihide Moriyama
		Title:		General Manager,
				Capital Strategy & Affiliated Companies Finance Division

Date: August 1, 2024

Table of Contents

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with IFRS Accounting Standards)

FY2025 First Quarter

(April 1, 2024 through June 30, 2024)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

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Table of Contents

FY2025 First Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with IFRS Accounting Standards)

English translation from the original Japanese-language document

August 1, 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. [phone]
Payment date of cash dividends		:		—
Supplemental materials prepared for financial results		:		yes
Earnings announcement for financial results		:		yes

(Amounts are rounded to the nearest million yen)

 

1.	Consolidated Results for FY2025 First Quarter (April 1, 2024 through June 30, 2024)

 

(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				%
FY2025 first quarter			11,837,879				12.2				1,308,462				16.7				1,872,258				8.8				1,363,823				2.8				1,333,347				1.7				2,196,759				-14.0
FY2024 first quarter			10,546,831				24.2				1,120,900				93.7				1,720,553				68.4				1,326,890				75.0				1,311,372				78.0				2,553,887				51.3

 

		Earnings per share attributable to Toyota Motor Corporation – Basic				Earnings per share attributable to Toyota Motor Corporation – Diluted
		Yen				Yen
FY2025 first quarter			98.99				98.99
FY2024 first quarter			96.74				96.74

 

(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				%
FY2025 first quarter			94,037,319				36,779,372				35,737,743				38.0
FY2024			90,114,296				35,239,338				34,220,991				38.0

 

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
FY2024			—				30.00				—				45.00				75.00
FY2025			—
FY2025 (forecast)							—				—				—				—

 

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

 

3.	Forecast of Consolidated Results for FY2025 (April 1, 2024 through March 31, 2025)

 

		(% of change from FY2024)
		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		46,000,000			2.0			4,300,000			-19.7			5,070,000			-27.2			3,570,000			-27.8			265.04

 

(Note)		Revisions to the forecast of consolidated results since the latest announcement: none

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Table of Contents

Notes

(1)	Significant changes in the scope of consolidation during the period: none

 

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

 

(i)

Changes in accounting policies required by IFRS Accounting Standards: 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):

FY2025 first quarter 15,794,987,460 shares, FY2024 16,314,987,460 shares

 

(ii)

Number of treasury stock at the end of each period: FY2025 first quarter 2,325,417,265 shares,

FY2024 2,840,815,433 shares

 

(iii)

Average number of shares issued and outstanding in each period: FY2025 first quarter 13,469,159,202 shares,

FY2024 first quarter 13,555,662,829 shares

Review of the Japanese-language originals of the attached condensed quarterly consolidated financial statements by certified public accountants or an audit firm: yes (voluntary)

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/)

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Table of Contents

TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

TABLE OF CONTENTS

 

Financial Results and Position			2
1. Consolidated Financial Results for FY2025 First Quarter			2
2. Consolidated Financial Position for FY2025 First Quarter			4
Unaudited Condensed Quarterly ConsolidatedFinancial Statements			5
1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position			5
2. Unaudited Condensed Quarterly Consolidated Statement of Income and Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income			7
3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity			9
4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows			10
5. Notes to Unaudited Condensed Quarterly Consolidated Financial Statements			11
(1) Going Concern Assumption			11
(2) Segment Information			12

Supplemental Material for Financial Results for FY2025 First Quarter

 

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Table of Contents

TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

Financial Results and Position

1. Consolidated Financial Results for FY2025 First Quarter

Financial Results

Consolidated vehicle unit sales in Japan and overseas decreased by 74 thousand units, or 3.2%, to 2,252 thousand units in FY2025 first quarter (the first quarter ended June 30, 2024) compared with FY2024 first quarter (the first quarter ended June 30, 2023). Vehicle unit sales in Japan decreased by 110 thousand units, or 20.8%, to 421 thousand units in FY2025 first quarter compared with FY2024 first quarter. Meanwhile, overseas vehicle unit sales increased by 36 thousand units, or 2.0%, to 1,830 thousand units in FY2025 first quarter compared with FY2024 first quarter.

The results of operations for FY2025 first quarter were as follows:

 

Sales revenues		11,837.8 billion yen		(an increase of 1,291.0 billion yen or 12.2% compared with FY2024 first quarter)
Operating income		1,308.4 billion yen		(an increase of 187.5 billion yen or 16.7% compared with FY2024 first quarter)
Income before income taxes		1,872.2 billion yen		(an increase of 151.7 billion yen or 8.8% compared with FY2024 first quarter)
Net income attributable to Toyota Motor Corporation		1,333.3 billion yen		(an increase of 21.9 billion yen or 1.7% compared with FY2024 first quarter)

The changes in operating income were as follows:

 

Marketing efforts		an increase of 70.0 billion yen
Effects of changes in exchange rates		an increase of 370.0 billion yen
Cost reduction efforts		an increase of 55.0 billion yen
Increase or decrease in expenses and expense reduction efforts		a decrease of 225.0 billion yen
Other		a decrease of 82.5 billion yen

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

Segment Operating Results

(1) Automotive:

Sales revenues for the automotive operations increased by 1,071.7 billion yen, or 11.1%, to 10,759.7 billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 172.2 billion yen, or 18.2%, to 1,117.9 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating income was mainly due to the effects of changes in exchange rates.

(2) Financial services:

Sales revenues for the financial services operations increased by 230.1 billion yen, or 29.7%, to 1,005.3 billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 12.4 billion yen, or 8.4%, to 159.7 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating income was mainly due to increase in loan balance in sales finance subsidiaries in the United States.

(3) All other:

Sales revenues for all other businesses increased by 9.2 billion yen, or 3.0%, to 315.6 billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 0.5 billion yen, or 1.4%, to 40.7 billion yen in FY2025 first quarter compared with FY2024 first quarter.

Geographic Information

(1) Japan:

Sales revenues in Japan increased by 118.5 billion yen, or 2.3%, to 5,224.0 billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 179.3 billion yen, or 25.5%, to 881.2 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating income was mainly due to the effects of changes in exchange rates.

(2) North America:

Sales revenues in North America increased by 910.3 billion yen, or 22.2%, to 5,002.4 billion yen in FY2025 first quarter compared with FY2024 first quarter. However, operating income decreased by 34.5 billion yen, or 28.9%, to 85.0 billion yen in FY2025 first quarter compared with FY2024 first quarter. The decrease in operating income was mainly due to the increase in expenses and others.

(3) Europe:

Sales revenues in Europe increased by 209.9 billion yen, or 16.2%, to 1,509.0 billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 41.5 billion yen, or 50.0%, to 124.6 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating income was mainly due to the decrease in expenses and others.

(4) Asia:

Sales revenues in Asia increased by 267.1 billion yen, or 13.6%, to 2,231.7 billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 59.7 billion yen, or 32.1%, to 245.9 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating income was mainly due to the effects of changes in exchange rates.

(5) Other (Central and South America, Oceania, Africa and the Middle East):

Sales revenues in other regions increased by 29.2 billion yen, or 2.9%, to 1,053.8 billion yen in FY2025 first quarter compared with FY2024 first quarter. However, operating income decreased by 43.6 billion yen, or 51.1%, to 41.7 billion yen in FY2025 first quarter compared with FY2024 first quarter. The decrease in operating income was mainly due to the unfavorable impact of inflation and weak peso in Argentina.

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

2. Consolidated Financial Position for FY2025 first quarter

Financial Position

The financial position for FY2025 first quarter was as follows:

Total assets increased by 3,923.0 billion yen, or 4.4%, to 94,037.3 billion yen at the end of FY2025 first quarter compared with the end of FY2024. Liabilities increased by 2,382.9 billion yen, or 4.3%, to 57,257.9 billion yen at the end of FY2025 first quarter compared with the end of FY2024. Shareholders’ equity increased by 1,540.0 billion yen, or 4.4%, to 36,779.3 billion yen at the end of FY2025 first quarter compared with the end of FY2024.

Overview of Cash Flow

Cash and cash equivalents decreased by 1,814.9 billion yen, or 19.3%, to 7,597.0 billion yen at the end of FY2025 first quarter compared with the end of FY2024.

The increases or decreases for each cash flow activity compared with the previous fiscal year are as follows:

Cash flows from operating activities

Net cash flows from operating activities resulted in an increase in cash by 683.6 billion yen in FY2025 first quarter. Net cash provided by operating activities decreased by 674.5 billion yen from 1,358.2 billion yen in FY2024 first quarter.

Cash flows from investing activities

Net cash flows from investing activities resulted in a decrease in cash by 2,399.6 billion yen in FY2025 first quarter. Net cash used in investing activities increased by 1,282.5 billion yen from 1,117.0 billion yen in FY2024 first quarter.

Cash flows from financing activities

Net cash flows from financing activities resulted in a decrease in cash by 318.7 billion yen in FY2025 first quarter. Net cash used in financing activities increased by 225.9 billion yen from 92.8 billion yen in FY2024 first quarter.

 

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Table of Contents

TOYOTA MOTOR CORPORATION FY2025 First 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, 2024				June 30, 2024
Assets
Current assets
Cash and cash equivalents			9,412,060				7,597,094
Trade accounts and other receivables			3,789,429				4,040,297
Receivables related to financial services			11,057,269				11,937,807
Other financial assets			4,702,168				6,029,041
Inventories			4,605,368				4,787,791
Income tax receivable			116,886				163,593
Other current assets			1,031,098				1,168,228
Total current assets			34,714,279				35,723,850
Non-current assets
Investments accounted for using the equity method			5,710,106				5,606,133
Receivables related to financial services			20,637,090				22,468,466
Other financial assets			11,390,559				11,696,448
Property, plant and equipment
Land			1,441,811				1,453,632
Buildings			5,884,749				6,033,632
Machinery and equipment			16,469,032				17,123,075
Vehicles and equipment on operating leases			7,523,911				8,072,550
Construction in progress			1,040,188				1,186,723
Total property, plant and equipment, at cost			32,359,692				33,869,612
Less - Accumulated depreciation and impairment losses			(18,101,905	)			(18,855,355	)
Total property, plant and equipment, net			14,257,788				15,014,257
Right of use assets			532,835				579,402
Intangible assets			1,355,326				1,356,564
Deferred tax assets			502,230				532,424
Other non-current assets			1,014,083				1,059,773
Total non-current assets			55,400,017				58,313,468
Total assets			90,114,296				94,037,319

 

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Table of Contents

TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

		Yen in millions
		March 31, 2024				June 30, 2024
Liabilities
Current liabilities
Trade accounts and other payables			5,251,357				5,146,699
Short-term and current portion of long-term debt			15,406,284				16,721,672
Accrued expenses			1,863,760				1,956,814
Other financial liabilities			1,700,137				1,896,316
Income taxes payable			1,224,542				689,698
Liabilities for quality assurance			1,836,314				1,929,945
Other current liabilities			1,895,516				1,864,135
Total current liabilities			29,177,909				30,205,278
Non-current liabilities
Long-term debt			21,155,496				22,193,255
Other financial liabilities			495,814				571,385
Retirement benefit liabilities			1,077,962				1,115,760
Deferred tax liabilities			2,219,638				2,222,806
Other non-current liabilities			748,139				949,463
Total non-current liabilities			25,697,049				27,052,669
Total liabilities			54,874,958				57,257,947
Shareholders’ equity
Common stock			397,050				397,050
Additional paid-in capital			491,802				491,081
Retained earnings			32,795,365				32,741,232
Other components of equity			4,503,756				5,364,252
Treasury stock			(3,966,982	)			(3,255,871	)
Total Toyota Motor Corporation shareholders’ equity			34,220,991				35,737,743
Non-controlling interests			1,018,347				1,041,628
Total shareholders’ equity			35,239,338				36,779,372
Total liabilities and shareholders’ equity			90,114,296				94,037,319

 

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TOYOTA MOTOR CORPORATION FY2025 First 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 quarter ended June 30, 2023				For the first quarter ended June 30, 2024
Sales revenues
Sales of products			9,785,454				10,845,224
Financial services			761,377				992,656
Total sales revenues			10,546,831				11,837,879
Costs and expenses
Cost of products sold			8,040,979				8,774,492
Cost of financial services			442,948				634,942
Selling, general and administrative			942,003				1,119,984
Total costs and expenses			9,425,931				10,529,418
Operating income			1,120,900				1,308,462
Share of profit (loss) of investments accounted for using the equity method			193,356				164,937
Other finance income			190,127				173,800
Other finance costs			(23,339	)			(16,509	)
Foreign exchange gain (loss), net			246,776				236,999
Other income (loss), net			(7,267	)			4,570
Income before income taxes			1,720,553				1,872,258
Income tax expense			393,663				508,435
Net income			1,326,890				1,363,823
Net income attributable to
Toyota Motor Corporation			1,311,372				1,333,347
Non-controlling interests			15,518				30,476
Net income			1,326,890				1,363,823
		Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted			96.74				98.99

 

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Table of Contents

TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

 

		Yen in millions
		For the first quarter ended June 30, 2023				For the first quarter ended June 30, 2024
Net income			1,326,890				1,363,823
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			375,035				101,831
Remeasurements of defined benefit plans			(3,074	)			(5,679	)
Share of other comprehensive income of equity method investees			60,922				5,634
Total of items that will not be reclassified to profit (loss)			432,883				101,786
Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations			760,182				628,685
Net changes in revaluation of financial assets measured at fair value through other comprehensive income			(7,604	)			(21,714	)
Share of other comprehensive income of equity method investees			41,536				124,179
Total of items that may be reclassified subsequently to profit (loss)			794,114				731,149
Total other comprehensive income, net of tax			1,226,997				832,936
Comprehensive income			2,553,887				2,196,759
Comprehensive income for the period attributable to
Toyota Motor Corporation			2,500,599				2,139,964
Non-controlling interests			53,288				56,794
Comprehensive income			2,553,887				2,196,759

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity

For the first quarter ended June 30, 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			—				—				1,311,372				—				—				1,311,372				15,518				1,326,890
Other comprehensive income, net of tax			—				—				—				1,189,227				—				1,189,227				37,770				1,226,997
Total comprehensive income			—				—				1,311,372				1,189,227				—				2,500,599				53,288				2,553,887
Transactions with owners and other
Dividends paid			—				—				(474,781	)			—				—				(474,781	)			(35,457	)			(510,238	)
Repurchase of treasury stock			—				—				—				—				(34,377	)			(34,377	)			—				(34,377	)
Reissuance of treasury stock			—				263				—				—				649				911				—				911
Equity transactions and other			—				(995	)			—				—				—				(995	)			1,003				8
Total transactions with owners and other			—				(733	)			(474,781	)			—				(33,728	)			(509,242	)			(34,454	)			(543,696	)
Reclassification to retained earnings			—				—				99,799				(99,799	)			—				—				—				—
Balances at June 30, 2023			397,050				497,995				29,279,685				3,925,624				(3,770,291	)			30,330,063				944,341				31,274,404
For the first quarter ended June 30, 2024
		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, 2024			397,050				491,802				32,795,365				4,503,756				(3,966,982	)			34,220,991				1,018,347				35,239,338
Comprehensive income
Net income			—				—				1,333,347				—				—				1,333,347				30,476				1,363,823
Other comprehensive income, net of tax			—				—				—				806,618				—				806,618				26,318				832,936
Total comprehensive income			—				—				1,333,347				806,618				—				2,139,964				56,794				2,196,759
Transactions with owners and other
Dividends paid			—				—				(606,338	)			—				—				(606,338	)			(43,568	)			(649,906	)
Repurchase of treasury stock			—				—				—				—				(18,972	)			(18,972	)			—				(18,972	)
Reissuance of treasury stock			—				1,356				—				—				866				2,222				—				2,222
Retirement of treasury stock			—				(1,953	)			(727,264	)			—				729,217				—				—				—
Equity transactions and other			—				(125	)			—				—				—				(125	)			10,055				9,930
Total transactions with owners and other			—				(721	)			(1,333,602	)			—				711,111				(623,212	)			(33,513	)			(656,725	)
Reclassification to retained earnings			—				—				(53,878	)			53,878				—				—				—				—
Balances at June 30, 2024			397,050				491,081				32,741,232				5,364,252				(3,255,871	)			35,737,743				1,041,628				36,779,372

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows

 

		Yen in millions
		For the first quarter ended June 30, 2023				For the first quarter ended June 30, 2024
Cash flows from operating activities
Net income			1,326,890				1,363,823
Depreciation and amortization			505,809				575,278
Interest income and interest costs related to financial services, net			(174,594	)			(197,906	)
Share of profit (loss) of investments accounted for using the equity method			(193,356	)			(164,937	)
Income tax expense			393,663				508,435
Changes in operating assets and liabilities, and other			(802,363	)			(1,024,898	)
Interest received			488,866				667,642
Dividends received			445,938				467,291
Interest paid			(204,171	)			(324,593	)
Income taxes paid, net of refunds			(428,464	)			(1,186,473	)
Net cash provided by (used in) operating activities			1,358,218				683,661
Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others			(458,706	)			(405,618	)
Additions to equipment leased to others			(636,023	)			(1,028,186	)
Proceeds from sales of fixed assets excluding equipment leased to others			8,165				10,098
Proceeds from sales of equipment leased to others			460,086				629,911
Additions to intangible assets			(80,030	)			(63,862	)
Additions to public and corporate bonds and stocks			(614,453	)			(1,137,458	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds			755,711				649,510
Other, net			(551,805	)			(1,053,998	)
Net cash provided by (used in) investing activities			(1,117,054	)			(2,399,603	)
Cash flows from financing activities
Increase (decrease) in short-term debt			138,977				79,936
Proceeds from long-term debt			2,181,694				3,036,195
Payments of long-term debt			(1,869,180	)			(2,774,003	)
Dividends paid to Toyota Motor Corporation common shareholders			(474,781	)			(606,338	)
Dividends paid to non-controlling interests			(35,457	)			(43,568	)
Reissuance (repurchase) of treasury stock			(34,377	)			(18,972	)
Other, net			268				7,960
Net cash provided by (used in) financing activities			(92,858	)			(318,790	)
Effect of exchange rate changes on cash and cash equivalents			241,175				219,765
Net increase (decrease) in cash and cash equivalents			389,481				(1,814,966	)
Cash and cash equivalents at beginning of period			7,516,966				9,412,060
Cash and cash equivalents at end of period			7,906,447				7,597,094

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

5. Notes to Unaudited Condensed Quarterly Consolidated Financial Statements

(1) Going Concern Assumption

None

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

(2) Segment information

(i) Outline of reporting segments

The operating segments reported below are the segments of Toyota for which separate financial information is available and for which operating income/loss amounts are evaluated regularly by executive management in deciding how to allocate resources and in assessing performance.

The major portions of Toyota’s operations on a worldwide basis are derived from the Automotive and Financial services business segments. The Automotive segment designs, manufactures and distributes sedans, minivans, compact cars, SUVs, trucks and related parts and accessories. The Financial services segment consists primarily of financing and vehicle leasing operations to assist in the merchandising of Toyota’s products as well as other products. The All other segment includes telecommunications and other businesses.

(ii) Segment operating results

For the first quarter ended June 30, 2023:

 

		Yen in millions
		Automotive				Financial services				All other				Elimination				Consolidated
Sales revenues
Revenues from external customers			9,669,784				761,377				115,670				—				10,546,831
Inter-segment revenues and transfers			18,160				13,803				190,773				(222,736	)			—
Total			9,687,944				775,180				306,443				(222,736	)			10,546,831
Operating expenses			8,742,306				627,887				266,217				(210,479	)			9,425,931
Operating income			945,639				147,293				40,226				(12,256	)			1,120,900

For the first quarter ended June 30, 2024:

 

		Yen in millions
		Automotive				Financial services				All other				Elimination				Consolidated
Sales revenues
Revenues from external customers			10,707,121				992,656				138,102				—				11,837,879
Inter-segment revenues and transfers			52,584				12,710				177,567				(242,861	)			—
Total			10,759,705				1,005,366				315,669				(242,861	)			11,837,879
Operating expenses			9,641,799				845,627				274,879				(232,888	)			10,529,418
Operating income			1,117,906				159,738				40,790				(9,973	)			1,308,462

Accounting policies applied by each segment are in conformity with those of Toyota’s condensed quarterly consolidated financial statements. Transfers between segments are made in accordance with terms and conditions in the ordinary course of business.

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

(iii) Geographic information

For the first quarter ended June 30, 2023:

 

		Yen in millions
		Japan				North America				Europe				Asia				Other				Elimination				Consolidated
Sales revenues
Revenues from external customers			2,588,180				4,025,715				1,255,454				1,702,911				974,571				—				10,546,831
Inter-segment revenues and transfers			2,517,373				66,358				43,613				261,668				50,073				(2,939,086	)			—
Total			5,105,553				4,092,074				1,299,067				1,964,579				1,024,644				(2,939,086	)			10,546,831
Operating expenses			4,403,604				3,972,416				1,215,976				1,778,377				939,236				(2,883,679	)			9,425,931
Operating income			701,949				119,658				83,090				186,202				85,408				(55,406	)			1,120,900

For the first quarter ended June 30, 2024:

 

		Yen in millions
		Japan				North America				Europe				Asia				Other				Elimination				Consolidated
Sales revenues
Revenues from external customers			2,470,246				4,914,562				1,461,791				1,950,769				1,040,512				—				11,837,879
Inter-segment revenues and transfers			2,753,849				87,865				47,215				281,006				13,345				(3,183,279	)			—
Total			5,224,094				5,002,427				1,509,006				2,231,775				1,053,857				(3,183,279	)			11,837,879
Operating expenses			4,342,815				4,917,366				1,384,330				1,985,829				1,012,062				(3,112,985	)			10,529,418
Operating income			881,279				85,061				124,676				245,946				41,795				(70,294	)			1,308,462

“Other” consists of Central and South America, Oceania, Africa and the Middle East.

The above amounts are aggregated by region based on the location of the country where TMC or consolidated subsidiaries are located. Transfers between geographic areas are made in accordance with terms and conditions in the ordinary course of business.

 

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TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

 

(iv) Sales revenues by location of external customers

 

		Yen in millions
		For the first quarter ended June 30,
		2023				2024
Japan			1,888,484				1,738,709
North America			4,031,922				4,934,278
Europe			1,225,994				1,419,779
Asia			1,786,939				1,976,558
Other			1,613,493				1,768,555
Total			10,546,831				11,837,879

“Other” consists of Central and South America, Oceania, Africa and the Middle East, etc.

 

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Supplemental Material for Financial Results for FY2025 First Quarter (Consolidated)

< IFRS >

 

		FY2024																				FY2025				FY2025
		1Q (2023/4-6)				2Q (2023/7-9)				3Q (2023/10-12)				4Q (2024/1-3)				12 months (‘23/4-‘24/3)				1Q (2024/4-6)				Forecast 12 months (‘24/4-‘25/3)
Vehicle Production (thousands of units)			2,345				2,379				2,444				2,095				9,263				2,186
(Japan) –including Daihatsu & Hino			1,025				1,090				1,115				813				4,042				901
[Daihatsu & Hino]			[190	]			[232	]			[247	]			[65	]			[734	]			[141	]
(Overseas) –including Daihatsu & Hino			1,321				1,289				1,328				1,282				5,221				1,285
[Daihatsu & Hino]			[118	]			[139	]			[134	]			[114	]			[506	]			[106	]
North America			520				482				475				499				1,976				523
Europe			223				161				238				224				846				215
Asia			437				498				489				453				1,876				434
Central and South America			102				105				91				85				383				87
Africa			39				44				35				22				140				26
Vehicle Sales (thousands of units)			2,326				2,418				2,551				2,148				9,443				2,252				9,500
(Japan) –including Daihatsu & Hino			532				540				558				363				1,993				421				1,870
[Daihatsu & Hino]			[134	]			[141	]			[154	]			[48	]			[477	]			[84	]			[330	]
(Overseas) –including Daihatsu & Hino			1,794				1,878				1,993				1,784				7,450				1,830				7,630
[Daihatsu & Hino]			[69	]			[74	]			[64	]			[64	]			[271	]			[61	]			[270	]
North America			682				703				776				655				2,816				705				2,870
Europe			286				270				327				308				1,192				291				1,160
Asia			417				478				480				428				1,804				436				1,940
Central and South America			128				126				120				136				510				114				500
Oceania			76				87				80				74				318				82				300
Africa			59				62				55				46				221				49				260
Middle East			143				149				151				136				579				151				600
Other			3				2				3				2				10				2
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]			2,751				2,845				2,968				2,526				11,090				2,636				10,950

 

Supplemental 1

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Table of Contents

Supplemental Material for Financial Results for FY2025 First Quarter (Consolidated)

< IFRS >

 

		FY2024																				FY2025				FY2025
		1Q (2023/4-6)				2Q (2023/7-9)				3Q (2023/10-12)				4Q (2024/1-3)				12 months (‘23/4-‘24/3)				1Q (2024/4-6)				Forecast 12 months (‘24/4-‘25/3)
Foreign Exchange Rates
Yen to US Dollar Rate			137				145				148				149				145				156				as premise: 145
Yen to Euro Rate			150				157				159				161				157				168				as premise: 160
Number of Employees			379,659				381,576				380,737				380,793				380,793				384,954	(Note 1)
Sales Revenues (billions of yen)			10,546.8				11,434.7				12,041.1				11,072.6				45,095.3				11,837.8				46,000.0
Geographic Information
Japan			5,105.5				5,404.7				5,626.8				4,883.5				21,020.7				5,224.0
North America			4,092.0				4,504.2				4,958.1				4,388.6				17,943.0				5,002.4
Europe			1,299.0				1,359.4				1,520.7				1,502.4				5,681.7				1,509.0
Asia			1,964.5				2,346.6				2,371.3				2,048.2				8,730.7				2,231.7
Other			1,024.6				1,165.1				974.0				1,225.9				4,389.7				1,053.8
Elimination			-2,939.0				-3,345.3				-3,410.0				-2,976.3				-12,670.7				-3,183.2
Business Segment
Automotive			9,687.9				10,477.3				11,065.7				10,035.1				41,266.2				10,759.7
Financial Services			775.1				846.1				922.3				940.4				3,484.1				1,005.3
All Other			306.4				319.2				357.4				385.0				1,368.1				315.6
Elimination			-222.7				-207.9				-304.4				-288.0				-1,023.2				-242.8
Operating Income (billions of yen)			1,120.9				1,438.3				1,680.9				1,112.6				5,352.9				1,308.4				4,300.0
(Operating Income Ratio) (%)			(10.6	)			(12.6	)			(14.0	)			(10.0	)			(11.9	)			(11.1	)			(9.3	)
Geographic Information
Japan			701.9				879.1				1,104.1				799.0				3,484.2				881.2
North America			119.6				169.4				227.4				-10.2				506.3				85.0
Europe			83.0				99.3				103.1				102.5				388.0				124.6
Asia			186.2				224.9				238.4				215.9				865.5				245.9
Other			85.4				104.2				9.2				-0.6				198.3				41.7
Elimination			-55.4				-38.7				-1.5				5.9				-89.6				-70.2
Business Segment
Automotive			945.6				1,301.6				1,472.6				901.5				4,621.4				1,117.9
Financial Services			147.2				97.6				172.0				153.0				570.0				159.7
All Other			40.2				39.5				44.1				51.2				175.2				40.7
Elimination			-12.2				-0.4				-7.9				6.8				-13.8				-9.9
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of yen)			193.3				185.1				217.6				166.9				763.1				164.9				680.0
Income before Income Taxes (billions of yen)			1,720.5				1,800.9				1,835.5				1,608.0				6,965.0				1,872.2				5,070.0
(Income before Income Taxes Ratio) (%)			(16.3	)			(15.7	)			(15.2	)			(14.5	)			(15.4	)			(15.8	)			(11.0	)
Net Income Attributable to Toyota Motor Corporation (billions of yen)			1,311.3				1,278.0				1,357.8				997.6				4,944.9				1,333.3				3,570.0
(Net Income Ratio) (%)			(12.4	)			(11.2	)			(11.3	)			(9.0	)			(11.0	)			(11.3	)			(7.8	)
Dividends
Cash Dividends (billions of yen)			—				405.4				—				606.3				1,011.7				—	(Note 2)
Cash Dividends per Share (yen)			—				30				—				45				75				—
Payout Ratio (%)			—				15.6				—				25.7				20.4				—
Value of Shares Repurchased (billions of yen)[actual purchase]			34.3				82.1				75.0				39.4				231.0				18.9	(Note 3)
Value of Shares Repurchased (billions of yen)[shareholder return]			—				99.9				—				1,000.0				1,099.9				—	(Note 3)  (Note 4)
Number of Outstanding Shares (thousands)			16,314,987				16,314,987				16,314,987				16,314,987				16,314,987				15,794,987

 

Supplemental 2

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Table of Contents

Supplemental Material for Financial Results for FY2025 First Quarter (Consolidated)

< IFRS >

 

		FY2024																				FY2025				FY2025
		1Q (2023/4-6)				2Q (2023/7-9)				3Q (2023/10-12)				4Q (2024/1-3)				12 months (‘23/4-‘24/3)				1Q (2024/4-6)				Forecast 12 months (‘24/4-‘25/3)
R&D Expenses (billions of yen)			294.8				314.0				289.2				304.2				1,202.3				304.6				1,300.0	(Note 5)
Depreciation Expenses (billions of yen)			298.3				303.2				302.9				343.8				1,248.4				352.3				1,380.0	(Note 6)
Geographic Information
Japan			140.7				139.5				133.6				152.8				566.7				148.6
North America			79.4				84.5				91.4				122.4				377.8				120.4
Europe			21.4				23.4				21.3				15.9				82.1				23.4
Asia			46.1				44.6				45.4				45.4				181.6				48.3
Other			10.5				11.1				11.0				7.2				40.0				11.4
Capital Expenditures (billions of yen)			366.6				442.8				486.9				714.4				2,010.8				368.0				2,150.0	(Note 6)
Geographic Information
Japan			144.0				175.2				174.0				354.3				847.6				163.2
North America			154.1				159.5				182.6				226.2				722.5				115.9
Europe			12.5				28.9				23.4				23.9				88.8				17.4
Asia			41.1				54.9				89.4				82.7				268.2				52.6
Other			14.7				24.2				17.3				27.1				83.5				18.6
Total Liquid Assets (billions of yen)			12,287.8				13,808.6				14,143.6				15,079.5				15,079.5				15,585.7	(Note 7)
Total Assets (billions of yen)			80,131.2				83,661.3				84,232.1				90,114.2				90,114.2				94,037.3
Toyota Motor Corporation Shareholders’ Equity (billions of yen)			30,330.0				31,893.1				32,561.6				34,220.9				34,220.9				35,737.7
Return on Equity (%)			17.9				16.4				16.9				12.0				15.8				15.2
Return on Asset (%)			6.8				6.2				6.5				4.6				6.0				5.8
Number of Consolidated Subsidiaries (including Structured Entities)																			577
Number of Associates and Joint Ventures Accounted for Using the Equity Method																			165

 

Analysis of Consolidated Net Income Attributable to Toyota Motor Corporation for FY2025 (billions of yen, approximately)		1Q (2024/4-6)
Marketing Efforts			70.0
Effects of Changes in Exchange Rates			370.0
Cost Reduction Efforts			55.0
From Engineering			35.0
From Manufacturing and Logistics			20.0
Increase or Decrease in Expenses and Expense Reduction Efforts			-225.0
Other			-82.5
(Changes in Operating Income)			187.5
Non-operating Income			-35.8
Share of Profit (Loss) of Investments Accounted for Using the Equity Method			-28.4
Income tax expense, Net Income Attributable to Non-controlling Interests			-129.7
(Changes in Net Income Attributable to Toyota Motor Corporation)			21.9

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 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.

 

(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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FY2025 First Quarter Financial Results

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Cautionary Statement with Respect to Forward-Looking Statements and Caution Concerning Insider Trading This presentation 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), stock prices and interest rates; (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. Caution concerning Insider Trading Under Japanese securities laws and regulations (the “Regulations”), subject to certain exceptions, any person who receives certain material information relating to the business, etc. of Toyota which may be contained in this document is prohibited from trading in Toyota’s shares or certain other transactions related to such shares (as set forth in the Regulations) until such material information is deemed to be made public. Under the Regulations, material information is deemed to be made public when (i) such material information is notified to a stock exchange and is disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service ) or (ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources as prescribed by the Regulations.

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FY2025 First Quarter Results Summary Actual Operating income 1.3 trillion yen (+0.2 trillion yen YoY) ・Despite a decrease in production and sales volume in Japan, there was an increase in profit due to the effects of foreign exchange rates and cost reduction efforts. We will continue to work on maintaining and improving our profit structure.—We would like to express our heartfelt appreciation to our customers around the world who chose us.—Despite the inability to maintain stable production in Japan due to factors such as certification issues and recalls, we achieved an increase in profit thanks to the support of all our stakeholders, including suppliers and dealers.—We will firmly strengthen our foundations and proactively invest in human resources as well as in the future. We will continue to accelerate our activities.

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FY2025 First Quarter Financial Performance

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Consolidated Vehicle Sales (thousands of vehicles) 2,500 2,326 2,252 96.8% Japan 2,000 532 421 79.2% N. America Europe 1,500 682 705 103.3% Asia 1,000 286 291 101.7% Other Central and 417 436 104.5% South America, 500 Oceania, Africa, 408 398 97.4% The Middle East, etc. 0 2023.4-6 2024.4-6 YoY Reference (retail) Toyota and Lexus Vehicle Sales 2,538 2,491 98.1% Electrified Vehicle [%] 868 [34.2%] 1,075 [43.2%] 123.9%    HEV 807 998 123.8% PHEV 31 34 108.5% BEV 29 43 149.5% FCEV 1 0 28.8% Total Retail Vehicle Sales 2,751 2,636 95.8%

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Consolidated Financial Summary (billions of yen) 2023.4-6 2024.4-6 Change Sales Revenues 10,546.8 11,837.8 +1,291.0 Operating Income 1,120.9 1,308.4 +187.5 Margin 10.6% 11.1% Other Income 599.6 563.7 -35.8 Share of Profit (Loss) of Investments 193.3 164.9 * -28.4 Accounted for Using the Equity Method Income before Income Taxes 1,720.5 1,872.2 +151.7 Net Income Attributable to 1,311.3 1,333.3 +21.9 Toyota Motor Corporation Margin 12.4% 11.3% US $ 137 yen 156 yen +19 yen FOREX Rates € 150 yen 168 yen +18 yen * Regarding Japan: 130.0 (+7.6 year on year), China: 14.9 (-39.4 year on year), Other: 19.9 (+3.3 year on year)

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Analysis of Consolidated Operating Income (billions of yen) Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc. -100.0 +55.0 +70.0 -225.0 +370.0 Marketing -82.5 1,308.4 Cost Efforts *2 Increase or 1,120.9 Reduction Other *4 Efforts Decrease in Effects of Expenses and FOREX Expense Reduction Rates *1 Efforts *3 Which includes: Strengthening Foundation of Suppliers/ Materials Prices -40.0 Cost Reduction +95.0 2023.4-6 2024.4-6 137 yen/US$ Operating Income (+187.5) 156 yen/US$ 150 yen/ € 168 yen/ € *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) +310.0 Volume, Model Mix -50.0 Labor Cost -75.0 Valuation Gains / Losses from Swaps, etc. -11.9 —US $ +240.0 Value Chain +40.0 Depreciation Expenses -15.0 Impact of Inflation Accounting, etc. -35.8 —€ +35.0 —Financial Services ±0.0 R&D Expenses -15.0 Other -34.8 —Other +35.0—Accessories / Spare Parts Expenses, etc. -120.0 / +40.0    Used Vehicle / Connected, etc. Translational FOREX Impact Concerning +60.0 Overseas Subsidiaries, etc. Other +80.0

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Geographic Operating Income [ ] Margin Consolidated Vehicle Sales (thousands of vehicles) Operating Income (billions of yen) (excluding Valuation Gains/Losses relating to Swaps, etc.) Japan N. America Europe Asia Other Incl. China (excl. investments accounted 682 705 103.3% for using the equity method of associates and joint ventures) 532 421 79.2% 417 436 104.5% 408 398 97.4% 286 291 101.7% +184.4 700.7 885.2 [13.7%] [16.9%] +57.6 -22.5 +41.7 -46.9 123.3 100.7 123.8 [3.0%] 82.0 [8.2%] 244.6 80.5 [2.0%] 186.9 [11.0%] [6.3%] [7.9%] 33.6 [9.5%] [3.2%] 2023.4-6 2024.4-6 2023.4-6 2024.4-6 2023.4-6 2024.4-6 2023.4-6 2024.4-6 2023.4-6 2024.4-6 Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen 701.9 881.2 119.6 85.0 83.0 124.6 186.2 245.9 85.4    41.7

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China Business / Financial Services (Ref.) China Business Financial Services Operating Income of Consolidated Subsidiaries (billions of yen) Operating Income (billions of yen) Share of Profit of Investments Accounted for Using the Equity Excluding Valuation Gains/Losses relating to Swaps, etc. Method of Associates and Joint Ventures (billions of yen) Toyota and Lexus Vehicle Retail Sales (thousands of vehicles) 499 411 (82.4%) 53.6 +24.4 -9.0 169.0 Effects of Effects of 144.5 Increase in Marketing Loan Balance, Activities, etc. etc. 44.6 54.3 -39.4 Effects of Marketing Activities, etc. 14.9 2023.4-6 2024.4-6 2023.4-6 2024.4-6 Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen) 147.2 159.7

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(Ref.) Transition of Financial Performance Net Income Attributable to Consolidated Vehicle Sales Sales Revenues (trillions of yen) Operating Income (billions of yen) Toyota Motor Corporation (thousands of vehicles) Operating Margin (%) (billions of yen) 45.0 46.0 11.9 Net Margin (%) 9,443 9,500 9.3 11.0 8,822 9.5 8,230 8.1 8.3 9.1 7,646 37.2 7.3 7.8 5,352.9 6.6 31.3 4,944.9 4,300.0 27.2 3,570.0 2,995.6 2,850.1 2,725.0 2,197.7 2,245.2 2,451.3 2021.3 2022.3 2023.3 2024.3 2025.3 2021.3 2022.3 2023.3 2024.3 2025.3 2021.3 2022.3 2023.3 2024.3 2025.3 2021.3 2022.3 2023.3 2024.3 2025.3 Total Liquid Assets*1 Total Shareholder Return R&D Expenses*4 (billions of yen) Capital Expenditures (billions of yen) (billions of yen) Dividend per Share(billions (yen) *3 of yen) Ratio to Sales Revenues (%) Depreciation Expenses 15,585.7 4.0 2,150.0 15,079.5 60 75 3.6 2,010.8 48 52 Interest- 3.3 2,111.7 2.8 11,579.4 11,313.7 Bearing 2.7 10,517.3 Debt*2 1,300.0 1,605.8 13,086.2 Share 1,241.6 1,202.3 1,343.0 Repurchase 1,124.2 1,293.2 1,248.4 12,651.6 Net Liquid 1,153.8 1,090.4 1,185.0 1,116.9 1,380.0 8,341.3 9,027.7 Assets 921.0 1,007.2 8,051.4 1,011.7 Dividend 876.9 718.2 816.9 671.0 2021.3 2022.3 2023.3 2024.3 2024.6 2021.3 2022.3 2023.3 2024.3 2021.3 2022.3 2023.3 2024.3 2025.3 2021.3 2022.3 2023.3 2024.3 2025.3 *1 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. *2 Not including lease liabilities Forecast *3 Dividends per common share on a post-stock split (a five-for-one stock split of shares of our common stock that was conducted on October 1, 2021) basis *4 R&D activity related expenditures incurred during the reporting period 10

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(Ref.) Definitions of Consolidated and Retail Vehicle Sales Daihatsu- and Hino- brand vehicles Distributors or Total Consolidated Dealers Retail Vehicle Vehicle Customers outside Toyota Sales and Sales Number of vehicles produced for wholesale by Toyota Motor Corporation and its consolidated subsidiaries Lexus Number of vehicles produced for wholesale by Toyota’s consolidation Vehicle unconsolidated entities (e.g. joint ventures in China, etc.)Sales *There are a limited number of exceptional cases where sales are made other than in accordance with the flowchart above. 11

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