Toyota Motor (TM) 6-K Report of Foreign Private Issuer

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

FY2018 First Quarter

(April 1, 2017 through June 30, 2017)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

            FY2018 First Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

English translation from the original Japanese-language document

August 4, 2017

Company name	:	Toyota Motor Corporation
Stock exchanges on which the shares are listed	:	Tokyo, Nagoya, Sapporo and Fukuoka Stock Exchanges in Japan
Code number	:	7203
URL Representative	: :	http://www.toyota.co.jp Akio Toyoda, President
Contact person	:	Kenta Kon, General Manager, Accounting DivisionTel. (0565)28-2121
Filing date of quarterly securities report	:	August 10, 2017
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 FY2018 First Quarter (April 1, 2017 through June 30, 2017)

(1) Consolidated financial results (For the three months ended June 30)

	(% of change from previous first quarter)
	Net revenues				Operating income				Income before income taxes and equity in earnings  of affiliated companies				Net income attributable  to Toyota Motor Corporation
	Million yen		%		Million yen		%		Million yen		%		Million yen		%
FY2018 first quarter		7,047,606		7.0		574,294		-10.6		679,348		0.3		613,056		11.0
FY2017 first quarter		6,589,113		-5.7		642,230		-15.0		677,056		-19.9		552,465		-14.5

(Note)    Comprehensive income: FY2018 first quarter 708,604��million yen ( — %), FY2017 first quarter-139,479 million yen ( — %)

	Net income attributable to Toyota Motor Corporation  per common share – Basic		Net income attributable to Toyota Motor Corporation  per common share – Diluted
	Yen		Yen
FY2018 first quarter		205.05		202.84
FY2017 first quarter		181.12		179.11

(2) Consolidated financial position

	Total assets		Mezzanine equity and Shareholders’ equity		Toyota Motor  Corporation shareholders’ equity		Ratio of Toyota  Motor Corporation shareholders’ equity
	Million yen		Million yen		Million yen		%
FY2018 first quarter		49,456,031		19,023,803		17,874,283		36.1
FY2017		48,750,186		18,668,953		17,514,812		35.9

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
FY2017		—		100.00		—		110.00		210.00
FY2018		—
FY2018 (forecast)				—		—		—		—

(Note)	Revisions to the forecast of cash dividends since the latest announcement: none
	Please refer to “(Reference) Cash Dividends on Class Shares” for information regarding cash dividends on class shares, which are unlisted and have different rights from common stock.

3. Forecast of Consolidated Results for FY2018 (April 1, 2017 through March 31, 2018)

	(% of change from FY2017)
	Net revenues				Operating income				Income before income taxes and equity in earnings  of affiliated companies				Net income attributable to Toyota Motor Corporation				Net income attributable to Toyota Motor Corporation per  common share – Basic
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Yen
Full-year		28,500,000		3.3		1,850,000		-7.2		2,050,000		-6.6		1,750,000		-4.4		584.06

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

Notes

(1) Changes in significant subsidiaries during the current quarter

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

(2) Simplified accounting procedures and specific accounting procedures: yes

Note: For more details, please see page 7 “Other Information”.

(3) Changes in accounting policies

(i) Changes by a newly issued accounting pronouncement: yes

(ii) Changes other than (3)-(i) above: none

Note: For more details, please see page 7 “Other Information”.

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

(i) Number of shares issued and outstanding at the end of each period (including treasury stock): FY2018 first quarter 3,262,997,492 shares, FY2017 3,262,997,492 shares

(ii) Number of treasury stock at the end of each period: FY2018 first quarter 288,112,262 shares,

FY2017 288,274,636 shares

(iii) Average number of shares issued and outstanding in each period: FY2018 first quarter 2,974,749,507 shares,

FY2017 first quarter 3,036,810,471 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, 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 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 Form20-F, which is on file with the United States Securities and Exchange Commission.

This report contains summarized and condensed financial information prepared in accordance with U.S. generally accepted accounting principles.

(Reference) Cash Dividends on Class Shares

Cash dividends on class shares, which have different rights from common stock, are as follows:

	Annual cash dividends per First Series Model AA Class  Share
	End of first quarter		End of second quarter		End of third quarter		Year-end		Total
	Yen		Yen		Yen		Yen		Yen
FY2017		—		52.50		—		52.50		105.00
FY2018		—
FY2018 (forecast)				—		—		—		—

(Note) The First Series Model AA Class Shares were issued in July 2015.

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

TABLE OF CONTENTS

1.  Consolidated Financial Statements	2
(1) Consolidated Balance Sheets	2
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	4
(3) Consolidated Statements of Cash Flows	6
(4) Going Concern Assumption	7
(5) Significant Changes in Shareholders’ Equity	7
2.  Other Information	7
(1) Changes in significant subsidiaries during the current period	7
(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements	7
(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements	7
Supplemental Material for Financial Results for FY2018 First Quarter

1

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

1. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Yen in millions)
	FY2017 (March 31, 2017)			FY2018 first quarter (June 30, 2017)			Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents		2,995,075			2,940,829			(54,246	)
Time deposits		1,082,654			1,057,514			(25,140	)
Marketable securities		1,821,598			1,928,268			106,670
Trade accounts and notes receivable, less allowance for doubtful accounts		2,115,938			1,959,874			(156,064	)
Finance receivables, net		6,196,649			6,385,291			188,642
Other receivables		436,867			466,736			29,869
Inventories		2,388,617			2,456,712			68,095
Prepaid expenses and other current assets		796,297			867,313			71,016
Total current assets		17,833,695			18,062,537			228,842
Noncurrent finance receivables, net		9,012,222			9,211,844			199,622
Investments and other assets:
Marketable securities and other securities investments		7,679,928			7,942,459			262,531
Affiliated companies		2,845,639			2,811,012			(34,627	)
Employees receivables		25,187			24,471			(716	)
Other		1,156,406			1,165,965			9,559
Total investments and other assets		11,707,160			11,943,907			236,747
Property, plant and equipment:
Land		1,379,991			1,380,787			796
Buildings		4,470,996			4,505,738			34,742
Machinery and equipment		11,357,340			11,446,117			88,777
Vehicles and equipment on operating leases		5,966,579			6,038,577			71,998
Construction in progress		474,188			462,735			(11,453	)
Total property, plant and equipment, at cost		23,649,094			23,833,954			184,860
Less – Accumulated depreciation		(13,451,985	)		(13,596,211	)		(144,226	)
Total property, plant and equipment, net		10,197,109			10,237,743			40,634
Total assets		48,750,186			49,456,031			705,845

2

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

	(Yen in millions)
	FY2017   (March 31, 2017)			FY2018 first quarter (June 30, 2017)			Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings		4,953,682			5,111,938			158,256
Current portion of long-term debt		4,290,449			4,145,484			(144,965	)
Accounts payable		2,566,382			2,329,333			(237,049	)
Other payables		936,938			858,269			(78,669	)
Accrued expenses		3,137,827			3,178,003			40,176
Income taxes payable		223,574			237,223			13,649
Other current liabilities		1,210,113			1,324,386			114,273
Total current liabilities		17,318,965			17,184,636			(134,329	)
Long-term liabilities:
Long-term debt		9,911,596			10,320,161			408,565
Accrued pension and severance costs		905,070			908,661			3,591
Deferred income taxes		1,423,726			1,482,910			59,184
Other long-term liabilities		521,876			535,860			13,984
Total long-term liabilities		12,762,268			13,247,592			485,324
Total liabilities		30,081,233			30,432,228			350,995
Mezzanine equity
Model AA Class Shares, no par value, authorized: 150,000,000 shares at March 31, 2017 and June 30, 2017 issued: 47,100,000 shares at March 31, 2017 and June 30, 2017		485,877			486,477			600
Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2017 and June 30, 2017 issued: 3,262,997,492 shares at March 31, 2017 and June 30, 2017		397,050			397,050			—
Additionalpaid-in capital		484,013			485,876			1,863
Retained earnings		17,601,070			17,883,709			282,639
Accumulated other comprehensive income (loss)		640,922			714,983			74,061
Treasury stock, at cost, 288,274,636 shares at March 31, 2017 and 288,112,262 shares at June 30, 2017		(1,608,243	)		(1,607,335	)		908
Total Toyota Motor Corporation shareholders’ equity		17,514,812			17,874,283			359,471
Noncontrolling interests		668,264			663,043			(5,221	)
Total shareholders’ equity		18,183,076			18,537,326			354,250
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders’ equity		48,750,186			49,456,031			705,845

Note: The total number of authorized shares for common stock and Model AA Class Shares is 10,000,000,000 shares.

3

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

First quarter for the three months ended June 30

Consolidated Statements of Income

	(Yen in millions)
	FY2017 first  quarter (Three months ended June 30, 2016)			FY2018 first quarter (Three months ended June 30, 2017)			Increase (Decrease)
Net revenues:
Sales of products		6,159,004			6,578,122			419,118
Financing operations		430,109			469,484			39,375
Total net revenues		6,589,113			7,047,606			458,493
Costs and expenses:
Cost of products sold		5,013,808			5,442,731			428,923
Cost of financing operations		265,418			310,332			44,914
Selling, general and administrative		667,657			720,249			52,592
Total costs and expenses		5,946,883			6,473,312			526,429
Operating income		642,230			574,294			(67,936	)
Other income (expense):
Interest and dividend income		56,761			66,760			9,999
Interest expense		(4,923	)		(4,388	)		535
Foreign exchange gain (loss), net		(29,305	)		22,791			52,096
Other income (loss), net		12,293			19,891			7,598
Total other income (expense)		34,826			105,054			70,228
Income before income taxes and equity in earnings of affiliated companies		677,056			679,348			2,292
Provision for income taxes		187,825			185,398			(2,427	)
Equity in earnings of affiliated companies		90,000			137,802			47,802
Net income		579,231			631,752			52,521
Less – Net income attributable to noncontrolling interests		(26,766	)		(18,696	)		8,070
Net income attributable to Toyota Motor Corporation		552,465			613,056			60,591

Note:   Net income attributable to common shareholders for the first three months ended June 30, 2017 and 2016 is 609,983 million yen and 550,016 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 3,073 million yen and 2,449 million yen, respectively, from Net income attributable to Toyota Motor Corporation.

	(Yen)
Net income attributable to Toyota Motor Corporation per common share			`
Basic		181.12	205.05	23.93
Diluted		179.11	202.84	23.73

4

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

Consolidated Statements of Comprehensive Income

	(Yen in millions)
	FY2017 first quarter (Three months ended June 30, 2016)			FY2018 first quarter (Three months ended June 30, 2017)			Increase (Decrease)
Net income		579,231			631,752			52,521
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		(449,900	)		15,288			465,188
Unrealized gains (losses) on securities		(265,202	)		62,894			328,096
Pension liability adjustments		(3,608	)		(1,330	)		2,278
Total other comprehensive income (loss)		(718,710	)		76,852			795,562
Comprehensive income (loss)		(139,479	)		708,604			848,083
Less – Comprehensive income attributable to noncontrolling interests		4,267			(21,487	)		(25,754	)
Comprehensive income (loss) attributable to Toyota Motor Corporation		(135,212	)		687,117			822,329

5

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

(3) Consolidated Statements of Cash Flows

	(Yen in millions)
	FY2017 first quarter (Three months ended June 30, 2016)			FY2018 first quarter (Three months ended June 30, 2017)
Cash flows from operating activities:
Net income		579,231			631,752
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		382,289			400,618
Provision for doubtful accounts and credit losses		11,909			15,365
Pension and severance costs, less payments		10,359			(1,627	)
Losses on disposal of fixed assets		7,130			10,531
Unrealized losses onavailable-for-sale securities, net		776			1
Deferred income taxes		10,842			24,607
Equity in earnings of affiliated companies		(90,000	)		(137,802	)
Changes in operating assets and liabilities, and other		265,677			128,920
Net cash provided by operating activities		1,178,213			1,072,365
Cash flows from investing activities:
Additions to finance receivables		(3,188,383	)		(3,649,396	)
Collection of and proceeds from sales of finance receivables		3,156,628			3,415,515
Additions to fixed assets excluding equipment leased to others		(343,480	)		(281,402	)
Additions to equipment leased to others		(616,586	)		(591,088	)
Proceeds from sales of fixed assets excluding equipment leased to others		7,812			9,995
Proceeds from sales of equipment leased to others		315,408			296,860
Purchases of marketable securities and security investments		(632,924	)		(865,643	)
Proceeds from sales of and maturity of marketable securities and security investments		395,438			635,292
Changes in investments and other assets, and other		347,379			12,089
Net cash used in investing activities		(558,708	)		(1,017,778	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		1,218,630			1,200,362
Payments of long-term debt		(1,126,169	)		(1,083,297	)
Increase in short-term borrowings		254,921			123,934
Dividends paid to Toyota Motor Corporation class shareholders		(1,224	)		(2,473	)
Dividends paid to Toyota Motor Corporation common shareholders		(334,144	)		(327,220	)
Dividends paid to noncontrolling interests		(29,163	)		(21,681	)
Reissuance (repurchase) of treasury stock		(147,334	)		653
Net cash used in financing activities		(164,483	)		(109,722	)
Effect of exchange rate changes on cash and cash equivalents		(120,192	)		889
Net increase (decrease) in cash and cash equivalents		334,830			(54,246	)
Cash and cash equivalents at beginning of period		2,939,428			2,995,075
Cash and cash equivalents at end of period		3,274,258			2,940,829

Note: In the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, bank deposits that can be withdrawn at any time and short-term investments that can be converted into cash at any time and carry minimal risk of change in value.

6

TOYOTA MOTOR CORPORATION    FY2018 First Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

(4) Going Concern Assumption

None

(5) Significant Changes in Shareholders’ Equity

None

2. Other Information

(1) Changes in significant subsidiaries during the current period

(Changes in specified subsidiaries that caused a change in the scope of consolidation)

None

(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements

Provision for income taxes

The provision for income taxes is computed by multiplying income before income taxes and equity in earnings of affiliated companies for the first quarter by estimated annual effective tax rates. These estimated annual effective tax rates reflect anticipated investment tax credits, foreign tax credits and other items, including changes in valuation allowances, that are expected to affect estimated annual effective tax rates.

(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements

In July 2015, the Financial Accounting Standards Board issued updated guidance to simplify the measurement of inventory. The parent company and its consolidated subsidiaries (“Toyota”) adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

7

Supplemental Material for Financial Results for FY2018 First Quarter (Consolidated)

< U.S. GAAP >

	FY2017															FY2018			FY2018
	1Q (2016/4-6)			2Q (2016/7-9)			3Q (2016/10-12)			4Q (2017/1-3)			12 months (’16/4-’17/3)			1Q (2017/4-6)			Forecast 12  months (’17/4-’18/3)
Vehicle Production (thousands of units)		2,149			2,240			2,240			2,347			8,975			2,216
(Japan) – including Daihatsu & Hino		934			1,059			1,013			1,104			4,109			1,023
[Daihatsu & Hino]		[194	]		[215	]		[236	]		[277	]		[921	]		[266	]
(Overseas) – including Daihatsu & Hino		1,215			1,181			1,227			1,243			4,866			1,193
[Daihatsu & Hino]		[86	]		[95	]		[114	]		[105	]		[400	]		[92	]
North America		527			508			494			534			2,063			509
Europe		144			135			175			183			637			176
Asia		420			409			434			411			1,674			383
Central and South America		69			69			76			68			282			79
Oceania		21			27			22			19			88			20
Africa		34			33			26			28			122			26
Vehicle Sales (thousands of units)		2,172			2,191			2,280			2,327			8,971			2,215			8,900
[First Half 6 months]														[4,363	]					[4,380	]
(Japan) – including Daihatsu & Hino		511			567			534			661			2,274			544			2,250
[Daihatsu & Hino]		[132	]		[146	]		[150	]		[195	]		[623	]		[164	]		[670	]
(Overseas) – including Daihatsu & Hino		1,661			1,624			1,746			1,666			6,697			1,671			6,650
[Daihatsu & Hino]		[72	]		[70	]		[82	]		[78	]		[302	]		[71	]		[300	]
North America		715			684			745			692			2,837			723			2,780
Europe		222			212			233			257			925			240			940
Asia		384			381			428			395			1,588			363			1,560
Central and South America		101			110			103			96			409			108			410
Oceania		64			65			66			66			260			74			280
Africa		43			47			44			46			180			42			190
Middle East		130			124			125			113			491			119			490
Other		2			1			2			1			7			2
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		2,529			2,538			2,645			2,539			10,251			2,590			10,250
Housing Sales (units)		1,185			1,611			1,282			6,243			10,321			2,312			17,500

Supplemental 1

Supplemental Material for Financial Results for FY2018 First Quarter (Consolidated)

< U.S. GAAP >

	FY2017															FY2018			FY2018
	1Q (2016/4-6)			2Q (2016/7-9)			3Q (2016/10-12)			4Q (2017/1-3)			12 months (’16/4-’17/3)			1Q (2017/4-6)			Forecast 12  months (’17/4-’18/3)
Foreign Exchange Rates
Yen to US Dollar Rate		108			102			109			114			108			111			as premise: 110
Yen to Euro Rate		122			114			118			121			119			122			as premise: 124
Market Share (Japan)
Toyota(excluding Mini-Vehicles) (%)		49.7			49.3			47.9			45.3			47.8			49.3			approximately: 47.0
Toyota, Daihatsu and Hino (including Mini-Vehicles) (%)		47.0			46.1			45.3			42.6			45.0			46.2
Number of Employees		354,974			355,264			357,072			364,445			364,445			371,888	(Note 1)
Net Revenues (billions of yen)		6,589.1			6,481.4			7,084.1			7,442.4			27,597.1			7,047.6			28,500.0
Geographic Information
Japan		3,361.4			3,619.0			3,772.4			4,077.9			14,830.8			3,686.3
North America		2,534.5			2,341.8			2,712.2			2,650.4			10,239.0			2,661.4
Europe		621.8			604.0			675.2			779.8			2,681.0			761.5
Asia		1,182.6			1,118.9			1,261.2			1,257.0			4,819.8			1,196.7
Other		521.5			525.0			559.9			554.5			2,161.0			612.4
Elimination		-1,632.8			-1,727.5			-1,896.9			-1,877.3			-7,134.7			-1,870.8
Business Segment
Automotive		6,029.0			5,908.9			6,469.5			6,674.2			25,081.8			6,368.6
Financial Services		438.9			432.0			476.0			476.6			1,823.6			503.7
All Other		249.0			283.8			276.0			512.1			1,321.0			337.9
Elimination		-127.8			-143.4			-137.4			-220.5			-629.3			-162.8
Operating Income (billions of yen)		642.2			474.6			438.5			438.9			1,994.3			574.2			1,850.0
(Operating Income Ratio) (%)		(9.7	)		(7.3	)		(6.2	)		(5.9	)		(7.2	)		(8.1	)		(6.5	)
Geographic Information
Japan		290.3			194.3			209.3			508.2			1,202.2			319.2
North America		171.4			139.8			70.6			-70.7			311.1			89.2
Europe		9.0			25.5			18.1			-64.9			-12.2			20.3
Asia		127.4			95.3			124.6			87.7			435.1			104.3
Other		27.3			25.5			24.1			-18.3			58.6			38.6
Elimination		16.6			-5.9			-8.3			-3.0			-0.6			2.4
Business Segment
Automotive		543.4			393.9			382.7			372.8			1,692.9			489.3
Financial Services		90.2			61.9			42.6			27.5			222.4			75.3
All Other		10.3			16.9			16.5			37.5			81.3			13.6
Elimination		-1.7			1.8			-3.3			0.9			-2.3			-4.0
Income before Income Taxes (billions of yen)		677.0			499.4			587.5			429.7			2,193.8			679.3			2,050.0
(Income before Income Taxes Ratio) (%)		(10.3	)		(7.7	)		(8.3	)		(5.8	)		(7.9	)		(9.6	)		(7.2	)
Equity in Earnings of Affiliated Companies (billions of yen)		90.0			78.3			89.6			104.0			362.0			137.8			380.0
Net Income (billions of yen)		552.4			393.7			486.5			398.4			1,831.1			613.0			1,750.0	(Note 2)
(Net Income Ratio) (%)		(8.4	)		(6.1	)		(6.9	)		(5.4	)		(6.6	)		(8.7	)		(6.1	)
Dividends
Common Shares
Cash Dividends (billions of yen)		—			300.3			—			327.2			627.5			—	(Note 3)
Cash Dividends per Share (yen)		—			100			—			110			210			—
Payout Ratio (%)		—			32.1			—			37.3			34.6			—
Model AA Class Shares
Cash Dividends (billions of yen)		—			2.4			—			2.4			4.9			—	(Note 3)
Cash Dividends per Share (yen)		—			52.5			—			52.5			105			—
Value of Shares Repurchased (billions of yen) [actual purchase]		147.7			352.2			104.7			95.1			699.9			—	(Note 4)
Value of Shares Repurchased (billions of yen) [shareholder return]		—			199.9			—			250.0 (maximum	)		449.9 (maximum	)		—	(Note 4)  (Note 5)
Number of Shares Canceled (thousands)		—			—			75,000			—			75,000			—	(Note 6)
Number of Outstanding Common Shares (thousands)		3,337,997			3,337,997			3,262,997			3,262,997			3,262,997			3,262,997
Number of Outstanding Model AA Class Shares (thousands)		47,100			47,100			47,100			47,100			47,100			47,100

Supplemental 2

Supplemental Material for Financial Results for FY2018 First Quarter (Consolidated)

< U.S. GAAP >

	FY2017										FY2018			FY2018
	1Q (2016/4-6)		2Q (2016/7-9)		3Q (2016/10-12)		4Q (2017/1-3)		12 months (’16/4-’17/3)		1Q (2017/4-6)			Forecast 12  months (’17/4-’18/3)
R&D Expenses (billions of yen)		274.1		258.2		261.5		243.5		1,037.5		278.6			1,060.0
Depreciation Expenses (billions of yen)		205.8		215.1		225.3		246.9		893.2		212.9			960.0	(Note 7)
Geographic Information
Japan		111.9		120.2		125.4		139.6		497.2		108.4			530.0
North America		42.0		43.1		44.0		49.1		178.4		45.5			200.0
Europe		11.1		11.7		13.3		14.0		50.3		15.4			60.0
Asia		32.2		31.5		33.1		34.8		131.7		34.1			130.0
Other		8.4		8.3		9.3		9.3		35.4		9.2			40.0
Capital Expenditures (billions of yen)		253.3		257.8		268.2		432.3		1,211.8		205.7			1,320.0	(Note 7)
Geographic Information
Japan		135.1		137.3		133.7		233.9		640.2		112.5			680.0
North America		70.1		85.3		84.4		134.5		374.5		65.3			340.0
Europe		10.8		12.9		12.8		22.3		58.9		4.8			70.0
Asia		29.1		14.4		29.2		30.2		103.1		13.3			140.0
Other		8.0		7.7		7.9		11.2		34.9		9.6			90.0
Total Liquid Assets (billions of yen)		8,700.2		8,469.6		8,819.3		9,199.5		9,199.5		9,364.0	(Note 8)
Total Assets (billions of yen)		44,524.3		43,776.1		48,111.4		48,750.1		48,750.1		49,456.0
Toyota Motor Corporation Shareholders’ Equity (billions of yen)		16,127.8		16,391.9		17,293.2		17,514.8		17,514.8		17,874.2
Return on Equity (%)		13.4		9.6		11.5		9.1		10.6		13.8
Return on Asset (%)		4.8		3.6		4.2		3.3		3.8		5.0
Number of Consolidated Subsidiaries (including Variable Interest Entities)										597
No. of Affil. Accounted for Under the Equity Method										54

Analysis of Consolidated Net Income for FY2018(Note 2) (billions of yen, approximately)	1Q (2017/4-6)
Effects of Marketing Activities		-30.0
Effects of Changes in Exchange Rates		-35.0
Cost Reduction Efforts		50.0
From Engineering		40.0
From Manufacturing and Logistics		10.0
Increases in Expenses, etc.		-45.0
Other		-7.9
(Changes in Operating Income)		-67.9
Non-operating Income		70.2
Equity in Earnings of Affiliated Companies		47.8
Income Taxes, Net Income Attributable to Noncontrolling Interests		10.4
(Changes in Net Income)(Note 2)		60.5

Translational impacts concerning operating income of overseas subsidiaries and concerning provisions in foreign currencies are included in “Effects of Changes in Exchange Rates”.

Supplemental 3

Supplemental Material for Financial Results for FY2018 First Quarter (Unconsolidated)

< Japan GAAP >

	FY2017															FY2018			FY2018
	1Q (2016/4-6)			2Q (2016/7-9)			3Q (2016/10-12)			4Q (2017/1-3)			12 months (’16/4-’17/3)			1Q (2017/4-6)			Forecast 12 months (’17/4-’18/3)
Toyota & Lexus brand
Domestic Vehicle Production (thousands of units)		740			844			777			827			3,188			757			3,180
Overseas Vehicle Production (thousands of units)		1,494			1,422			1,477			1,498			5,891			1,464			5,720
Domestic Vehicle Retail Sales (thousands of units)		366			413			382			475			1,636			390			1,580
Exports Vehicle Sales (thousands of units)		393			456			462			415			1,726			440			1,800
North America		160			175			201			170			706			190			770
Europe		60			73			65			66			264			57			250
Asia		59			77			74			57			267			72			280
Central and South America		10			14			11			14			49			12			50
Oceania		36			43			35			40			154			40			170
Africa		13			15			14			11			53			14			50
Middle East		54			57			61			55			227			53			230
Other		1			2			1			2			6			2
Net Revenues (billions of yen)		2,644.8			2,854.8			2,978.2			2,998.3			11,476.3			2,870.2			11,600.0
Domestic		939.6			1,036.7			973.2			1,135.9			4,085.5			962.8
Exports		1,705.2			1,818.0			2,004.9			1,862.3			7,390.7			1,907.3
Operating Income (billions of yen)		243.6			116.3			118.3			358.8			837.2			222.4			880.0
(Operating Income Ratio) (%)		(9.2	)		(4.1	)		(4.0	)		(12.0	)		(7.3	)		(7.8	)		(7.6	)
Ordinary Income (billions of yen)		479.2			383.3			552.8			386.3			1,801.7			570.7			1,800.0
(Ordinary Income Ratio) (%)		(18.1	)		(13.4	)		(18.6	)		(12.9	)		(15.7	)		(19.9	)		(15.5	)
Net Income (billions of yen)		406.8			331.1			479.1			312.7			1,529.9			488.1			1,540.0
(Net Income Ratio) (%)		(15.4	)		(11.6	)		(16.1	)		(10.4	)		(13.3	)		(17.0	)		(13.3	)
R&D Expenses (billions of yen)		237.4			226.4			232.9			212.8			909.6			241.6			920.0
Depreciation Expenses (billions of yen)		57.5			55.6			50.4			49.0			212.6			58.4			240.0
Capital Expenditures (billions of yen)		64.9			56.8			63.1			109.6			294.5			54.0			300.0

Analysis of Unconsolidated Net Income for FY2018 (billions of yen, approximately)		1Q (2017/4-6)
Marketing Efforts			20.0
Effects of Changes in Exchange Rates			-30.0
Cost Reduction Efforts			35.0
	From Engineering		30.0
	From Manufacturing and Logistics		5.0
Increases in Expenses, etc.			-45.0
Other			-1.1
(Changes in Operating Income)			-21.1
Non-operating Income			112.6
Income Taxes, etc.			-10.2
(Changes in Net Income)			81.3

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, 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 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 Form20-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 and its consolidated subsidiaries (“Toyota”) to outside Toyota and including loan employees from outside Toyota to Toyota)

(Note 2) Shows “Net income attributable to Toyota Motor Corporation”

(Note 3) 2Q= Interim Dividend, 4Q=Year-end Dividend, FY= Annual Dividend

(Note 4) Value of common shares repurchased (excluding shares constituting less than one unit that were purchased upon request)

(Note 5) Value of common shares repurchased (shareholder return on Net Income for the period)

(Note 6) Number of common shares canceled

(Note 7) Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease

(Note 8) Excludes financial subsidiaries

Translational impacts concerning operating income of overseas subsidiaries and concerning provisions in foreign currencies are included in “Effects of Changes in Exchange Rates”.

Supplemental 4