Toyota Motor 6K Report of Foreign Private Issuer | TM 9 May 18

FINANCIAL SUMMARY

FY2018

(April 1, 2017 through March 31, 2018)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2018 Consolidated Financial Results

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

English translation from the original Japanese-language document

May 9, 2018


Company name	:	Toyota Motor Corporation
Stock exchanges on which the shares are listed	:	Tokyo and Nagoya Stock Exchanges in Japan
Code number	:	7203
URL	:	http://www.toyota.co.jp
Representative	:	Akio Toyoda, President
Contact person	:	Kenta Kon, General Manager, Accounting Division Tel.(0565)28-2121
Date of the ordinary general shareholders’ meeting	:	June 14, 2018
Payment date of cash dividends	:	May 25, 2018
Filing date of financial statements	:	June 25, 2018
Supplemental materials prepared for financial results	:	yes
Earnings announcement for financial results	:	yes

(Amounts are rounded to the nearest million yen for consolidated results)

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

(1)	Consolidated financial results


	(% of change from previous year)
	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		29,379,510		6.5		2,399,862		20.3		2,620,429		19.4		2,493,983		36.2
FY2017		27,597,193		-2.8		1,994,372		-30.1		2,193,825		-26.5		1,831,109		-20.8

Note: Comprehensive income FY2018 2,393,256 million yen ( 21.7 %), FY2017 1,966,650 million yen ( 29.6 %)


	Net income attributable to Toyota Motor Corporation per common share – Basic		Net income attributable to Toyota Motor Corporation per common share – Diluted		Ratio of net income attributable to Toyota Motor Corporation to Toyota Motor Corporation shareholders’ equity		Ratio of income before income taxes and equity in earnings of affiliated companies to total assets		Ratio of operating income to net revenues
	Yen		Yen		%		%		%
FY2018		842.00		832.78		13.7		5.3		8.2
FY2017		605.47		599.22		10.6		4.6		7.2

Reference: Equity in earnings of affiliated companies FY2018 470,083 million yen, FY2017 362,060 million yen

(2)	Consolidated financial position


	Total assets		Mezzanine equity and Shareholders’ equity		Toyota Motor Corporation shareholders’ equity		Ratio of Toyota Motor Corporation shareholders’ equity		Toyota Motor Corporation shareholders’ equity per share
	Million yen		Million yen		Million yen		%		Yen
FY2018		50,308,249		19,922,076		18,735,982		37.2		6,438.65
FY2017		48,750,186		18,668,953		17,514,812		35.9		5,887.88

(3)	Consolidated cash flows


	From operating activities		From investing activities		From financing activities		Cash and cash equivalents at end of year
	Million yen		Million yen		Million yen		Million yen
FY2018		4,210,009		-3,660,092		-449,135		3,052,269
FY2017		3,414,237		-2,969,939		-375,165		2,995,075

2.	Cash Dividends


	Annual cash dividends per common share										Total amount of cash dividends (annual)			Dividends payout ratio (consolidated)		Ratio of total amount of dividends to Toyota Motor Corporation shareholders’ equity (consolidated)
	End of first quarter		End of second quarter		End of third quarter		Year-end		Total		Total amount of cash dividends (annual)			Dividends payout ratio (consolidated)
	Yen		Yen		Yen		Yen		Yen		Million yen			%		%
FY2017		—		100.00		—		110.00		210.00		627,551	��		34.6		3.7
FY2018		—		100.00		—		120.00		220.00		642,669			26.1		3.6
FY2019 (forecast)		—		—		—		—		—					—

Note: 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 FY2019 (April 1, 2018 through March 31, 2019)


	(% of change from FY2018)
	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		29,000,000		-1.3		2,300,000		-4.2		2,450,000		-6.5		2,120,000		-15.0		723.39

Notes

(1)	Changes in significant subsidiaries during FY2018

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

(2)	Changes in accounting principles, procedures, and disclosures during FY2018

(i)

Changes by a newly issued accounting pronouncement: yes

(ii)

Changes other than (2)-(i) above: yes

Note: For more details, please see page 14 “(6) Summary of Significant Accounting Policies.”

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

(i)

Number of shares issued and outstanding at the end of each fiscal year (including treasury stock):

FY2018 3,262,997,492 shares, FY2017 3,262,997,492 shares

(ii)

Number of treasury stock at the end of each fiscal year: FY2018 353,073,500 shares, FY2017 288,274,636 shares

(iii)

Average number of shares issued and outstanding in each fiscal year: FY2018 2,947,365,044 shares, FY2017 3,008,088,275 shares

Reference: Overview of the Unconsolidated Financial Results

FY2018 Unconsolidated Financial Results

(Unconsolidated financial information has been prepared in accordance with Japanese generally accepted accounting principles)

English translation from the original Japanese-language document

(Amounts less than one million yen are omitted for unconsolidated results)

1.	Unconsolidated Results for FY2018 (April 1, 2017 through March 31, 2018)

(1)	Unconsolidated financial results


	(% of change from previous year)
	Net revenues		Operating income		Ordinary income		Net income
	Million yen	%	Million yen	%	Million yen	%	Million yen	%
FY2018	12,201,443	6.3	1,257,543	50.2	2,238,140	24.2	1,859,312	21.5
FY2017	11,476,343	-0.9	837,204	-40.3	1,801,736	-21.1	1,529,911	-15.5

	Net income per common share – Basic		Net income per common share – Diluted
	Yen		Yen
FY2018	628.31		620.85
FY2017	506.96		500.65

(2)	Unconsolidated financial position


	Total assets		Net assets		Equity ratio		Net assets per common share
		Million yen		Million yen		%		Yen
FY2018		17,522,303		12,040,947		68.7		3,972.72
FY2017		16,592,167		11,365,784		68.5		3,659.40

Reference: Equity at the end of FY2018: 12,040,742 million yen, Equity at the end of FY2017: 11,364,877 million yen

2.	Forecast of Unconsolidated Results for FY2019 (April 1, 2018 through March 31, 2019)


	(% of change from FY2018)
	Net revenues				Operating income				Ordinary income				Net income				Net income per common share – Basic
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Yen
Full-year		11,900,000		-2.5		1,070,000		-14.9		1,850,000		-17.3		1,520,000		-18.2		518.94

This report is not audited.

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.

Consolidated financial information in this report is 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		—		79.00		—		79.00		158.00
FY2019 (forecast)		—		—		—		—		—

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

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

TABLE OF CONTENTS


1. Financial Results and Position		2
(1) Consolidated Financial Results for FY2018		2
(2) Consolidated Financial Position for FY2018		4
(3) Forecast of Consolidated Financial Results for FY2019		5

2. Basic Concept Regarding the Selection of Accounting Standards		6

3. Consolidated Financial Statements		7
(1) Consolidated Balance Sheets		7
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income		9
(3) Consolidated Statements of Shareholders’ Equity		11
(4) Consolidated Statements of Cash Flows		12
(5) Going Concern Assumption		13
(6) Summary of Significant Accounting Policies	��	13
(7) Segment Information		14
(8) Per Share Amounts		21

Supplemental Material for Financial Results for FY 2018

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

1.	Financial Results and Position

(1) Consolidated Financial Results for FY2018

Financial Results

Reviewing the general economic environment for FY2018 (April 1, 2017 through March 31, 2018), the world economy has continued its moderate recovery on the back of the global expansion of trade and production and steady domestic demand. The Japanese economy has also been on a moderate recovery due to improvements in employment and income conditions.

For the automotive industry, markets have remained stable in the developed countries and expanded in China, but have slowed down in some resource-rich countries. Meanwhile, there have been movements in different countries and regions to tighten existing regulations or introduce new regulations for the reduction of greenhouse gases, including compulsory quotas for the sale of electrified vehicles.

Under these conditions, consolidated vehicle unit sales in Japan and overseas decreased by 7 thousand units, or 0.1%, to 8,964 thousand units in FY2018 compared with FY2017 (April 1, 2016 through March 31, 2017). Vehicle unit sales in Japan decreased by 19 thousand units, or 0.8%, to 2,255 thousand units in FY2018 compared with FY2017. However, with the efforts of dealers nationwide, Toyota and Lexus brands’ market share excluding mini-vehicles was 46.9%, and market share (including Daihatsu and Hino brands) including mini-vehicles was 44.4%, each remaining at as high a level as in FY2017. Meanwhile, overseas vehicle unit sales increased by 12 thousand units, or 0.2%, to 6,709 thousand units in FY2018 compared with FY2017, because of sales expansion in Europe and Other regions.

The results of operations for FY2018 were as follows:


Net revenues	29,379.5 billion yen	(an increase of 1,782.3 billion yen or 6.5% compared with FY2017)
Operating income	2,399.8 billion yen	(an increase of 405.4 billion yen or 20.3% compared with FY2017)
Income before income taxes and equity in earnings of affiliated companies	2,620.4 billion yen	(an increase of 426.6 billion yen or 19.4% compared with FY2017)
Net income attributable to Toyota Motor Corporation	2,493.9 billion yen	(an increase of 662.8 billion yen or 36.2% compared with FY2017)

The changes in operating income were as follows:


Effects of marketing activities		a decrease of 100.0 billion yen
Effects of changes in exchange rates		an increase of 265.0 billion yen
Cost reduction efforts		an increase of 165.0 billion yen
Decrease in expenses and others		an increase of 60.0 billion yen
Other		an increase of 15.4 billion yen

Note:

Translational impacts concerning operating income of overseas subsidiaries and concerning provisions in foreign currencies at the end of the fiscal year are included in “Effects of changes in exchange rates.”

Net income attributable to Toyota Motor Corporation for the fiscal year ended March 31, 2018 includes a reduction in income taxes of 249.6 billion yen, which is mainly attributable to the revaluation of deferred tax assets and liabilities resulting from the Tax Cuts and Jobs Act of 2017 of the United States.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

Segment Operating Results

(i) Automotive:

Net revenues for the automotive operations increased by 1,316.0 billion yen, or 5.2%, to 26,397.9 billion yen in FY2018 compared with FY2017, and operating income increased by 318.1 billion yen, or 18.8%, to 2,011.1 billion yen in FY2018 compared with FY2017. The increase in operating income was mainly due to the effects of changes in exchange rates and cost reduction efforts.

(ii) Financial services:

Net revenues for the financial services operations increased by 193.4 billion yen, or 10.6%, to 2,017.0 billion yen in FY2018 compared with FY2017, and operating income increased by 63.1 billion yen, or 28.4%, to 285.5 billion yen in FY2018 compared with FY2017. The increase in operating income was mainly due to the increase in financing volume and the decrease in expenses related to credit losses and residual value losses in sales finance subsidiaries.

(iii) All other:

Net revenues for all other businesses increased by 325.0 billion yen, or 24.6%, to 1,646.1 billion yen in FY2018 compared with FY2017, and operating income increased by 19.4 billion yen, or 24.0%, to 100.8 billion yen in FY2018 compared with FY2017.

Geographic Information

(i) Japan:

Net revenues in Japan increased by 1,193.9 billion yen, or 8.1%, to 16,024.8 billion yen in FY2018 compared with FY2017, and operating income increased by 457.6 billion yen, or 38.1%, to 1,659.9 billion yen in FY2018 compared with FY2017. The increase in operating income was mainly due to the effects of changes in exchange rates and cost reduction efforts.

(ii) North America:

Net revenues in North America increased by 335.3 billion yen, or 3.3%, to 10,574.4 billion yen in FY2018 compared with FY2017. However, operating income decreased by 172.2 billion yen, or 55.4%, to 138.8 billion yen in FY2018 compared with FY2017. The decrease in operating income was mainly due to the increase in sales expenses, and decreases in both production volume and vehicle unit sales.

(iii) Europe:

Net revenues in Europe increased by 504.1 billion yen, or 18.8%, to 3,185.2 billion yen in FY2018 compared with FY2017, and operating income increased by 87.2 billion yen to 75.0 billion yen in FY2018 compared with FY2017. The increase in operating income was mainly due to the decrease in expenses and others.

(iv) Asia:

Net revenues in Asia increased by 328.3 billion yen, or 6.8%, to 5,148.1 billion yen in FY2018 compared with FY2017. However, operating income decreased by 1.9 billion yen, or 0.5%, to 433.1 billion yen in FY2018 compared with FY2017.

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

Net revenues in other regions increased by 292.2 billion yen, or 13.5%, to 2,453.2 billion yen in FY2018 compared with FY2017, and operating income increased by 53.9 billion yen, or 91.9%, to 112.6 billion yen in FY2018 compared with FY2017. The increase in operating income was mainly due to increases in both production volume and vehicle unit sales.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(2) Consolidated Financial Position for FY2018

Cash and cash equivalents increased by 57.1 billion yen, or 1.9%, to 3,052.2 billion yen at the end of FY2018 compared with the end of FY2017.

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 4,210.0 billion yen in FY2018. Net cash provided by operating activities increased by 795.7 billion yen from 3,414.2 billion yen in FY2017.

Cash flows from investing activities

Net cash flows from investing activities resulted in a decrease in cash by 3,660.0 billion yen in FY2018. Net cash used in investing activities increased by 690.1 billion yen from 2,969.9 billion yen in FY2017.

Cash flows from financing activities

Net cash flows from financing activities resulted in a decrease in cash by 449.1 billion yen in FY2018. Net cash used in financing activities increased by 73.9 billion yen from 375.1 billion yen in FY2017.

The consolidated cash flows by segment for FY2018 are as follows:

Non-financial services

Net cash provided by operating activities was 2,917.8 billion yen, net cash used in investing activities was 1,549.9 billion yen and net cash used in financing activities was 1,218.3 billion yen.

Financial services

Net cash provided by operating activities was 1,315.8 billion yen, net cash used in investing activities was 2,177.9 billion yen and net cash provided by financing activities was 813.3 billion yen.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(3) Forecast of Consolidated Financial Results for FY2019

As for the future automotive market, developed countries are expected to remain steady while emerging countries are expected to expand gradually on the back of economic recovery and other factors. Meanwhile, the automotive industry is facing the time of profound transformation that could happen only once in hundred years in response to increasing serious environmental issues and other social challenges, technological innovation such as automated driving, connected vehicles and robotics which adopts the rapidly evolving technology of artificial intelligence, and diversification of lifestyles.

Under these circumstances, the current forecast of consolidated financial results for the next fiscal year ending March 31, 2019 is set forth below. This forecast assumes average exchange rates through the fiscal year of 105 yen per US$1 and 130 yen per 1 euro.

Forecast of consolidated results for FY2019


Net revenues	29,000.0 billion yen	(a decrease of 1.3% compared with FY2018)
Operating income	2,300.0 billion yen	(a decrease of 4.2% compared with FY2018)
Income before income taxes and equity in earnings of affiliated companies	2,450.0 billion yen	(a decrease of 6.5% compared with FY2018)
Net income attributable to Toyota Motor Corporation	2,120.0 billion yen	(a decrease of 15.0% compared with FY2018)

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.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

2.	Basic Concept Regarding the Selection of Accounting Standards

Toyota prepares its consolidated financial statements in accordance with U.S. generally accepted accounting principles due to the listing of Toyota’s common stock on the New York Stock Exchange. Toyota is examining adoption of International Financial Reporting Standards in light of the environment surrounding Toyota, as well as domestic and international trends.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

3.	Consolidated Financial Statements

(1) Consolidated Balance Sheets


	(Yen in millions)
	FY2017 (March 31, 2017)			FY2018 (March 31, 2018)			Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents		2,995,075			3,052,269			57,194
Time deposits		1,082,654			901,244			(181,410	)
Marketable securities		1,821,598			1,768,360			(53,238	)
Trade accounts and notes receivable, less allowance for doubtful accounts of ¥50,110 million at March 31, 2017 and ¥25,925 million at March 31, 2018		2,115,938			2,219,562			103,624
Finance receivables, net		6,196,649			6,348,306			151,657
Other receivables		436,867			489,338			52,471
Inventories		2,388,617			2,539,789			151,172
Prepaid expenses and other current assets		796,297			833,788			37,491

Total current assets		17,833,695			18,152,656			318,961

Noncurrent finance receivables, net		9,012,222			9,481,618			469,396
Investments and other assets:
Marketable securities and other securities investments		7,679,928			7,999,323			319,395
Affiliated companies		2,845,639			3,162,917			317,278
Employees receivables		25,187			22,562			(2,625	)
Other		1,156,406			1,221,500			65,094

Total investments and other assets		11,707,160			12,406,302			699,142

Property, plant and equipment:
Land		1,379,991			1,404,611			24,620
Buildings		4,470,996			4,659,753			188,757
Machinery and equipment		11,357,340			11,535,381			178,041
Vehicles and equipment on operating leases		5,966,579			5,934,393			(32,186	)
Construction in progress		474,188			509,851			35,663

Total property, plant and equipment, at cost		23,649,094			24,043,989			394,895

Less – Accumulated depreciation		(13,451,985	)		(13,776,316	)		(324,331	)

Total property, plant and equipment, net		10,197,109			10,267,673			70,564

Total assets		48,750,186			50,308,249			1,558,063

TOYOTA MOTOR CORPORATION FY2018 Financial Summary


	(Yen in millions)
	FY2017 (March 31, 2017)			FY2018 (March 31, 2018)			Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings		4,953,682			5,154,913			201,231
Current portion of long-term debt		4,290,449			4,186,277			(104,172	)
Accounts payable		2,566,382			2,586,657			20,275
Other payables		936,938			1,048,216			111,278
Accrued expenses		3,137,827			3,104,260			(33,567	)
Income taxes payable		223,574			462,327			238,753
Other current liabilities		1,210,113			1,254,241			44,128

Total current liabilities		17,318,965			17,796,891			477,926

Long-term liabilities:
Long-term debt		9,911,596			10,006,374			94,778
Accrued pension and severance costs		905,070			931,182			26,112
Deferred income taxes		1,423,726			1,118,165			(305,561	)
Other long-term liabilities		521,876			533,561			11,685

Total long-term liabilities		12,762,268			12,589,282			(172,986	)

Total liabilities		30,081,233			30,386,173			304,940

Mezzanine equity
Model AA Class Shares, no par value, authorized: 150,000,000 shares at March 31, 2017 and March 31, 2018 issued: 47,100,000 shares at March 31, 2017 and March 31, 2018		485,877			491,974			6,097

Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2017 and March 31, 2018 issued: 3,262,997,492 shares at March 31, 2017 and March 31, 2018		397,050			397,050			—
Additionalpaid-in capital		484,013			487,502			3,489
Retained earnings		17,601,070			19,473,464			1,872,394
Accumulated other comprehensive income (loss)		640,922			435,699			(205,223	)
Treasury stock, at cost, 288,274,636 shares at March 31, 2017 and 353,073,500 shares at March 31, 2018		(1,608,243	)		(2,057,733	)		(449,490	)

Total Toyota Motor Corporation shareholders’ equity		17,514,812			18,735,982			1,221,170

Noncontrolling interests		668,264			694,120			25,856

Total shareholders’ equity		18,183,076			19,430,102			1,247,026

Commitments and contingencies

Total liabilities, mezzanine equity and shareholders’ equity		48,750,186			50,308,249			1,558,063

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

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(2) Consolidated Statements of Income and

Consolidated Statements of Comprehensive Income

Consolidated Statements of Income


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)			FY2018 (For the year ended March 31, 2018)			Increase (Decrease)
Net revenues:
Sales of products		25,813,496			27,420,276			1,606,780
Financing operations		1,783,697			1,959,234			175,537

Total net revenues		27,597,193			29,379,510			1,782,317

Costs and expenses:
Cost of products sold		21,543,035			22,600,474			1,057,439
Cost of financing operations		1,191,301			1,288,679			97,378
Selling, general and administrative		2,868,485			3,090,495			222,010

Total costs and expenses		25,602,821			26,979,648			1,376,827

Operating income		1,994,372			2,399,862			405,490

Other income (expense):
Interest and dividend income		158,983			179,541			20,558
Interest expense		(29,353	)		(27,586	)		1,767
Foreign exchange gain, net		33,601			22,664			(10,937	)
Other income (loss), net		36,222			45,948			9,726

Total other income (expense)		199,453			220,567			21,114

Income before income taxes and equity in earnings of affiliated companies		2,193,825			2,620,429			426,604

Provision for income taxes		628,900			504,406			(124,494	)
Equity in earnings of affiliated companies		362,060			470,083			108,023

Net income		1,926,985			2,586,106			659,121

Less – Net income attributable to noncontrolling interests		(95,876	)		(92,123	)		3,753

Net income attributable to Toyota Motor Corporation		1,831,109			2,493,983			662,874

Note:

Net income attributable to common shareholders for the fiscal year ended March 31, 2018 and 2017 is 2,481,692 million yen and 1,821,314 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 12,291 million yen and 9,795 million yen, respectively, from Net income attributable to Toyota Motor Corporation.



	(Yen)
Net income attributable to Toyota Motor Corporation per common share
Basic		605.47	842.00	236.53
Diluted		599.22	832.78	233.56

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

Consolidated Statements of Comprehensive Income


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)			FY2018 (For the year ended March 31, 2018)			Increase (Decrease)
Net income		1,926,985			2,586,106			659,121
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		(57,926	)		(120,606	)		(62,680	)
Unrealized gains (losses) on securities		4,279			(94,559	)		(98,838	)
Pension liability adjustments		93,312			22,315			(70,997	)

Total other comprehensive income (loss)		39,665			(192,850	)		(232,515	)

Comprehensive income		1,966,650			2,393,256			426,606

Less – Comprehensive income attributable to noncontrolling interests		(103,161	)		(93,096	)		10,065

Comprehensive income attributable to Toyota Motor Corporation		1,863,489			2,300,160			436,671

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(3) Consolidated Statements of Shareholders’ Equity


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)
	Common stock		Additional paid-in capital			Retained earnings			Accumulated other comprehensive income (loss)			Treasury stock, at cost			Total Toyota Motor Corporation shareholders’ equity			Noncontrolling interests			Total shareholders’ equity
Balances at March 31, 2016		397,050		548,161			16,794,240			610,768			(1,603,284	)		16,746,935			861,472			17,608,407

Equity transaction with noncontrolling interests and other				(35,555	)					(2,226	)		283,561			245,780			(232,433	)		13,347
Comprehensive income:
Net income							1,831,109									1,831,109			95,876			1,926,985
Other comprehensive income (loss)
Foreign currency translation adjustments										(52,427	)					(52,427	)		(5,499	)		(57,926	)
Unrealized gains (losses) on securities										(8,002	)					(8,002	)		12,281			4,279
Pension liability adjustments										92,809						92,809			503			93,312

Total comprehensive income																1,863,489			103,161			1,966,650

Accretion to Mezzanine equity							(4,849	)								(4,849	)					(4,849	)
Dividends to Toyota Motor Corporation class shareholders							(4,946	)								(4,946	)					(4,946	)
Dividends paid to Toyota Motor Corporation common shareholders							(634,475	)								(634,475	)					(634,475	)
Dividends paid to noncontrolling interests																			(63,936	)		(63,936	)
Repurchase of treasury stock													(700,228	)		(700,228	)					(700,228	)
Reissuance of treasury stock				(1,219	)								4,325			3,106						3,106
Retirement of treasury stock				(27,374	)		(380,009	)					407,383			—						—

Balances at March 31, 2017		397,050		484,013			17,601,070			640,922			(1,608,243	)		17,514,812			668,264			18,183,076


	(Yen in millions)
	FY2018 (For the year ended March 31, 2018)
	Common stock		Additional paid-in capital			Retained earnings			Accumulated other comprehensive income (loss)			Treasury stock, at cost			Total Toyota Motor Corporation shareholders’ equity			Noncontrolling interests			Total shareholders’ equity
Balances at March 31, 2017		397,050		484,013			17,601,070			640,922			(1,608,243	)		17,514,812			668,264			18,183,076

Equity transaction with noncontrolling interests and other				1,817			11,400			(11,400	)					1,817			(3,476	)		(1,659	)
Comprehensive income:
Net income							2,493,983									2,493,983			92,123			2,586,106
Other comprehensive income (loss)
Foreign currency translation adjustments										(118,977	)					(118,977	)		(1,629	)		(120,606	)
Unrealized gains (losses) on securities										(96,581	)					(96,581	)		2,022			(94,559	)
Pension liability adjustments										21,735						21,735			580			22,315

Total comprehensive income																2,300,160			93,096			2,393,256

Accretion to Mezzanine equity							(4,849	)								(4,849	)					(4,849	)
Dividends to Toyota Motor Corporation class shareholders							(7,442	)								(7,442	)					(7,442	)
Dividends paid to Toyota Motor Corporation common shareholders							(620,698	)								(620,698	)					(620,698	)
Dividends paid to noncontrolling interests																			(63,764	)		(63,764	)
Repurchase of treasury stock													(500,177	)		(500,177	)					(500,177	)
Reissuance of treasury stock				1,672									50,687			52,359						52,359

Balances at March 31, 2018		397,050		487,502			19,473,464			435,699			(2,057,733	)		18,735,982			694,120			19,430,102

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(4) Consolidated Statements of Cash Flows


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)			FY2018 (For the year ended March 31, 2018)
Cash flows from operating activities:
Net income		1,926,985			2,586,106
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		1,610,950			1,734,033
Provision for doubtful accounts and credit losses		98,666			76,069
Pension and severance costs, less payments		23,253			4,286
Losses on disposal of fixed assets		30,673			35,289
Unrealized losses onavailable-for-sale securities, net		7,073			846
Deferred income taxes		(53,299	)		(237,961	)
Equity in earnings of affiliated companies		(362,060	)		(470,083	)
Changes in operating assets and liabilities, and other		131,996			481,424

Net cash provided by operating activities		3,414,237			4,210,009

Cash flows from investing activities:
Additions to finance receivables		(13,636,694	)		(15,058,516	)
Collection of and proceeds from sales of finance receivables		12,927,981			14,046,312
Additions to fixed assets excluding equipment leased to others		(1,223,878	)		(1,291,117	)
Additions to equipment leased to others		(2,317,559	)		(2,307,590	)
Proceeds from sales of fixed assets excluding equipment leased to others		41,238			71,820
Proceeds from sales of equipment leased to others		1,238,278			1,211,272
Purchases of marketable securities and security investments		(2,517,008	)		(3,052,916	)
Proceeds from sales of and maturity of marketable securities and security investments		1,901,541			2,523,538
Payment for additional investments in affiliated companies, net of cash acquired		44,274			(576	)
Changes in investments and other assets, and other		571,888			197,681

Net cash used in investing activities		(2,969,939	)		(3,660,092	)

Cash flows from financing activities:
Proceeds from issuance of long-term debt		4,603,446			4,793,939
Payments of long-term debt		(3,845,554	)		(4,452,338	)
Increase in short-term borrowings		273,037			347,738
Dividends paid to Toyota Motor Corporation class shareholders		(3,697	)		(6,194	)
Dividends paid to Toyota Motor Corporation common shareholders		(634,475	)		(620,698	)
Dividends paid to noncontrolling interests		(63,936	)		(63,764	)
Reissuance (repurchase) of treasury stock, and other		(703,986	)		(447,818	)

Net cash used in financing activities		(375,165	)		(449,135	)

Effect of exchange rate changes on cash and cash equivalents		(13,486	)		(43,588	)

Net increase in cash and cash equivalents		55,647			57,194

Cash and cash equivalents at beginning of year		2,939,428			2,995,075

Cash and cash equivalents at end of year		2,995,075			3,052,269

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.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(5) Going Concern Assumption

None

(6) Summary of Significant Accounting Policies

“Summary of Significant Accounting Policies” has been omitted, as there were no significant changes from the most recent Securities Report (filed on June 23, 2017). Changes in accounting principles, procedures, and disclosures for consolidated financial statements by newly issued accounting pronouncements are set forth below.

In July 2015, the Financial Accounting Standards Board (“FASB”) 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.

In March 2016, the FASB issued updated guidance for effect of derivative contract novations on existing hedge accounting relationships. This guidance clarifies that a change in the counterparty to a designated derivative hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. 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.

In March 2016, the FASB issued updated guidance for contingent put and call options in debt instruments. This guidance clarifies whether embedded contingent put and call options are clearly and closely related to the debt host when bifurcating embedded derivatives. 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.

In October 2016, the FASB issued updated guidance for consolidation. Under this guidance, a reporting entity would evaluate its indirect economic interest in a variable interest entity held through a related party under common control on a proportionate basis. 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.

In February 2018, the FASB issued updated guidance for comprehensive income. This guidance allows entities to reclassify tax effects stranded in accumulated other comprehensive incomes as a result of the Tax Cuts and Jobs Act of 2017 of the United States to retained earnings. Toyota early adopted this guidance on April 1, 2017. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(7) Segment Information

(i) Segment Operating Results and Assets

FY2017 (As of and for the year ended March 31, 2017)


	(Yen in millions)
	Automotive		Financial Services		All Other		Inter-segment Elimination and/or Unallocated Amount			Consolidated
Net revenues:
Sales to external customers		25,032,229		1,783,697		781,267		—			27,597,193
Inter-segment sales and transfers		49,618		39,903		539,785		(629,306	)		—

Total		25,081,847		1,823,600		1,321,052		(629,306	)		27,597,193

Operating expenses		23,388,874		1,601,172		1,239,725		(626,950	)		25,602,821

Operating income		1,692,973		222,428		81,327		(2,356	)		1,994,372

Assets		16,156,496		22,507,613		2,170,498		7,915,579			48,750,186

Investment in equity method investees		2,745,437		9,792		—		90,193			2,845,422

Depreciation expenses		912,797		671,155		26,998		—			1,610,950

Capital expenditure		1,293,564		2,182,149		53,710		12,014			3,541,437

FY2018 (As of and for the year ended March 31, 2018)

(Yen in millions)

Automotive

Financial
Services

All Other

Inter-segment
Elimination and/or
Unallocated
Amount

Consolidated

Net revenues:

Sales to external customers

26,347,229

1,959,234

1,073,047

—

29,379,510

Inter-segment sales and transfers

50,711

57,774

573,071

(681,556

)

—

Total

26,397,940

2,017,008

1,646,118

(681,556

)

29,379,510

Operating expenses

24,386,805

1,731,462

1,545,306

(683,925

)

26,979,648

Operating income

2,011,135

285,546

100,812

2,369

2,399,862

Assets

17,054,209

23,055,981

2,178,118

8,019,941

50,308,249

Investment in equity method investees

3,054,583

11,713

—

96,415

3,162,711

Depreciation expenses

976,735

723,061

34,237

—

1,734,033

Capital expenditure

1,381,122

2,166,805

62,447

(11,667

)

3,598,707


Note:		Unallocated corporate assets included under “Inter-segment Elimination and/or Unallocated Amount” for FY2017 and FY2018 are 9,177,953 million yen and 9,386,399 million yen, respectively, and consist primarily of funds such as cash and cash equivalents, marketable securities and portion of security investments held by TMC.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(ii) Consolidated Financial Statements as Classified intoNon-Financial Services Business and Financial Services Business

Consolidated Balance Sheets as Classified intoNon-Financial Services Business and Financial Services Business


	(Yen in millions)
	FY2017 (March 31, 2017)			FY2018 (March 31, 2018)			Increase (Decrease)
Assets
(Non-financial services)
Current assets:
Cash and cash equivalents		2,257,064			2,390,524			133,460
Marketable securities		1,439,944			1,546,459			106,515
Trade accounts and notes receivable, less allowance for doubtful accounts		2,191,594			2,304,676			113,082
Inventories		2,388,394			2,539,497			151,103
Prepaid expenses and other current assets		1,988,016			1,818,687			(169,329	)

Total current assets		10,265,012			10,599,843			334,831

Investments and other assets		11,276,128			11,861,394			585,266
Property, plant and equipment		5,700,818			5,901,958			201,140

Total assets		27,241,958			28,363,195			1,121,237

(Financial services)
Current assets:
Cash and cash equivalents		738,011			661,745			(76,266	)
Marketable securities		381,654			221,901			(159,753	)
Finance receivables, net		6,196,649			6,348,306			151,657
Prepaid expenses and other current assets		831,924			957,122			125,198

Total current assets		8,148,238			8,189,074			40,836

Noncurrent finance receivables, net		9,012,222			9,481,618			469,396
Investments and other assets		850,862			1,019,574			168,712
Property, plant and equipment		4,496,291			4,365,715			(130,576	)

Total assets		22,507,613			23,055,981			548,368

(Elimination)
Elimination of assets		(999,385	)		(1,110,927	)		(111,542	)

(Consolidated)
Total assets		48,750,186			50,308,249			1,558,063

Note: Assets in thenon-financial services include unallocated corporate assets.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary


	(Yen in millions)
	FY2017 (March 31, 2017)			FY2018 (March 31, 2018)			Increase (Decrease)
Liabilities
(Non-financial services)
Current liabilities:
Short-term borrowings		669,947			541,968			(127,979	)
Current portion of long-term debt		196,227			179,994			(16,233	)
Accounts payable		2,540,078			2,556,393			16,315
Accrued expenses		3,038,218			2,980,981			(57,237	)
Income taxes payable		203,101			429,616			226,515
Other current liabilities		1,512,662			1,797,724			285,062

Total current liabilities		8,160,233			8,486,676			326,443

Long-term liabilities:
Long-term debt		590,366			642,691			52,325
Accrued pension and severance costs		890,684			917,133			26,449
Other long-term liabilities		1,206,427			1,111,843			(94,584	)

Total long-term liabilities		2,687,477			2,671,667			(15,810	)

Total liabilities		10,847,710			11,158,343			310,633

(Financial services)
Current liabilities:
Short-term borrowings		4,605,389			4,929,478			324,089
Current portion of long-term debt		4,129,005			4,053,538			(75,467	)
Accounts payable		33,283			40,251			6,968
Accrued expenses		117,773			145,127			27,354
Income taxes payable		20,473			32,711			12,238
Other current liabilities		833,813			870,634			36,821

Total current liabilities		9,739,736			10,071,739			332,003

Long-term liabilities:
Long-term debt		9,491,504			9,574,118			82,614
Accrued pension and severance costs		14,386			14,049			(337	)
Other long-term liabilities		987,289			678,858			(308,431	)

Total long-term liabilities		10,493,179			10,267,025			(226,154	)

Total liabilities		20,232,915			20,338,764			105,849

(Elimination) Elimination of liabilities		(999,392	)		(1,110,934	)		(111,542	)

(Consolidated) Total liabilities		30,081,233			30,386,173			304,940

(Consolidated) Mezzanine equity		485,877			491,974			6,097

Shareholders’ equity
(Consolidated) Total Toyota Motor Corporation shareholders’ equity		17,514,812			18,735,982			1,221,170

(Consolidated) Noncontrolling interests		668,264			694,120			25,856

(Consolidated) Total shareholders’ equity		18,183,076			19,430,102			1,247,026

(Consolidated) Total liabilities, mezzanine equity and shareholders’ equity		48,750,186			50,308,249			1,558,063

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

Consolidated Statements of Income as Classified intoNon-Financial Services Business and Financial Services Business


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)			FY2018 (For the year ended March 31, 2018)			Increase (Decrease)
(Non-financial services)
Net revenues		25,845,453			27,448,165			1,602,712
Costs and expenses:		24,068,841			25,334,812			1,265,971
Cost of revenues		21,557,194			22,613,450			1,056,256
Selling, general and administrative		2,511,647			2,721,362			209,715

Operating income		1,776,612			2,113,353			336,741

Other income (expense), net		200,370			222,326			21,956

Income before income taxes and equity in earnings of affiliated companies		1,976,982			2,335,679			358,697

Provision for income taxes		562,452			738,763			176,311
Equity in earnings of affiliated companies		360,130			467,718			107,588

Net income		1,774,660			2,064,634			289,974

Less – Net income attributable to noncontrolling interests		(89,337	)		(89,533	)		(196	)

Net income attributable to Toyota Motor Corporation		1,685,323			1,975,101			289,778

(Financial services)
Net revenues		1,823,600			2,017,008			193,408
Costs and expenses:		1,601,172			1,731,462			130,290
Cost of revenues		1,221,268			1,320,348			99,080
Selling, general and administrative		379,904			411,114			31,210

Operating income		222,428			285,546			63,118

Other income (expense), net		(5,618	)		(794	)		4,824

Income before income taxes and equity in earnings of affiliated companies		216,810			284,752			67,942

Provision for income taxes		66,583			(234,356	)		(300,939	)
Equity in earnings of affiliated companies		1,930			2,365			435

Net income		152,157			521,473			369,316

Less – Net income attributable to noncontrolling interests		(6,518	)		(2,589	)		3,929

Net income attributable to Toyota Motor Corporation		145,639			518,884			373,245

(Elimination)
Elimination of net income attributable to Toyota Motor Corporation		147			(2	)		(149	)

(Consolidated)
Net income attributable to Toyota Motor Corporation		1,831,109			2,493,983			662,874

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

Consolidated Statements of Cash Flows as Classified intoNon-Financial Services Business and Financial Services Business


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)			FY2018 (For the year ended March 31, 2018)
(Non-financial services)
Cash flows from operating activities:
Net income		1,774,660			2,064,634
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		939,795			1,010,972
Provision for doubtful accounts		6,519			(74	)
Pension and severance costs, less payments		21,796			5,027
Losses on disposal of fixed assets		30,461			35,010
Unrealized losses onavailable-for-sale securities, net		4,422			459
Deferred income taxes		(59,668	)		64,143
Equity in earnings of affiliated companies		(360,130	)		(467,718	)
Changes in operating assets and liabilities, and other		206,455			205,434

Net cash provided by operating activities		2,564,310			2,917,887

Cash flows from investing activities:
Additions to fixed assets excluding equipment leased to others		(1,206,738	)		(1,276,788	)
Additions to equipment leased to others		(152,550	)		(155,114	)
Proceeds from sales of fixed assets excluding equipment leased to others		40,189			70,755
Proceeds from sales of equipment leased to others		72,659			63,402
Purchases of marketable securities and security investments		(2,104,202	)		(2,273,805	)
Proceeds from sales of and maturity of marketable securities and security investments		1,435,267			1,762,189
Payment for additional investments in affiliated companies, net of cash acquired		44,274			(576	)
Changes in investments and other assets, and other		582,649			260,015

Net cash used in investing activities		(1,288,452	)		(1,549,922	)

Cash flows from financing activities:
Proceeds from issuance of long-term debt		111,727			212,387
Payments of long-term debt		(82,840	)		(170,072	)
Increase (decrease) in short-term borrowings		51,523			(122,222	)
Dividends paid to Toyota Motor Corporation class shareholders		(3,697	)		(6,194	)
Dividends paid to Toyota Motor Corporation common shareholders		(634,475	)		(620,698	)
Dividends paid to noncontrolling interests		(63,936	)		(63,764	)
Reissuance (repurchase) of treasury stock, and other		(703,986	)		(447,818	)

Net cash used in financing activities		(1,325,684	)		(1,218,381	)

Effect of exchange rate changes on cash and cash equivalents		(11,262	)		(16,124	)

Net increase (decrease) in cash and cash equivalents		(61,088	)		133,460

Cash and cash equivalents at beginning of year		2,318,152			2,257,064

Cash and cash equivalents at end of year		2,257,064			2,390,524

TOYOTA MOTOR CORPORATION FY2018 Financial Summary


	(Yen in millions)
	FY2017 (For the year ended March 31, 2017)			FY2018 (For the year ended March 31, 2018)
(Financial services)
Cash flows from operating activities:
Net income		152,157			521,473
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		671,155			723,061
Provision for doubtful accounts and credit losses		92,147			76,143
Pension and severance costs, less payments		1,457			(741	)
Losses on disposal of fixed assets		212			279
Unrealized losses onavailable-for-sale securities, net		2,651			387
Deferred income taxes		6,504			(302,103	)
Equity in earnings of affiliated companies		(1,930	)		(2,365	)
Changes in operating assets and liabilities, and other		103,840			299,709

Net cash provided by operating activities		1,028,193			1,315,843

Cash flows from investing activities:
Additions to finance receivables		(22,894,114	)		(25,153,088	)
Collection of and proceeds from sales of finance receivables		22,006,010			24,117,335
Additions to fixed assets excluding equipment leased to others		(17,140	)		(14,329	)
Additions to equipment leased to others		(2,165,009	)		(2,152,476	)
Proceeds from sales of fixed assets excluding equipment leased to others		1,049			1,065
Proceeds from sales of equipment leased to others		1,165,619			1,147,870
Purchases of marketable securities and security investments		(412,806	)		(779,111	)
Proceeds from sales of and maturity of marketable securities and security investments		466,274			761,349
Changes in investments and other assets, and other		(60,345	)		(106,597	)

Net cash used in investing activities		(1,910,462	)		(2,177,982	)

Cash flows from financing activities:
Proceeds from issuance of long-term debt		4,541,541			4,666,579
Payments of long-term debt		(3,773,644	)		(4,314,294	)
Increase in short-term borrowings		233,331			461,052

Net cash provided by financing activities		1,001,228			813,337

Effect of exchange rate changes on cash and cash equivalents		(2,224	)		(27,464	)

Net increase (decrease) in cash and cash equivalents		116,735			(76,266	)

Cash and cash equivalents at beginning of year		621,276			738,011

Cash and cash equivalents at end of year		738,011			661,745


(Consolidated)
Effect of exchange rate changes on cash and cash equivalents		(13,486	)		(43,588	)

Net increase in cash and cash equivalents		55,647			57,194

Cash and cash equivalents at beginning of year		2,939,428			2,995,075

Cash and cash equivalents at end of year		2,995,075			3,052,269

Note:

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(iii) Geographic Information

FY2017 (As of and for the year ended March 31, 2017)


	(Yen in millions)
	Japan		North America		Europe			Asia		Other		Inter-segment Elimination and/or Unallocated Amount			Consolidated
Net revenues:
Sales to external customers		8,798,903		10,033,419		2,517,601			4,279,617		1,967,653		—			27,597,193
Inter-segment sales and transfers		6,031,965		205,672		163,438			540,204		193,421		(7,134,700	)		—

Total		14,830,868		10,239,091		2,681,039			4,819,821		2,161,074		(7,134,700	)		27,597,193

Operating expenses		13,628,623		9,927,897		2,693,283			4,384,642		2,102,380		(7,134,004	)		25,602,821

Operating income (loss)		1,202,245		311,194		(12,244	)		435,179		58,694		(696	)		1,994,372

Assets		14,791,969		17,365,237		2,846,469			4,486,021		2,819,935		6,440,555			48,750,186

FY2018 (As of and for the year ended March 31, 2018)

(Yen in millions)

Japan

North
America

Europe

Asia

Other

Inter-segment
Elimination
and/or
Unallocated
Amount

Consolidated

Net revenues:

Sales to external customers

9,273,672

10,347,266

2,940,243

4,497,374

2,320,955

—

29,379,510

Inter-segment sales and transfers

6,751,172

227,144

244,981

650,765

132,344

(8,006,406

)

—

Total

16,024,844

10,574,410

3,185,224

5,148,139

2,453,299

(8,006,406

)

29,379,510

Operating expenses

14,364,926

10,435,511

3,110,198

4,714,940

2,340,636

(7,986,563

)

26,979,648

Operating income

1,659,918

138,899

75,026

433,199

112,663

(19,843

)

2,399,862

Assets

15,797,024

16,936,704

3,346,179

4,893,582

2,986,661

6,348,099

50,308,249


Note:	1.	Unallocated corporate assets included under “Inter-segment Elimination and/or Unallocated Amount” for FY2017 and FY2018 are 9,177,953 million yen and 9,386,399 million yen, respectively, and consist primarily of funds such as cash and cash equivalents, marketable securities and portion of security investments held by TMC.
	2.	“Other” consists of Central and South America, Oceania, Africa and the Middle East.

TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(8) Per Share Amounts

Basic and diluted net income attributable to Toyota Motor Corporation per common share for the years ended March 31, 2017 and 2018 are as follows:


	Yen in millions			Thousands of shares		Yen
	Net income attributable to Toyota Motor Corporation			Weighted-average common shares		Net income attributable to Toyota Motor Corporation per common share
For the year ended March 31, 2017
Net income attributable to Toyota Motor Corporation		1,831,109
Accretion to Mezzanine equity		(4,849	)
Dividends to Toyota Motor Corporation Model AA Class Shareholders		(4,946	)

Basic net income attributable to Toyota Motor Corporation per common share		1,821,314			3,008,088		605.47
Effect of dilutive securities
Model AA Class Shares		9,795			47,100
Assumed exercise of dilutive stock options		(6	)		638

Diluted net income attributable to Toyota Motor Corporation per common share		1,831,103			3,055,826		599.22

For the year ended March 31, 2018
Net income attributable to Toyota Motor Corporation		2,493,983
Accretion to Mezzanine equity		(4,849	)
Dividends to Toyota Motor Corporation Model AA Class Shareholders		(7,442	)

Basic net income attributable to Toyota Motor Corporation per common share		2,481,692			2,947,365		842.00
Effect of dilutive securities
Model AA Class Shares		12,291			47,100
Assumed exercise of dilutive stock options		(4	)		301

Diluted net income attributable to Toyota Motor Corporation per common share		2,493,979			2,994,766		832.78

The following table shows Toyota Motor Corporation shareholders’ equity per share as of March 31, 2017 and 2018.


	Yen in millions		Thousands of shares		Yen
	Toyota Motor Corporation shareholders’ equity		Common shares issued and outstanding at the end of the year (excluding treasury stock)		Toyota Motor Corporation shareholders’ equity per share
As of March 31, 2017		17,514,812		2,974,723		5,887.88
As of March 31, 2018		18,735,982		2,909,924		6,438.65

Supplemental Material for Financial Results for FY2018 (Consolidated)

< U.S. GAAP >


	FY2017															FY2018															FY2019
	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)			2Q (2017/7-9)			3Q (2017/10-12)			4Q (2018/1-3)			12 months (’17/4-’18/3)			Forecast 12 months (’18/4-’19/3)
Vehicle Production (thousands of units)		2,149			2,240			2,240			2,347			8,975			2,216			2,176			2,266			2,306			8,964			—
(Japan) –including Daihatsu & Hino		934			1,059			1,013			1,104			4,109			1,023			1,039			1,100			1,124			4,286			—
[Daihatsu & Hino]		[194	]		[215	]		[236	]		[277	]		[921	]		[266	]		[260	]		[273	]		[288	]		[1,087	]		—
(Overseas) –including Daihatsu & Hino		1,215			1,181			1,227			1,243			4,866			1,193			1,137			1,166			1,182			4,678			—
[Daihatsu & Hino]		[86	]		[95	]		[114	]		[105	]		[400	]		[92	]		[93	]		[90	]		[129	]		[404	]		—
North America		527			508			494			534			2,063			509			438			459			497			1,903			—
Europe		144			135			175			183			637			176			152			178			175			681			—
Asia		420			409			434			411			1,674			383			406			413			399			1,601			—
Central and South America		69			69			76			68			282			79			86			90			79			333			—
Oceania		21			27			22			19			88			20			23			0			0			43			—
Africa		34			33			26			28			122			26			32			26			32			117			—
Vehicle Sales (thousands of units)		2,172			2,191			2,280			2,327			8,971			2,215			2,175			2,289			2,286			8,964			8,950
[First Half 6 months]														[4,363	]														[4,389	]		[4,450	]
(Japan) –including Daihatsu & Hino		511			567			534			661			2,274			544			543			552			616			2,255			2,190
[Daihatsu & Hino]		[132	]		[146	]		[150	]		[195	]		[623	]		[164	]		[162	]		[158	]		[201	]		[685	]		[670	]
(Overseas) –including Daihatsu & Hino		1,661			1,624			1,746			1,666			6,697			1,671			1,632			1,737			1,670			6,709			6,760
[Daihatsu & Hino]		[72	]		[70	]		[82	]		[78	]		[302	]		[71	]		[75	]		[79	]		[82	]		[306	]		[320	]
North America		715			684			745			692			2,837			723			672			735			675			2,806			2,800
Europe		222			212			233			257			925			240			229			237			262			968			940
Asia		384			381			428			395			1,588			363			382			404			394			1,543			1,670
Central and South America		101			110			103			96			409			108			109			118			110			445			460
Oceania		64			65			66			66			260			74			70			71			68			283			280
Africa		43			47			44			46			180			42			46			46			50			184			180
Middle East		130			124			125			113			491			119			122			123			109			472			430
Other		2			1			2			1			7			2			2			3			2			8			—
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		2,529			2,538			2,645			2,539			10,251			2,590			2,626			2,631			2,594			10,441			10,500
Housing Sales (units)		1,185			1,611			1,282			6,243			10,321			2,312			5,399			2,699			5,812			16,222			16,200

Supplemental 1

Supplemental Material for Financial Results for FY2018 (Consolidated)

< U.S. GAAP >


	FY2017															FY2018															FY2019
	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)			2Q (2017/7-9)			3Q (2017/10-12)			4Q (2018/1-3)			12 months (’17/4-’18/3)			Forecast 12 months (’18/4-’19/3)
Foreign Exchange Rates
Yen to US Dollar Rate		108			102			109			114			108			111			111			113			108			111			as premise: 105
Yen to Euro Rate		122			114			118			121			119			122			130			133			133			130			as premise: 130
Market Share (Japan)
Toyota(excluding Mini-Vehicles) (%)		49.7			49.3			47.9			45.3			47.8			49.3			45.1			50.0			44.0			46.9			approximately: 47.0
Toyota, Daihatsu and Hino (including Mini-Vehicles) (%)		47.0			46.1			45.3			42.6			45.0			46.2			43.3			46.8			42.0			44.4
Number of Employees		354,974			355,264			357,072			364,445			364,445			371,888			371,286			368,883			369,124			369,124	^(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			7,143.6			7,605.7			7,582.5			29,379.5			29,000.0
Geographic Information
Japan		3,361.4			3,619.0			3,772.4			4,077.9			14,830.8			3,686.3			3,881.8			4,173.1			4,283.4			16,024.8
North America		2,534.5			2,341.8			2,712.2			2,650.4			10,239.0			2,661.4			2,567.7			2,799.8			2,545.3			10,574.4
Europe		621.8			604.0			675.2			779.8			2,681.0			761.5			758.2			792.2			873.1			3,185.2
Asia		1,182.6			1,118.9			1,261.2			1,257.0			4,819.8			1,196.7			1,287.6			1,341.5			1,322.2			5,148.1
Other		521.5			525.0			559.9			554.5			2,161.0			612.4			625.4			616.2			599.2			2,453.2
Elimination		-1,632.8			-1,727.5			-1,896.9			-1,877.3			-7,134.7			-1,870.8			-1,977.3			-2,117.1			-2,040.9			-8,006.4
Business Segment
Automotive		6,029.0			5,908.9			6,469.5			6,674.2			25,081.8			6,368.6			6,368.2			6,862.8			6,798.1			26,397.9
Financial Services		438.9			432.0			476.0			476.6			1,823.6			503.7			493.8			512.5			506.8			2,017.0
All Other		249.0			283.8			276.0			512.1			1,321.0			337.9			430.8			381.0			496.2			1,646.1
Elimination		-127.8			-143.4			-137.4			-220.5			-629.3			-162.8			-149.2			-150.7			-218.7			-681.5
Operating Income (billions of yen)		642.2			474.6			438.5			438.9			1,994.3			574.2			522.2			673.6			629.6			2,399.8			2,300.0
(Operating Income Ratio) (%)		(9.7	)		(7.3	)		(6.2	)		(5.9	)		(7.2	)		(8.1	)		(7.3	)		(8.9	)		(8.3	)		(8.2	)		(7.9	)
Geographic Information
Japan		290.3			194.3			209.3			508.2			1,202.2			319.2			321.3			470.6			548.7			1,659.9
North America		171.4			139.8			70.6			-70.7			311.1			89.2			55.3			33.1			-38.8			138.8
Europe		9.0			25.5			18.1			-64.9			-12.2			20.3			17.4			23.3			13.8			75.0
Asia		127.4			95.3			124.6			87.7			435.1			104.3			109.8			123.6			95.3			433.1
Other		27.3			25.5			24.1			-18.3			58.6			38.6			31.6			33.0			9.2			112.6
Elimination		16.6			-5.9			-8.3			-3.0			-0.6			2.4			-13.4			-10.1			1.2			-19.8
Business Segment
Automotive		543.4			393.9			382.7			372.8			1,692.9			489.3			423.1			569.0			529.5			2,011.1
Financial Services		90.2			61.9			42.6			27.5			222.4			75.3			69.4			82.6			58.1			285.5
All Other		10.3			16.9			16.5			37.5			81.3			13.6			22.8			24.7			39.5			100.8
Elimination		-1.7			1.8			-3.3			0.9			-2.3			-4.0			6.8			-2.7			2.3			2.3
Income before Income Taxes (billions of yen)		677.0			499.4			587.5			429.7			2,193.8			679.3			572.8			750.9			617.3			2,620.4			2,450.0
(Income before Income Taxes Ratio) (%)		(10.3	)		(7.7	)		(8.3	)		(5.8	)		(7.9	)		(9.6	)		(8.0	)		(9.9	)		(8.1	)		(8.9	)		(8.5	)
Equity in Earnings of Affiliated Companies (billions of yen)		90.0			78.3			89.6			104.0			362.0			137.8			97.2			123.8			111.2			470.0			440.0
Net Income (billions of yen)		552.4			393.7			486.5			398.4			1,831.1			613.0			458.2			941.8			480.8			2,493.9			2,120.0	^(Note 2)
(Net Income Ratio) (%)		(8.4	)		(6.1	)		(6.9	)		(5.4	)		(6.6	)		(8.7	)		(6.4	)		(12.4	)		(6.3	)		(8.5	)		(7.3	)
Dividends
Common Shares
Cash Dividends (billions of yen)		—			300.3			—			327.2			627.5			—			293.4			—			349.1			642.6	^(Note 3)
Cash Dividends per Share (yen)		—			100			—			110			210			—			100			—			120			220
Payout Ratio (%)		—			32.1			—			37.3			34.6			—			27.8			—			24.8			26.1
Model AA Class Shares
Cash Dividends (billions of yen)		—			2.4			—			2.4			4.9			—			3.7			—			3.7			7.4	^{(Note 3)}
Cash Dividends per Share (yen)		—			52.5			—			52.5			105			—			79			—			79			158
Value of Shares Repurchased (billions of yen) [actual purchase]		147.7			352.2			104.7			95.1			699.9			—			249.9			34.9			214.9			499.9	^(Note 4)
Value of Shares Repurchased (billions of yen)[shareholder return]		—			199.9			—			249.9			449.9			—			249.9			—			300.0 (maximum	)		549.9 (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			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			47,100			47,100			47,100			47,100

Supplemental 2

Supplemental Material for Financial Results for FY2018 (Consolidated)

< U.S. GAAP >


	FY2017										FY2018											FY2019
	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)		2Q (2017/7-9)		3Q (2017/10-12)		4Q (2018/1-3)		12 months (’17/4-’18/3)			Forecast 12 months (’18/4-’19/3)
R&D Expenses (billions of yen)		274.1		258.2		261.5		243.5		1,037.5		278.6		272.0		264.3		249.2		1,064.2			1,080.0
Depreciation Expenses (billions of yen)		205.8		215.1		225.3		246.9		893.2		212.9		242.3		248.5		260.6		964.4			1,000.0	^(Note 7)
Geographic Information
Japan		111.9		120.2		125.4		139.6		497.2		108.4		132.6		136.4		145.9		523.4			550.0
North America		42.0		43.1		44.0		49.1		178.4		45.5		48.7		51.8		55.7		201.9			190.0
Europe		11.1		11.7		13.3		14.0		50.3		15.4		16.3		15.4		13.2		60.5			80.0
Asia		32.2		31.5		33.1		34.8		131.7		34.1		35.3		35.1		37.1		141.7			140.0
Other		8.4		8.3		9.3		9.3		35.4		9.2		9.2		9.6		8.6		36.7			40.0
Capital Expenditures (billions of yen)		253.3		257.8		268.2		432.3		1,211.8		205.7		285.1		299.4		512.3		1,302.7			1,370.0	^(Note 7)
Geographic Information
Japan		135.1		137.3		133.7		233.9		640.2		112.5		152.1		156.9		264.0		685.7			730.0
North America		70.1		85.3		84.4		134.5		374.5		65.3		70.9		83.5		139.0		358.8			320.0
Europe		10.8		12.9		12.8		22.3		58.9		4.8		15.0		16.1		23.4		59.6			130.0
Asia		29.1		14.4		29.2		30.2		103.1		13.3		29.3		21.1		62.9		126.8			120.0
Other		8.0		7.7		7.9		11.2		34.9		9.6		17.6		21.7		22.7		71.7			70.0
Total Liquid Assets (billions of yen)		8,700.2		8,469.6		8,819.3		9,199.5		9,199.5		9,364.0		9,306.7		9,309.1		9,372.1		9,372.1	^(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		50,253.0		51,216.4		50,308.2		50,308.2
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		18,253.4		18,996.4		18,735.9		18,735.9
Return on Equity (%)		13.4		9.6		11.5		9.1		10.6		13.8		10.1		20.2		10.1		13.7
Return on Asset (%)		4.8		3.6		4.2		3.3		3.8		5.0		3.7		7.4		3.8		5.0
Number of Consolidated Subsidiaries (including Variable Interest Entities)										597										606
No. of Affil. Accounted for Under the Equity Method										54										57


Analysis of Consolidated Net Income for FY2018^(Note 2) (billions of yen, approximately)	4Q (2018/1-3)		12 months (’17/4-’18/3)
Effects of Marketing Activities		55.0		-100.0
Effects of Changes in Exchange Rates*¹		-30.0		265.0
Cost Reduction Efforts		30.0		165.0
From Engineering		15.0		120.0
From Manufacturing and Logistics		15.0		45.0
Decreases in Expenses, etc.		145.0		60.0
Other		-9.3		15.4
(Changes in Operating Income)		190.7		405.4
Non-operating Income		-3.1		21.1
Equity in Earnings of Affiliated Companies		7.1		108.0
Income Taxes, Net Income Attributable to Noncontrolling Interests*²		-112.3		128.2
(Changes in Net Income)*²		82.4		662.8	^(Note 2)

*1	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 (Unconsolidated)

< Japan GAAP >


	FY2017															FY2018															FY2019
	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)			2Q (2017/7-9)			3Q (2017/10-12)			4Q (2018/1-3)			12 months (’17/4-’18/3)			Forecast 12 months (’18/4-’19/3)
Toyota & Lexus brand
Domestic Vehicle Production (thousands of units)		740			844			777			827			3,188			757			779			827			836			3,199			3,190
Overseas Vehicle Production (thousands of units)		1,494			1,422			1,477			1,498			5,891			1,464			1,420			1,435			1,405			5,724			5,710
Domestic Vehicle Retail Sales (thousands of units)		366			413			382			475			1,636			390			383			384			440			1,597			1,530
Exports Vehicle Sales (thousands of units)		393			456			462			415			1,726			440			457			504			481			1,882			1,900
North America		160			175			201			170			706			190			193			220			193			796			820
Europe		60			73			65			66			264			57			63			57			71			248			260
Asia		59			77			74			57			267			72			77			97			77			323			300
Central and South America		10			14			11			14			49			12			12			14			15			53			50
Oceania		36			43			35			40			154			40			42			38			46			166			170
Africa		13			15			14			11			53			14			15			13			12			54			60
Middle East		54			57			61			55			227			53			54			63			64			234			240
Other		1			2			1			2			6			2			1			2			3			8
Net Revenues (billions of yen)		2,644.8			2,854.8			2,978.2			2,998.3			11,476.3			2,870.2			2,918.1			3,259.8			3,153.2			12,201.4			11,900.0
Domestic		939.6			1,036.7			973.2			1,135.9			4,085.5			962.8			946.5			1,067.5			1,098.4			4,075.4
Exports		1,705.2			1,818.0			2,004.9			1,862.3			7,390.7			1,907.3			1,971.5			2,192.2			2,054.8			8,126.0
Operating Income (billions of yen)		243.6			116.3			118.3			358.8			837.2			222.4			215.5			343.3			476.1			1,257.5			1,070.0
(Operating Income Ratio) (%)		(9.2	)		(4.1	)		(4.0	)		(12.0	)		(7.3	)		(7.8	)		(7.4	)		(10.5	)		(15.1	)		(10.3	)		(9.0	)
Ordinary Income (billions of yen)		479.2			383.3			552.8			386.3			1,801.7			570.7			513.2			674.4			479.7			2,238.1			1,850.0
(Ordinary Income Ratio) (%)		(18.1	)		(13.4	)		(18.6	)		(12.9	)		(15.7	)		(19.9	)		(17.6	)		(20.7	)		(15.2	)		(18.3	)		(15.5	)
Net Income (billions of yen)		406.8			331.1			479.1			312.7			1,529.9			488.1			437.4			585.7			347.9			1,859.3			1,520.0
(Net Income Ratio) (%)		(15.4	)		(11.6	)		(16.1	)		(10.4	)		(13.3	)		(17.0	)		(15.0	)		(18.0	)		(11.0	)		(15.2	)		(12.8	)
R&D Expenses (billions of yen)		237.4			226.4			232.9			212.8			909.6			241.6			237.3			230.3			211.2			920.6			920.0
Depreciation Expenses (billions of yen)		57.5			55.6			50.4			49.0			212.6			58.4			58.0			56.0			55.2			227.8			250.0
Capital Expenditures (billions of yen)		64.9			56.8			63.1			109.6			294.5			54.0			57.6			60.0			113.2			284.8			330.0


Analysis of Unconsolidated Net Income for FY2018 (billions of yen, approximately)	4Q (2018/1-3)		12 months (’17/4-’18/3)
Marketing Efforts		55.0		25.0
Effects of Changes in Exchange Rates*³		-15.0		255.0
Cost Reduction Efforts		30.0		130.0
From Engineering		25.0		115.0
From Manufacturing and Logistics		5.0		15.0
Decreases in Expenses, etc.		45.0		10.0
Other		2.3		0.3
(Changes in Operating Income)		117.3		420.3
Non-operating Income		-23.8		16.1
Income Taxes, etc.		-58.2		-107.0
(Changes in Net Income)		35.1		329.4

Cautionary Statement with Respect to Forward-Looking Statements

This report contains forward-looking statements that reflect Toyota’s plans and expectations.

(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)

Cash and cash equivalents, time deposits, marketable debt securities and its investment in monetary trust funds, excluding in eash case those relating to financial services

*3	Translational impacts concerning provisions in foreign currencies are included in “Effects of Changes in Exchange Rates.”

Supplemental 4

Toyota Motor (TM) 6-KReport of Foreign Private Issuer

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