FY2008 First Quarter Financial Results FY2008 First Quarter Financial Results Three months ended June 30, 2007 Three months ended June 30, 2007 -prepared in accordance with U.S.GAAP- -prepared in accordance with U.S.GAAP- Toyota Motor Corporation Toyota Motor Corporation August 3, 2007 August 3, 2007
Cautionary Statement with Respect to Forward-Looking Statements 2 This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe 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 and the British pound; (iii) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) 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 trade, environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in 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. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.
Caution concerning Insider Trading 3 Under Japanese securities laws and regulations (the "Regulations"), subject to certain exceptions, any person who receives certain material information relating to the business, etc., of Toyota which may be contained in this document is prohibited from trading in Toyota's shares or certain other transactions related to such shares (as set forth in the Regulations) until such material information is deemed to be made public. Under the Regulations, material information is deemed to be made public when (i) such material information is disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office (posting on the TDnet (Timely Disclosure Network) information service and ED-NET (Electronic Disclosure Network) information service ) or (ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information to at least two (2) media sources as prescribed by the Regulations.
Takahiko Ijichi Takahiko Ijichi Managing Officer Managing Officer
【 Financial Results 】 FY2008 First Quarter
Consolidated Vehicle Sales 6 （ thousands of vehicles ） 2,162 (+ 71) 2,091 345 (+ 45) 2,000 300 222 (+ 29) 193 308 333 (+ 25) Other 1,000 747 (+ 15) 762 Asia Europe N. America （ -43 ） 543 500 Japan 0 Change '06/4-6 '07/4-6 〔 2,208 〕 〔 2,365 〕 〔 + 157 〕 -Figures in square brackets show total retail vehicle sales in thousands
Consolidated Financial Summary 7 (billions of yen) FY2008 Q1 FY2007 Q1 Change （ ’07/4-6 ） （ ’06/4-6 ） Net Revenues 6,522.6 5,638.1 884.5 15.7% Net Revenues 6,522.6 5,638.1 884.5 15.7% Operating Income Operating Income 675.4 512.4 163.0 31.8% 675.4 512.4 163.0 31.8% Income before income taxes, Income before income taxes, 739.0 554.6 184.4 33.2% 739.0 554.6 184.4 33.2% minority interest and equity minority interest and equity earnings of affiliated companies earnings of affiliated companies Net Income 491.5 371.5 120.0 32.3% Net Income 491.5 371.5 120.0 32.3% $ $ 121 yen 115 yen + 6 yen 121 yen 115 yen + 6 yen FOREX Rates FOREX Rates € € 163 yen 144 yen + 19 yen 163 yen 144 yen + 19 yen
Contributing Factors to Consolidated Operating Income 8 (billions of yen) Cost Reduction Efforts Effect of favorable 675.4 + 20.0 FOREX rates 700 (+ 163.0) + 100.0 650 600 Increases in Expenses - 57.0 550 512.4 500 Marketing Efforts + 100.0 450 400 '06/4-6 '07/4-6 < Details of Increases in Expenses > Depreciation and Valuation loss of interest - 21.5 CAPEX related costs......... - 1.0 swap rates .......................... - 21.1 R&D Expenses................... Others ................................ - 1.9 - 11.5 Labor costs .......................
Geographic Operating Income:Japan 9 <Consolidated Vehicle Sales (thousands of vehicles)> (billions of yen) 543 659 FY 07/3 FY 08/3 541 500 530 600 391.4 396.6 389.3 383.5 400 293.0 200 + 103.6 billion yen 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 -Increase in exports mainly contributed to increase in profit. -Improved product mix due to strong sales of the new Lexus LS.
Geographic Operating Income:North America 10 <Consolidated Vehicle Sales (thousands of vehicles)> (billions of yen) 762 FY 08/3 764 FY 07/3 200 747 160.2 717 714 150 140.1 110.4 100.0 99.1 100 + 20.1 billion yen 50 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 -Strong sales of fuel efficient vehicles and new models-Tundra and Lexus LS. - Increase in vehicle sales of the Tundra contributed to increased profit.
Geographic Operating Income: Europe 11 <Consolidated Vehicle Sales (thousands of vehicles)> (billions of yen) 333 FY 08/3 FY 07/3 329 50 306 308 281 38.5 40 36.5 36.5 34.8 29.5 30 20 + 2.0 billion yen 10 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 -Continued to increase profit, mainly due to the strong start of the Auris.
Geographic Operating Income: Asia 12 <Consolidated Vehicle Sales (thousands of vehicles)> (billions of yen) 222 FY 08/3 FY 07/3 204 203 189 193 60 49.6 40 31.3 30.0 28.2 28.1 20 + 19.6 billion yen 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 -Sales recovery, mainly in Indonesia. -Contribution to the increased profit by Chinese subsidiaries, from expanded local operations in China.
Geographic Operating Income: Other 13 <Consolidated Vehicle Sales (thousands of vehicles)> (billions of yen) 345 FY 08/3 340 FY 07/3 337 319 300 60 38.6 40 31.0 20.2 20 15.9 16.4 + 22.7 billion yen 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 -Favorable sales in all regions contributed to increased profit.
Business Segment: Financial Services 14 <Operating Income> (billions of yen) 48.3 47.7 50 41.3 40 37.3 32.2 30 20 + 0.6 billion yen 10 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 -Profit increased due to the steady increase in the outstanding loan balance. -Valuation loss on interest swap rates = - 1.0 billion yen.
Equity Earnings of Affiliated Companies 15 (billions of yen) 81.8 80 66.1 56.2 60 54.0 40 33.2 + 25.6 billion yen 20 0 '06/4-6 '07/4-6 '06/7-9 '06/10-12 '07/1-3 (4.5) (14.7) (6.5) (14.2) China(included above ) (- 1.1) - Strong performance led by Toyota Group companies in Japan and Chinese joint venture companies
Unconsolidated Financial Summary (Japan GAAP) 16 (billions of yen) FY2008 Q1 FY2007 Q1 Change （ ’07/4-6 ） （ ’06/4-6 ） Net Revenues 2,908.8 2,698.5 Net Revenues 2,908.8 2,698.5 210.3 7.8% 210.3 7.8% Operating Income Operating Income 324.6 246.5 324.6 246.5 78.1 31.7% 78.1 31.7% Ordinary Income 511.0 399.9 Ordinary Income 511.0 399.9 111.1 27.8% 111.1 27.8% Net Income 361.5 277.6 Net Income 361.5 277.6 83.9 30.2% 83.9 30.2%
Contributing Factors to Unconsolidated Operating Income 17 Cost Reduction Efforts (billions of yen) + 10.0 Marketing Efforts 324.6 350 + 40.0 (+ 78.1) Increases in Expenses 300 - 71.9 246.5 250 Effect of favorable FOREX rates 200 + 100.0 150 '06/4-6 '07/4-6 <Details of Increases in Expenses> R&D Expenses..................... Others....... - 51.6 - 13.0 Depreciation and CAPEX related costs........... - 8.1 Labor costs.................. +0.8
【 Prospects for FY2008 】 FY2008 First Quarter
Consolidated Prospects: Vehicle Sales 19 8,890 (+ 366) (thousands of vehicles) 8,524 1,420 (+ 124) 8,000 1,296 890 7,000 (+ 101) 789 1,270 6,000 (+ 46) 1,224 5,000 Other 4,000 2,990 (+ 48) 2,942 Asia 3,000 Europe 2,000 N.America 2,320 2,273 (+ 47) Japan 1,000 0 '06/4-'07/3 '07/4-'08/3 【 FY 2008 Prospects 】 【 FY 2007 Results 】 Figures in parenthesis represent expected year-on-year change
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