6-K

TOYOTA MOTOR CORP/ (TM)

6-K 2024-02-06 For: 2024-02-06
View Original
Added on April 02, 2026

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report ofForeign Private Issuer

Pursuant to Rule 13a-16 or15d-16 under

the Securities Exchange Act of 1934

For the month of February, 2024

Commission File Number 001-14948

Toyota Motor Corporation

(Translation of Registrant’s Name Into English)

1, Toyota-cho, Toyota City,

Aichi Prefecture 471-8571,

Japan

(Addressof Principal Executive Offices)

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

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

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

Material Contained in this Report:

I. English translations of the original Japanese-language documents, as filed with the Tokyo Stock Exchange on<br>February 6, 2024, with respect to the registrant’s results of operations for the third quarter of FY2024 ended December 31, 2023.

SIGNATURES

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

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

Date: February 6, 2024

FY2024 Third Quarter Financial Summary

Table of Contents

FINANCIAL SUMMARY

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

FY2024 Third Quarter

(April 1, 2023 through December 31, 2023)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

Table of Contents

FY2024 Third Quarter Consolidated Financial Results

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

English translation from the original Japanese-language document

February 6, 2024

Company name : Toyota Motor Corporation
Stock exchanges on which the shares are listed : Tokyo and Nagoya Stock Exchanges in Japan
Code number : 7203
URL : https://global.toyota/jp/
Representative : Koji Sato, President
Contact person : Hideaki Hayashi, General Manager, Accounting Division<br><br><br>Tel. (0565)28-2121
Filing date of quarterly securities report : February 13, 2024
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 FY2024 First nine months (April 1, 2023 through December 31, 2023)
(1) Consolidated financial results (For the nine months ended December 31)
--- ---
(% of change from previous first nine months)
--- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Sales revenues Operating income Income beforeincome taxes Net income Net incomeattributable to<br>Toyota MotorCorporation Comprehensiveincome
Million yen % Million yen % Million yen % Million yen % Million yen % Million yen %
FY2024 first nine months 34,022,720 23.9 4,240,238 102.1 5,357,065 86.7 4,031,624 105.3 3,947,242 107.9 5,415,334 123.4
FY2023 first nine months 27,464,033 18.0 2,098,095 -17.1 2,869,274 -11.4 1,964,122 -17.6 1,899,026 -18.0 2,424,351 -8.0
Earnings per share attributable toToyota Motor Corporation – Basic Earnings per share attributable toToyota Motor Corporation – Diluted
--- --- --- --- ---
Yen Yen
FY2024 first nine months 291.87 291.87
FY2023 first nine months 138.78 138.78
(2) Consolidated financial position
--- ---
Total assets Total shareholders’ equity Toyota Motor Corporation<br>shareholders’ equity Ratio of<br>Toyota Motor Corporation<br>shareholders’ equity
--- --- --- --- --- --- --- --- ---
Million yen Million yen Million yen %
FY2024 third quarter 84,232,154 33,523,966 32,561,697 38.7
FY2023 74,303,180 29,264,213 28,338,706 38.1
2. Cash Dividends
--- ---
Annual cash dividends per common share
--- --- --- --- --- --- --- --- --- --- ---
End of firstquarter End of secondquarter End of thirdquarter Year-end Total
Yen Yen Yen Yen Yen
FY2023 25.00 35.00 60.00
FY2024 30.00
FY2024 (forecast)
(Note) Revisions to the forecast of cash dividends since the latest announcement: none
--- ---
Table of Contents
3. Forecast of Consolidated Results for FY2024 (April 1, 2023 through March 31, 2024)
(% of change from FY2023)
--- --- --- --- --- --- --- --- --- --- --- --- --- ---
Sales revenues Operating income Income before incometaxes Net income attributable to<br><br><br>Toyota MotorCorporation Earnings per shareattributable toToyotaMotor Corporation – Basic
Million yen % Million yen % Million yen % Million yen % Yen
Full-year 43,500,000 17.1 4,900,000 79.8 6,200,000 69.0 4,500,000 83.6 332.97
(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) Changes in accounting policies and changes in accounting estimates
(i) Changes in accounting policies required by IFRS: none
--- ---
(ii) Changes other than (2)-(i) above: none
--- ---
(iii) Changes in accounting estimates: none
--- ---
(3) Number of shares issued and outstanding (common stock)
--- ---
(i) Number of shares issued and outstanding at the end of each period (including treasury stock): FY2024 third<br>quarter 16,314,987,460 shares, FY2023 16,314,987,460 shares
--- ---
(ii) Number of treasury stock at the end of each period: FY2024 third quarter 2,829,136,593 shares, FY2023<br>2,749,807,731 shares
--- ---
(iii) Average number of shares issued and outstanding in each period: FY2024 first nine months 13,524,128,807 shares,<br>FY2023 first nine months 13,684,168,898 shares
--- ---

These consolidated financial results are not subject to certified publicaccountant’s or audit firm’s quarterly review.

Cautionary Statement with Respect to Forward-Looking Statements, and Other Information

This report contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Canadian dollar and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations and government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies, as well as information security; (xiii) fuel shortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold; (xiv) the impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social infrastructure, wars, terrorism and labor strikes, including their negative effect on Toyota’s vehicle production and sales; (xv) the impact of climate change and the transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources.

A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

In order to convey top management’s aspirations and the company’s direction to all those whose lives are touched by Toyota, Toyota communicates what Toyota is really like through “Toyota Times.”

“Toyota Times” (https://toyotatimes.jp/en/)

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

TABLE OF CONTENTS

Unaudited Condensed Quarterly Consolidated Financial Statements andNotes to Unaudited Condensed Quarterly Consolidated Financial Statements 2
1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position 2
2. Unaudited Condensed Quarterly Consolidated Statement of Income and<br>Unaudited<br> Condensed Quarterly Consolidated Statement of Comprehensive Income 4
3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity 8
4. Unaudited Condensed Quarterly Consolidated Statement of Cash<br>Flows 9
5. Going Concern Assumption 10

Supplemental Material for Financial Results for FY2024 Third Quarter

—1—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated FinancialStatements and

Notes to Unaudited Condensed Quarterly Consolidated Financial Statements

  1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position
Yen in millions
March 31, 2023 December 31, 2023
Assets
Current assets
Cash and cash equivalents 7,516,966 7,583,154
Trade accounts and other receivables 3,586,130 3,818,470
Receivables related to financial services 8,279,806 10,426,656
Other financial assets 1,715,675 4,650,916
Inventories 4,255,614 4,294,143
Income tax receivable 218,704 133,032
Other current assets 886,885 948,347
Total current assets 26,459,781 31,854,717
Non-current assets
Investments accounted for using the equity method 5,227,345 5,641,846
Receivables related to financial services 16,491,045 19,124,065
Other financial assets 10,556,431 10,923,018
Property, plant and equipment
Land 1,426,370 1,433,969
Buildings 5,464,811 5,652,447
Machinery and equipment 14,796,619 15,681,350
Vehicles and equipment on operating leases 6,774,427 7,201,656
Construction in progress 846,866 950,517
Total property, plant and equipment, at cost 29,309,093 30,919,939
Less - Accumulated depreciation and impairment losses (16,675,119 ) (17,495,241 )
Total property, plant and equipment, net 12,633,974 13,424,699
Right of use assets 491,368 498,026
Intangible assets 1,249,122 1,321,958
Deferred tax assets 387,427 460,503
Other non-current assets 806,687 983,322
Total non-current assets 47,843,399 52,377,437
Total assets 74,303,180 84,232,154

—2—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Yen in millions
March 31, 2023 December 31, 2023
Liabilities
Current liabilities
Trade accounts and other payables 4,986,309 4,909,386
Short-term and current portion of long-term debt 12,305,639 14,703,717
Accrued expenses 1,552,345 1,607,868
Other financial liabilities 1,392,397 1,525,810
Income taxes payable 404,606 723,123
Liabilities for quality assurance 1,686,357 1,806,249
Other current liabilities 1,632,063 1,796,656
Total current liabilities 23,959,715 27,072,808
Non-current liabilities
Long-term debt 17,074,634 19,256,186
Other financial liabilities 533,710 480,470
Retirement benefit liabilities 1,065,508 1,115,974
Deferred tax liabilities 1,802,346 2,071,268
Other non-current liabilities 603,052 711,481
Total non-current liabilities 21,079,251 23,635,380
Total liabilities 45,038,967 50,708,188
Shareholders’ equity
Common stock 397,050 397,050
Additional paid-in capital 498,728 494,286
Retained earnings 28,343,296 31,726,790
Other components of equity 2,836,195 3,871,068
Treasury stock (3,736,562 ) (3,927,497 )
Total Toyota Motor Corporation shareholders’ equity 28,338,706 32,561,697
Non-controlling interests 925,507 962,269
Total shareholders’ equity 29,264,213 33,523,966
Total liabilities and shareholders’ equity 74,303,180 84,232,154

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Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

  1. Unaudited Condensed Quarterly Consolidated Statement of Income and

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Unaudited Condensed Quarterly Consolidated Statement of Income

Yen in millions
For the first nine months ended<br>December 31, 2022 For the first nine months ended<br>December 31, 2023
Sales revenues
Sales of products 25,383,850 31,511,767
Financial services 2,080,183 2,510,953
Total sales revenues 27,464,033 34,022,720
Costs and expenses
Cost of products sold 21,435,002 25,345,445
Cost of financial services 1,280,860 1,559,145
Selling, general and administrative 2,650,076 2,877,893
Total costs and expenses 25,365,938 29,782,483
Operating income 2,098,095 4,240,238
Share of profit (loss) of investments accounted for using the equity method 474,716 596,181
Other finance income 307,518 544,304
Other finance costs (108,313 ) (78,752 )
Foreign exchange gain (loss), net 128,375 55,334
Other income (loss), net (31,118 ) (239 )
Income before income taxes 2,869,274 5,357,065
Income tax expense 905,153 1,325,441
Net income 1,964,122 4,031,624
Net income attributable to
Toyota Motor Corporation 1,899,026 3,947,242
Non-controlling interests 65,096 84,382
Net income 1,964,122 4,031,624
Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted 138.78 291.87

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Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Yen in millions
For the first nine months ended<br>December 31, 2022 For the first nine months ended<br>December 31, 2023
Net income 1,964,122 4,031,624
Other comprehensive income, net of tax
Items that will not be reclassified to profit (loss)
Net changes in revaluation of financial assets measured at fair value through other comprehensive<br>income (29,503 ) 361,529
Remeasurements of defined benefit plans (12,242 ) (8,170 )
Share of other comprehensive income of equity method investees (109,051 ) 197,931
Total of items that will not be reclassified to profit (loss) (150,797 ) 551,290
Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations 529,140 603,550
Net changes in revaluation of financial assets measured at fair value through other comprehensive<br>income (170,000 ) 47,605
Share of other comprehensive income of equity method investees 251,886 181,264
Total of items that may be reclassified subsequently to profit (loss) 611,026 832,420
Total other comprehensive income, net of tax 460,229 1,383,710
Comprehensive income 2,424,351 5,415,334
Comprehensive income for the period attributable to
Toyota Motor Corporation 2,353,007 5,298,565
Non-controlling interests 71,344 116,769
Comprehensive income 2,424,351 5,415,334

—5—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Income

Yen in millions
For the third quarter ended<br>December 31, 2022 For the third quarter ended<br>December 31, 2023
Sales revenues
Sales of products 9,019,920 11,128,325
Financial services 734,765 912,778
Total sales revenues 9,754,685 12,041,104
Costs and expenses
Cost of products sold 7,385,754 8,802,750
Cost of financial services 435,638 553,063
Selling, general and administrative 976,641 1,004,347
Total costs and expenses 8,798,033 10,360,160
Operating income 956,652 1,680,944
Share of profit (loss) of investments accounted for using the equity method 170,093 217,651
Other finance income 110,164 206,364
Other finance costs (37,963 ) (34,452 )
Foreign exchange gain (loss), net (163,080 ) (244,042 )
Other income (loss), net (868 ) 9,075
Income before income taxes 1,034,998 1,835,540
Income tax expense 290,432 451,437
Net income 744,566 1,384,103
Net income attributable to
Toyota Motor Corporation 727,942 1,357,814
Non-controlling interests 16,624 26,289
Net income 744,566 1,384,103
Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted 53.40 100.62

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Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Yen in millions
For the third quarter ended<br>December 31, 2022 For the third quarter ended<br>December 31, 2023
Net income 744,566 1,384,103
Other comprehensive income, net of tax
Items that will not be reclassified to profit (loss)
Net changes in revaluation of financial assets measured at fair value through other comprehensive<br>income (55,682 ) (15,089 )
Remeasurements of defined benefit plans (3,546 ) (2,969 )
Share of other comprehensive income of equity method investees (28,947 ) 19,116
Total of items that will not be reclassified to profit (loss) (88,175 ) 1,058
Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations (714,507 ) (340,565 )
Net changes in revaluation of financial assets measured at fair value through other comprehensive<br>income 13,228 111,982
Share of other comprehensive income of equity method investees 14,675 13,370
Total of items that may be reclassified subsequently to profit (loss) (686,605 ) (215,213 )
Total other comprehensive income, net of tax (774,780 ) (214,155 )
Comprehensive income (30,214 ) 1,169,948
Comprehensive income for the period attributable to
Toyota Motor Corporation (18,411 ) 1,152,843
Non-controlling interests (11,803 ) 17,105
Comprehensive income (30,214 ) 1,169,948

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Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

  1. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity

For the first nine months ended December 31, 2022

Yen in millions
Common<br>stock Additional<br>paid-incapital Retained<br>earnings Other<br>components<br>of equity Treasury<br>stock Toyota MotorCorporationshareholders’equity Non-controllinginterests Total<br>shareholders’<br>equity
Balances at April 1, 2022 397,050 498,575 26,453,126 2,203,254 (3,306,037 ) 26,245,969 908,851 27,154,820
Comprehensive income
Net income 1,899,026 1,899,026 65,096 1,964,122
Other comprehensive income, net of tax 453,981 453,981 6,248 460,229
Total comprehensive income 1,899,026 453,981 2,353,007 71,344 2,424,351
Transactions with owners and other
Dividends paid (727,980 ) (727,980 ) (84,573 ) (812,552 )
Repurchase of treasury stock (336,577 ) (336,577 ) (336,577 )
Reissuance of treasury stock 334 573 907 907
Equity transactions and other 499 499 18,575 19,074
Total transactions with owners and other 833 (727,980 ) (336,004 ) (1,063,151 ) (65,997 ) (1,129,148 )
Reclassification to retained earnings 72,019 (72,019 )
Balances at December 31, 2022 397,050 499,408 27,696,192 2,585,216 (3,642,041 ) 27,535,825 914,198 28,450,023
For the first nine months endedDecember 31, 2023 ****
Yen in millions
Common<br>stock Additional<br>paid-incapital Retained<br>earnings Other<br>components<br>of equity Treasury<br>stock Toyota MotorCorporationshareholders’equity Non-controllinginterests Total<br>shareholders’<br>equity
Balances at April 1, 2023 397,050 498,728 28,343,296 2,836,195 (3,736,562 ) 28,338,706 925,507 29,264,213
Comprehensive income
Net income 3,947,242 3,947,242 84,382 4,031,624
Other comprehensive income, net of tax 1,351,323 1,351,323 32,387 1,383,710
Total comprehensive income 3,947,242 1,351,323 5,298,565 116,769 5,415,334
Transactions with owners and other
Dividends paid (880,197 ) (880,197 ) (89,298 ) (969,494 )
Repurchase of treasury stock (191,584 ) (191,584 ) (191,584 )
Reissuance of treasury stock 263 649 911 911
Equity transactions and other (4,704 ) (4,704 ) 9,290 4,586
Total transactions with owners and other (4,442 ) (880,197 ) (190,935 ) (1,075,573 ) (80,008 ) (1,155,581 )
Reclassification to retained earnings 316,450 (316,450 )
Balances at December 31, 2023 397,050 494,286 31,726,790 3,871,068 (3,927,497 ) 32,561,697 962,269 33,523,966

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Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

  1. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows
Yen in millions
For the first nine months ended<br>December 31, 2022 For the first nine months ended<br>December 31, 2023
Cash flows from operating activities
Net income 1,964,122 4,031,624
Depreciation and amortization 1,534,759 1,535,393
Interest income and interest costs related to financial services, net (534,217 ) (564,332 )
Share of profit (loss) of investments accounted for using the equity method (474,716 ) (596,181 )
Income tax expense 905,153 1,325,441
Changes in operating assets and liabilities, and other (1,432,634 ) (3,340,602 )
Interest received 1,082,133 1,620,707
Dividends received 459,340 581,452
Interest paid (401,044 ) (775,664 )
Income taxes paid, net of refunds (1,276,972 ) (1,031,698 )
Net cash provided by (used in) operating activities 1,825,923 2,786,141
Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others (1,095,573 ) (1,242,206 )
Additions to equipment leased to others (1,406,217 ) (2,048,034 )
Proceeds from sales of fixed assets excluding equipment leased to others 35,211 77,716
Proceeds from sales of equipment leased to others 1,261,624 1,445,164
Additions to intangible assets (253,581 ) (234,748 )
Additions to public and corporate bonds and stocks (1,104,568 ) (1,926,369 )
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and<br>corporate bonds 941,742 1,783,141
Other, net 107,768 (2,084,792 )
Net cash provided by (used in) investing activities (1,513,593 ) (4,230,129 )
Cash flows from financing activities
Increase (decrease) in short-term debt 222,629 486,043
Proceeds from long-term debt 6,591,101 8,410,408
Payments of long-term debt (6,161,781 ) (6,112,456 )
Dividends paid to Toyota Motor Corporation common shareholders (727,980 ) (880,197 )
Dividends paid to non-controlling interests (84,573 ) (89,298 )
Reissuance (repurchase) of treasury stock (336,577 ) (191,584 )
Other, net 11,544
Net cash provided by (used in) financing activities (497,181 ) 1,634,461
Effect of exchange rate changes on cash and cash equivalents 93,285 (124,286 )
Net increase (decrease) in cash and cash equivalents (91,566 ) 66,188
Cash and cash equivalents at beginning of period 6,113,655 7,516,966
Cash and cash equivalents at end of period 6,022,089 7,583,154

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Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Third Quarter Financial Summary

  1. Going Concern Assumption

None

—10—

Table of Contents

Supplemental Material for Financial Results for FY2024 Third Quarter(Consolidated)

< IFRS >

FY2023 FY2024 FY2024
1Q<br>(2022/4-6) 2Q<br>(2022/7-9) 3Q<br>(2022/10-12) 9 months<br>(2022/4-12) 4Q<br>(2023/1-3) 12 months<br>(‘22/4-‘23/3) 1Q<br>(2023/4-6) 2Q<br>(2023/7-9) 3Q<br>(2023/10-12) 9 months<br>(2023/4-12) Forecast<br>12 months<br>(‘23/4-‘24/3)
Vehicle Production (thousands of units) 1,936 2,179 2,243 6,358 2,336 8,694 2,345 2,379 2,444 7,168
(Japan)<br>–including Daihatsu & Hino 802 934 975 2,711 1,078 3,789 1,025 1,090 1,115 3,230
[Daihatsu & Hino] [208 ] [240 ] [285 ] [733 ] [269 ] [1,002 ] [190 ] [232 ] [247 ] [669 ]
(Overseas)<br>–including Daihatsu & Hino 1,135 1,245 1,268 3,647 1,258 4,905 1,321 1,289 1,328 3,939
[Daihatsu & Hino] [121 ] [157 ] [164 ] [441 ] [156 ] [597 ] [118 ] [139 ] [134 ] [391 ]
North America 452 460 415 1,328 441 1,768 520 482 475 1,477
Europe 201 183 210 595 176 771 223 161 238 622
Asia 372 468 510 1,350 508 1,859 437 498 489 1,423
Central and South America 104 105 95 303 95 398 102 105 91 298
Africa 5 28 38 71 38 109 39 44 35 118
Vehicle Sales (thousands of units) 2,013 2,146 2,331 6,491 2,331 8,822 2,326 2,418 2,551 7,295 9,450
(Japan)<br>–including Daihatsu & Hino 403 466 532 1,402 668 2,069 532 540 558 1,630 2,120
[Daihatsu & Hino] [126 ] [144 ] [169 ] [439 ] [182 ] [621 ] [134 ] [141 ] [154 ] [429 ] [470 ]
(Overseas)<br>–including Daihatsu & Hino 1,610 1,680 1,799 5,089 1,664 6,753 1,794 1,878 1,993 5,665 7,330
[Daihatsu & Hino] [68 ] [78 ] [92 ] [238 ] [83 ] [321 ] [69 ] [74 ] [64 ] [207 ] [280 ]
North America 635 610 607 1,852 555 2,407 682 703 776 2,161 2,760
Europe 248 231 277 757 273 1,030 286 270 327 884 1,170
Asia 361 456 476 1,293 458 1,751 417 478 480 1,376 1,760
Central and South America 123 128 144 394 115 509 128 126 120 374 480
Oceania 76 67 68 210 54 265 76 87 80 244 310
Africa 36 61 68 164 61 226 59 62 55 175 270
Middle East 130 126 157 413 145 559 143 149 151 443 580
Other 2 2 2 5 2 7 3 2 3 8
Total Retail Unit Sales (thousands of units)<br>[Toyota, Daihatsu and Hino] 2,544 2,625 2,721 7,889 2,669 10,558 2,751 2,845 2,968 8,564 11,230

Supplemental 1

Table of Contents

Supplemental Material for Financial Results for FY2024 Third Quarter (Consolidated)

< IFRS >

FY2023 FY2024 FY2024
1Q<br>(2022/4-6) 2Q<br>(2022/7-9) 3Q<br>(2022/10-12) 9 months<br>(2022/4-12) 4Q<br>(2023/1-3) 12 months<br>(‘22/4-‘23/3) 1Q<br>(2023/4-6) 2Q<br>(2023/7-9) 3Q<br>(2023/10-12) 9 months<br>(2023/4-12) Forecast<br>12 months<br>(‘23/4-‘24/3)
Foreign Exchange Rates
Yen to US Dollar Rate 130 138 141 136 132 135 137 145 148 143 as premise:143
Yen to Euro Rate 138 139 144 141 142 141 150 157 159 155 as premise:154
Number of Employees 376,971 377,369 375,396 375,396 375,235 375,235 379,659 381,576 380,737 380,737 ^(Note 1)^
Sales Revenues (billions of yen) 8,491.1 9,218.2 9,754.6 27,464.0 9,690.2 37,154.2 10,546.8 11,434.7 12,041.1 34,022.7 43,500.0
Geographic Information
Japan 3,899.7 4,290.1 4,582.2 12,772.1 4,811.0 17,583.1 5,105.5 5,404.7 5,626.8 16,137.2
North America 3,349.9 3,523.6 3,588.9 10,462.4 3,381.4 13,843.9 4,092.0 4,504.2 4,958.1 13,554.3
Europe 973.0 939.3 1,155.6 3,068.0 1,205.6 4,273.7 1,299.0 1,359.4 1,520.7 4,179.2
Asia 1,795.6 2,153.3 2,183.9 6,133.0 1,911.9 8,044.9 1,964.5 2,346.6 2,371.3 6,682.5
Other 828.7 907.5 907.1 2,643.4 828.7 3,472.1 1,024.6 1,165.1 974.0 3,163.7
Elimination -2,355.9 -2,595.8 -2,663.2 -7,615.0 -2,448.5 -10,063.6 -2,939.0 -3,345.3 -3,410.0 -9,694.4
Business Segment
Automotive 7,720.1 8,408.9 8,871.4 25,000.5 8,819.4 33,820.0 9,687.9 10,477.3 11,065.7 31,231.0
Financial Services 652.1 704.2 741.7 2,098.1 711.5 2,809.6 775.1 846.1 922.3 2,543.7
All Other 262.3 271.0 312.2 845.6 379.2 1,224.9 306.4 319.2 357.4 983.1
Elimination -143.4 -166.0 -170.6 -480.2 -220.0 -700.2 -222.7 -207.9 -304.4 -735.2
Operating Income (billions of yen) 578.6 562.7 956.6 2,098.0 626.9 2,725.0 1,120.9 1,438.3 1,680.9 4,240.2 4,900.0
(Operating Income Ratio) (%) (6.8 ) (6.1 ) (9.8 ) (7.6 ) (6.5 ) (7.3 ) (10.6 ) (12.6 ) (14.0 ) (12.5 ) (11.3 )
Geographic Information
Japan 336.7 521.1 683.4 1,541.3 360.1 1,901.4 701.9 879.1 1,104.1 2,685.1
North America 14.5 -85.6 -17.9 -89.0 14.2 -74.7 119.6 169.4 227.4 516.5
Europe 19.6 -65.5 62.6 16.7 40.7 57.4 83.0 99.3 103.1 285.5
Asia 212.7 178.9 168.7 560.3 154.0 714.4 186.2 224.9 238.4 649.6
Other 45.8 64.0 66.1 176.0 55.3 231.3 85.4 104.2 9.2 198.9
Elimination -50.8 -50.1 -6.3 -107.3 2.3 -104.9 -55.4 -38.7 -1.5 -95.6
Business Segment
Automotive 449.2 453.7 818.8 1,721.7 458.8 2,180.6 945.6 1,301.6 1,472.6 3,719.9
Financial Services 114.5 84.4 125.0 323.9 113.5 437.5 147.2 97.6 172.0 416.9
All Other 18.3 20.3 18.4 57.1 46.2 103.4 40.2 39.5 44.1 123.9
Elimination -3.4 4.3 -5.7 -4.8 8.3 3.4 -12.2 -0.4 -7.9 -20.6
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of<br>yen) 171.0 133.5 170.0 474.7 168.3 643.0 193.3 185.1 217.6 596.1 740.0
Income before Income Taxes (billions of yen) 1,021.7 812.5 1,034.9 2,869.2 799.4 3,668.7 1,720.5 1,800.9 1,835.5 5,357.0 6,200.0
(Income before Income Taxes Ratio) (%) (12.0 ) (8.8 ) (10.6 ) (10.4 ) (8.3 ) (9.9 ) (16.3 ) (15.7 ) (15.2 ) (15.7 ) (14.3 )
Net Income Attributable toToyota Motor Corporation (billions of yen) 736.8 434.2 727.9 1,899.0 552.2 2,451.3 1,311.3 1,278.0 1,357.8 3,947.2 4,500.0
(Net Income Ratio) (%) (8.7 ) (4.7 ) (7.5 ) (6.9 ) (5.7 ) (6.6 ) (12.4 ) (11.2 ) (11.3 ) (11.6 ) (10.3 )
Dividends
Cash Dividends (billions of yen) 342.1 342.1 474.7 816.9 405.4 405.4 ^(Note 2)^
Cash Dividends per Share (yen) 25 25 35 60 30 30
Payout Ratio (%) 29.2 29.2 37.1 33.4 15.6 15.6
Value of Shares Repurchased (billions of yen)[actual purchase] 121.3 74.2 141.0 336.5 94.5 431.0 34.3 82.1 75.0 191.5 ^(Note 3)^
Value of Shares Repurchased (billions of yen)[shareholder return] 149.9 149.9 149.9 299.9 100.0 ^^ 100.0^^ ^(Note 3) (Note 4)^
Number of Outstanding Shares (thousands) 16,314,987 16,314,987 16,314,987 16,314,987 16,314,987 16,314,987 16,314,987 16,314,987 16,314,987 16,314,987

Supplemental 2

Table of Contents

Supplemental Material for Financial Results for FY2024 Third Quarter (Consolidated)

< IFRS >

FY2023 FY2024 FY2024
1Q<br>(2022/4-6) 2Q<br>(2022/7-9) 3Q<br>(2022/10-12) 9 months<br>(2022/4-12) 4Q<br>(2023/1-3) 12 months<br>(‘22/4-‘23/3) 1Q<br>(2023/4-6) 2Q<br>(2023/7-9) 3Q<br>(2023/10-12) 9 months<br>(2023/4-12) Forecast<br>12 months<br>(‘23/4-‘24/3)
R&D Expenses (billions of yen) 302.2 318.4 298.8 919.5 322.0 1,241.6 294.8 314.0 289.2 898.1 1,240.0 ^(Note 5)^
Depreciation Expenses<br>(billions of yen) 284.3 289.7 298.1 872.2 312.7 1,185.0 298.3 303.2 302.9 904.5 1,260.0 ^(Note 6)^
Geographic Information
Japan 122.6 126.3 118.0 366.9 145.8 512.8 140.7 139.5 133.6 413.9
North America 87.4 95.3 94.4 277.2 89.4 366.6 79.4 84.5 91.4 255.4
Europe 22.1 20.4 20.9 63.5 22.3 85.9 21.4 23.4 21.3 66.2
Asia 39.9 42.5 56.2 138.7 45.2 184.0 46.1 44.6 45.4 136.1
Other 12.2 5.0 8.4 25.7 9.7 35.5 10.5 11.1 11.0 32.7
Capital Expenditures<br>(billions of yen) 274.6 407.4 358.8 1,040.9 564.9 1,605.8 366.6 442.8 486.9 1,296.4 1,970.0 ^(Note 6)^
Geographic Information
Japan 128.6 151.6 148.1 428.3 275.4 703.8 144.0 175.2 174.0 493.3
North America 97.9 175.3 120.1 393.4 162.7 556.1 154.1 159.5 182.6 496.3
Europe 10.3 10.3 16.9 37.6 24.1 61.7 12.5 28.9 23.4 64.8
Asia 25.7 65.5 63.4 154.7 68.1 222.9 41.1 54.9 89.4 185.5
Other 11.9 4.5 10.2 26.7 34.4 61.2 14.7 24.2 17.3 56.3
Total Liquid Assets (billions of yen) 10,532.2 11,004.6 10,278.7 10,278.7 11,313.7 11,313.7 12,287.8 13,808.6 14,143.6 14,143.6 ^(Note 7)^
Total Assets (billions of yen) 71,935.1 74,484.0 71,580.5 71,580.5 74,303.1 74,303.1 80,131.2 83,661.3 84,232.1 84,232.1
Toyota Motor Corporation Shareholders’ Equity (billions of yen) 27,374.8 28,037.2 27,535.8 27,535.8 28,338.7 28,338.7 30,330.0 31,893.1 32,561.6 32,561.6
Return on Equity (%) 11.0 6.3 10.5 9.4 7.9 9.0 17.9 16.4 16.9 17.3
Return on Asset (%) 4.2 2.4 4.0 3.6 3.0 3.5 6.8 6.2 6.5 6.6
Number of Consolidated Subsidiaries<br>(including Structured Entities) 569
Number of Associates and Joint Ventures Accounted for Using the Equity Method 168
Analysis of Consolidated Net Income<br><br><br>Attributable to Toyota Motor Corporation for FY2024<br><br><br>(billions of yen, approximately) 3Q<br>(2023/10-12) 9 months<br>(2023/4-12)
--- --- --- --- ---
Marketing Efforts 700.0 1,990.0
Effects of Changes in Exchange Rates 120.0 380.0
Cost Reduction Efforts 45.0 -65.0
From Engineering 15.0 -160.0
From Manufacturing and Logistics 30.0 95.0
Increase or Decrease in Expenses and Expense Reduction Efforts -80.0 -300.0
Other -60.8 137.1
(Changes in Operating Income) 724.2 2,142.1
Non-operating Income 76.2 345.6
Share of Profit (Loss) of Investments Accounted for Using the Equity Method 47.5 121.4
Income tax expense, Net Income Attributable to<br>Non-controlling Interests -170.6 -439.5
(Changes in Net Income Attributable to Toyota Motor Corporation) 629.8 2,048.2

Cautionary Statement with Respect to Forward-Looking Statements

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

These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

These factors include, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Canadian dollar and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial markets and increased competition in the financial services industry; (iv) Toyota’s ability to market and distribute effectively; (v) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyota’s automotive operations, particularly laws, regulations and government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota’s other operations, including the outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability in the markets in which Toyota operates; (viii) Toyota’s ability to timely develop and achieve market acceptance of new products that meet customer demand; (ix) any damage to Toyota’s brand image; (x) Toyota’s reliance on various suppliers for the provision of supplies; (xi) increases in prices of raw materials; (xii) Toyota’s reliance on various digital and information technologies, as well as information security; (xiii) fuel shortages or interruptions in electricity, transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold; (xiv) the impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social infrastructure, wars, terrorism and labor strikes, including their negative effect on Toyota’s vehicle production and sales; (xv) the impact of climate change and the transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources.

A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

(Note 1) Shows the number of employees as of the end of each period (excluding loan employees from Toyota to outside<br>Toyota and including loan employees from outside Toyota to Toyota)
(Note 2) 2Q= Interim Dividend, 4Q= Year-end Dividend, FY= Annual Dividend<br>
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(Note 3) Excluding shares constituting less than one unit that were purchased upon request and the commission fees<br>incurred for the repurchase
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(Note 4) Shareholder return on Net Income for the period (Stated the maximum total purchase price for the repurchase of<br>shares during the repurchase period, or the actual purchase price of shares repurchased after the completion of the repurchase period.)
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(Note 5) Figures for R&D expenses are R&D activity related expenditures incurred during the reporting period and<br>do not conform to “R&D Expenses” on Toyota’s Consolidated Statement of Income
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(Note 6) Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease or right<br>of use assets
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(Note 7) Cash and cash equivalents, time deposits, public and corporate bonds and its investment in monetary trust<br>funds, excluding in each case those relating to financial services
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Supplemental 3