FINANCIAL SUMMARY

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

FY2015 Second Quarter

(April 1, 2014 through September 30, 2014)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2015 Second Quarter Consolidated Financial Results

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

English translation from the original Japanese-language document

November 5, 2014

Company name	: Toyota Motor Corporation
Stock exchanges on which the shares are listed	: Tokyo, Nagoya, Sapporo and Fukuoka Stock   Exchanges in Japan
Code number	: 7203
URL	: http://www.toyota.co.jp
Representative	: Akio Toyoda, President
Contact person	: Hiroshi Nishida, Project General Manager, Accounting   Division   Tel. (0565)28-2121
Filing date of quarterly securities report	: November 13, 2014
Payment date of cash dividends	: November 27, 2014
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 FY2015 First Half (April 1, 2014 through September 30, 2014)

(1) Consolidated financial results (For the six months ended September 30)

	(% of change from previous first half)
	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		%
FY2015 first half		12,945,597		3.3		1,351,946		7.7		1,509,174		12.3		1,126,836		12.6
FY2014 first half		12,537,485		14.9		1,255,475		81.0		1,343,525		69.1		1,000,623		82.5

(Note) Comprehensive income: FY2015 first half 1,549,136 million yen (5.6%), FY2014 first half 1,467,422 million yen (351.2%)

	Net income attributable to Toyota Motor Corporation per share  –  Basic		Net income attributable to Toyota Motor Corporation per share  –  Diluted
	Yen		Yen
FY2015 first half		356.08		355.91
FY2014 first half		315.80		315.58

(2) Consolidated financial position

	Total assets		Shareholders’ equity		Toyota Motor Corporation shareholders’ equity		Ratio of Toyota Motor Corporation shareholders’ equity
	Million yen		Million yen		Million yen		%
FY2015 second quarter		43,784,073		16,236,532		15,469,555		35.3
FY2014		41,437,473		15,218,987		14,469,148		34.9

2. Cash Dividends

	Annual cash dividends per share
	End of first quarter		End of second quarter		End of third quarter		Year-end		Total
	Yen		Yen		Yen		Yen		Yen
FY2014		—		65.00		—		100.00		165.00
FY2015		—		75.00
FY2015 (forecast)						—		—		—

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

3. Forecast of Consolidated Results for FY2015 (April 1, 2014 through March 31, 2015)

	(% of change from FY2014)
	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 share – Basic
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Yen
Full-year		26,500,000		3.1		2,500,000		9.1		2,700,000		10.6		2,000,000		9.7		630.37

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

Notes

(1) Changes in significant subsidiaries during the current quarter

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

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

Note: For more details, please see page 5 “Other Information”.

(3) Changes in accounting policies

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

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

Note: For more details, please see page 5 “Other Information”.

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

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

FY2015 second quarter 3,417,997,492 shares, FY2014 3,447,997,492 shares

(ii) Number of treasury stock at the end of each period: FY2015 second quarter 245,245,745 shares,

FY2014 278,231,473 shares

(iii) Average number of shares issued and outstanding in each period: FY2015 first half 3,164,550,674 shares,

FY2014 first half 3,168,553,901 shares

Information Regarding the Quarterly Review Procedures

At the time of disclosure of this report, the procedures for review of quarterly consolidated financial statements, pursuant to the “Financial Instruments and Exchange Act” of Japan, have not been completed.

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 Form 20-F, which is on file with the United States Securities and Exchange Commission.

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

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

TABLE OF CONTENTS

1.  Qualitative Information Concerning Consolidated Financial Results for FY2015 First Half	2
(1) Financial Results	2
(2) Segment Operating Results	2
(3) Geographic Information	3
2.  Qualitative Information Concerning Forecast of Consolidated Financial Results for FY2015	4
3.  Other Information	5
(1) Changes in significant subsidiaries during the current period	5
(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements	5
(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements	5
4.  Consolidated Production and Sales	6
(1) Production	6
(2) Sales (by destination)	6
5.  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 Cash Flows	13
(4) Going Concern Assumption	13
(5) Segment Information	14
(6) Significant Changes in Shareholders’ Equity	16

1

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

1. Qualitative Information Concerning Consolidated Financial Results for FY2015 First Half

(1) Financial Results

Consolidated vehicle unit sales in Japan and overseas increased by 9 thousand units, or 0.2%, to 4,477 thousand units in FY2015 first half (the six months ended September 30, 2014) compared with FY2014 first half (the six months ended September 30, 2013). Vehicle unit sales in Japan decreased by 71 thousand units, or 6.4%, to 1,030 thousand units in FY2015 first half compared with FY2014 first half. Meanwhile, overseas vehicle unit sales increased by 80 thousand units, or 2.4%, to 3,447 thousand units in FY2015 first half compared with FY2014 first half.

As for the results of operations, net revenues increased by 408.1 billion yen, or 3.3%, to 12,945.5 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 96.4 billion yen, or 7.7%, to 1,351.9 billion yen in FY2015 first half compared with FY2014 first half. The factors contributing to an increase in operating income were cost reduction efforts of 120.0 billion yen, the effects of changes in exchange rates of 70.0 billion yen, and other factors of 56.4 billion yen. On the other hand, the factors contributing to a decrease in operating income were the increase in expenses and others of 130.0 billion yen and the effects of marketing activities of 20.0 billion yen. Income before income taxes and equity in earnings of affiliated companies increased by 165.6 billion yen, or 12.3%, to 1,509.1 billion yen in FY2015 first half compared with FY2014 first half. Net income attributable to Toyota Motor Corporation increased by 126.2 billion yen, or 12.6%, to 1,126.8 billion yen in FY2015 first half compared with FY2014 first half.

(2) Segment Operating Results

(i) Automotive:

Net revenues for the automotive operations increased by 313.9 billion yen, or 2.7%, to 11,947.2 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 32.2 billion yen, or 2.9%, to 1,140.2 billion yen in FY2015 first half compared with FY2014 first half. The increase in operating income was mainly due to cost reduction efforts and the effects of changes in exchange rates.

(ii) Financial services:

Net revenues for the financial services operations increased by 89.7 billion yen, or 13.0%, to 777.3 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 51.2 billion yen, or 38.4%, to 184.5 billion yen in FY2015 first half compared with FY2014 first half. The increase in operating income was mainly due to the recording of valuation gains on interest rate swaps stated at fair value in sales finance subsidiaries.

(iii) All other:

Net revenues for all other businesses increased by 47.1 billion yen, or 9.3%, to 555.2 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 8.0 billion yen, or 39.8%, to 28.4 billion yen in FY2015 first half compared with FY2014 first half.

2

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

(3) Geographic Information

(i) Japan:

Net revenues in Japan decreased by 92.9 billion yen, or 1.3%, to 6,850.8 billion yen in FY2015 first half compared with FY2014 first half, and operating income decreased by 111.2 billion yen, or 13.4%, to 718.7 billion yen in FY2015 first half compared with FY2014 first half. The decrease in operating income was mainly due to the increase in expenses and others, and decreases in both production volume and vehicle unit sales.

(ii) North America:

Net revenues in North America increased by 431.7 billion yen, or 10.6%, to 4,499.7 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 150.3 billion yen, or 92.6%, to 312.6 billion yen in FY2015 first half compared with FY2014 first half. The increase in operating income was mainly due to increases in both production volume and vehicle unit sales and the recording of valuation gains on interest rate swaps stated at fair value in sales finance subsidiaries.

(iii) Europe:

Net revenues in Europe increased by 62.8 billion yen, or 4.8%, to 1,365.8 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 7.7 billion yen, or 30.7%, to 33.2 billion yen in FY2015 first half compared with FY2014 first half.

(iv) Asia:

Net revenues in Asia decreased by 17.2 billion yen, or 0.7%, to 2,382.6 billion yen in FY2015 first half compared with FY2014 first half. However, operating income increased by 17.2 billion yen, or 8.8%, to 212.9 billion yen in FY2015 first half compared with FY2014 first half. The increase in operating income was mainly due to the effects of changes in exchange rates and cost reduction efforts.

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

Net revenues in other regions increased by 13.8 billion yen, or 1.2%, to 1,206.0 billion yen in FY2015 first half compared with FY2014 first half, and operating income increased by 1.8 billion yen, or 2.4%, to 77.9 billion yen in FY2015 first half compared with FY2014 first half.

3

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

2. Qualitative Information Concerning Forecast of Consolidated Financial Results for FY2015

Reflecting the current trend of foreign currency exchange rates and favorable results obtained from a variety of measures for profit improvement, the current forecast of consolidated financial results for FY2015 (April 1, 2014 through March 31, 2015) is set forth below. This forecast assumes average exchange rates through the fiscal year of 104 yen per US$1 and 137 yen per 1 euro.

Forecast of consolidated results for FY2015

Net revenues	26,500.0 billion yen	(an increase of 3.1% compared with FY2014)
Operating income	2,500.0 billion yen	(an increase of 9.1% compared with FY2014)
Income before income taxes and equity in earnings of affiliated companies	2,700.0 billion yen	(an increase of 10.6% compared with FY2014)
Net income attributable to Toyota Motor Corporation	2,000.0 billion yen	(an increase of 9.7% compared with FY2014)

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 Form 20-F, which is on file with the United States Securities and Exchange Commission.

4

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

3. Other Information

(1) Changes in significant subsidiaries during the current period

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

None

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

Provision for income taxes

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

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

In July 2013, the Financial Accounting Standards Board issued updated guidance on uncertain tax positions. This guidance requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward for tax purposes, a similar tax loss, or a tax credit carryforward. The parent company and its consolidated subsidiaries (“Toyota”) adopted this guidance on April 1, 2014. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

5

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

4. Consolidated Production and Sales

(1) Production

		(Units)
Business segment		FY2014 first half (April 1, 2013 through September 30, 2013)		FY2015 first half (April 1, 2014 through September 30, 2014)		Increase (Decrease)
Automotive	Japan		2,142,878		2,047,052		(95,826	)
	North America		890,130		970,668		80,538
	Europe		239,457		252,111		12,654
	Asia		935,673		928,834		(6,839	)
	Other		247,371		249,535		2,164
	Total		4,455,509		4,448,200		(7,309	)
Other	Housing		2,841		2,288		(553	)
Business segment		FY2014 second quarter (July 1, 2013 through September 30, 2013)		FY2015 second quarter (July 1, 2014 through September 30, 2014)		Increase (Decrease)
Automotive	Japan		1,083,451		1,031,055		(52,396	)
	North America		405,711		467,151		61,440
	Europe		131,061		125,024		(6,037	)
	Asia		462,254		454,968		(7,286	)
	Other		118,860		131,266		12,406
	Total		2,201,337		2,209,464		8,127
Other	Housing		1,652		1,248		(404	)

Note: 1 Production in “Automotive” indicates production units of new vehicles.

2 “Other” in “Automotive” consists of Central and South America, Oceania and Africa.

(2) Sales (by destination)

		(Units)
Business segment		FY2014 first half (April 1, 2013 through September 30, 2013)		FY2015 first half (April 1, 2014 through September 30, 2014)		Increase (Decrease)
Automotive	Japan		1,101,206		1,030,229		(70,977	)
	North America		1,298,044		1,395,105		97,061
	Europe		406,934		414,217		7,283
	Asia		779,586		754,818		(24,768	)
	Other		881,991		882,153		162
	Total		4,467,761		4,476,522		8,761
Other	Housing		2,665		2,183		(482	)
Business segment		FY2014 second quarter (July 1, 2013 through September 30, 2013)		FY2015 second quarter (July 1, 2014 through September 30, 2014)		Increase (Decrease)
Automotive	Japan		575,429		524,402		(51,027	)
	North America		609,388		684,696		75,308
	Europe		214,423		206,736		(7,687	)
	Asia		384,720		369,442		(15,278	)
	Other		451,942		449,961		(1,981	)
	Total		2,235,902		2,235,237		(665	)
Other	Housing		1,677		1,285		(392	)

Note: 1 Sales in “Automotive” indicates sales units of new vehicles.

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

6

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

5. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Yen in millions)
	FY2014 (March 31,  2014)			FY2015 second  quarter (September 30, 2014)			Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents		2,041,170			2,309,322			268,152
Time deposits		180,207			138,572			(41,635	)
Marketable securities		2,046,877			2,143,561			96,684
Trade accounts and notes receivable, less allowance for doubtful accounts		2,036,232			1,918,624			(117,608	)
Finance receivables, net		5,628,934			5,837,413			208,479
Other receivables		351,182			380,029			28,847
Inventories		1,894,704			2,062,906			168,202
Deferred income taxes		866,386			842,334			(24,052	)
Prepaid expenses and other current assets		672,014			625,475			(46,539	)
Total current assets		15,717,706			16,258,236			540,530
Noncurrent finance receivables, net		8,102,294			8,741,428			639,134
Investments and other assets:
Marketable securities and other securities investments		6,765,043			7,206,755			441,712
Affiliated companies		2,429,778			2,462,146			32,368
Employees receivables		44,966			44,600			(366	)
Other		736,388			759,921			23,533
Total investments and other assets		9,976,175			10,473,422			497,247
Property, plant and equipment:
Land		1,314,040			1,328,512			14,472
Buildings		4,073,335			4,170,463			97,128
Machinery and equipment		10,381,285			10,571,394			190,109
Vehicles and equipment on operating leases		3,709,560			4,400,150			690,590
Construction in progress		286,571			390,247			103,676
Total property, plant and equipment, at cost		19,764,791			20,860,766			1,095,975
Less – Accumulated depreciation		(12,123,493	)		(12,549,779	)		(426,286	)
Total property, plant and equipment, net		7,641,298			8,310,987			669,689
Total assets		41,437,473			43,784,073			2,346,600

7

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

	(Yen in millions)
	FY2014 (March 31,  2014)			FY2015 second  quarter (September 30, 2014)			Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings		4,830,820			4,964,254			133,434
Current portion of long-term debt		2,949,663			3,681,042			731,379
Accounts payable		2,213,218			2,233,578			20,360
Other payables		845,426			740,314			(105,112	)
Accrued expenses		2,313,160			2,322,003			8,843
Income taxes payable		594,829			334,413			(260,416	)
Other current liabilities		933,569			1,026,711			93,142
Total current liabilities		14,680,685			15,302,315			621,630
Long-term liabilities:
Long-term debt		8,546,910			8,998,871			451,961
Accrued pension and severance costs		767,618			804,846			37,228
Deferred income taxes		1,811,846			1,985,048			173,202
Other long-term liabilities		411,427			456,461			45,034
Total long-term liabilities		11,537,801			12,245,226			707,425
Total liabilities		26,218,486			27,547,541			1,329,055
Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2014 and September 30, 2014 issued: 3,447,997,492 shares at March 31, 2014 and 3,417,997,492 shares at September 30, 2014		397,050			397,050			—
Additional paid-in capital		551,308			548,154			(3,154	)
Retained earnings		14,116,295			14,681,771			565,476
Accumulated other comprehensive income (loss)		528,161			886,513			358,352
Treasury stock, at cost, 278,231,473 shares at March 31, 2014 and 245,245,745 shares at September 30, 2014		(1,123,666	)		(1,043,933	)		79,733
Total Toyota Motor Corporation shareholders’ equity		14,469,148			15,469,555			1,000,407
Noncontrolling interests		749,839			766,977			17,138
Total shareholders’ equity		15,218,987			16,236,532			1,017,545
Commitments and contingencies
Total liabilities and shareholders’ equity		41,437,473			43,784,073			2,346,600

8

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

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

First half for the six months ended September 30
Consolidated Statements of Income
	(Yen in millions)
	FY2014 first half (Six months ended September 30, 2013)			FY2015 first half (Six months ended September 30, 2014)			Increase (Decrease)
Net revenues:
Sales of products		11,872,003			12,187,394			315,391
Financing operations		665,482			758,203			92,721
Total net revenues		12,537,485			12,945,597			408,112
Costs and expenses:
Cost of products sold		9,706,426			9,925,576			219,150
Cost of financing operations		416,158			421,969			5,811
Selling, general and administrative		1,159,426			1,246,106			86,680
Total costs and expenses		11,282,010			11,593,651			311,641
Operating income		1,255,475			1,351,946			96,471
Other income (expense):
Interest and dividend income		58,130			73,043			14,913
Interest expense		(9,738	)		(9,469	)		269
Foreign exchange gain, net		16,724			64,161			47,437
Other income, net		22,934			29,493			6,559
Total other income (expense)		88,050			157,228			69,178
Income before income taxes and equity in earnings of affiliated companies		1,343,525			1,509,174			165,649
Provision for income taxes		437,180			493,591			56,411
Equity in earnings of affiliated companies		158,791			165,896			7,105
Net income		1,065,136			1,181,479			116,343
Less – Net income attributable to noncontrolling interests		(64,513	)		(54,643	)		9,870
Net income attributable to Toyota Motor Corporation		1,000,623			1,126,836			126,213
	(Yen)
Net income attributable to Toyota Motor Corporation per share
Basic		315.80			356.08			40.28
Diluted		315.58			355.91			40.33

9

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

Consolidated Statements of Comprehensive Income
	(Yen in millions)
	FY2014 first half (Six months ended September 30, 2013)			FY2015 first half (Six months ended September 30, 2014)			Increase (Decrease)
Net income		1,065,136			1,181,479			116,343
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		94,631			142,827			48,196
Unrealized gains (losses) on securities		305,566			223,968			(81,598	)
Pension liability adjustments		2,089			862			(1,227	)
Total other comprehensive income (loss)		402,286			367,657			(34,629	)
Comprehensive income		1,467,422			1,549,136			81,714
Less – Comprehensive income attributable to noncontrolling interests		(62,027	)		(63,948	)		(1,921	)
Comprehensive income attributable to Toyota Motor Corporation		1,405,395			1,485,188			79,793

10

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

Second quarter for the three months ended September 30
Consolidated Statements of Income
	(Yen in millions)
	FY2014 second quarter (Three months ended September 30, 2013)			FY2015 second quarter (Three months ended September 30, 2014)			Increase (Decrease)
Net revenues:
Sales of products		5,945,468			6,163,804			218,336
Financing operations		336,698			391,105			54,407
Total net revenues		6,282,166			6,554,909			272,743
Costs and expenses:
Cost of products sold		4,903,970			5,029,490			125,520
Cost of financing operations		196,361			222,880			26,519
Selling, general and administrative		589,743			643,321			53,578
Total costs and expenses		5,690,074			5,895,691			205,617
Operating income		592,092			659,218			67,126
Other income (expense):
Interest and dividend income		19,967			26,560			6,593
Interest expense		(5,154	)		(5,555	)		(401	)
Foreign exchange gain, net		7,247			51,176			43,929
Other income, net		5,210			5,949			739
Total other income (expense)		27,270			78,130			50,860
Income before income taxes and equity in earnings of affiliated companies		619,362			737,348			117,986
Provision for income taxes		227,050			233,618			6,568
Equity in earnings of affiliated companies		68,853			60,567			(8,286	)
Net income		461,165			564,297			103,132
Less – Net income attributable to noncontrolling interests		(22,736	)		(25,235	)		(2,499	)
Net income attributable to Toyota Motor Corporation		438,429			539,062			100,633
	(Yen)
Net income attributable to Toyota Motor Corporation per share
Basic		138.35			170.62			32.27
Diluted		138.26			170.54			32.28

11

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

Consolidated Statements of Comprehensive Income

	(Yen in millions)
	FY2014 second  quarter (Three months ended September 30, 2013)			FY2015 second  quarter (Three months ended September 30, 2014)			Increase (Decrease)
Net income		461,165			564,297			103,132
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		(23,230	)		228,337			251,567
Unrealized gains (losses) on securities		44,645			171,473			126,828
Pension liability adjustments		(690	)		411			1,101
Total other comprehensive income (loss)		20,725			400,221			379,496
Comprehensive income		481,890			964,518			482,628
Less – Comprehensive income attributable to noncontrolling interests		(11,354	)		(40,713	)		(29,359	)
Comprehensive income attributable to Toyota Motor Corporation		470,536			923,805			453,269

12

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

(3) Consolidated Statements of Cash Flows

	(Yen in millions)
	FY2014 first half (Six months ended September 30,  2013)			FY2015 first half (Six months ended September 30,  2014)
Cash flows from operating activities:
Net income		1,065,136			1,181,479
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		595,181			648,233
Provision for doubtful accounts and credit losses		17,106			30,169
Pension and severance costs, less payments		10,882			10,896
Losses on disposal of fixed assets		12,882			10,674
Unrealized losses on available-for-sale securities, net		3,948			2,479
Deferred income taxes		5,143			57,747
Equity in earnings of affiliated companies		(158,791	)		(165,896	)
Changes in operating assets and liabilities, and other		415,601			(124,475	)
Net cash provided by operating activities		1,967,088			1,651,306
Cash flows from investing activities:
Additions to finance receivables		(6,115,913	)		(6,457,063	)
Collection of and proceeds from sales of finance receivables		5,496,979			6,022,356
Additions to fixed assets excluding equipment leased to others		(454,550	)		(477,570	)
Additions to equipment leased to others		(852,371	)		(1,080,047	)
Proceeds from sales of fixed assets excluding equipment leased to others		16,054			22,121
Proceeds from sales of equipment leased to others		394,953			366,939
Purchases of marketable securities and security investments		(2,733,407	)		(1,343,269	)
Proceeds from sales of and maturity of marketable securities and security investments		1,727,726			1,262,020
Changes in investments and other assets, and other		(26,463	)		76,305
Net cash used in investing activities		(2,546,992	)		(1,608,208	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		1,993,201			2,080,226
Payments of long-term debt		(1,617,468	)		(1,283,305	)
Increase (decrease) in short-term borrowings		426,881			(82,249	)
Dividends paid to Toyota Motor Corporation shareholders		(190,046	)		(316,977	)
Dividends paid to noncontrolling interests		(44,379	)		(50,483	)
Reissuance (repurchase) of treasury stock		6,319			(167,955	)
Net cash provided by financing activities		574,508			179,257
Effect of exchange rate changes on cash and cash equivalents		30,402			45,797
Net increase in cash and cash equivalents		25,006			268,152
Cash and cash equivalents at beginning of period		1,718,297			2,041,170
Cash and cash equivalents at end of period		1,743,303			2,309,322

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.

(4) Going Concern Assumption

          None

13

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

(5) Segment Information

(i) Segment operating results

FY2014 first half (Six months ended September 30, 2013)

	(Yen in millions)
	Automotive		Financial Services		All Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		11,612,379		665,482		259,624		—			12,537,485
Inter-segment sales and transfers		20,890		22,161		248,439		(291,490	)		—
Total		11,633,269		687,643		508,063		(291,490	)		12,537,485
Operating expenses		10,525,221		554,345		487,749		(285,305	)		11,282,010
Operating income		1,108,048		133,298		20,314		(6,185	)		1,255,475
FY2015 first half (Six months ended September 30, 2014)
	(Yen in millions)
	Automotive		Financial Services		All Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		11,919,067		758,203		268,327		—			12,945,597
Inter-segment sales and transfers		28,199		19,171		286,904		(334,274	)		—
Total		11,947,266		777,374		555,231		(334,274	)		12,945,597
Operating expenses		10,806,994		592,859		526,823		(333,025	)		11,593,651
Operating income		1,140,272		184,515		28,408		(1,249	)		1,351,946
FY2014 second quarter (Three months ended September 30, 2013)
	(Yen in millions)
	Automotive		Financial Services		All Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		5,805,330		336,698		140,138		—			6,282,166
Inter-segment sales and transfers		9,934		11,069		133,454		(154,457	)		—
Total		5,815,264		347,767		273,592		(154,457	)		6,282,166
Operating expenses		5,315,712		265,738		260,412		(151,788	)		5,690,074
Operating income		499,552		82,029		13,180		(2,669	)		592,092
FY2015 second quarter (Three months ended September 30, 2014)
	(Yen in millions)
	Automotive		Financial Services		All Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		6,018,997		391,105		144,807		—			6,554,909
Inter-segment sales and transfers		13,602		8,841		152,108		(174,551	)		—
Total		6,032,599		399,946		296,915		(174,551	)		6,554,909
Operating expenses		5,479,079		313,644		279,306		(176,338	)		5,895,691
Operating income		553,520		86,302		17,609		1,787			659,218

14

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

(ii) Geographic Information

FY2014 first half (Six months ended September 30, 2013)

	(Yen in millions)
	Japan		North America		Europe		Asia		Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		4,005,694		3,986,493		1,249,724		2,199,653		1,095,921		—			12,537,485
Inter-segment sales and transfers		2,938,098		81,459		53,318		200,242		96,286		(3,369,403	)		—
Total		6,943,792		4,067,952		1,303,042		2,399,895		1,192,207		(3,369,403	)		12,537,485
Operating expenses		6,113,765		3,905,652		1,277,631		2,204,253		1,116,061		(3,335,352	)		11,282,010
Operating income		830,027		162,300		25,411		195,642		76,146		(34,051	)		1,255,475
FY2015 first half (Six months ended September 30, 2014)
	(Yen in millions)
	Japan		North America		Europe		Asia		Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		3,969,582		4,377,124		1,300,200		2,185,524		1,113,167		—			12,945,597
Inter-segment sales and transfers		2,881,231		122,627		65,674		197,093		92,863		(3,359,488	)		—
Total		6,850,813		4,499,751		1,365,874		2,382,617		1,206,030		(3,359,488	)		12,945,597
Operating expenses		6,132,046		4,187,084		1,332,670		2,169,697		1,128,074		(3,355,920	)		11,593,651
Operating income		718,767		312,667		33,204		212,920		77,956		(3,568	)		1,351,946
Note: “Other” consists of Central and South America, Oceania, Africa and the Middle East.
FY2014 second quarter (Three months ended September 30, 2013)
	(Yen in millions)
	Japan		North America		Europe		Asia		Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		2,066,627		1,924,217		681,446		1,076,636		533,240		—			6,282,166
Inter-segment sales and transfers		1,420,949		38,602		25,598		105,192		49,949		(1,640,290	)		—
Total		3,487,576		1,962,819		707,044		1,181,828		583,189		(1,640,290	)		6,282,166
Operating expenses		3,113,624		1,883,190		686,897		1,090,364		549,549		(1,633,550	)		5,690,074
Operating income		373,952		79,629		20,147		91,464		33,640		(6,740	)		592,092
FY2015 second quarter (Three months ended September 30, 2014)
	(Yen in millions)
	Japan		North America		Europe		Asia		Other		Inter-segment Elimination			Consolidated
Net revenues:
Sales to external customers		2,061,111		2,180,798		678,830		1,071,480		562,690		—			6,554,909
Inter-segment sales and transfers		1,493,171		59,830		36,386		113,709		51,382		(1,754,478	)		—
Total		3,554,282		2,240,628		715,216		1,185,189		614,072		(1,754,478	)		6,554,909
Operating expenses		3,201,478		2,093,497		692,880		1,082,655		570,167		(1,744,986	)		5,895,691
Operating income		352,804		147,131		22,336		102,534		43,905		(9,492	)		659,218
Note: “Other” consists of Central and South America, Oceania, Africa and the Middle East.

15

TOYOTA MOTOR CORPORATION    FY2015 Second Quarter Financial Summary

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

(6) Significant Changes in Shareholders’ Equity

          None

16