FINANCIAL SUMMARY

FY2017

(April 1, 2016 through March 31, 2017)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2017 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 10, 2017

Company name	:	Toyota Motor Corporation
Stock exchanges on which the shares are listed	:	Tokyo, Nagoya, Sapporo and Fukuoka Stock Exchanges in Japan
Code number	:	7203
URL	:	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, 2017
Payment date of cash dividends	:	May 25, 2017
Filing date of financial statements	:	June 23, 2017
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 FY2017 (April 1, 2016 through March 31, 2017)

(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		%
FY2017		27,597,193		-2.8		1,994,372		-30.1		2,193,825		-26.5		1,831,109		-20.8
FY2016		28,403,118		4.3		2,853,971		3.8		2,983,381		3.1		2,312,694		6.4

Note:  Comprehensive income    FY2017    1,966,650 million yen ( 29.6 %),    FY2016    1,517,486 million yen ( -53.9 %)

	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		%		%		%
FY2017		605.47		599.22		10.6		4.6		7.2
FY2016		741.36		735.36		13.8		6.3		10.0

Reference:  Equity in earnings of affiliated companies    FY2017    362,060 million yen,    FY2016    329,099 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
FY2017		48,750,186		18,668,953		17,514,812		35.9		5,887.88
FY2016		47,427,597		18,088,186		16,746,935		35.3		5,513.08

(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
FY2017		3,414,237		-2,969,939		-375,165		2,995,075
FY2016		4,460,857		-3,182,544		-423,571		2,939,428

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
	Yen		Yen		Yen		Yen		Yen		Million yen		%		%
FY2016		—		100.00		—		110.00		210.00		645,520		28.3		3.9
FY2017		—		100.00		—		110.00		210.00		627,551		34.6		3.7
FY2018 (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 FY2018 (April 1, 2017 through March 31, 2018)

	(% of change from FY2017)
	Net revenues				Operating income				Income before income taxes and equity in earnings  of affiliated companies				Net income attributable to Toyota Motor Corporation				Net income attributable to Toyota Motor Corporation per common share – Basic
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Yen
Full-year		27,500,000		-0.4		1,600,000		-19.8		1,800,000		-18.0		1,500,000		-18.1		500.05

Notes

(1) Changes in significant subsidiaries during FY2017

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

(2) Changes in accounting principles, procedures, and disclosures during FY2017

(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):

FY2017    3,262,997,492 shares, FY2016    3,337,997,492 shares

(ii) Number of treasury stock at the end of each fiscal year: FY2017    288,274,636 shares, FY2016    300,321,622 shares

(iii) Average number of shares issued and outstanding in each fiscal year: FY2017    3,008,088,275 shares, FY2016    3,111,306,060 shares

Reference: Overview of the Unconsolidated Financial Results

FY2017 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 FY2017 (April 1, 2016 through March 31, 2017)

(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	%
FY2017	11,476,343	-0.9	837,204	-40.3	1,801,736	-21.1	1,529,911	-15.5
FY2016	11,585,822	3.4	1,402,126	10.3	2,284,091	7.5	1,810,370	7.1
	Net income per common share – Basic		Net income per common share – Diluted
	Yen		Yen
FY2017	506.96		500.65
FY2016	581.08		575.64

(2) Unconsolidated financial position

	Total assets		Net assets		Equity ratio		Net assets per common share
		Million yen		Million yen		%		Yen
FY2017		16,592,167		11,365,784		68.5		3,659.40
FY2016		16,100,209		10,859,443		67.4		3,417.07

Reference: Equity at the end of FY2017: 11,364,877 million yen, Equity at the end of FY2016: 10,857,883 million yen

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

	(% of change from FY2017)
	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		11,300,000		-1.5		650,000		-22.4		1,570,000		-12.9		1,350,000		-11.8		451.32

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 Form 20-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
FY2016		—		26.00		—		26.00		52.00
FY2017		—		52.50		—		52.50		105.00
FY2018 (forecast)		—		—		—		—		—

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

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

TABLE OF CONTENTS

1.  Financial Results and Position	2
(1) Consolidated Financial Results for FY2017	2
(2) Consolidated Financial Position for FY2017	4
(3) Forecast of Consolidated Financial Results for FY2018	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

1

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

1. Financial Results and Position

(1) Consolidated Financial Results for FY2017

Financial Results

Reviewing the general economic environment for FY2017 (April 1, 2016 through March 31, 2017), with respect to the world economy, the U.S. economy has seen ongoing recovery due to increasing personal consumption owing to improvements in employment and income conditions, and the European economy has continued its moderate recovery. Meanwhile, weaknesses have been seen in some emerging countries. The Japanese economy has been on a moderate recovery due to improvements in employment and income conditions.

For the automobile industry, although markets have progressed in a steady manner in the developed countries and expanded in China due to effects of a sales tax cut on small cars, markets in resource-rich countries have slowed down. Meanwhile, efforts toward improvement across businesses in areas including automated driving technology, connected vehicles, environmental technologies used in fuel cell vehicles and electric vehicles, as well as car-sharing and ride-sharing have become active.

Under these conditions, consolidated vehicle unit sales in Japan and overseas increased by 290 thousand units, or 3.3%, to 8,971 thousand units in FY2017 compared with FY2016 (April 1, 2015 through March 31, 2016). Vehicle unit sales in Japan increased by 215 thousand units, or 10.4%, to 2,274 thousand units in FY2017 compared with FY2016, primarily as a result of the active introduction of new products and the efforts of dealers nationwide. Toyota and Lexus brands’ market share excluding mini-vehicles was 47.8%, while market share (including Daihatsu and Hino brands) including mini-vehicles was 45.0%, representing a record high. Each remained at as high a level as in FY2016. Meanwhile, overseas vehicle unit sales increased by 75 thousand units, or 1.1%, to 6,697 thousand units in FY2017 compared with FY2016, because of sales expansion in Asia and Europe despite decline in sales in the Middle East.

Result of Operation for FY2017

Net revenues	27,597.1 billion yen	(a decrease of 805.9 billion yen or 2.8% compared with FY2016)
Operating income	1,994.3 billion yen	(a decrease of 859.5 billion yen or 30.1% compared with FY2016)
Income before income taxes and equity in earnings of affiliated companies	2,193.8 billion yen	(a decrease of 789.5 billion yen or 26.5% compared with FY2016)
Net income attributable to Toyota Motor Corporation	1,831.1 billion yen	(a decrease of 481.5 billion yen or 20.8% compared with FY2016)

Changes in operating income and loss for FY2017

Marketing efforts	an increase of 210.0 billion yen compared with FY2016
Effects of changes in exchange rates	a decrease of 940.0 billion yen compared with FY2016
Cost reduction efforts	an increase of 440.0 billion yen compared with FY2016
Increase in expenses and others	a decrease of 530.0 billion yen compared with FY2016
Other	a decrease of 39.5 billion yen compared with FY2016

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” from the consolidated fiscal year ended March 31, 2017.

2

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

Segment Operating Results

(i) Automotive:

Net revenues for the automotive operations decreased by 895.5 billion yen, or 3.4%, to 25,081.8 billion yen in FY2017 compared with FY2016, and operating income decreased by 756.0 billion yen, or 30.9%, to 1,692.9 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the effects of changes in exchange rates and the increase in expenses and others.

(ii) Financial services:

Net revenues for the financial services operations decreased by 72.6 billion yen, or 3.8%, to 1,823.6 billion yen in FY2017 compared with FY2016, and operating income decreased by 116.7 billion yen, or 34.4%, to 222.4 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the increase 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 143.6 billion yen, or 12.2%, to 1,321.0 billion yen in FY2017 compared with FY2016, and operating income increased by 14.8 billion yen, or 22.3%, to 81.3 billion yen in FY2017 compared with FY2016.

Geographic Information

(i) Japan:

Net revenues in Japan increased by 71.3 billion yen, or 0.5%, to 14,830.8 billion yen in FY2017 compared with FY2016. However, operating income decreased by 475.2 billion yen, or 28.3%, to 1,202.2 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the effects of changes in exchange rates and the increase in expenses and others.

(ii) North America:

Net revenues in North America decreased by 812.8 billion yen, or 7.4%, to 10,239.0 billion yen in FY2017 compared with FY2016, and operating income decreased by 217.6 billion yen, or 41.2%, to 311.1 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the increase in expenses and others as well as the increase in expenses related to credit losses and residual value losses, and the recording of valuation losses on interest rate swaps stated at fair value, both in sales finance subsidiaries.

(iii) Europe:

Net revenues in Europe increased by 19.7 billion yen, or 0.7%, to 2,681.0 billion yen in FY2017 compared with FY2016. However, operating income decreased by 84.6 billion yen to an operating loss of 12.2 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the increase in expenses and others.

(iv) Asia:

Net revenues in Asia decreased by 184.0 billion yen, or 3.7%, to 4,819.8 billion yen in FY2017 compared with FY2016, and operating income decreased by 14.0 billion yen, or 3.1%, to 435.1 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the effects of changes in exchange rates.

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

Net revenues in other regions decreased by 49.1 billion yen, or 2.2%, to 2,161.0 billion yen in FY2017 compared with FY2016, and operating income decreased by 50.2 billion yen, or 46.1%, to 58.6 billion yen in FY2017 compared with FY2016. The decrease in operating income was mainly due to the increase in expenses and others.

3

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(2) Consolidated Financial Position for FY2017

Cash and cash equivalents increased by 55.6 billion yen, or 1.9%, to 2,995.0 billion yen at the end of FY2017 compared with the end of FY2016.

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 3,414.2 billion yen in FY2017. Net cash provided by operating activities decreased by 1,046.6 billion yen from 4,460.8 billion yen in FY2016.

Cash flows from investing activities

Net cash flows from investing activities resulted in a decrease in cash by 2,969.9 billion yen in FY2017. Net cash used in investing activities decreased by 212.6 billion yen from 3,182.5 billion yen in FY2016.

Cash flows from financing activities

Net cash flows from financing activities resulted in a decrease in cash by 375.1 billion yen in FY2017. Net cash used in financing activities decreased by 48.4 billion yen from 423.5 billion yen in FY2016.

The consolidated cash flows by segment for FY2017 are as follows:

Non-financial services

Net cash provided by operating activities was 2,564.3 billion yen, net cash used in investing activities was 1,288.4 billion yen and net cash used in financing activities was 1,325.6 billion yen.

Financial services

Net cash provided by operating activities was 1,028.1 billion yen, net cash used in investing activities was 1,910.4 billion yen and net cash provided by financing activities was 1,001.2 billion yen.

4

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(3) Forecast of Consolidated Financial Results for FY2018

As for our future business environment, developed countries are expected to continue growing steadily, while the growth rate of emerging countries are expected to increase gradually on the back of the steady growth in developed countries and the effects of policy measures taken by emerging countries. The Japanese economy is expected to improve mainly in the area of private demand supported by continuing extension of the positive cycle of the economy with improvements in employment and income conditions, although attention needs to be paid to uncertainty related to policy trends mainly in the U.S. and U.K. The automotive market is expected to progress steadily in developed countries and to pick up gradually in emerging countries. Meanwhile, complicated interactions and changes such as changing market and regulations, developments in technology, and entry from other businesses are changing the automotive business itself.

Under these circumstances, the current forecast of consolidated financial results for the next fiscal year ending March 31, 2018 is set forth below. This forecast assumes average exchange rates through the fiscal year of 105 yen per US$1 and 115 yen per 1 euro.

Forecast of consolidated results for FY2018

Net revenues	27,500.0 billion yen	(a decrease of 0.4% compared with FY2017)
Operating income	1,600.0 billion yen	(a decrease of 19.8% compared with FY2017)
Income before income taxes and equity in earnings of affiliated companies	1,800.0 billion yen	(a decrease of 18.0% compared with FY2017)
Net income attributable to Toyota Motor Corporation	1,500.0 billion yen	(a decrease of 18.1% compared with FY2017)

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.

5

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

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.

6

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

3. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Yen in millions)
	FY2016 (March 31, 2016)			FY2017 (March 31, 2017)			Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents		2,939,428			2,995,075			55,647
Time deposits		1,032,034			1,082,654			50,620
Marketable securities		1,511,389			1,821,598			310,209
Trade accounts and notes receivable, less allowance for doubtful accounts of ¥83,969 million at March 31, 2016 and ¥50,110 million at March 31, 2017		2,000,149			2,115,938			115,789
Finance receivables, net		5,912,684			6,196,649			283,965
Other receivables		451,406			436,867			(14,539	)
Inventories		2,061,511			2,388,617			327,106
Deferred income taxes		967,607			—			(967,607	)
Prepaid expenses and other current assets		1,333,345			796,297			(537,048	)
Total current assets		18,209,553			17,833,695			(375,858	)
Noncurrent finance receivables, net		8,642,947			9,012,222			369,275
Investments and other assets:
Marketable securities and other securities investments		7,439,799			7,679,928			240,129
Affiliated companies		2,631,612			2,845,639			214,027
Employees receivables		32,998			25,187			(7,811	)
Other		730,271			1,156,406			426,135
Total investments and other assets		10,834,680			11,707,160			872,480
Property, plant and equipment:
Land		1,352,904			1,379,991			27,087
Buildings		4,311,895			4,470,996			159,101
Machinery and equipment		10,945,267			11,357,340			412,073
Vehicles and equipment on operating leases		5,652,622			5,966,579			313,957
Construction in progress		513,953			474,188			(39,765	)
Total property, plant and equipment, at cost		22,776,641			23,649,094			872,453
Less – Accumulated depreciation		(13,036,224	)		(13,451,985	)		(415,761	)
Total property, plant and equipment, net		9,740,417			10,197,109			456,692
Total assets		47,427,597			48,750,186			1,322,589

7

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

	(Yen in millions)
	FY2016 (March 31, 2016)			FY2017 (March 31, 2017)			Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings		4,698,134			4,953,682			255,548
Current portion of long-term debt		3,822,954			4,290,449			467,495
Accounts payable		2,389,515			2,566,382			176,867
Other payables		1,040,277			936,938			(103,339	)
Accrued expenses		2,726,120			3,137,827			411,707
Income taxes payable		343,325			223,574			(119,751	)
Other current liabilities		1,104,131			1,210,113			105,982
Total current liabilities		16,124,456			17,318,965			1,194,509
Long-term liabilities:
Long-term debt		9,772,065			9,911,596			139,531
Accrued pension and severance costs		904,911			905,070			159
Deferred income taxes		2,046,089			1,423,726			(622,363	)
Other long-term liabilities		491,890			521,876			29,986
Total long-term liabilities		13,214,955			12,762,268			(452,687	)
Total liabilities		29,339,411			30,081,233			741,822
Mezzanine equity
Model AA Class Shares, no par value, authorized: 150,000,000 shares at March 31, 2016 and March 31, 2017 issued: 47,100,000 shares at March 31, 2016 and March 31, 2017		479,779			485,877			6,098
Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2016 and March 31, 2017 issued: 3,337,997,492 shares at March 31, 2016 and 3,262,997,492 shares at March 31, 2017		397,050			397,050			—
Additional paid-in capital		548,161			484,013			(64,148	)
Retained earnings		16,794,240			17,601,070			806,830
Accumulated other comprehensive income (loss)		610,768			640,922			30,154
Treasury stock, at cost, 300,321,622 shares at March 31, 2016 and 288,274,636 shares at March 31, 2017		(1,603,284	)		(1,608,243	)		(4,959	)
Total Toyota Motor Corporation shareholders’ equity		16,746,935			17,514,812			767,877
Noncontrolling interests		861,472			668,264			(193,208	)
Total shareholders’ equity		17,608,407			18,183,076			574,669
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders’ equity		47,427,597			48,750,186			1,322,589

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

8

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

(Consolidated 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

Consolidated Statements of Income

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)			FY2017 (For the year ended March 31, 2017)			Increase (Decrease)
Net revenues:
Sales of products		26,549,111			25,813,496			(735,615	)
Financing operations		1,854,007			1,783,697			(70,310	)
Total net revenues		28,403,118			27,597,193			(805,925	)
Costs and expenses:
Cost of products sold		21,456,086			21,543,035			86,949
Cost of financing operations		1,149,379			1,191,301			41,922
Selling, general and administrative		2,943,682			2,868,485			(75,197	)
Total costs and expenses		25,549,147			25,602,821			53,674
Operating income		2,853,971			1,994,372			(859,599	)
Other income (expense):
Interest and dividend income		157,862			158,983			1,121
Interest expense		(35,403	)		(29,353	)		6,050
Foreign exchange gain (loss), net		(5,573	)		33,601			39,174
Other income (loss), net		12,524			36,222			23,698
Total other income (expense)		129,410			199,453			70,043
Income before income taxes and equity in earnings of affiliated companies		2,983,381			2,193,825			(789,556	)
Provision for income taxes		878,269			628,900			(249,369	)
Equity in earnings of affiliated companies		329,099			362,060			32,961
Net income		2,434,211			1,926,985			(507,226	)
Less – Net income attributable to noncontrolling interests		(121,517	)		(95,876	)		25,641
Net income attributable to Toyota Motor Corporation		2,312,694			1,831,109			(481,585	)

Note: Net income attributable to common shareholders for the fiscal year ended March 31, 2017 and 2016 is 1,821,314 million yen and 2,306,607 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 9,795 million yen and 6,087 million yen, respectively, from Net income attributable to Toyota Motor Corporation.

	(Yen)
Net income attributable to Toyota Motor Corporation per common share
Basic		741.36	605.47	(135.89	)
Diluted		735.36	599.22	(136.14	)

9

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

Consolidated Statements of Comprehensive Income

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)			FY2017 (For the year ended March 31, 2017)			Increase (Decrease)
Net income		2,434,211			1,926,985			(507,226	)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		(395,352	)		(57,926	)		337,426
Unrealized gains (losses) on securities		(312,192	)		4,279			316,471
Pension liability adjustments		(209,181	)		93,312			302,493
Total other comprehensive income (loss)		(916,725	)		39,665			956,390
Comprehensive income		1,517,486			1,966,650			449,164
Less – Comprehensive income attributable to noncontrolling interests		(71,569	)		(103,161	)		(31,592	)
Comprehensive income attributable to Toyota Motor Corporation		1,445,917			1,863,489			417,572

10

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(3) Consolidated Statements of Shareholders’ Equity

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)
	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, 2015		397,050		547,054			15,591,947			1,477,545			(1,225,465	)		16,788,131			859,198			17,647,329
Equity transaction with noncontrolling interests and other				1,972			(97	)								1,875			3,834			5,709
Comprehensive income:
Net income							2,312,694									2,312,694			121,517			2,434,211
Other comprehensive income (loss)
Foreign currency translation adjustments										(362,965	)					(362,965	)		(32,387	)		(395,352	)
Unrealized gains (losses) on securities										(302,620	)					(302,620	)		(9,572	)		(312,192	)
Pension liability adjustments										(201,192	)					(201,192	)		(7,989	)		(209,181	)
Total comprehensive income																1,445,917			71,569			1,517,486
Accretion to Mezzanine equity							(3,638	)								(3,638	)					(3,638	)
Dividends to Toyota Motor Corporation class shareholders							(2,449	)								(2,449	)					(2,449	)
Dividends paid to Toyota Motor Corporation common shareholders							(704,728	)								(704,728	)					(704,728	)
Dividends paid to noncontrolling interests																			(73,129	)		(73,129	)
Repurchase of treasury stock													(782,871	)		(782,871	)					(782,871	)
Reissuance of treasury stock				183									4,515			4,698						4,698
Retirement of treasury stock				(1,048	)		(399,489	)					400,537			—						—
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
	(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

11

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(4) Consolidated Statements of Cash Flows

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)			FY2017 (For the year ended March 31, 2017)
Cash flows from operating activities:
Net income		2,434,211			1,926,985
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		1,625,837			1,610,950
Provision for doubtful accounts and credit losses		159,265			98,666
Pension and severance costs, less payments		8,833			23,253
Losses on disposal of fixed assets		33,329			30,673
Unrealized losses on available-for-sale securities, net		9,272			7,073
Deferred income taxes		32,889			(53,299	)
Equity in earnings of affiliated companies		(329,099	)		(362,060	)
Changes in operating assets and liabilities, and other		486,320			131,996
Net cash provided by operating activities		4,460,857			3,414,237
Cash flows from investing activities:
Additions to finance receivables		(13,549,278	)		(13,636,694	)
Collection of and proceeds from sales of finance receivables		13,115,854			12,927,981
Additions to fixed assets excluding equipment leased to others		(1,282,545	)		(1,223,878	)
Additions to equipment leased to others		(2,776,671	)		(2,317,559	)
Proceeds from sales of fixed assets excluding equipment leased to others		42,147			41,238
Proceeds from sales of equipment leased to others		1,111,727			1,238,278
Purchases of marketable securities and security investments		(2,197,477	)		(2,517,008	)
Proceeds from sales of and maturity of marketable securities and security investments		3,415,815			1,901,541
Payment for additional investments in affiliated companies, net of cash acquired		628			44,274
Changes in investments and other assets, and other		(1,062,744	)		571,888
Net cash used in investing activities		(3,182,544	)		(2,969,939	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		4,845,872			4,603,446
Payments of long-term debt		(4,176,202	)		(3,845,554	)
Increase (decrease) in short-term borrowings		(10,903	)		273,037
Proceeds from issuance of class shares		474,917			—
Dividends paid to Toyota Motor Corporation class shareholders		(1,225	)		(3,697	)
Dividends paid to Toyota Motor Corporation common shareholders		(704,728	)		(634,475	)
Dividends paid to noncontrolling interests		(73,129	)		(63,936	)
Reissuance (repurchase) of treasury stock, and other		(778,173	)		(703,986	)
Net cash used in financing activities		(423,571	)		(375,165	)
Effect of exchange rate changes on cash and cash equivalents		(199,871	)		(13,486	)
Net increase in cash and cash equivalents		654,871			55,647
Cash and cash equivalents at beginning of year		2,284,557			2,939,428
Cash and cash equivalents at end of year		2,939,428			2,995,075

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.

12

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(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 24, 2016). Changes in accounting principles, procedures, and disclosures for consolidated financial statements by newly issued accounting pronouncements are set forth below.

In February 2015, the Financial Accounting Standards Board (“FASB”) issued updated guidance that amends the analysis a reporting entity must perform to determine whether it should consolidate certain legal entities. The parent company and its consolidated subsidiaries (“Toyota”) adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In April 2015, the FASB issued updated guidance that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. In August 2015, the FASB issued an additional update which clarifies that debt issuance costs for line of credit agreements may continue to be deferred and amortized. Toyota adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. For the previous consolidated fiscal year, debt issuance costs are recorded at “Other” in “Investments and other assets” on the consolidated balance sheet in the amount of 23,695 million yen.

In April 2015, the FASB issued updated guidance to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. Toyota adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In November 2015, the FASB issued updated guidance to simplify the balance sheet classification of deferred taxes. This guidance will require that deferred tax assets and liabilities be classified as noncurrent on the balance sheet. Toyota early adopted this guidance on April 1, 2016. Toyota adopted this guidance on a prospective basis from April 1, 2016 and prior periods were not retrospectively adjusted.

In March 2016, the FASB issued updated guidance to simplify the requirement in applying the equity method of accounting. This update eliminates the requirement that when an investment qualifies for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investment, results of operations, and retained earnings retroactively as if the equity method had been in effect during all previous periods that the investment had been held. Toyota early adopted this guidance on April 1, 2016. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

13

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(7) Segment Information

(i) Segment Operating Results and Assets

FY2016 (As of and for the year ended March 31, 2016)

	(Yen in millions)
	Automotive		Financial Services		All Other		Inter-segment Elimination  and/or Unallocated Amount			Consolidated
Net revenues:
Sales to external customers		25,923,813		1,854,007		625,298		—			28,403,118
Inter-segment sales and transfers		53,603		42,217		552,089		(647,909	)		—
Total		25,977,416		1,896,224		1,177,387		(647,909	)		28,403,118
Operating expenses		23,528,418		1,556,998		1,110,880		(647,149	)		25,549,147
Operating income		2,448,998		339,226		66,507		(760	)		2,853,971
Assets		15,621,757		21,709,010		1,917,148		8,179,682			47,427,597
Investment in equity method investees		2,532,644		9,168		10,801		78,776			2,631,389
Depreciation expenses		900,434		697,991		27,412		—			1,625,837
Capital expenditure		1,389,289		2,638,111		41,826		(10,010	)		4,059,216

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

Note: Unallocated corporate assets included under “Inter-segment Elimination and/or Unallocated Amount” for FY2016 and FY2017 are 9,369,868 million yen and 9,177,953 million yen, respectively, and consist primarily of funds such as cash and cash equivalents, marketable securities and portion of security investments held by TMC.

14

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

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

Consolidated Balance Sheets as Classified into Non-Financial Services Business and Financial Services Business

	(Yen in millions)
	FY2016 (March 31, 2016)			FY2017 (March 31, 2017)			Increase (Decrease)
Assets
(Non-financial services)
Current assets:
Cash and cash equivalents		2,318,152			2,257,064			(61,088	)
Marketable securities		1,210,427			1,439,944			229,517
Trade accounts and notes receivable, less allowance for doubtful accounts		2,089,216			2,191,594			102,378
Inventories		2,061,113			2,388,394			327,281
Prepaid expenses and other current assets		3,341,150			1,988,016			(1,353,134	)
Total current assets		11,020,058			10,265,012			(755,046	)
Investments and other assets		10,204,760			11,276,128			1,071,368
Property, plant and equipment		5,426,247			5,700,818			274,571
Total assets		26,651,065			27,241,958			590,893
(Financial services)
Current assets:
Cash and cash equivalents		621,276			738,011			116,735
Marketable securities		300,962			381,654			80,692
Finance receivables, net		5,912,684			6,196,649			283,965
Prepaid expenses and other current assets		895,257			831,924			(63,333	)
Total current assets		7,730,179			8,148,238			418,059
Noncurrent finance receivables, net		8,642,947			9,012,222			369,275
Investments and other assets		1,021,714			850,862			(170,852	)
Property, plant and equipment		4,314,170			4,496,291			182,121
Total assets		21,709,010			22,507,613			798,603
(Elimination)
Elimination of assets		(932,478	)		(999,385	)		(66,907	)
(Consolidated)
Total assets		47,427,597			48,750,186			1,322,589

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

15

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

	(Yen in millions)
	FY2016 (March 31, 2016)			FY2017 (March 31, 2017)			Increase (Decrease)
Liabilities
(Non-financial services)
Current liabilities:
Short-term borrowings		586,685			669,947			83,262
Current portion of long-term debt		117,484			196,227			78,743
Accounts payable		2,356,355			2,540,078			183,723
Accrued expenses		2,640,128			3,038,218			398,090
Income taxes payable		334,490			203,101			(131,389	)
Other current liabilities		1,527,024			1,512,662			(14,362	)
Total current liabilities		7,562,166			8,160,233			598,067
Long-term liabilities:
Long-term debt		584,793			590,366			5,573
Accrued pension and severance costs		891,405			890,684			(721	)
Other long-term liabilities		1,690,460			1,206,427			(484,033	)
Total long-term liabilities		3,166,658			2,687,477			(479,181	)
Total liabilities		10,728,824			10,847,710			118,886
(Financial services)
Current liabilities:
Short-term borrowings		4,418,483			4,605,389			186,906
Current portion of long-term debt		3,715,195			4,129,005			413,810
Accounts payable		40,094			33,283			(6,811	)
Accrued expenses		109,246			117,773			8,527
Income taxes payable		8,835			20,473			11,638
Other current liabilities		814,298			833,813			19,515
Total current liabilities		9,106,151			9,739,736			633,585
Long-term liabilities:
Long-term debt		9,343,632			9,491,504			147,872
Accrued pension and severance costs		13,506			14,386			880
Other long-term liabilities		1,081,789			987,289			(94,500	)
Total long-term liabilities		10,438,927			10,493,179			54,252
Total liabilities		19,545,078			20,232,915			687,837
(Elimination) Elimination of liabilities		(934,491	)		(999,392	)		(64,901	)
(Consolidated) Total liabilities		29,339,411			30,081,233			741,822
(Consolidated) Mezzanine equity		479,779			485,877			6,098
Shareholders’ equity
(Consolidated) Total Toyota Motor Corporation shareholders’ equity		16,746,935			17,514,812			767,877
(Consolidated) Noncontrolling interests		861,472			668,264			(193,208	)
(Consolidated) Total shareholders’ equity		17,608,407			18,183,076			574,669
(Consolidated) Total liabilities, mezzanine equity and shareholders’ equity		47,427,597			48,750,186			1,322,589

16

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

Consolidated Statements of Income as Classified into Non-Financial Services Business and Financial Services Business

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)			FY2017 (For the year ended March 31, 2017)			Increase (Decrease)
(Non-financial services)
Net revenues		26,581,102			25,845,453			(735,649	)
Costs and expenses:		24,063,468			24,068,841			5,373
Cost of revenues		21,474,386			21,557,194			82,808
Selling, general and administrative		2,589,082			2,511,647			(77,435	)
Operating income		2,517,634			1,776,612			(741,022	)
Other income (expense), net		117,930			200,370			82,440
Income before income taxes and equity in earnings of affiliated companies		2,635,564			1,976,982			(658,582	)
Provision for income taxes		752,248			562,452			(189,796	)
Equity in earnings of affiliated companies		327,167			360,130			32,963
Net income		2,210,483			1,774,660			(435,823	)
Less – Net income attributable to noncontrolling interests		(117,544	)		(89,337	)		28,207
Net income attributable to Toyota Motor Corporation		2,092,939			1,685,323			(407,616	)
(Financial services)
Net revenues		1,896,224			1,823,600			(72,624	)
Costs and expenses:		1,556,998			1,601,172			44,174
Cost of revenues		1,181,437			1,221,268			39,831
Selling, general and administrative		375,561			379,904			4,343
Operating income		339,226			222,428			(116,798	)
Other income (expense), net		8,579			(5,618	)		(14,197	)
Income before income taxes and equity in earnings of affiliated companies		347,805			216,810			(130,995	)
Provision for income taxes		126,319			66,583			(59,736	)
Equity in earnings of affiliated companies		1,932			1,930			(2	)
Net income		223,418			152,157			(71,261	)
Less – Net income attributable to noncontrolling interests		(3,963	)		(6,518	)		(2,555	)
Net income attributable to Toyota Motor Corporation		219,455			145,639			(73,816	)
(Elimination)
Elimination of net income attributable to Toyota Motor Corporation		300			147			(153	)
(Consolidated)
Net income attributable to Toyota Motor Corporation		2,312,694			1,831,109			(481,585	)

17

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

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

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)			FY2017 (For the year ended March 31, 2017)
(Non-financial services)
Cash flows from operating activities:
Net income		2,210,483			1,774,660
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		927,846			939,795
Provision for doubtful accounts		69,029			6,519
Pension and severance costs, less payments		8,300			21,796
Losses on disposal of fixed assets		33,293			30,461
Unrealized losses on available-for-sale securities, net		3,217			4,422
Deferred income taxes		(43,237	)		(59,668	)
Equity in earnings of affiliated companies		(327,167	)		(360,130	)
Changes in operating assets and liabilities, and other		386,529			206,455
Net cash provided by operating activities		3,268,293			2,564,310
Cash flows from investing activities:
Additions to fixed assets excluding equipment leased to others		(1,265,174	)		(1,206,738	)
Additions to equipment leased to others		(155,931	)		(152,550	)
Proceeds from sales of fixed assets excluding equipment leased to others		41,154			40,189
Proceeds from sales of equipment leased to others		60,989			72,659
Purchases of marketable securities and security investments		(1,302,965	)		(2,104,202	)
Proceeds from sales of and maturity of marketable securities and security investments		2,471,876			1,435,267
Payment for additional investments in affiliated companies, net of cash acquired		628			44,274
Changes in investments and other assets, and other		(1,371,996	)		582,649
Net cash used in investing activities		(1,521,419	)		(1,288,452	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		110,691			111,727
Payments of long-term debt		(71,758	)		(82,840	)
Increase in short-term borrowings		75,990			51,523
Proceeds from issuance of class shares		474,917			—
Dividends paid to Toyota Motor Corporation class shareholders		(1,225	)		(3,697	)
Dividends paid to Toyota Motor Corporation common shareholders		(704,728	)		(634,475	)
Dividends paid to noncontrolling interests		(73,129	)		(63,936	)
Reissuance (repurchase) of treasury stock, and other		(778,173	)		(703,986	)
Net cash used in financing activities		(967,415	)		(1,325,684	)
Effect of exchange rate changes on cash and cash equivalents		(142,301	)		(11,262	)
Net increase (decrease) in cash and cash equivalents		637,158			(61,088	)
Cash and cash equivalents at beginning of year		1,680,994			2,318,152
Cash and cash equivalents at end of year		2,318,152			2,257,064

18

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

	(Yen in millions)
	FY2016 (For the year ended March 31, 2016)			FY2017 (For the year ended March 31, 2017)
(Financial services)
Cash flows from operating activities:
Net income		223,418			152,157
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		697,991			671,155
Provision for doubtful accounts and credit losses		90,236			92,147
Pension and severance costs, less payments		533			1,457
Losses on disposal of fixed assets		36			212
Unrealized losses on available-for-sale securities, net		6,055			2,651
Deferred income taxes		76,423			6,504
Equity in earnings of affiliated companies		(1,932	)		(1,930	)
Changes in operating assets and liabilities, and other		148,376			103,840
Net cash provided by operating activities		1,241,136			1,028,193
Cash flows from investing activities:
Additions to finance receivables		(23,399,113	)		(22,894,114	)
Collection of and proceeds from sales of finance receivables		22,918,132			22,006,010
Additions to fixed assets excluding equipment leased to others		(17,371	)		(17,140	)
Additions to equipment leased to others		(2,620,740	)		(2,165,009	)
Proceeds from sales of fixed assets excluding equipment leased to others		993			1,049
Proceeds from sales of equipment leased to others		1,050,738			1,165,619
Purchases of marketable securities and security investments		(894,512	)		(412,806	)
Proceeds from sales of and maturity of marketable securities and security investments		943,939			466,274
Changes in investments and other assets, and other		296,788			(60,345	)
Net cash used in investing activities		(1,721,146	)		(1,910,462	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		4,815,323			4,541,541
Payments of long-term debt		(4,127,178	)		(3,773,644	)
Increase (decrease) in short-term borrowings		(132,852	)		233,331
Net cash provided by financing activities		555,293			1,001,228
Effect of exchange rate changes on cash and cash equivalents		(57,570	)		(2,224	)
Net increase in cash and cash equivalents		17,713			116,735
Cash and cash equivalents at beginning of year		603,563			621,276
Cash and cash equivalents at end of year		621,276			738,011
(Consolidated)
Effect of exchange rate changes on cash and cash equivalents		(199,871	)		(13,486	)
Net increase in cash and cash equivalents		654,871			55,647
Cash and cash equivalents at beginning of year		2,284,557			2,939,428
Cash and cash equivalents at end of year		2,939,428			2,995,075

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.

19

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(iii) Geographic Information

FY2016 (As of and for the year ended March 31, 2016)

	(Yen in millions)
	Japan		North America		Europe			Asia		Other		Inter-segment Elimination and/or Unallocated Amount			Consolidated
Net revenues:
Sales to external customers		8,588,437		10,822,772		2,507,292			4,475,623		2,008,994		—			28,403,118
Inter-segment sales and transfers		6,171,051		229,198		154,039			528,236		201,220		(7,283,744	)		—
Total		14,759,488		11,051,970		2,661,331			5,003,859		2,210,214		(7,283,744	)		28,403,118
Operating expenses		13,081,966		10,523,151		2,588,915			4,554,670		2,101,305		(7,300,860	)		25,549,147
Operating income		1,677,522		528,819		72,416			449,189		108,909		17,116			2,853,971
Assets		14,291,434		16,622,979		2,612,210			4,415,700		2,579,113		6,906,161			47,427,597
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

Note:	1.	Unallocated corporate assets included under “Inter-segment Elimination and/or Unallocated Amount” for FY2016 and FY2017 are 9,369,868 million yen and 9,177,953 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.

20

TOYOTA MOTOR CORPORATION    FY2017 Financial Summary

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

(8) Per Share Amounts

Basic and diluted net income attributable to Toyota Motor Corporation per common share for the years ended March 31, 2016 and 2017 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, 2016
Net income attributable to Toyota Motor Corporation		2,312,694
Accretion to Mezzanine equity		(3,638	)
Dividends to Toyota Motor Corporation Model AA Class Shareholders		(2,449	)
Basic net income attributable to Toyota Motor Corporation per common share		2,306,607			3,111,306		741.36
Effect of dilutive securities
Model AA Class Shares		6,087			32,429
Assumed exercise of dilutive stock options		(21	)		1,212
Diluted net income attributable to Toyota Motor Corporation per common share		2,312,673			3,144,947		735.36
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

The following table shows Toyota Motor Corporation shareholders’ equity per share as of March 31, 2016 and 2017.

	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, 2016		16,746,935		3,037,676		5,513.08
As of March 31, 2017		17,514,812		2,974,723		5,887.88

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