FINANCIAL SUMMARY

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

FY2019 First Quarter

(April 1, 2018 through June 30, 2018)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2019 First 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

August 3, 2018

Company name	:	Toyota Motor Corporation
Stock exchanges on which the shares are listed	:	Tokyo and Nagoya Stock Exchanges in Japan
Code number	:	7203
URL	:	http://www.toyota.co.jp
Representative	:	Akio Toyoda, President
Contact person	:	Kenta Kon, Managing Officer, General Manager of Accounting Division Tel. (0565)28-2121
Filing date of quarterly securities report	:	August 10, 2018
Payment date of cash dividends	:	—
Supplemental materials prepared for quarterly financial results	:	yes
Earnings announcement for quarterly financial results	:	yes

(Amounts are rounded to the nearest million yen)

1. Consolidated Results for FY2019 First Quarter (April 1, 2018 through June 30, 2018)

(1) Consolidated financial results (For the three months ended June 30)

	(% of change from previous first quarter)
	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		%
FY2019 first quarter		7,362,733		4.5		682,687		18.9		813,864		19.8		657,306		7.2
FY2018 first quarter		7,047,606		7.0		574,294		-10.6		679,348		0.3		613,056		11.0

(Note)  Comprehensive income: FY2019 first quarter 742,474 million yen (4.8 %), FY2018 first quarter 708,604 million yen (— %)

	Net income attributable to Toyota Motor Corporation per common share – Basic		Net income attributable to Toyota Motor Corporation per  common share –Diluted
	Yen		Yen
FY2019 first quarter		224.67		222.33
FY2018 first quarter		205.05		202.84

(2) Consolidated financial position

	Total assets		Mezzanine equity and Shareholders’ equity		Toyota Motor  Corporation shareholders’ equity		Ratio of Toyota Motor Corporation shareholders’ equity
	Million yen		Million yen		Million yen		%
FY2019 first quarter		51,049,149		20,122,897		18,946,917		37.1
FY2018		50,308,249		19,922,076		18,735,982		37.2

2. Cash Dividends

	Annual cash dividends per common share
	End of first quarter		End of second quarter		End of third quarter		Year-end		Total
	Yen		Yen		Yen		Yen		Yen
FY2018		—		100.00		—		120.00		220.00
FY2019		—
FY2019 (forecast)				—		—		—		—

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

            Please refer to “(Reference) Cash Dividends on Class Shares” for information regarding cash dividends on class shares, which are unlisted and have different rights from common stock.

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

	(% of change from FY2018)
	Net revenues				Operating income				Income before income taxes and equity in earnings of affiliated companies				Net income attributable to Toyota Motor Corporation				Net income attributable to Toyota Motor Corporation per common share – Basic
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Yen
Full-year		29,000,000		-1.3		2,300,000		-4.2		2,450,000		-6.5		2,120,000		-15.0		726.68

(Note)  Revisions to the forecast of consolidated results since the latest announcement:  none

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 7 “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 7 “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):

FY2019 first quarter 3,262,997,492 shares, FY2018    3,262,997,492 shares

(ii) Number of treasury stock at the end of each period:

FY2019 first quarter 370,396,669 shares, FY2018    353,073,500 shares

(iii) Average number of shares issued and outstanding in each period:

FY2019 first quarter 2,909,189,575 shares, FY2018 first quarter 2,974,749,507 shares

This report is not reviewed.

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.

(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
FY2018		—		79.00		—		79.00		158.00
FY2019		—
FY2019 (forecast)				—		—		—		—

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

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

TABLE OF CONTENTS

1.   Consolidated Financial Statements	2
(1) Consolidated Balance Sheets	2
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	4
(3) Consolidated Statements of Cash Flows	6
(4) Going Concern Assumption	7
(5) Significant Changes in Shareholders’ Equity	7
2.   Other Information	7
(1) Changes in significant subsidiaries during the current period	7
(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements	7
(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements	7
Supplemental Material for Financial Results for FY2019 First Quarter

1

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

1. Consolidated Financial Statements

(1) Consolidated Balance Sheets

	(Yen in millions)
	FY2018 (March 31, 2018)			FY2019 first quarter (June 30, 2018)			Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents		3,052,269			3,027,064			(25,205	)
Time deposits		901,244			869,547			(31,697	)
Marketable securities		1,768,360			1,648,476			(119,884	)
Trade accounts and notes receivable, less allowance for doubtful accounts		2,219,562			2,106,252			(113,310	)
Finance receivables, net		6,348,306			6,486,344			138,038
Other receivables		489,338			427,784			(61,554	)
Inventories		2,539,789			2,536,944			(2,845	)
Prepaid expenses and other current assets		833,788			924,534			90,746
Total current assets		18,152,656			18,026,945			(125,711	)
Noncurrent finance receivables, net		9,481,618			9,797,925			316,307
Investments and other assets:
Marketable securities and other securities investments		7,999,323			8,342,697			343,374
Affiliated companies		3,162,917			3,109,166			(53,751	)
Employees receivables		22,562			22,542			(20	)
Other		1,221,500			1,264,557			43,057
Total investments and other assets		12,406,302			12,738,962			332,660
Property, plant and equipment:
Land		1,404,611			1,389,767			(14,844	)
Buildings		4,659,753			4,675,076			15,323
Machinery and equipment		11,535,381			11,652,887			117,506
Vehicles and equipment on operating leases		5,934,393			6,172,707			238,314
Construction in progress		509,851			509,453			(398	)
Total property, plant and equipment, at cost		24,043,989			24,399,890			355,901
Less – Accumulated depreciation		(13,776,316	)		(13,914,573	)		(138,257	)
Total property, plant and equipment, net		10,267,673			10,485,317			217,644
Total assets		50,308,249			51,049,149			740,900

2

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

	(Yen in millions)
	FY2018 (March 31, 2018)			FY2019 first quarter (June 30, 2018)			Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings		5,154,913			5,390,696			235,783
Current portion of long-term debt		4,186,277			4,434,199			247,922
Accounts payable		2,586,657			2,390,623			(196,034	)
Other payables		1,048,216			880,584			(167,632	)
Accrued expenses		3,104,260			3,208,430			104,170
Income taxes payable		462,327			211,097			(251,230	)
Other current liabilities		1,254,241			1,317,546			63,305
Total current liabilities		17,796,891			17,833,175			36,284
Long-term liabilities:
Long-term debt		10,006,374			10,415,555			409,181
Accrued pension and severance costs		931,182			934,112			2,930
Deferred income taxes		1,118,165			1,174,705			56,540
Other long-term liabilities		533,561			568,705			35,144
Total long-term liabilities		12,589,282			13,093,077			503,795
Total liabilities		30,386,173			30,926,252			540,079
Mezzanine equity
Model AA Class Shares, no par value, authorized: 150,000,000 shares at March 31, 2018 and June 30, 2018 issued: 47,100,000 shares at March 31, 2018 and June 30, 2018		491,974			491,951			(23	)
Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2018 and June 30, 2018 issued: 3,262,997,492 shares at March 31, 2018 and June 30, 2018		397,050			397,050			—
Additional paid-in capital		487,502			487,746			244
Retained earnings		19,473,464			20,875,348			1,401,884
Accumulated other comprehensive income (loss)		435,699			(626,973	)		(1,062,672	)
Treasury stock, at cost, 353,073,500 shares at March 31, 2018 and 370,396,669 shares at June 30, 2018		(2,057,733	)		(2,186,254	)		(128,521	)
Total Toyota Motor Corporation shareholders’ equity		18,735,982			18,946,917			210,935
Noncontrolling interests		694,120			684,029			(10,091	)
Total shareholders’ equity		19,430,102			19,630,946			200,844
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders’ equity		50,308,249			51,049,149			740,900

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

3

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

(2) Consolidated Statements of Income and

      Consolidated Statements of Comprehensive Income

First quarter for the three months ended June 30

Consolidated Statements of Income

	(Yen in millions)
	FY2018 first  quarter (Three months ended June 30, 2017)			FY2019 first quarter (Three months ended June 30, 2018)			Increase (Decrease)
Net revenues:
Sales of products		6,578,122			6,853,963			275,841
Financing operations		469,484			508,770			39,286
Total net revenues		7,047,606			7,362,733			315,127
Costs and expenses:
Cost of products sold		5,442,731			5,639,996			197,265
Cost of financing operations		310,332			348,155			37,823
Selling, general and administrative		720,249			691,895			(28,354	)
Total costs and expenses		6,473,312			6,680,046			206,734
Operating income		574,294			682,687			108,393
Other income (expense):
Interest and dividend income		66,760			87,888			21,128
Interest expense		(4,388	)		(3,439	)		949
Foreign exchange gain, net		22,791			39,216			16,425
Unrealized gains (losses) on equity securities		—			35,033			35,033
Other income (loss), net		19,891			(27,521	)		(47,412	)
Total other income (expense)		105,054			131,177			26,123
Income before income taxes and equity in earnings of affiliated companies		679,348			813,864			134,516
Provision for income taxes		185,398			246,163			60,765
Equity in earnings of affiliated companies		137,802			116,535			(21,267	)
Net income		631,752			684,236			52,484
Less – Net income attributable to noncontrolling interests		(18,696	)		(26,930	)		(8,234	)
Net income attributable to Toyota Motor Corporation		613,056			657,306			44,250

Note: Net income attributable to common shareholders for the first three months ended June 30, 2018 and 2017 is 653,609 million yen and 609,983 million yen, respectively, which is derived by deducting dividend and accretion to Model AA Class Shares of 3,697 million yen and 3,073 million yen, respectively, from Net income attributable to Toyota Motor Corporation.

	(Yen)
Net income attributable to Toyota Motor Corporation per common share
Basic		205.05	224.67	19.62
Diluted		202.84	222.33	19.49

4

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

Consolidated Statements of Comprehensive Income

	(Yen in millions)
	FY2018 first  quarter (Three months ended June 30, 2017)			FY2019 first  quarter (Three months ended June 30, 2018)			Increase (Decrease)
Net income		631,752			684,236			52,484
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		15,288			50,709			35,421
Unrealized gains (losses) on securities		62,894			84			(62,810	)
Pension liability adjustments		(1,330	)		7,445			8,775
Total other comprehensive income (loss)		76,852			58,238			(18,614	)
Comprehensive income		708,604			742,474			33,870
Less – Comprehensive income attributable to noncontrolling interests		(21,487	)		(22,836	)		(1,349	)
Comprehensive income attributable to Toyota Motor Corporation		687,117			719,638			32,521

5

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

(3) Consolidated Statements of Cash Flows

	(Yen in millions)
	FY2018 first quarter (Three months ended June 30, 2017)			FY2019 first quarter (Three months ended June 30, 2018)
Cash flows from operating activities:
Net income		631,752			684,236
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation		400,618			413,454
Provision for doubtful accounts and credit losses		15,365			12,131
Pension and severance costs, less payments		(1,627	)		5,022
Losses on disposal of fixed assets		10,531			10,655
Unrealized losses (gains) on marketable securities		1			(32,262	)
Deferred income taxes		24,607			34,913
Equity in earnings of affiliated companies		(137,802	)		(116,535	)
Changes in operating assets and liabilities, and other		120,414			(187,598	)
Net cash provided by operating activities		1,063,859			824,016
Cash flows from investing activities:
Additions to finance receivables		(3,649,396	)		(3,957,951	)
Collection of and proceeds from sales of finance receivables		3,415,515			3,669,804
Additions to fixed assets excluding equipment leased to others		(281,402	)		(423,425	)
Additions to equipment leased to others		(591,088	)		(604,308	)
Proceeds from sales of fixed assets excluding equipment leased to others		9,995			13,714
Proceeds from sales of equipment leased to others		296,860			337,641
Purchases of marketable securities and security investments		(865,643	)		(669,345	)
Proceeds from sales of and maturity of marketable securities and security investments		635,292			602,713
Changes in investments and other assets, and other		12,089			(11,470	)
Net cash used in investing activities		(1,017,778	)		(1,042,627	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		1,200,362			1,417,764
Payments of long-term debt		(1,083,297	)		(907,349	)
Increase in short-term borrowings		123,934			156,882
Dividends paid to Toyota Motor Corporation class shareholders		(2,473	)		(3,721	)
Dividends paid to Toyota Motor Corporation common shareholders		(327,220	)		(349,191	)
Dividends paid to noncontrolling interests		(21,681	)		(28,520	)
Reissuance (repurchase) of treasury stock		653			(128,861	)
Net cash provided by (used in) financing activities		(109,722	)		157,004
Effect of exchange rate changes on cash and cash equivalents and restricted cash  and cash equivalents		889			9,587
Net decrease in cash and cash equivalents and restricted cash and cash equivalents		(62,752	)		(52,020	)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period		3,149,326			3,219,639
Cash and cash equivalents and restricted cash and cash equivalents at end of period		3,086,574			3,167,619

Note: Cash and cash equivalents and restricted cash and cash equivalents for the first quarter ended June 30, 2018 include restricted cash and cash equivalents of 167,370 million yen and 140,555 million yen at beginning of period and end of period, respectively. Restricted cash and cash equivalents were included in Prepaid expenses and other current assets in the consolidated balance sheets.

6

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

(4) Going Concern Assumption

None

(5) Significant Changes in Shareholders’ Equity

None

2. 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 quarter 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 May 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance on the recognition of revenue from contracts with customers. This guidance requires an entity to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and supersedes the current revenue recognition guidance. The parent company and its consolidated subsidiaries (“Toyota”) applied the modified retrospective method of adoption to contracts that are not completed as of the adoption on April 1, 2018. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In January 2016, the FASB issued updated guidance for financial instruments. This guidance addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments and requires entities to measure equity investments at fair value and recognize any changes in fair value in net income. Toyota adopted this guidance on April 1, 2018. Toyota recognized a cumulative-effect adjustment to retained earnings of ¥1,125,109 million as of April 1, 2018 for after-tax unrealized gains (losses) on equity securities previously recognized in accumulated other comprehensive income. Unrealized gains (losses) on equity securities, which is mainly included in “Unrealized gains (losses) on equity securities” of Toyota’s consolidated statements of income for the first quarter ended June 30, 2018, was ¥32,262 million.

7

TOYOTA MOTOR CORPORATION    FY2019 First Quarter Financial Summary

In August 2016, the FASB issued updated guidance for classification of statement of cash flows. This guidance clarifies classification of certain cash receipts and cash payments of statement of cash flows. Toyota adopted this guidance on April 1, 2018. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In October 2016, the FASB issued updated guidance that would require entities to recognize the income tax consequences of intercompany asset transfers other than inventory. Toyota adopted this guidance on April 1, 2018. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

In November 2016, the FASB issued updated guidance for the statement of cash flows. This guidance requires that restricted cash and restricted cash equivalents should be included with cash and cash equivalents. It also requires entities to disclose how the statement of cash flows that includes restricted cash with cash and cash equivalents reconciles to the balance sheet. Toyota adopted this guidance on April 1, 2018. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements. Restricted cash and cash equivalents mainly include customer collections on securitized receivables to be distributed to investors as payments on the related secured debt.

8

Supplemental Material for Financial Results for FY2019 First Quarter (Consolidated)

< U.S. GAAP >

	FY2018															FY2019			FY2019
	1Q (2017/4-6)			2Q (2017/7-9)			3Q (2017/10-12)			4Q (2018/1-3)			12 months (’17/4-’18/3)			1Q (2018/4-6)			Forecast 12 months (’18/4-’19/3)
Vehicle Production (thousands of units)		2,216			2,176			2,266			2,306			8,964			2,199
(Japan) –including Daihatsu & Hino		1,023			1,039			1,100			1,124			4,286			1,003
[Daihatsu & Hino]		[266	]		[260	]		[273	]		[288	]		[1,087	]		[257	]
(Overseas) –including Daihatsu & Hino		1,193			1,137			1,166			1,182			4,678			1,196
[Daihatsu & Hino]		[92	]		[93	]		[90	]		[129	]		[404	]		[133	]
North America		509			438			459			497			1,903			517
Europe		176			152			178			175			681			168
Asia		383			406			413			399			1,601			402
Central and South America		79			86			90			79			333			82
Oceania		20			23			0			0			43			0
Africa		26			32			26			32			117			28
Vehicle Sales (thousands of units)		2,215			2,175			2,289			2,286			8,964			2,236			8,900
[First Half 6 months]														[4,389	]					[4,420	]
(Japan) –including Daihatsu & Hino		544			543			552			616			2,255			510			2,190
[Daihatsu & Hino]		[164	]		[162	]		[158	]		[201	]		[685	]		[155	]		[670	]
(Overseas) –including Daihatsu & Hino		1,671			1,632			1,737			1,670			6,709			1,726			6,710
[Daihatsu & Hino]		[71	]		[75	]		[79	]		[82	]		[306	]		[75	]		[320	]
North America		723			672			735			675			2,806			746			2,750
Europe		240			229			237			262			968			253			950
Asia		363			382			404			394			1,543			394			1,690
Central and South America		108			109			118			110			445			117			460
Oceania		74			70			71			68			283			72			280
Africa		42			46			46			50			184			48			180
Middle East		119			122			123			109			472			93			400
Other		2			2			3			2			8			2
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		2,590			2,626			2,631			2,594			10,441			2,616			10,500
Housing Sales (units)		2,312			5,399			2,699			5,812			16,222			1,892			16,200

Supplemental 1

Supplemental Material for Financial Results for FY2019 First Quarter (Consolidated)

< U.S. GAAP >

	FY2018															FY2019			FY2019
	1Q (2017/4-6)			2Q (2017/7-9)			3Q (2017/10-12)			4Q (2018/1-3)			12 months (’17/4-’18/3)			1Q (2018/4-6)			Forecast 12 months (’18/4-’19/3)
Foreign Exchange Rates
Yen to US Dollar Rate		111			111			113			108			111			109			as premise: 106
Yen to Euro Rate		122			130			133			133			130			130			as premise: 126
Market Share (Japan)
Toyota (excluding Mini-Vehicles) (%)		49.3			45.1			50.0			44.0			46.9			46.2			approximately: 46
Toyota, Daihatsu and Hino (including Mini-Vehicles) (%)		46.2			43.3			46.8			42.0			44.4			43.8
Number of Employees		371,888			371,286			368,883			369,124			369,124			373,272	(Note 1)
Net Revenues (billions of yen)		7,047.6			7,143.6			7,605.7			7,582.5			29,379.5			7,362.7			29,000.0
Geographic Information
Japan		3,686.3			3,881.8			4,173.1			4,283.4			16,024.8			3,865.4
North America		2,661.4			2,567.7			2,799.8			2,545.3			10,574.4			2,791.1
Europe		761.5			758.2			792.2			873.1			3,185.2			785.8
Asia		1,196.7			1,287.6			1,341.5			1,322.2			5,148.1			1,316.2
Other		612.4			625.4			616.2			599.2			2,453.2			598.4
Elimination		-1,870.8			-1,977.3			-2,117.1			-2,040.9			-8,006.4			-1,994.4
Business Segment
Automotive		6,368.6			6,368.2			6,862.8			6,798.1			26,397.9			6,633.4
Financial Services		503.7			493.8			512.5			506.8			2,017.0			516.8
All Other		337.9			430.8			381.0			496.2			1,646.1			358.0
Elimination		-162.8			-149.2			-150.7			-218.7			-681.5			-145.6
Operating Income (billions of yen)		574.2			522.2			673.6			629.6			2,399.8			682.6			2,300.0
(Operating Income Ratio) (%)		(8.1	)		(7.3	)		(8.9	)		(8.3	)		(8.2	)		(9.3	)		(7.9	)
Geographic Information
Japan		319.2			321.3			470.6			548.7			1,659.9			395.9
North America		89.2			55.3			33.1			-38.8			138.8			63.5
Europe		20.3			17.4			23.3			13.8			75.0			23.0
Asia		104.3			109.8			123.6			95.3			433.1			146.3
Other		38.6			31.6			33.0			9.2			112.6			43.2
Elimination		2.4			-13.4			-10.1			1.2			-19.8			10.4
Business Segment
Automotive		489.3			423.1			569.0			529.5			2,011.1			602.5
Financial Services		75.3			69.4			82.6			58.1			285.5			73.5
All Other		13.6			22.8			24.7			39.5			100.8			11.4
Elimination		-4.0			6.8			-2.7			2.3			2.3			-4.8
Income before Income Taxes (billions of yen)		679.3			572.8			750.9			617.3			2,620.4			813.8			2,450.0
(Income before Income Taxes Ratio) (%)		(9.6	)		(8.0	)		(9.9	)		(8.1	)		(8.9	)		(11.1	)		(8.4	)
Equity in Earnings of Affiliated Companies (billions of yen)		137.8			97.2			123.8			111.2			470.0			116.5			440.0
Net Income (billions of yen)		613.0			458.2			941.8			480.8			2,493.9			657.3			2,120.0	(Note 2)
(Net Income Ratio) (%)		(8.7	)		(6.4	)		(12.4	)		(6.3	)		(8.5	)		(8.9	)		(7.3	)
Dividends
Common Shares
Cash Dividends (billions of yen)		—			293.4			—			349.1			642.6			—	(Note 3)
Cash Dividends per Share (yen)		—			100			—			120			220			—
Payout Ratio (%)		—			27.8			—			24.8			26.1			—
Model AA Class Shares
Cash Dividends (billions of yen)		—			3.7			—			3.7			7.4			—	(Note 3)
Cash Dividends per Share (yen)		—			79			—			79			158			—
Value of Shares Repurchased (billions of yen)[actual purchase]		—			249.9			34.9			214.9			499.9			129.1	(Note 4)
Value of Shares Repurchased (billions of yen)[shareholder return]		—			249.9			—			300.0 (maximum	)		549.9 (maximum	)		—	(Note 4)  (Note 5)
Number of Outstanding Common Shares (thousands)		3,262,997			3,262,997			3,262,997			3,262,997			3,262,997			3,262,997
Number of Outstanding Model AA Class Shares (thousands)		47,100			47,100			47,100			47,100			47,100			47,100

Supplemental 2

Supplemental Material for Financial Results for FY2019 First Quarter (Consolidated)

< U.S. GAAP >

	FY2018										FY2019			FY2019
	1Q (2017/4-6)		2Q (2017/7-9)		3Q (2017/10-12)		4Q (2018/1-3)		12 months (’17/4-’18/3)		1Q (2018/4-6)			Forecast 12 months (’18/4-’19/3)
R&D Expenses (billions of yen)		278.6		272.0		264.3		249.2		1,064.2		268.5			1,080.0
Depreciation Expenses (billions of yen)		212.9		242.3		248.5		260.6		964.4		217.7			1,000.0	(Note 6)
Geographic Information
Japan		108.4		132.6		136.4		145.9		523.4		108.5			550.0
North America		45.5		48.7		51.8		55.7		201.9		49.8			190.0
Europe		15.4		16.3		15.4		13.2		60.5		14.1			80.0
Asia		34.1		35.3		35.1		37.1		141.7		36.5			140.0
Other		9.2		9.2		9.6		8.6		36.7		8.6			40.0
Capital Expenditures (billions of yen)		205.7		285.1		299.4		512.3		1,302.7		311.8			1,370.0	(Note 6)
Geographic Information
Japan		112.5		152.1		156.9		264.0		685.7		143.6			740.0
North America		65.3		70.9		83.5		139.0		358.8		106.6			320.0
Europe		4.8		15.0		16.1		23.4		59.6		15.1			140.0
Asia		13.3		29.3		21.1		62.9		126.8		25.2			110.0
Other		9.6		17.6		21.7		22.7		71.7		21.2			60.0
Total Liquid Assets (billions of yen)		9,364.0		9,306.7		9,309.1		9,372.1		9,372.1		9,005.4	(Note 7)
Total Assets (billions of yen)		49,456.0		50,253.0		51,216.4		50,308.2		50,308.2		51,049.1
Toyota Motor Corporation Shareholders’ Equity (billions of yen)		17,874.2		18,253.4		18,996.4		18,735.9		18,735.9		18,946.9
Return on Equity (%)		13.8		10.1		20.2		10.1		13.7		13.9
Return on Asset (%)		5.0		3.7		7.4		3.8		5.0		5.2
Number of Consolidated Subsidiaries (including Variable Interest Entities)										606
No. of Affil. Accounted for Under the Equity Method										57

Analysis of Consolidated Net Income for FY2019 (billions of yen, approximately)	1Q (2018/4-6)(Note 2)
Marketing Efforts		45.0
Effects of Changes in Exchange Rates		0.0
Cost Reduction Efforts		15.0
From Engineering		0.0
From Manufacturing and Logistics		15.0
Decreases in Expenses, etc.		60.0
Other		-11.7
(Changes in Operating Income)		108.3
Non-operating Income		26.1
Equity in Earnings of Affiliated Companies		-21.2
Income Taxes, Net Income Attributable to Noncontrolling Interests		-68.9
(Changes in Net Income)		44.2	(Note 2)

Supplemental 3

Supplemental Material for Financial Results for FY2019 First Quarter (Unconsolidated)

< Japan GAAP >

	FY2018															FY2019			FY2019
	1Q (2017/4-6)			2Q (2017/7-9)			3Q (2017/10-12)			4Q (2018/1-3)			12 months (’17/4-’18/3)			1Q (2018/4-6)			Forecast 12 months (’18/4-’19/3)
Toyota & Lexus brand
Domestic Vehicle Production (thousands of units)		757			779			827			836			3,199			746			3,190
Overseas Vehicle Production (thousands of units)		1,464			1,420			1,435			1,405			5,724			1,451			5,710
Domestic Vehicle Retail Sales (thousands of units)		390			383			384			440			1,597			359			1,530
Exports Vehicle Sales (thousands of units)		440			457			504			481			1,882			464			1,940
North America		190			193			220			193			796			191			820
Europe		57			63			57			71			248			65			260
Asia		72			77			97			77			323			76			330
Central and South America		12			12			14			15			53			16			50
Oceania		40			42			38			46			166			46			180
Africa		14			15			13			12			54			14			60
Middle East		53			54			63			64			234			54			240
Other		2			1			2			3			8			2
Net Revenues (billions of yen)		2,870.2			2,918.1			3,259.8			3,153.2			12,201.4			2,980.3			12,100.0
Domestic		962.8			946.5			1,067.5			1,098.4			4,075.4			923.9
Exports		1,907.3			1,971.5			2,192.2			2,054.8			8,126.0			2,056.3
Operating Income (billions of yen)		222.4			215.5			343.3			476.1			1,257.5			308.7			1,120.0
(Operating Income Ratio) (%)		(7.8	)		(7.4	)		(10.5	)		(15.1	)		(10.3	)		(10.4	)		(9.3	)
Ordinary Income (billions of yen)		570.7			513.2			674.4			479.7			2,238.1			714.8			1,920.0
(Ordinary Income Ratio) (%)		(19.9	)		(17.6	)		(20.7	)		(15.2	)		(18.3	)		(24.0	)		(15.9	)
Net Income (billions of yen)		488.1			437.4			585.7			347.9			1,859.3			591.5			1,570.0
(Net Income Ratio) (%)		(17.0	)		(15.0	)		(18.0	)		(11.0	)		(15.2	)		(19.8	)		(13.0	)
R&D Expenses (billions of yen)		241.6			237.3			230.3			211.2			920.6			234.4			920.0
Depreciation Expenses (billions of yen)		58.4			58.0			56.0			55.2			227.8			52.6			250.0
Capital Expenditures (billions of yen)		54.0			57.6			60.0			113.2			284.8			73.6			330.0

Analysis of Unconsolidated Net Income for FY2019 (billions of yen, approximately)	1Q (2018/4-6)
Marketing Efforts		10.0
Effects of Changes in Exchange Rates		-5.0
Cost Reduction Efforts		15.0
From Engineering		15.0
From Manufacturing and Logistics		0.0
Decreases in Expenses, etc.		65.0
Other		1.2
(Changes in Operating Income)		86.2
Non-operating Income		57.8
Income Taxes, etc.		-40.7
(Changes in Net Income)		103.3

Cautionary Statement with Respect to Forward-Looking Statements

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

These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the 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.

(Note 1) Shows the number of employees as of the end of each period (excluding loan employees from Toyota and its consolidated subsidiaries (“Toyota”) to outside Toyota and including loan employees from outside Toyota to Toyota)

(Note 2) Shows “Net income attributable to Toyota Motor Corporation”

(Note 3) 2Q= Interim Dividend, 4Q= Year-end Dividend, FY= Annual Dividend

(Note 4) Value of common shares repurchased (excluding shares constituting less than one unit that were purchased upon request)

(Note 5) Value of common shares repurchased (shareholder return on Net Income for the period)

(Note 6) Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease

(Note 7) Cash and cash equivalents, time deposits, marketable debt securities and its investment in monetary trust funds, excluding in eash case those relating to financial services

Supplemental 4