FINANCIAL SUMMARY

(All financial information has been prepared in accordance with IFRS Accounting Standards)

FY2025 First Quarter

(April 1, 2024 through June 30, 2024)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

 FY2025 First Quarter Consolidated Financial Results
(All financial information has been prepared in accordance with IFRS Accounting Standards)
English translation from the original Japanese-language document

August 1, 2024
Company name : Toyota Motor Corporation
Stock exchanges on which the shares are listed : Tokyo and Nagoya Stock Exchanges in Japan
Code number : 7203
URL : https://global.toyota/jp/
Representative : Koji Sato, President
Contact person : Hideaki Hayashi, General Manager, Accounting Division
Tel. (0565)28-2121
Payment date of cash dividends : －
Supplemental materials prepared for financial results : yes
Earnings announcement for financial results : yes

(Amounts are rounded to the nearest million yen)

1. Consolidated Results for FY2025 First Quarter (April 1, 2024 through June 30, 2024)
(1) Consolidated financial results (For the first quarter ended June 30) (% of change from previous first quarter)
Net income
Income before attributable to Comprehensive
Sales revenues Operating income Net income
income taxes Toyota Motor income
Corporation
Million yen % Million yen % Million yen % Million yen % Million yen % Million yen %
FY2025 first quarter 11,837,879 12.2 1,308,462 16.7 1,872,258 8.8 1,363,823 2.8 1,333,347 1.7 2,196,759 -14.0
FY2024 first quarter 10,546,831 24.2 1,120,900 93.7 1,720,553 68.4 1,326,890 75.0 1,311,372 78.0 2,553,887 51.3

Earnings per share attributable to Earnings per share attributable to

Toyota Motor Corporation Toyota Motor Corporation
- Basic - Diluted
Yen Yen
FY2025 first quarter 98.99 98.99
FY2024 first quarter 96.74 96.74

(2) Consolidated financial position

Ratio of
Toyota Motor Corporation
Total assets Total shareholders' equity Toyota Motor Corporation
shareholders' equity
shareholders' equity
Million yen Million yen Million yen %
FY2025 first quarter 94,037,319 36,779,372 35,737,743 38.0
FY2024 90,114,296 35,239,338 34,220,991 38.0

2. Cash Dividends
Annual cash dividends per common share
End of first End of second End of third
Year-end Total
quarter quarter quarter
Yen Yen Yen Yen Yen
FY2024 － 30.00 － 45.00 75.00
FY2025 －
FY2025 (forecast) － － － －
(Note) Revisions to the forecast of cash dividends since the latest announcement: none

3. Forecast of Consolidated Results for FY2025 (April 1, 2024 through March 31, 2025)
(% of change from FY2024)
Net income Earnings per share
Income before income attributable to attributable to Toyota
Sales revenues Operating income
taxes Toyota Motor Motor Corporation
Corporation - Basic
Million yen % Million yen % Million yen % Million yen % Yen
Full-year 46,000,000 2.0 4,300,000 -19.7 5,070,000 -27.2 3,570,000 -27.8 265.04
(Note) Revisions to the forecast of consolidated results since the latest announcement: none
Notes
(1) Significant changes in the scope of consolidation during the period: none

(2) Changes in accounting policies and changes in accounting estimates

(i) Changes in accounting policies required by IFRS Accounting Standards: none
(ii) Changes other than (2)-(i) above: none
(iii) Changes in accounting estimates: none

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

(i) Number of shares issued and outstanding at the end of each period (including treasury stock): FY2025 first quarter 15,794,987,460 shares,
FY2024 16,314,987,460 shares
(ii) Number of treasury stock at the end of each period: FY2025 first quarter 2,325,417,265 shares,
FY2024 2,840,815,433 shares
(iii) Average number of shares issued and outstanding in each period: FY2025 first quarter 13,469,159,202 shares,
FY2024 first quarter 13,555,662,829 shares

Review of the Japanese-language originals of the attached condensed quarterly consolidated financial statements by certified public
accountants or an audit firm: yes (voluntary)

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

This report contains forward-looking statements that reflect Toyota's plans and expectations. These forward-looking statements are not guarantees
of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota's actual results, performance,
achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or
implied by these forward-looking statements. These factors include, but are not limited to: (i) changes in economic conditions, market demand, and
the competitive environment affecting the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates;
(ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar,
the Canadian dollar and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial
markets and increased competition in the financial services industry; (iv) Toyota's ability to market and distribute effectively; (v) Toyota's ability to
realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (vi) changes in the laws,
regulations and government policies in the markets in which Toyota operates that affect Toyota's automotive operations, particularly laws, regulations
and government policies relating to vehicle safety including remedial measures such as recalls, trade, environmental protection, vehicle emissions
and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota's other operations, including the
outcome of current and future litigation and other legal proceedings, government proceedings and investigations; (vii) political and economic instability
in the markets in which Toyota operates; (viii) Toyota's ability to timely develop and achieve market acceptance of new products that meet customer
demand; (ix) any damage to Toyota's brand image; (x) Toyota's reliance on various suppliers for the provision of supplies; (xi) increases in prices of
raw materials; (xii) Toyota's reliance on various digital and information technologies, as well as information security; (xiii) fuel shortages or
interruptions in electricity, transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in
the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced,
distributed or sold; (xiv) the impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social
infrastructure, wars, terrorism and labor strikes, including their negative effect on Toyota's vehicle production and sales; (xv) the impact of climate
change and the transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources.
A discussion of these and other factors which may affect Toyota's actual results, performance, achievements or financial position is contained in
Toyota's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

In order to convey top management's aspirations and the company's direction to all those whose lives are touched by Toyota, Toyota
communicates what Toyota is really like through "Toyota Times."
"Toyota Times" (https://toyotatimes.jp/en/)
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

TABLE OF CONTENTS

Financial Results and Position......................................................................................................................................... 2

1. Consolidated Financial Results for FY2025 First Quarter............................................................................................ 2

2. Consolidated Financial Position for FY2025 First Quarter........................................................................................... 4

Unaudited Condensed Quarterly Consolidated Financial Statements................................................................................. 5

1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position........................................................ 5

2. Unaudited Condensed Quarterly Consolidated Statement of Income and

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income............................................... 7

3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity........................................................ 9

4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows.................................................................. 10

5. Notes to Unaudited Condensed Quarterly Consolidated Financial Statements.......................................................... 11

(1) Going Concern Assumption................................................................................................................................. 11

(2) Segment Information........................................................................................................................................... 12

Supplemental Material for Financial Results for FY2025 First Quarter

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

Financial Results and Position

1. Consolidated Financial Results for FY2025 First Quarter

Financial Results
Consolidated vehicle unit sales in Japan and overseas decreased by 74 thousand units, or 3.2%, to 2,252
thousand units in FY2025 first quarter (the first quarter ended June 30, 2024) compared with FY2024 first quarter
(the first quarter ended June 30, 2023). Vehicle unit sales in Japan decreased by 110 thousand units, or 20.8%, to
421 thousand units in FY2025 first quarter compared with FY2024 first quarter. Meanwhile, overseas vehicle unit
sales increased by 36 thousand units, or 2.0%, to 1,830 thousand units in FY2025 first quarter compared with
FY2024 first quarter.

The results of operations for FY2025 first quarter were as follows:

(an increase of 1,291.0 billion yen
Sales revenues 11,837.8 billion yen or 12.2% compared with FY2024 first
quarter)
(an increase of 187.5 billion yen
Operating income 1,308.4 billion yen or 16.7% compared with FY2024 first
quarter)
(an increase of 151.7 billion yen
Income before income taxes 1,872.2 billion yen or 8.8% compared with FY2024 first
quarter)
(an increase of 21.9 billion yen
Net income attributable to
1,333.3 billion yen or 1.7% compared with FY2024 first
Toyota Motor Corporation
quarter)

The changes in operating income were as follows:

Marketing efforts an increase of 70.0 billion yen
Effects of changes in exchange rates an increase of 370.0 billion yen
Cost reduction efforts an increase of 55.0 billion yen
Increase or decrease in expenses
a decrease of 225.0 billion yen
and expense reduction efforts
Other a decrease of 82.5 billion yen

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

Segment Operating Results

(1) Automotive:
Sales revenues for the automotive operations increased by 1,071.7 billion yen, or 11.1%, to 10,759.7
billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by
172.2 billion yen, or 18.2%, to 1,117.9 billion yen in FY2025 first quarter compared with FY2024 first quarter.
The increase in operating income was mainly due to the effects of changes in exchange rates.
(2) Financial services:
Sales revenues for the financial services operations increased by 230.1 billion yen, or 29.7%, to 1,005.3
billion yen in FY2025 first quarter compared with FY2024 first quarter, and operating income increased by
12.4 billion yen, or 8.4%, to 159.7 billion yen in FY2025 first quarter compared with FY2024 first quarter. The
increase in operating income was mainly due to increase in loan balance in sales finance subsidiaries in the
United States.
(3) All other:
Sales revenues for all other businesses increased by 9.2 billion yen, or 3.0%, to 315.6 billion yen in
FY2025 first quarter compared with FY2024 first quarter, and operating income increased by 0.5 billion yen,
or 1.4%, to 40.7 billion yen in FY2025 first quarter compared with FY2024 first quarter.

Geographic Information

(1) Japan:
Sales revenues in Japan increased by 118.5 billion yen, or 2.3%, to 5,224.0 billion yen in FY2025 first
quarter compared with FY2024 first quarter, and operating income increased by 179.3 billion yen, or 25.5%,
to 881.2 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating
income was mainly due to the effects of changes in exchange rates.

(2) North America:

Sales revenues in North America increased by 910.3 billion yen, or 22.2%, to 5,002.4 billion yen in
FY2025 first quarter compared with FY2024 first quarter. However, operating income decreased by 34.5 billion
yen, or 28.9%, to 85.0 billion yen in FY2025 first quarter compared with FY2024 first quarter. The decrease
in operating income was mainly due to the increase in expenses and others.

(3) Europe:
Sales revenues in Europe increased by 209.9 billion yen, or 16.2%, to 1,509.0 billion yen in FY2025
first quarter compared with FY2024 first quarter, and operating income increased by 41.5 billion yen, or 50.0%,
to 124.6 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating
income was mainly due to the decrease in expenses and others.

(4) Asia:
Sales revenues in Asia increased by 267.1 billion yen, or 13.6%, to 2,231.7 billion yen in FY2025 first
quarter compared with FY2024 first quarter, and operating income increased by 59.7 billion yen, or 32.1%, to
245.9 billion yen in FY2025 first quarter compared with FY2024 first quarter. The increase in operating income
was mainly due to the effects of changes in exchange rates.

(5) Other (Central and South America, Oceania, Africa and the Middle East):
Sales revenues in other regions increased by 29.2 billion yen, or 2.9%, to 1,053.8 billion yen in FY2025
first quarter compared with FY2024 first quarter. However, operating income decreased by 43.6 billion yen, or
51.1%, to 41.7 billion yen in FY2025 first quarter compared with FY2024 first quarter. The decrease in
operating income was mainly due to the unfavorable impact of inflation and weak peso in Argentina.

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

2. Consolidated Financial Position for FY2025 first quarter

Financial Position
The financial position for FY2025 first quarter was as follows:
Total assets increased by 3,923.0 billion yen, or 4.4%, to 94,037.3 billion yen at the end of FY2025 first
quarter compared with the end of FY2024. Liabilities increased by 2,382.9 billion yen, or 4.3%, to 57,257.9 billion
yen at the end of FY2025 first quarter compared with the end of FY2024. Shareholders' equity increased by
1,540.0 billion yen, or 4.4%, to 36,779.3 billion yen at the end of FY2025 first quarter compared with the end of
FY2024.

Overview of Cash Flow

Cash and cash equivalents decreased by 1,814.9 billion yen, or 19.3%, to 7,597.0 billion yen at the end
of FY2025 first quarter compared with the end of FY2024.
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 683.6 billion yen in FY2025
first quarter. Net cash provided by operating activities decreased by 674.5 billion yen from 1,358.2 billion yen in
FY2024 first quarter.

Cash flows from investing activities

Net cash flows from investing activities resulted in a decrease in cash by 2,399.6 billion yen in FY2025
first quarter. Net cash used in investing activities increased by 1,282.5 billion yen from 1,117.0 billion yen in
FY2024 first quarter.

Cash flows from financing activities

Net cash flows from financing activities resulted in a decrease in cash by 318.7 billion yen in FY2025
first quarter. Net cash used in financing activities increased by 225.9 billion yen from 92.8 billion yen in FY2024
first quarter.

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Financial Statements and

Notes to Unaudited Condensed Quarterly Consolidated Financial Statements

1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position

Yen in millions

March 31, 2024 June 30, 2024

Assets
Current assets
Cash and cash equivalents 9,412,060 7,597,094
Trade accounts and other receivables 3,789,429 4,040,297
Receivables related to financial services 11,057,269 11,937,807
Other financial assets 4,702,168 6,029,041
Inventories 4,605,368 4,787,791
Income tax receivable 116,886 163,593
Other current assets 1,031,098 1,168,228
Total current assets 34,714,279 35,723,850
Non-current assets
Investments accounted for using the equity method 5,710,106 5,606,133
Receivables related to financial services 20,637,090 22,468,466
Other financial assets 11,390,559 11,696,448
Property, plant and equipment
Land 1,441,811 1,453,632
Buildings 5,884,749 6,033,632
Machinery and equipment 16,469,032 17,123,075
Vehicles and equipment on operating leases 7,523,911 8,072,550
Construction in progress 1,040,188 1,186,723
Total property, plant and equipment, at cost 32,359,692 33,869,612
Less - Accumulated depreciation and impairment losses (18,101,905) (18,855,355)
Total property, plant and equipment, net 14,257,788 15,014,257
Right of use assets 532,835 579,402
Intangible assets 1,355,326 1,356,564
Deferred tax assets 502,230 532,424
Other non-current assets 1,014,083 1,059,773
Total non-current assets 55,400,017 58,313,468
Total assets 90,114,296 94,037,319

5
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

Yen in millions

March 31, 2024 June 30, 2024

Liabilities
Current liabilities
Trade accounts and other payables 5,251,357 5,146,699
Short-term and current portion of long-term debt 15,406,284 16,721,672
Accrued expenses 1,863,760 1,956,814
Other financial liabilities 1,700,137 1,896,316
Income taxes payable 1,224,542 689,698
Liabilities for quality assurance 1,836,314 1,929,945
Other current liabilities 1,895,516 1,864,135
Total current liabilities 29,177,909 30,205,278
Non-current liabilities
Long-term debt 21,155,496 22,193,255
Other financial liabilities 495,814 571,385
Retirement benefit liabilities 1,077,962 1,115,760
Deferred tax liabilities 2,219,638 2,222,806
Other non-current liabilities 748,139 949,463
Total non-current liabilities 25,697,049 27,052,669
Total liabilities 54,874,958 57,257,947
Shareholders' equity
Common stock 397,050 397,050
Additional paid-in capital 491,802 491,081
Retained earnings 32,795,365 32,741,232
Other components of equity 4,503,756 5,364,252
Treasury stock (3,966,982) (3,255,871)
Total Toyota Motor Corporation shareholders' equity 34,220,991 35,737,743
Non-controlling interests 1,018,347 1,041,628
Total shareholders' equity 35,239,338 36,779,372
Total liabilities and shareholders' equity 90,114,296 94,037,319

6
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

2. Unaudited Condensed Quarterly Consolidated Statement of Income and

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Unaudited Condensed Quarterly Consolidated Statement of Income

Yen in millions
For the first quarter ended For the first quarter ended
June 30, 2023 June 30, 2024

Sales revenues
Sales of products 9,785,454 10,845,224
Financial services 761,377 992,656
Total sales revenues 10,546,831 11,837,879
Costs and expenses
Cost of products sold 8,040,979 8,774,492
Cost of financial services 442,948 634,942
Selling, general and administrative 942,003 1,119,984
Total costs and expenses 9,425,931 10,529,418
Operating income 1,120,900 1,308,462
Share of profit (loss) of investments accounted for using the equity method 193,356 164,937
Other finance income 190,127 173,800
Other finance costs (23,339) (16,509)
Foreign exchange gain (loss), net 246,776 236,999
Other income (loss), net (7,267) 4,570
Income before income taxes 1,720,553 1,872,258
Income tax expense 393,663 508,435
Net income 1,326,890 1,363,823
Net income attributable to
Toyota Motor Corporation 1,311,372 1,333,347
Non-controlling interests 15,518 30,476
Net income 1,326,890 1,363,823

Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted 96.74 98.99

7
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Yen in millions
For the first quarter ended For the first quarter ended
June 30, 2023 June 30, 2024

Net income 1,326,890 1,363,823

Other comprehensive income, net of tax
Items that will not be reclassified to profit (loss)
Net changes in revaluation of financial assets measured at fair value
375,035 101,831
through other comprehensive income
Remeasurements of defined benefit plans (3,074) (5,679)
Share of other comprehensive income of equity method investees 60,922 5,634
Total of items that will not be reclassified to profit (loss) 432,883 101,786
Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations 760,182 628,685
Net changes in revaluation of financial assets measured at fair value
(7,604) (21,714)
through other comprehensive income
Share of other comprehensive income of equity method investees 41,536 124,179
Total of items that may be reclassified subsequently to profit (loss) 794,114 731,149
Total other comprehensive income, net of tax 1,226,997 832,936
Comprehensive income 2,553,887 2,196,759
Comprehensive income for the period attributable to
Toyota Motor Corporation 2,500,599 2,139,964
Non-controlling interests 53,288 56,794
Comprehensive income 2,553,887 2,196,759

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity

For the first quarter ended June 30, 2023

Yen in millions
Toyota Motor Non- Total
Additional Other
Common Retained Treasury Corporation
paid-in components controlling shareholders'
stock earnings stock shareholders'
capital of equity interests equity
equity
Balances at April 1, 2023 397,050 498,728 28,343,296 2,836,195 (3,736,562) 28,338,706 925,507 29,264,213
Comprehensive income
Net income － － 1,311,372 － － 1,311,372 15,518 1,326,890
Other comprehensive
－ － － 1,189,227 － 1,189,227 37,770 1,226,997
income, net of tax
Total comprehensive
－ － 1,311,372 1,189,227 － 2,500,599 53,288 2,553,887
income
Transactions with owners
and other
Dividends paid － － (474,781) － － (474,781) (35,457) (510,238)
Repurchase of treasury
－ － － － (34,377) (34,377) － (34,377)
stock
Reissuance of treasury
－ 263 － － 649 911 － 911
stock
Equity transactions
－ (995) － － － (995) 1,003 8
and other
Total transactions with
－ (733) (474,781) － (33,728) (509,242) (34,454) (543,696)
owners and other
Reclassification to
－ － 99,799 (99,799) － － － －
retained earnings
Balances at June 30, 2023 397,050 497,995 29,279,685 3,925,624 (3,770,291) 30,330,063 944,341 31,274,404

For the first quarter ended June 30, 2024

Yen in millions
Toyota Motor Non- Total
Additional Other
Common Retained Treasury Corporation
paid-in components controlling shareholders'
stock earnings stock shareholders'
capital of equity interests equity
equity
Balances at April 1, 2024 397,050 491,802 32,795,365 4,503,756 (3,966,982) 34,220,991 1,018,347 35,239,338
Comprehensive income
Net income － － 1,333,347 － － 1,333,347 30,476 1,363,823
Other comprehensive
－ － － 806,618 － 806,618 26,318 832,936
income, net of tax
Total comprehensive
－ － 1,333,347 806,618 － 2,139,964 56,794 2,196,759
income
Transactions with owners
and other
Dividends paid － － (606,338) － － (606,338) (43,568) (649,906)
Repurchase of treasury
－ － － － (18,972) (18,972) － (18,972)
stock
Reissuance of treasury
－ 1,356 － － 866 2,222 － 2,222
stock
Retirement of treasury
－ (1,953) (727,264) － 729,217 － － －
stock
Equity transactions
－ (125) － － － (125) 10,055 9,930
and other
Total transactions with
－ (721) (1,333,602) － 711,111 (623,212) (33,513) (656,725)
owners and other
Reclassification to
－ － (53,878) 53,878 － － － －
retained earnings
Balances at June 30, 2024 397,050 491,081 32,741,232 5,364,252 (3,255,871) 35,737,743 1,041,628 36,779,372

9
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows

Yen in millions
For the first quarter ended For the first quarter ended
June 30, 2023 June 30, 2024
Cash flows from operating activities
Net income 1,326,890 1,363,823
Depreciation and amortization 505,809 575,278
Interest income and interest costs related to financial services, net (174,594) (197,906)
Share of profit (loss) of investments accounted for using the equity method (193,356) (164,937)
Income tax expense 393,663 508,435
Changes in operating assets and liabilities, and other (802,363) (1,024,898)
Interest received 488,866 667,642
Dividends received 445,938 467,291
Interest paid (204,171) (324,593)
Income taxes paid, net of refunds (428,464) (1,186,473)
Net cash provided by (used in) operating activities 1,358,218 683,661
Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others (458,706) (405,618)
Additions to equipment leased to others (636,023) (1,028,186)
Proceeds from sales of fixed assets excluding equipment leased to others 8,165 10,098
Proceeds from sales of equipment leased to others 460,086 629,911
Additions to intangible assets (80,030) (63,862)
Additions to public and corporate bonds and stocks (614,453) (1,137,458)
Proceeds from sales of public and corporate bonds and stocks and
755,711 649,510
upon maturity of public and corporate bonds
Other, net (551,805) (1,053,998)
Net cash provided by (used in) investing activities (1,117,054) (2,399,603)
Cash flows from financing activities
Increase (decrease) in short-term debt 138,977 79,936
Proceeds from long-term debt 2,181,694 3,036,195
Payments of long-term debt (1,869,180) (2,774,003)
Dividends paid to Toyota Motor Corporation common shareholders (474,781) (606,338)
Dividends paid to non-controlling interests (35,457) (43,568)
Reissuance (repurchase) of treasury stock (34,377) (18,972)
Other, net 268 7,960
Net cash provided by (used in) financing activities (92,858) (318,790)
Effect of exchange rate changes on cash and cash equivalents 241,175 219,765
Net increase (decrease) in cash and cash equivalents 389,481 (1,814,966)
Cash and cash equivalents at beginning of period 7,516,966 9,412,060
Cash and cash equivalents at end of period 7,906,447 7,597,094

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

5. Notes to Unaudited Condensed Quarterly Consolidated Financial Statements

(1) Going Concern Assumption

None

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 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

(2) Segment information

(ⅰ) Outline of reporting segments

The operating segments reported below are the segments of Toyota for which separate financial
information is available and for which operating income/loss amounts are evaluated regularly by executive
management in deciding how to allocate resources and in assessing performance.
The major portions of Toyota's operations on a worldwide basis are derived from the Automotive and
Financial services business segments. The Automotive segment designs, manufactures and distributes
sedans, minivans, compact cars, SUVs, trucks and related parts and accessories. The Financial services
segment consists primarily of financing and vehicle leasing operations to assist in the merchandising of
Toyota's products as well as other products. The All other segment includes telecommunications and other
businesses.

(ⅱ) Segment operating results

For the first quarter ended June 30, 2023:

Yen in millions
Financial
Automotive services All other Elimination Consolidated
Sales revenues
Revenues from external customers 9,669,784 761,377 115,670 － 10,546,831
Inter-segment revenues and transfers 18,160 13,803 190,773 (222,736) －
Total 9,687,944 775,180 306,443 (222,736) 10,546,831
Operating expenses 8,742,306 627,887 266,217 (210,479) 9,425,931
Operating income 945,639 147,293 40,226 (12,256) 1,120,900

For the first quarter ended June 30, 2024:

Yen in millions
Financial
Automotive services All other Elimination Consolidated
Sales revenues
Revenues from external customers 10,707,121 992,656 138,102 － 11,837,879
Inter-segment revenues and transfers 52,584 12,710 177,567 (242,861) －
Total 10,759,705 1,005,366 315,669 (242,861) 11,837,879
Operating expenses 9,641,799 845,627 274,879 (232,888) 10,529,418
Operating income 1,117,906 159,738 40,790 (9,973) 1,308,462

Accounting policies applied by each segment are in conformity with those of Toyota's condensed
quarterly consolidated financial statements. Transfers between segments are made in accordance with terms
and conditions in the ordinary course of business.

12
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

(ⅲ) Geographic information

For the first quarter ended June 30, 2023:

Yen in millions

Japan North America Europe Asia Other Elimination Consolidated

Sales revenues
Revenues from
external customers 2,588,180 4,025,715 1,255,454 1,702,911 974,571 － 10,546,831
Inter-segment
revenues and
2,517,373 66,358 43,613 261,668 50,073 (2,939,086) －
transfers
Total 5,105,553 4,092,074 1,299,067 1,964,579 1,024,644 (2,939,086) 10,546,831
Operating expenses 4,403,604 3,972,416 1,215,976 1,778,377 939,236 (2,883,679) 9,425,931
Operating income 701,949 119,658 83,090 186,202 85,408 (55,406) 1,120,900

For the first quarter ended June 30, 2024:

Yen in millions

Japan North America Europe Asia Other Elimination Consolidated

Sales revenues
Revenues from
external customers 2,470,246 4,914,562 1,461,791 1,950,769 1,040,512 － 11,837,879
Inter-segment
revenues and
2,753,849 87,865 47,215 281,006 13,345 (3,183,279) －
transfers
Total 5,224,094 5,002,427 1,509,006 2,231,775 1,053,857 (3,183,279) 11,837,879
Operating expenses 4,342,815 4,917,366 1,384,330 1,985,829 1,012,062 (3,112,985) 10,529,418
Operating income 881,279 85,061 124,676 245,946 41,795 (70,294) 1,308,462

"Other" consists of Central and South America, Oceania, Africa and the Middle East.

The above amounts are aggregated by region based on the location of the country where TMC or
consolidated subsidiaries are located. Transfers between geographic areas are made in accordance with terms
and conditions in the ordinary course of business.

13
 TOYOTA MOTOR CORPORATION FY2025 First Quarter Financial Summary

(ⅳ) Sales revenues by location of external customers

Yen in millions

For the first quarter ended June 30,

2023 2024
Japan 1,888,484 1,738,709
North America 4,031,922 4,934,278
Europe 1,225,994 1,419,779
Asia 1,786,939 1,976,558
Other 1,613,493 1,768,555
Total 10,546,831 11,837,879

"Other" consists of Central and South America, Oceania, Africa and the Middle East, etc.

14
Supplemental Material for Financial Results for FY2025 First Quarter (Consolidated)
< IFRS >
FY2024 FY2025 FY2025
Forecast
1Q 2Q 3Q 4Q 12 months 1Q 12 months
(2023/4-6) (2023/7-9) (2023/10-12) (2024/1-3) ('23/4-'24/3) (2024/4-6) ('24/4-'25/3)

Vehicle Production
(thousands of units) 2,345 2,379 2,444 2,095 9,263 2,186

(Japan)
- including Daihatsu & Hino 1,025 1,090 1,115 813 4,042 901

[Daihatsu & Hino] [ 190 ] [ 232 ] [ 247 ] [ 65 ] [ 734 ] [ 141 ]

(Overseas)
- including Daihatsu & Hino 1,321 1,289 1,328 1,282 5,221 1,285

[Daihatsu & Hino] [ 118 ] [ 139 ] [ 134 ] [ 114 ] [ 506 ] [ 106 ]

North America 520 482 475 499 1,976 523

Europe 223 161 238 224 846 215

Asia 437 498 489 453 1,876 434

Central and
102 105 91 85 383 87
South America

Africa 39 44 35 22 140 26

Vehicle Sales
(thousands of units) 2,326 2,418 2,551 2,148 9,443 2,252 9,500

(Japan)
- including Daihatsu & Hino 532 540 558 363 1,993 421 1,870

[Daihatsu & Hino] [ 134 ] [ 141 ] [ 154 ] [ 48 ] [ 477 ] [ 84 ] [ 330 ]

(Overseas)
- including Daihatsu & Hino 1,794 1,878 1,993 1,784 7,450 1,830 7,630

[Daihatsu & Hino] [ 69 ] [ 74 ] [ 64 ] [ 64 ] [ 271 ] [ 61 ] [ 270 ]

North America 682 703 776 655 2,816 705 2,870

Europe 286 270 327 308 1,192 291 1,160

Asia 417 478 480 428 1,804 436 1,940

Central and
128 126 120 136 510 114 500
South America

Oceania 76 87 80 74 318 82 300

Africa 59 62 55 46 221 49 260

Middle East 143 149 151 136 579 151 600

Other 3 2 3 2 10 2

Total Retail Unit Sales (thousands of units)

[Toyota, Daihatsu and Hino] 2,751 2,845 2,968 2,526 11,090 2,636 10,950

Supplemental 1
Supplemental Material for Financial Results for FY2025 First Quarter (Consolidated)
< IFRS >
FY2024 FY2025 FY2025
Forecast
1Q 2Q 3Q 4Q 12 months 1Q 12 months
(2023/4-6) (2023/7-9) (2023/10-12) (2024/1-3) ('23/4-'24/3) (2024/4-6) ('24/4-'25/3)
Foreign Exchange Rates
as premise:
Yen to US Dollar Rate 137 145 148 149 145 156 145
as premise:
Yen to Euro Rate 150 157 159 161 157 168 160

Number of Employees 379,659 381,576 380,737 380,793 380,793 384,954 (Note 1)

Sales Revenues (billions of yen) 10,546.8 11,434.7 12,041.1 11,072.6 45,095.3 11,837.8 46,000.0
Geographic Information
Japan 5,105.5 5,404.7 5,626.8 4,883.5 21,020.7 5,224.0
North America 4,092.0 4,504.2 4,958.1 4,388.6 17,943.0 5,002.4
Europe 1,299.0 1,359.4 1,520.7 1,502.4 5,681.7 1,509.0
Asia 1,964.5 2,346.6 2,371.3 2,048.2 8,730.7 2,231.7
Other 1,024.6 1,165.1 974.0 1,225.9 4,389.7 1,053.8
Elimination -2,939.0 -3,345.3 -3,410.0 -2,976.3 -12,670.7 -3,183.2
Business Segment
Automotive 9,687.9 10,477.3 11,065.7 10,035.1 41,266.2 10,759.7
Financial Services 775.1 846.1 922.3 940.4 3,484.1 1,005.3
All Other 306.4 319.2 357.4 385.0 1,368.1 315.6
Elimination -222.7 -207.9 -304.4 -288.0 -1,023.2 -242.8
Operating Income (billions of yen) 1,120.9 1,438.3 1,680.9 1,112.6 5,352.9 1,308.4 4,300.0
(Operating Income Ratio) (%) ( 10.6 ) ( 12.6 ) ( 14.0 ) ( 10.0 ) ( 11.9 ) ( 11.1 ( 9.3 )
Geographic Information
Japan 701.9 879.1 1,104.1 799.0 3,484.2 881.2
North America 119.6 169.4 227.4 -10.2 506.3 85.0
Europe 83.0 99.3 103.1 102.5 388.0 124.6
Asia 186.2 224.9 238.4 215.9 865.5 245.9
Other 85.4 104.2 9.2 -0.6 198.3 41.7
Elimination -55.4 -38.7 -1.5 5.9 -89.6 -70.2
Business Segment
Automotive 945.6 1,301.6 1,472.6 901.5 4,621.4 1,117.9
Financial Services 147.2 97.6 172.0 153.0 570.0 159.7
All Other 40.2 39.5 44.1 51.2 175.2 40.7
Elimination -12.2 -0.4 -7.9 6.8 -13.8 -9.9
Share of Profit (Loss) of Investments Accounted for
Using the Equity Method (billions of yen) 193.3 185.1 217.6 166.9 763.1 164.9 680.0
Income before Income Taxes (billions of yen) 1,720.5 1,800.9 1,835.5 1,608.0 6,965.0 1,872.2 5,070.0
(Income before Income Taxes Ratio) (%) ( 16.3 ) ( 15.7 ) ( 15.2 ) ( 14.5 ) ( 15.4 ) ( 15.8 ) ( 11.0 )
Net Income Attributable toToyota Motor Corporation (billions of yen) 1,311.3 1,278.0 1,357.8 997.6 4,944.9 1,333.3 3,570.0
(Net Income Ratio) (%) ( 12.4 ) ( 11.2 ) ( 11.3 ) ( 9.0 ) ( 11.0 ) ( 11.3 ) ( 7.8 )
Dividends

Cash Dividends (billions of yen) ― 405.4 ― 606.3 1,011.7 ― (Note 2)

Cash Dividends per Share (yen) ― 30 ― 45 75 ―

Payout Ratio (%) ― 15.6 ― 25.7 20.4 ―

Value of Shares Repurchased
(billions of yen)[actual purchase] 34.3 82.1 75.0 39.4 231.0 18.9 (Note 3)

Value of Shares Repurchased (Note 3)

(billions of yen)[shareholder return] ― 99.9 ― 1,000.0 1,099.9 ― (Note 4)

Number of Outstanding Shares

16,314,987 16,314,987 16,314,987 16,314,987 16,314,987 15,794,987
(thousands)

Supplemental 2
Supplemental Material for Financial Results for FY2025 First Quarter (Consolidated)
< IFRS >
FY2024 FY2025 FY2025
Forecast
1Q 2Q 3Q 4Q 12 months 1Q 12 months
(2023/4-6) (2023/7-9) (2023/10-12) (2024/1-3) ('23/4-'24/3) (2024/4-6) ('24/4-'25/3)

R&D Expenses (billions of yen) 294.8 314.0 289.2 304.2 1,202.3 304.6 1,300.0 (Note 5)

Depreciation Expenses
(billions of yen)
298.3 303.2 302.9 343.8 1,248.4 352.3 1,380.0 (Note 6)

Geographic Information

Japan 140.7 139.5 133.6 152.8 566.7 148.6

North America 79.4 84.5 91.4 122.4 377.8 120.4

Europe 21.4 23.4 21.3 15.9 82.1 23.4

Asia 46.1 44.6 45.4 45.4 181.6 48.3

Other 10.5 11.1 11.0 7.2 40.0 11.4

Capital Expenditures (billions of yen) 366.6 442.8 486.9 714.4 2,010.8 368.0 2,150.0 (Note 6)

Geographic Information

Japan 144.0 175.2 174.0 354.3 847.6 163.2

North America 154.1 159.5 182.6 226.2 722.5 115.9

Europe 12.5 28.9 23.4 23.9 88.8 17.4

Asia 41.1 54.9 89.4 82.7 268.2 52.6

Other 14.7 24.2 17.3 27.1 83.5 18.6

Total Liquid Assets (billions of yen) 12,287.8 13,808.6 14,143.6 15,079.5 15,079.5 15,585.7 (Note 7)

Total Assets (billions of yen) 80,131.2 83,661.3 84,232.1 90,114.2 90,114.2 94,037.3
Toyota Motor Corporation
Shareholders' Equity (billions of yen)
30,330.0 31,893.1 32,561.6 34,220.9 34,220.9 35,737.7

Return on Equity (%) 17.9 16.4 16.9 12.0 15.8 15.2

Return on Asset (%) 6.8 6.2 6.5 4.6 6.0 5.8

Number of Consolidated Subsidiaries
(including Structured Entities)
577
Number of Associates and Joint Ventures
Accounted for Using the Equity Method
165

Analysis of Consolidated Net Income

Attributable to Toyota Motor Corporation for FY2025 1Q
(billions of yen, approximately) (2024/4-6) Cautionary Statement with Respect to Forward-Looking Statements
This report contains forward-looking statements that reflect Toyota's plans and expectations.
Marketing Efforts 70.0 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.
Effects of Changes in Exchange Rates 370.0
These factors include, but are not limited to: (i) changes in economic conditions, market demand, and the competitive environment affecting
Cost Reduction Efforts 55.0 the automotive markets in Japan, North America, Europe, Asia and other markets in which Toyota operates; (ii) fluctuations in currency
exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro, the Australian dollar, the Canadian dollar
and the British pound, fluctuations in stock prices, and interest rates fluctuations; (iii) changes in funding environment in financial markets
From Engineering 35.0
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
From Manufacturing and Logistics 20.0 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
Increase or Decrease in Expenses and Expense protection, vehicle emissions and vehicle fuel economy, as well as changes in laws, regulations and government policies that affect Toyota's
Reduction Efforts
-225.0
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
Other -82.5 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
(Changes in Operating Income) 187.5 information technologies, as well as information security; (xiii) fuel shortages or interruptions in electricity, transportation systems, labor
strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases
materials, components and supplies for the production of its products or where its products are produced, distributed or sold; (xiv) the
Non-operating Income -35.8 impact of natural calamities, epidemics, political and economic instability, fuel shortages or interruptions in social infrastructure, wars,
Share of Profit (Loss) of Investments Accounted terrorism and labor strikes, including their negative effect on Toyota's vehicle production and sales; (xv) the impact of climate change and the
for Using the Equity Method -28.4 transition towards a low-carbon economy; and (xvi) the ability of Toyota to hire or retain sufficient human resources.
A discussion of these and other factors which may affect Toyota's actual results, performance, achievements or financial position is contained
Income tax expense, Net Income Attributable to in Toyota's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.
Non-controlling Interests -129.7
(Changes in Net Income
Attributable to Toyota Motor Corporation) 21.9

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

Supplemental 3