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1、1 1FY2023 Financial Results May 10,2023Toyota Motor CorporationLEXUS RZ450e2 2Cautionary Statement with Respect to Forward-Looking Statements and Caution Concerning Insider TradingThis presentation contains forward-looking statements that reflect Toyotas plans and expectations.These forward-looking

2、statements are not guarantees of future performance and involve known and unknown risks,uncertainties and other factors that may cause Toyotas actual results,performance,achievements or financial position to be materially different from any future results,performance,achievements or financial positi

3、on 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)

4、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),stock prices and interest rates;(iii)changes in funding environment in financial markets and increased competiti

5、on in the financial services industry;(iv)Toyotas ability to market and distribute effectively;(v)Toyotas 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

6、markets in which Toyota operates that affect Toyotas 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

7、,regulations and government policies that affect Toyotas 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)Toyotas ability

8、 to timely develop and achieve market acceptance of new products that meet customer demand;(ix)any damage to Toyotas brand image;(x)Toyotas reliance on various suppliers for the provision of supplies;(xi)increases in prices of raw materials;(xii)Toyotas reliance on various digital and information te

9、chnologies,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 t

10、he 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 Toyotas

11、 vehicle production and sales;and(xv)the impact of climate change and the transition towards a low-carbon economy.A discussion of these and other factors which may affect Toyotas actual results,performance,achievements or financial position is contained in Toyotas annual report on Form 20-F,which is

12、 on file with the United States Securities and Exchange Commission.Caution concerning Insider TradingUnder Japanese securities laws and regulations(the Regulations),subject to certain exceptions,any person who receives certain material information relating to the business,etc.of Toyota which may be

13、contained in this document is prohibited from trading in Toyotas shares or certain other transactions related to such shares(as set forth in the Regulations)until such material information is deemed to be made public.Under the Regulations,material information is deemed to be made public when(i)such

14、material information is notified to a stock exchange and is disclosed by ways of electromagnetic means as prescribed by the ordinance of the Cabinet Office(posting on the TDnet(Timely Disclosure Network)information service)or(ii)twelve(12)hours have elapsed since a listed company,such as Toyota,disc

15、losed such material information to at least two(2)media sources as prescribed by the Regulations.3 3FY2023 Results：Operating income 2 trillion 725 billion yenSummaryWhile production plans fluctuated greatly due to the effects of tight semiconductor supplies,natural disasters,andCOVID-19,etc.,dealers

16、,suppliers and production sites have worked hard,leading to an increase of sales volume in all regions year on year.Although operating income decreased compared to the previous fiscal year due to the impact of such things as soaring material prices,the actual results exceeded the previous forecast d

17、ue to our continuous efforts toimprove our profit structure.FY2024 Forecast：Operating income 3 trillion yen(increase in revenue and profit)We expect an increase in sales volume in all regions and production volume of 10.1 million,due to such factors as the effects of improvement in semiconductor sup

18、ply and efforts of production sites.Continue to both advance our activities towards carbon neutrality and improve our profit structure.We will continue to invest in growth and promote activities to“Change the future of cars”.Return to ShareholdersDividends：”Increase dividends stably and continuously

19、”In order to reward our long-term shareholders,we will focus more on dividends.Year-end dividend will be 35 yen per share(+7 yen)and total annual dividends will be 60 yen (+8 yen).Share repurchases：”Conduct flexibly taking into account our share price levels etc.”Maximum of 150 billion yen(equivalen

20、t to interim repurchases)4 4FY2023 Financial Performance5 5Consolidated Vehicle SalesReference(retail)21.4-22.3YoY22.4-23.31,352 1,565 1,543 1,751 1,017 1,030 2,394 2,407 1,924 2,069 02,0004,0006,0008,00010,000115.8113.5101.3100.5107.5107.28,230(thousands of vehicles)JapanN.AmericaEuropeAsiaOtherCen

21、tral and South America,Oceania,Africa,The Middle East,etc.Toyota and Lexus Vehicle Sales9,5129,610101.0%Electrified Vehicle%2,7032,849105.4%HEV2,5652,720106.0%PHEV1168875.6%BEV1638 230.2%FCEV5364.1%Total Retail Vehicle Sales10,38110,558101.7%28.4%29.6%8,8226 6Consolidated Financial SummarySales Reve

22、nues31,379.537,154.2+5,774.7Operating Income2,995.62,725.0-270.6Margin9.5%7.3%Other Income994.8943.7-51.1Share of Profit(Loss)of InvestmentsAccounted for Using the Equity Method560.3643.0+82.7Income before Income Taxes3,990.53,668.7-321.7Net Income Attributable to Toyota Motor Corporation2,850.12,45

23、1.3-398.7Margin9.1%6.6%FOREX RatesUS$112 yen135 yen+23 yen131 yen141 yen+10 yen*Regarding Japan:278.6(-26.7 year on year),China:305.0(+70.6 year on year),Other:59.3(+38.7 year on year)(billions of yen)*21.4-22.322.4-23.3Change7 7Analysis of Consolidated Operating Income2,995.6CostReductionEffortsInc

24、rease or Decrease in Expenses and Expense Reduction Efforts*3Other*4-1,290.0-415.6+1,280.021.4-22.322.4-23.3(billions of yen)Operating Income(-270.6)Effects ofFOREX Rates*1Marketing Efforts*2112 yen/US$131 yen/135 yen/US$141 yen/+680.0Excluding the overall impact of foreign exchange rates and swap v

25、aluation gains/losses,etc.：-1,135.0-525.02,725.0*1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)+1,200.0Translational FOREX ImpactConcerning Overseas Subsidiaries+90.0Volume,Model Mix+40.0Labor Cost-135.0Valuation Gains/Losses from Swaps,etc.-229.2-US$+1,000.0Other-10.0Financia

26、l Services-75.0Depreciation Expenses-30.0End of Vehicle Production in Russia-99.5-+75.0(Translational FOREX Impact of Fiscal Year-end Balance of Provisions in Foreign Currencies,etc.)Other+715.0R&D Expenses-120.0-Other+125.0Expenses,etc.-240.0Other-86.9Which includes:Soaring Materials Prices-1,545.0

27、Cost Reduction+255.08 8Geographic Operating Income1,425.5532.5171.7657.1230.71,902.5 74.6 56.6 712.8 267.5 1,924 2,069 2,394 2,407 1,017 1,030 1,543 1,751 1,352 1,565 8.9%MarginJapanN.AmericaEuropeAsiaOtherOperating Income including Valuation Gains/Losses relating to Swaps,etc.(billions of yen）21.4-

28、22.3 22.4-23.31,423.41,901.4 565.7-74.7162.957.4672.3 714.4238.1231.3 21.4-22.3 22.4-23.321.4-22.3 22.4-23.321.4-22.3 22.4-23.321.4-22.3 22.4-23.37.9%4.8%4.4%-457.8+477.0-115.0+55.7+36.710.1%（107.5%）（100.5%）（101.3%）（113.5%）（115.8%)Operating Income(billions of yen)(excluding Valuation Gains/Losses re

29、lating to Swaps,etc.)Consolidated Vehicle Sales(thousands of vehicles)Incl.China(excl.investments accounted for using the equity method of associates and joint ventures)10.8%0.5%8.9%7.7%1.3%9 9China Business/Financial Services611.9 621.7 234.3 305.0 290.8 194.5 657.0437.521.4-22.322.4-23.321.4-22.32

30、2.4-23.3（98.0）-96.2Effects ofFOREX Rates and Marketing Activities,etc.(Ref.)China BusinessOperating Income of Subsidiaries(billions of yen)Share of Profit of Investments Accounted for Using the EquityMethod ofAssociates and Joint Ventures(billions of yen)Toyota and Lexus Vehicle Retail Sales(thousan

31、ds of vehicles)Financial Services Operating Income(billions of yen)Excluding Valuation Gains/Losses relating to Swaps,etc.Operating Income including Valuation Gains/Losses relating to Swaps,etc.(billions of yen)+70.6Cost Reduction Efforts,etc.+9.7Effects ofFOREX Rates,etc.1,915 1,876 1010Shareholder

32、 Return1111Dividends202021242524242728350102030405060Special Dividend:1yenYear-end Dividend*Interim Dividend*19.320.321.322.3Full YearInterimTotal Amount of Dividends(billions of yen)286.9626.8278.9610.8293.5671.0332.4718.219.3：US GAAP20.3-23.3：IFRS444448526023.3342.1816.9(yen)+4+4+8 Year-end divide

33、nd is 35 yen per share.Total full-year dividends are 60 yen per share(+8 yen YoY).Revised the policy to“increase dividends stably and continuouslyin order to reward long-term shareholders.Total Amount of Dividends(billions of yen)A five-for-one stock split of shares of our common stock was conducted

34、 on October 1,2021.Calculated on the assumption that the split was made at the beginning of the fiscal year ended March 2019.1212Share Repurchases549.9199.9249.9435.6299.9636.7610.8 671.0718.2816.92,499 1,999 1,499 1,499 999 2,999 2,499 1,856 1,500 02,0004,0006,00019.320.321.322.31,186.7810.8921.01,

35、153.81,116.9maxmax23.3Amount of Share Repurchases（billions of yen）Interim RepurchasesYear-end Repurchasesmax（Resolved in March)Total Amount of Dividends*Share RepurchasesTotal Shareholder Return*Including dividends on first series Model AA class shares(Excluding dividends on first series Model AA cl

36、ass shares from fiscal year ended March 2020 as a result of applying IFRS)Revised the policy to Conduct flexibly taking into account our share price levels etc.Set aside 150 billion yen as the maximum limit of year-end repurchase(Considering the current share price level,set aside equal to the inter

37、im.)19.3：US GAAP20.3-23.3：IFRSNo year-endrepurchasesNo interimrepurchases1313FY2024 Financial Forecasts14146,343 6,850 2,787 3,250 02,0004,0006,0008,00010,000Production Volume Forecast(Toyota&Lexus)9,13010,100JapanOverseasFY2023 Actual22.4-23.3FY2024 Forecast23.4-24.35,437 5,264 5,809 3,304 2,919 2,

38、761 19.4-20.320.4-21.321.4-22.38,5708,1838,741110.6%116.6%108.0%Compared toprevious FY(thousands of vehicles)1515689756900800850760811867771803Jan.ActualFeb.ActualMar.ActualApr.PlanMay Plan Together with our suppliers,we have been working on,with respects to semiconductors,negotiations and examinati

39、on of alternatives in light of supply risks in the future,as well as on promoting improvements aimed at improving operating rates at factories.Since March,we have been able to continue high-level production while prioritizing safety and quality.Promote improvements together with suppliers in order t

40、o further increase production volume.【CY2023 Monthly Production Volume】（thousands of vehicles）Previous record high production volumeFY2024 Production Forecast(10.1 million units)1616FY2024 Forecast:Consolidated Vehicle Sales1,565 1,620 1,751 1,870 1,030 1,130 2,407 2,660 2,069 2,320 02,0004,0006,000

41、8,00010,0008,822FY23 Results22.4-23.3FY24 Forecast23.4-24.39,600108.8%112.1%106.8%103.5%110.5%109.7%YoY(thousands of vehicles)JapanN.AmericaEuropeAsiaOtherCentral and South America,Oceania,Africa,The Middle East,etc.Reference(retail)Toyota and Lexus Vehicle Sales9,61010,400108.2%Electrified Vehicles

42、%2,8493,843134.9%HEV2,7203,497128.6%PHEV88137155.6%BEV38202535.6%FCEV38223.0%Total Retail Vehicle Sales10,55811,380107.8%29.6%37.0%1717FY2024 Forecast:Consolidated Financial SummaryFY2023 Results22.4-23.3FY2024 Forecast23.4-24.3ChangeSales Revenues37,154.238,000.0+845.8Operating Income2,725.03,000.0

43、+275.0Margin7.3%7.9%Other Income943.7690.0-253.7Share of Profit(Loss)of InvestmentsAccounted for Using the Equity Method643.0690.0+47.0Income before Income Taxes 3,668.73,690.0+21.3Net Income Attributable toToyota Motor Corporation2,451.32,580.0+128.7Margin6.6%6.8%FOREX RatesUS$135 yen125 yen-10 yen

44、141 yen135 yen-6 yen（billions of yen）1818Analysis of FY2024 Forecast:Consolidated Operating Income2,725.0CostReductionEfforts*2Increase or Decrease inExpenses and Expense Reduction Efforts*4Other*5-150.0+275.0-875.0Operating Income(+275.0)Effects ofFOREX Rates*1Effects of Marketing Activities*3135 y

45、en/US$141 yen/125 yen/US$135 yen/+1,285.0Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc：+875.0-260.03,000.022.4-23.3Forecast23.4-24.3(billions of yen)*1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)-930.0Translational FOREX ImpactConc

46、erning Overseas Subsidiaries-100.0Volume,Model Mix+865.0Labor Cost-110.0Valuation Gains/Losses from Swaps,etc.+110.0-US$-520.0Other+155.0Financial Services-105.0Depreciation Expenses-90.0End of Vehicle Production in Russia+99.5-55.0(Translational FOREX Impact of Fiscal Year-end Balance of Provisions

47、 in Foreign Currencies,etc.)Other+525.0R&D Expenses-20.0-Other-355.0Expenses,etc.-40.0Other+65.5Which includes:Soaring MaterialsPrices-510.0Cost Reduction+360.019192,399.2-1,650.0-189.2+760.0Operating income(+600.8)+2,615.0-935.03,000.0Before COVID-1919.4-20.3Forecast23.4-24.3 As an effect of our lo

48、ng-standing product-centered and region-centered approach,we became able to offsetthe impact of soaring materials costs through TPS/cost reductions and marketing efforts,as well as to create a foundation that will allow us to steadily increase investment in growth.Be prepared for changes in the busi

49、ness environment by keeping our antennas high and carefully managing risksWhich includes:Soaring Materials Prices-2,735.0Cost Reduction+1,085.0(billions of yen)Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc.：+30.0CostReductionEffortsEffects ofFOREX RatesIn

50、crease or Decrease in Expenses and Expense Reduction EffortsOtherMarketing EffortsProfit Structure2020(Ref.)Consolidated Vehicle Sales(3 months)Toyota and Lexus Vehicle Sales2,3572,399101.8%Electrified Vehicles%720842117.0%HEV689801116.3%PHEV252390.3%BEV417404.9%FCEV1165.4%Total Retail Vehicle Sales

51、2,5942,669102.9%22.1-3YoY23.1-3366 378 425 458 257 273 589 555 498 668 05001,0001,5002,0002,500103.3%107.8%106.3%94.1%134.2%109.2%2,1342,331（thousands of vehicles）EuropeAsiaOtherJapanN.AmericaCentral and South America,Oceania,Africa,The Middle East,etc.Reference(retail)30.5%35.1%2121(Ref.)Consolidat

52、ed Financial Summary(3 months)22.1-3 23.1-3ChangeSales Revenues8,112.49,690.2+1,577.7Operating Income463.8626.9+163.0Margin5.7%6.5%Other Income289.1172.5-116.5Share of Profit(Loss)of InvestmentsAccounted for Using the Equity Method144.8168.3+23.5Income before Income Taxes752.9799.4+46.4Net Income At

53、tributable to Toyota Motor Corporation533.8552.2+18.4Margin6.6%5.7%FOREX RatesUS$116 yen132 yen+16 yen130 yen142 yen+12 yen(billions of yen)*Regarding Japan:67.4(+16.2 year on year),China:82.0(0 year on year),Other:18.8(+7.3 year on year)2222(Ref.)Analysis of Consolidated Operating Income(3 months)*

54、1 Details*2 Details*3 Details*4 DetailsTransactional(Imports/Exports)+185.0Translational FOREX ImpactConcerning Overseas Subsidiaries0.0Volume,Model Mix+100.0Labor Cost-15.0Valuation Gains/Losses from Swaps,etc.-4.6-US$+160.0Other+50.0Financial Services-5.0Depreciation Expenses+10.0End of Vehicle Pr

55、oduction in Russia+4.4-+20.0(Translational FOREX Impact of Fiscal Year-end Balance of Provisions in Foreign Currencies,etc.)Other+285.0R&D Expenses-55.0-Other+5.0Expenses,etc.-50.0Other+8.2463.8Cost ReductionEffortsIncrease or Decrease inExpenses and Expense Reduction Efforts*3Other*4-350.0+8.0+235.

56、022.1-3Operating Income(+163.0)Effects ofFOREX Rates*1MarketingEfforts*2116 yen/US$130 yen/132 yen/US$142 yen/+380.0Excluding the overall impact of foreign exchange rates and swap valuation gains/losses,etc.：-110.0626.9(billions of yen)23.1-3-80.0Which includes:Soaring Materials Prices-435.0Cost Red

57、uction+85.02323(Ref.)Geographic Operating Income(3 months)219.528.534.4167.136.9357.3 25.3 42.2 158.2 63.9 498 668 589 555 257 273 425 458 366 378 Consolidated Vehicle Sales(thousands of vehicles)5.4%7.4%marginJapanN.AmericaEuropeAsiaOtherOperating Income including Valuation Gains/Losses relating to

58、 Swaps,etc.(billions of yen）22.1-323.1-3217.8360.113.114.226.540.7172.7 154.038.255.322.1-323.1-322.1-323.1-322.1-323.1-322.1-323.1-34.4%3.5%0.8%1.0%3.5%-3.1+137.7+7.8-8.9+27.09.08.3%7.7%（134.2%）（94.1%）（106.3%）（107.8%）（103.3%）Operating Income(billions of yen)(excluding Valuation Gains/Losses relatin

59、g to Swaps,etc.)Incl.China(excl.investments accounted for using the equity method of associates and joint ventures)2424(Ref.)China Business/Financial Services(3 months)119.8 136.1 82.0 82.0 70.7 36.4(Ref.)China BusinessOperating Income of Chinese Subsidiaries(billions of yen)Share of Profit of Inves

60、tments Accounted for Using the EquityMethod of Chinese Associates and Joint Ventures(billions of yen)Financial Services Operating Income(billions of yen)101.8113.522.1-323.1-322.1-323.1-3445 380（85.5%）-34.20+16.3Toyota and Lexus Vehicle Retail Sales(thousands of vehicles)Excluding Valuation Gains/Lo

61、sses relating to Swaps,etc.Operating Income including Valuation Gains/Losses relating to Swaps,etc.(billions of yen)2525(Ref.)Transition of Financial Performance1,860.01,605.81,372.31,293.21,343.020.321.322.323.324.31,250.01,185.0803.3876.91,007.28,955 7,646 8,230 8,822 9,600 20.321.322.323.324.3718

62、.2816.9610.8671.020.321.322.323.39,027.76,901.08,051.420.321.322.323.329.8 27.2 31.3 37.2 38.0 20.321.322.323.324.33.74.0 3.6 3.3 3.3 8.0 8.1 9.5 7.3 7.9 6.88.39.1 6.66.82,451.3 2,580.02,036.12,245.22,850.120.321.322.323.324.33,000.02,399.22,197.72,995.62,725.020.321.322.323.324.31,241.6 1,240.01,11

63、0.31,090.41,124.220.321.322.323.324.3(thousands of vehicles)Consolidated Vehicle Sales(trillions of yen)Sales Revenues(billions of yen)Operating IncomeNet Income Attributable toToyota Motor CorporationOperating Margin(%)(billions of yen)Net Margin(%)Dividend per Share(yen)*3Total Liquid Assets*1Tota

64、l Shareholder Return(billions of yen)Ratio to Sales Revenues(%)Depreciation Expenses(billions of yen)(billions of yen)R&D Expenses*4Capital Expenditures(billions of yen)ShareRepurchaseDividendInterest-Bearing Debt*2Net Liquid Assets*1 Cash and cash equivalents,time deposits,public and corporate bond

65、s and its investment in monetary trust funds,excluding in each case those relating to financial services.*4 R&D activity related expenditures incurred during the reporting period8,341.3Forecast 11,313.78,602.611,579.41,153.81,116.9810.8921.0*2 Not including lease liabilities10,517.344485260*3 Divide

66、nds per common share on a post-stock split(a five-for-one stock split of shares of our common stock that was conducted on October 1,2021)basis 2626(Ref.)FY2024 Forecast:Vehicle Production and Retail Sales生産Vehicle Production*Japan2,7873,250+463Overseas6,3436,850+507Total9,13010,100+970FY23 Results22

67、.4-23.3FY24 Forecast23.4-24.3Change10,55811,380+822Toyota&LexusTotal Retail Vehicle Sales*Including vehicles by Toyotas unconsolidated entities（thousands of vehicles）*RetailVehicleSales*Japan1,4071,650+243Overseas8,2038,750+547Total9,61010,400+7902727(Ref.)Definitions of Consolidated and Retail Vehi

68、cle SalesDaihatsu-and Hino-brand vehiclesNumber of vehicles produced for wholesale by Toyota Motor Corporation and its consolidated subsidiariesNumber of vehicles produced for wholesale by Toyotas unconsolidated entities(e.g.joint ventures in China,etc.)*There are a limited number of exceptional cases where sales are made other than in accordance with the flowchart above.Consolidated Vehicle SalesDistributors or Dealers outside consolidationToyota and Lexus Vehicle SalesTotal Retail Vehicle SalesCustomers