Toyota Fy 2009 Q2 Financial Results

1. FY2009 Second Quarter
Financial Results
--prepared in accordance with U.S.GAAP-
prepared U.S.GAAP-
Toyota Motor Corporation
November 6, 2008

2. Cautionary Statement with Respect to Forward-Looking Statements
2
This presentation 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: (i) changes in economic
conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan,
North America, Europe 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; (iii) Toyota’s ability to realize production efficiencies and to implement
capital expenditures at the levels and times planned by management; (iv) 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 trade, environmental protection, vehicle
emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government
policies that affect Toyota’s other operations, including the outcome of future litigation and other legal
proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely
develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in
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.
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.

3. Caution concerning Insider Trading 3
Under Japanese securities laws and regulations (the quot;Regulationsquot;), subject to certain exceptions, any person
who receives certain material information relating to the business, etc., of Toyota which may be contained in this
document is prohibited from trading in Toyota's 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 material information 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 and ED-NET (Electronic Disclosure Network) information service ) or
(ii) twelve (12) hours have elapsed since a listed company, such as Toyota, disclosed such material information
to at least two (2) media sources as prescribed by the Regulations.

4. Takahiko Ijichi
Senior Managing Director

5. FY2009 First Half
-For the 6 months ended Sept.30, 2008-
【Financial Results】

6. Consolidated Vehicle Sales 6
(thousands of vehicles)
5,000
4,301 4,250 (-51)
4,000
(+77)
711 788
Other
452 (+58)
510 Central and
3,000 South America,
635 (-56) Oceania,
579
Africa,
The Middle
East etc.
2,000
(-140)
1,497 1,357 Asia
Europe
1,000
(+10) N. America
1,006 1,016
Japan
0
change
'07/4-9 '08/4-9
[-62]
[4,701] [4,639]
-Figures in square brackets show total retail vehicle sales in thousands

7. Consolidated Financial Summary 7
(billions of yen)
FY2009 First FY2008 First Change
Half (’08/4-9) Half (’07/4-9)
Net Revenues 13,012.2
12,190.4 -821.8 -6.3%
Operating
-690.1
582.0 1,272.1 -54.2%
Income
Income before income taxes,
636.4 -725.8
1,362.2 -53.3%
minority interest and equity in
earnings of affiliated companies
Net Income 493.4 -449.0
942.4 -47.6%
FOREX Rates $
-13 yen
119 yen
106 yen
€ + 1 yen
162 yen
163 yen

8. Analysis of Consolidated Net Income 8
(billions of yen)
Net Income (-449.0)
Operating Income (-690.1)
Excluding: valuation profit in accounting
942.4 on interest rate swaps (-760.8)
Valuation
Equity in
Increases Effects of Non-
Cost Profit in Income
Earnings of
in Marketing operating
Reduction Accounting
Tax, etc
Affiliated
Expenses Activities Income
on Interest
Efforts Companies +277.8
Rate Swaps
-40.0
-330.8 -90.0 -35.7 -1.0
+70.7
493.4
Effects of
FOREX
Rates
-300.0
’08/4-9
’07/4-9 <Details of Increases in Expenses>
Labor Costs ............... Depreciation and .......... -13.2
-45.4
CAPEX-related Costs
R&D Expenses ......... -31.4 Others............................ -240.8

9. Geographic Operating Income:Japan (FY2009 First Half) 9
<Consolidated Vehicle Sales+Exported Vehicles* (thousands of vehicles)>
2,319
2,285
(billions of yen)
773.3
800
600
Alphard
400 321.7
200
-451.6
Vellfire
0
'07/4-9 '08/4-9
- ・タンドラなどの増販により、米国販売（暦年）は12年連続新記録更新。
Profit declined due to factors such as foreign exchange rates of the yen
appreciating against the U.S. dollar
・会計上の評価損益（金利スワップ評価損益）の影響： △238億円
- New car sales in Japan and exports to Russia and the Middle East remained strong
* Overseas shipment volume for Toyota only

10. Geographic Operating Income: North America (FY2009 First Half)
10
<Consolidated Vehicle Sales (thousands of vehicles)>
1,497 1,357
(billions of yen)
300
263.0
Excludes Valuation Profit/Loss
in Accounting on Interest
200
Rate Swaps
100
-297.6 Yaris
’08/4-9
0
'07/4-9 '08/4-9
-34.6
Valuation Profit/Loss in
Valuation Profit/Loss in
-8.9 68.9
Accounting on Interest Rate
Accounting on Interest Rate
Swaps
Swaps
Venza
Including Valuation Profit/Loss in
Including Valuation Profit/Loss in
254.1 34.3
Accounting on Interest Rate
Accounting on Interest Rate
Swaps
Swaps
・タンドラなどの増販により、米国販売（暦年）は12年連続新記録更新。
- Decrease in profit due to slowdown in the U.S. market and the market shift to compact cars
・会計上の評価損益（金利スワップ評価損益）の影響： △238億円
- Toyota’s share in the U.S. market: 17%, a record high for the first half.

11. Geographic Operating Income: Europe (FY2009 First Half)
11
<Consolidated Vehicle Sales (thousands of vehicles)>
635 579
(billions of yen)
80
68.3
60
iQ
40
20
8.7
-59.6
0
Avensis
'07/4-9 '08/4-9
- Sales volume decreased due to slowdowns in Western European markets
- Sales in Eastern European markets such as Russia, remained strong

12. Geographic Operating Income: Asia (FY2009 First Half) 12
<Consolidated Vehicle Sales (thousands of vehicles)>
510
452
(billions of yen)
150 137.2
116.7
120
Avanza
90
60
+20.5
30
Innova
0
'07/4-9 '08/4-9
- Increased sales of the Corolla, fully-remodeled at the beginning of this year
・旺盛な需要に応えたIMVの能増などにより大きく台数が増加。
- Favorable sales of models such as the Avanza and the Innova,
・中国事業の好調な推移により収益が拡大。
mainly in Indonesia

13. Central and South America,
Geographic Operating Income: Oceania, Africa (FY2009 First Half)
13
<Consolidated Vehicle Sales (thousands of vehicles)>
788
711
(billions of yen)
100
79.1
80 71.7
60
Hilux VIGO
40
+7.4
20
0
'07/4-9 '08/4-9 Corolla Flex
- ・全ての地域で販売台数が増加。
Profit increased as a result of increased sales volume of the new Corolla
in Brazil
・中南米のIMV、豪州カムリの好調な販売。

14. Business Segment: Financial Services (FY2009 First Half)
14
(billions of yen)
100
86.2
Excludes Valuation Profit/Loss
in Accounting on Interest
80
Rate Swaps
60
44.9
40
20
-41.3
0
'07/4-9 '08/4-9
Valuation Profit/Loss in
Valuation Profit/Loss in
Accounting on Interest Rate
Accounting on Interest Rate -8.4 62.3
Swaps
Swaps
Including Valuation Profit/Loss
Including Valuation Profit/Loss
in Accounting on Interest Rate 77.8 107.2
in Accounting on Interest Rate
Swaps
Swaps
- Decline in income due to increased allocation to reserves for bad debts and
・会計上の評価損益（金利スワップ評価損益）の影響： △126億円
・全ての地域で販売台数が増加。
residual value loss reserves
・中南米のIMV、豪州カムリの好調な販売。
・従来以上の与信管理や回収体制の強化を実行。
- Lending margins continued to expand

15. Equity in Earnings of Affiliated Companies (FY2009 First Half)
15
(billions of yen)
200.0
145.1 144.1
150.0
100.0 Camry
-1.0
50.0
0.0
Corolla
'07/4-9 '08/4-9
- ・全ての地域で販売台数が増加。 of affiliated companies maintained
The same level of equity in earnings
・中国合弁事業体・国内グループ会社を中心に、好調に推移。
from the same period last year
・中南米のIMV、豪州カムリの好調な販売。

16. Unconsolidated Financial Summary (Japan GAAP) 16
(billions of yen)
FY2009 First FY2008 First
Change
Half(’08/4-9) Half(’07/4-9)
Net Sales -87.9
5,737.1
5,649.2 -1.5%
Operating Income -357.2
609.7
252.5 -58.6%
-257.2
852.4
595.2 -30.2%
Ordinary Income
-129.7
601.9
472.2 -21.5%
Net Income

17. Analysis of Unconsolidated Net Income 17
(billions of yen)
Net Income (-129.7)
Operating Income (-357.2)
601.9 Income
Tax, etc
Non-
Increases Effects of
Cost +127.5
operating
in
472.2
Marketing
Reduction
Income
Expenses Activities
Efforts
+100.0
-97.2 -20.0 +60.0
Effects of
FOREX
Rates
-300.0
'07/4-9 '08/4-9
<Details of Increases in Expenses>
R&D Expenses ......... -61.5
Others ......
-29.7
Labor Costs ................ -14.1
Depreciation and
CAPEX-related Costs ..........+ 8.1

18. Shareholder Return ( Interim Dividend) 18
Interim Dividend: 65 yen per share
203.7 billion yen
Total Amount of Payout :
Consolidated Payout Ratio: 41.4% (change: +19.4%)
140
120
90 75
70
65
55
45
36 40
28 25 65 65
20 50
15 35
25
20
16
13
'01/4-'02/3 '02/4-'03/3 '03/4-'04/3 '04/4-'05/3 '05/4-'06/3 '06/4-'07/3 '07/4-'08/3 '08/4-'09/3
Interim Dividend Annual Dividend

19. FY2009
【Forecasts for FY2009】

20. FY2009 Forecasts: Consolidated Vehicle Sales 20
8,913
(thousands of vehicles)
(-673)
8,240
1,527
8,000
(+13)
1,540
7,000 956 Other
(+34)
990 Central and
6,000
1,284 South America,
Oceania,
(-74)
1,210 Africa,
5,000
The Middle
East, etc.
4,000
2,958
(-538) Asia
2,420
3,000
Europe
2,000 N. America
(-108) Japan
2,188 2,080
1,000
0
'07/4-'08/3 '08/4-'09/3
[FY2008 Actual] [FY2009 Prospects]
*Figures in parenthesis represent year-on-year change

21. FY2009 Consolidated Forecasts 21
(billions of yen)
FY2009 FY2008
Change
(’08/4-’09/3) (’07/4-’08/3)
23,000.0 26,289.2
Net Revenues -3,289.2 -12.5%
600.0 2,270.3 -1,670.3
Operating Income -73.6%
Income before income taxes,
640.0 2,437.2 -1,797.2 -73.7%
minority interest and equity in
earnings of affiliated companies
550.0 1,717.8 -1,167.8
Net Income -68.0%
103 yen* 114 yen -11 yen
$
FOREX Rates
€ 146 yen* 162 yen -16 yen
*FOREX rates assumptions for the second half: ¥ / $=100, ¥ / €=130

22. Analysis of FY2009 Consolidated Forecasts: Operating Income
22
(billions of yen)
Operating Income
FY2008 Actual Results
2,270.3
(’07/4 - ’08/3)
- 690.0
Effects of FOREX Rates
Effects of
-610.0
Marketing Activities
-60.0
Cost Reduction Efforts
-310.3
Increases in Expenses
Total -1,670.3
FY2009 Consolidated
600.0
Forecasts(’08/4 - ’09/3)

23. FY2009 Consolidated Forecasts :CAPEX, Depreciation, R&D
23
(billions of yen)
Capital Depreciation
R&D Expenses
Expenditures Expenses
Consolidated 1,400.0 1,100.0 920.0 (-38.8)
(-80.2) (+57.6)
Japan 820.0 690.0
(-43.1) (+76.9)
N. America 320.0 210.0
(-14.3) (+6.5)
Europe 140.0 100.0
(+24.1) (-1.0)
Asia 60.0 60.0
(-48.4) (-21.2)
Others 60.0 40.0
(+1.5) (-3.6)
Figures in parenthesis represent year-on-year change

24. FY2009 Unconsolidated Forecasts(Japan GAAP) 24
(billions of yen)
FY2009 FY2008
Change
(’08/4-’09/3) (’07/4-’08/3)
10,600.0 12,079.2
Net Sales -12.2%
-1,479.2
140.0 1,108.6
Operating Income -87.4%
-968.6
600.0 1,580.6
Ordinary Income -62.0%
-980.6
510.0 1,138.1
Net Income -55.2%
-628.1

25. FY2009 Toyota’s Operations Forecasts 25
FY2009 FY2008
(’08/4-’09/3) (’07/4-’08/3)
(thousands of vehicles) (thousands of vehicles)
3,850 4,264
Japan
Automotive
Production
4,070 4,424
Overseas
Total 7,920 8,688
1,470 1,595
Sales (Japan)
Exports 2,450 2,708
Sales (Overseas) 6,580 6,923
4,800 Units 4,622 Units
Housing Sales

26. Measures in response to the current crisis 26
1. Secure profits for FY2009 and FY2010
(⇒To reduce total costs and maximize revenues)
Commencement of activities by the newly-established
“ Emergency Profit Improvement Committee”
2. Thorough review of production capabilities by
reexamining aspects such as the timing and
scale of new projects

27. Summary 27
1. Measures in response to the current crisis
2. Strategies for mid-to-long term growth
(1) Accelerate our hybrid vehicle strategy
(2) Reinforce cost reduction for compact models
3. Solid balance sheet
Toyota will respond appropriately to the changes in
current market conditions, while taking steady actions for
future growth

28. FY2009 Second Quarter
Financial Results
-prepared in accordance with U.S.GAAP-
Toyota Motor Corporation
November 6, 2008