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6-K 1 d552715d6k.htm REPORT OF FOREIGN PRIVATE ISSUER REPORT OF FOREIGN PRIVATE ISSUER

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of November, 2023

Commission File Number 001-14948

Toyota Motor Corporation

(Translation of Registrant’s Name Into English)

1, Toyota-cho, Toyota City,

Aichi Prefecture 471-8571,

Japan

(Address of Principal Executive Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Material Contained in this Report:

I.	English translations of the original Japanese-language documents, as filed with the Tokyo Stock Exchange on November 1, 2023, with respect to the registrant’s results of operations for the second quarter of FY2024 ended September 30, 2023.

II.	English translation of the Notice Concerning Distribution of Interim Dividends from Surplus, as filed by the registrant with the Tokyo Stock Exchange on November 1, 2023.

III.	English translation of the Notice Concerning the Determination of Matters Relating to the Repurchase of Shares of Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 1, 2023.

IV.	English translation of the Notice Concerning Amendments to Forecasts for FY2024, as filed by the registrant with the Tokyo Stock Exchange on November 1, 2023.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Toyota Motor Corporation

By:	/s/ Yoshihide Moriyama
	Name:	Yoshihide Moriyama
	Title:	General Manager,
		Capital Strategy & Affiliated Companies Finance Division

Date: November 1, 2023

EX-99.1 2 d552715dex991.htm FY2024 SECOND QUARTER FINANCIAL SUMMARY FY2024 Second Quarter Financial Summary Table of Contents

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with International Financial Reporting Standards)

FY2024 Second Quarter

(April 1, 2023 through September 30, 2023)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

Table of Contents

FY2024 Second Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with International Financial Reporting Standards)

English translation from the original Japanese-language document

November 1, 2023


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
Filing date of quarterly securities report	:	November 10, 2023
Payment date of cash dividends	:	November 22, 2023
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 FY2024 First Half (April 1, 2023 through September 30, 2023)

(1)	Consolidated financial results (For the six months ended September 30)


	(% of change from previous first half)
	Sales revenues				Operating income				Income before income taxes				Net income				Net income attributable to Toyota Motor Corporation				Comprehensive income
	Million yen		%		Million yen		%		Million yen		%		Million yen		%		Million yen		%		Million yen		%
FY2024 first half		21,981,617		24.1		2,559,294		124.2		3,521,525		92.0		2,647,521		117.1		2,589,428		121.1		4,245,386		73.0
FY2023 first half		17,709,348		14.4		1,141,444		-34.7		1,834,276		-14.4		1,219,556		-22.1		1,171,084		-23.2		2,454,565		31.3


	Earnings per share attributable to Toyota Motor Corporation – Basic		Earnings per share attributable to Toyota Motor Corporation – Diluted
	Yen		Yen
FY2024 first half		191.26		191.26
FY2023 first half		85.42		85.42

(2)	Consolidated financial position


	Total assets		Total shareholders’ equity		Toyota Motor Corporation shareholders’ equity		Ratio of Toyota Motor Corporation shareholders’ equity
	Million yen		Million yen		Million yen		%
FY2024 second quarter		83,661,391		32,852,768		31,893,112		38.1
FY2023		74,303,180		29,264,213		28,338,706		38.1

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
FY2023		—		25.00		—		35.00		60.00
FY2024		—		30.00
FY2024 (forecast)						—		—		—


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

Table of Contents

3.	Forecast of Consolidated Results for FY2024 (April 1, 2023 through March 31, 2024)


	(% of change from FY2023)
	Sales revenues			Operating income			Income before income taxes			Net income attributable to Toyota Motor Corporation			Earnings per share attributable to Toyota Motor Corporation – Basic
	Million yen	%		Million yen	%		Million yen	%		Million yen	%		Yen
Full-year	43,000,000		15.7	4,500,000		65.1	5,550,000		51.3	3,950,000		61.1	292.02


(Note)		Revisions to the forecast of consolidated results since the latest announcement: yes

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)	Changes in accounting policies and changes in accounting estimates

(i)

Changes in accounting policies required by IFRS: 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): FY2024 second quarter 16,314,987,460 shares, FY2023 16,314,987,460 shares

(ii)

Number of treasury stock at the end of each period: FY2024 second quarter 2,801,135,115 shares, FY2023 2,749,807,731 shares

(iii)

Average number of shares issued and outstanding in each period: FY2024 first half 13,539,125,720 shares, FY2023 first half 13,710,052,009 shares

These consolidated financial results are not subject to certified public accountant’s or audit firm’s quarterly review.

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/)

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

TABLE OF CONTENTS


Unaudited Condensed Quarterly Consolidated Financial Statements and Notes to Unaudited Condensed Quarterly Consolidated Financial Statements			2
1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position			2
2. Unaudited Condensed Quarterly Consolidated Statement of Income and Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income			4
3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity			8
4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows			9
5. Going Concern Assumption			10

Supplemental Material for Financial Results for FY2024 Second Quarter

—1—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second 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, 2023			September 30, 2023
Assets
Current assets
Cash and cash equivalents		7,516,966			7,926,063
Trade accounts and other receivables		3,586,130			3,738,439
Receivables related to financial services		8,279,806			9,964,278
Other financial assets		1,715,675			3,494,692
Inventories		4,255,614			4,749,878
Income tax receivable		218,704			182,247
Other current assets		886,885			996,842

Total current assets		26,459,781			31,052,438

Non-current assets
Investments accounted for using the equity method		5,227,345			5,570,443
Receivables related to financial services		16,491,045			19,118,129
Other financial assets		10,556,431			11,185,272
Property, plant and equipment
Land		1,426,370			1,443,141
Buildings		5,464,811			5,718,603
Machinery and equipment		14,796,619			15,847,591
Vehicles and equipment on operating leases		6,774,427			7,383,194
Construction in progress		846,866			1,004,753

Total property, plant and equipment, at cost		29,309,093			31,397,283

Less - Accumulated depreciation and impairment losses		(16,675,119	)		(17,777,602	)

Total property, plant and equipment, net		12,633,974			13,619,681

Right of use assets		491,368			514,696
Intangible assets		1,249,122			1,309,946
Deferred tax assets		387,427			441,902
Other non-current assets		806,687			848,884

Total non-current assets		47,843,399			52,608,953

Total assets		74,303,180			83,661,391

—2—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary


	Yen in millions
	March 31, 2023			September 30, 2023
Liabilities
Current liabilities
Trade accounts and other payables		4,986,309			5,227,888
Short-term and current portion of long-term debt		12,305,639			14,068,253
Accrued expenses		1,552,345			1,599,860
Other financial liabilities		1,392,397			1,560,246
Income taxes payable		404,606			651,446
Liabilities for quality assurance		1,686,357			1,839,034
Other current liabilities		1,632,063			1,958,229

Total current liabilities		23,959,715			26,904,958

Non-current liabilities
Long-term debt		17,074,634			19,330,739
Other financial liabilities		533,710			626,909
Retirement benefit liabilities		1,065,508			1,126,636
Deferred tax liabilities		1,802,346			2,120,186
Other non-current liabilities		603,052			699,195

Total non-current liabilities		21,079,251			23,903,665

Total liabilities		45,038,967			50,808,623

Shareholders’ equity
Common stock		397,050			397,050
Additional paid-in capital		498,728			498,052
Retained earnings		28,343,296			30,747,689
Other components of equity		2,836,195			4,102,743
Treasury stock		(3,736,562	)		(3,852,421	)

Total Toyota Motor Corporation shareholders’ equity		28,338,706			31,893,112

Non-controlling interests		925,507			959,656

Total shareholders’ equity		29,264,213			32,852,768

Total liabilities and shareholders’ equity		74,303,180			83,661,391

—3—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second 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 half ended September 30, 2022			For the first half ended September 30, 2023
Sales revenues
Sales of products		16,363,930			20,383,442
Financial services		1,345,419			1,598,175

Total sales revenues		17,709,348			21,981,617

Costs and expenses
Cost of products sold		14,049,248			16,542,695
Cost of financial services		845,222			1,006,082
Selling, general and administrative		1,673,434			1,873,546

Total costs and expenses		16,567,905			19,422,323

Operating income		1,141,444			2,559,294

Share of profit (loss) of investments accounted for using the equity method		304,623			378,530
Other finance income		197,354			337,941
Other finance costs		(70,350	)		(44,300	)
Foreign exchange gain (loss), net		291,455			299,376
Other income (loss), net		(30,250	)		(9,314	)

Income before income taxes		1,834,276			3,521,525

Income tax expense		614,720			874,004

Net income		1,219,556			2,647,521

Net income attributable to
Toyota Motor Corporation		1,171,084			2,589,428
Non-controlling interests		48,472			58,093

Net income		1,219,556			2,647,521


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted		85.42			191.26

—4—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the first half ended September 30, 2022			For the first half ended September 30, 2023
Net income		1,219,556			2,647,521
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 through other comprehensive income		26,178			376,618
Remeasurements of defined benefit plans		(8,696	)		(5,201	)
Share of other comprehensive income of equity method investees		(80,105	)		178,815

Total of items that will not be reclassified to profit (loss)		(62,622	)		550,232

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		1,243,648			944,115
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(183,228	)		(64,377	)
Share of other comprehensive income of equity method investees		237,212			167,894

Total of items that may be reclassified subsequently to profit (loss)		1,297,631			1,047,633

Total other comprehensive income, net of tax		1,235,009			1,597,865

Comprehensive income		2,454,565			4,245,386

Comprehensive income for the period attributable to
Toyota Motor Corporation		2,371,417			4,145,722
Non-controlling interests		83,147			99,664

Comprehensive income		2,454,565			4,245,386

—5—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Income


	Yen in millions
	For the second quarter ended September 30, 2022			For the second quarter ended September 30, 2023
Sales revenues
Sales of products		8,519,475			10,597,988
Financial services		698,757			836,798

Total sales revenues		9,218,232			11,434,786

Costs and expenses
Cost of products sold		7,349,121			8,501,716
Cost of financial services		445,382			563,134
Selling, general and administrative		860,940			931,543

Total costs and expenses		8,655,443			9,996,392

Operating income		562,789			1,438,394

Share of profit (loss) of investments accounted for using the equity method		133,554			185,174
Other finance income		71,561			147,813
Other finance costs		(50,988	)		(20,961	)
Foreign exchange gain (loss), net		108,196			52,600
Other income (loss), net		(12,583	)		(2,047	)

Income before income taxes		812,528			1,800,972

Income tax expense		351,225			480,341

Net income		461,303			1,320,631

Net income attributable to
Toyota Motor Corporation		434,264			1,278,056
Non-controlling interests		27,040			42,575

Net income		461,303			1,320,631


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted		31.73			94.51

—6—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income


	Yen in millions
	For the second quarter ended September 30, 2022			For the second quarter ended September 30, 2023
Net income		461,303			1,320,631
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 through other comprehensive income		(15,435	)		1,584
Remeasurements of defined benefit plans		(5,168	)		(2,127	)
Share of other comprehensive income of equity method investees		(20,100	)		117,892

Total of items that will not be reclassified to profit (loss)		(40,703	)		117,349

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		325,505			183,933
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		(95,968	)		(56,773	)
Share of other comprehensive income of equity method investees		116,117			126,358

Total of items that may be reclassified subsequently to profit (loss)		345,653			253,519

Total other comprehensive income, net of tax		304,951			370,868

Comprehensive income		766,254			1,691,499

Comprehensive income for the period attributable to
Toyota Motor Corporation		736,238			1,645,123
Non-controlling interests		30,016			46,376

Comprehensive income		766,254			1,691,499

—7—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity

For the first half ended September 30, 2022


	Yen in millions
	Common stock		Additional paid-in capital			Retained earnings			Other components of equity			Treasury stock			Toyota Motor Corporation shareholders’ equity			Non- controlling interests			Total shareholders’ equity
Balances at April 1, 2022		397,050		498,575			26,453,126			2,203,254			(3,306,037	)		26,245,969			908,851			27,154,820

Comprehensive income
Net income		—		—			1,171,084			—			—			1,171,084			48,472			1,219,556
Other comprehensive income, net of tax		—		—			—			1,200,334			—			1,200,334			34,675			1,235,009

Total comprehensive income		—		—			1,171,084			1,200,334			—			2,371,417			83,147			2,454,565

Transactions with owners and other
Dividends paid		—		—			(385,792	)		—			—			(385,792	)		(69,506	)		(455,299	)
Repurchase of treasury stock		—		—			—			—			(195,545	)		(195,545	)		—			(195,545	)
Reissuance of treasury stock		—		334			—			—			573			907			—			907
Equity transactions and other		—		297			—			—			—			297			602			899

Total transactions with owners and other		—		631			(385,792	)		—			(194,972	)		(580,134	)		(68,905	)		(649,038	)

Reclassification to retained earnings		—		—			66,577			(66,577	)		—			—			—			—

Balances at September 30, 2022		397,050		499,206			27,304,994			3,337,011			(3,501,009	)		28,037,253			923,094			28,960,346

For the first half ended September 30, 2023
	Yen in millions
	Common stock		Additional paid-in capital			Retained earnings			Other components of equity			Treasury stock			Toyota Motor Corporation shareholders’ equity			Non- controlling interests			Total shareholders’ 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		—		—			2,589,428			—			—			2,589,428			58,093			2,647,521
Other comprehensive income, net of tax		—		—			—			1,556,294			—			1,556,294			41,571			1,597,865

Total comprehensive income		—		—			2,589,428			1,556,294			—			4,145,722			99,664			4,245,386

Transactions with owners and other
Dividends paid		—		—			(474,781	)		—			—			(474,781	)		(74,812	)		(549,593	)
Repurchase of treasury stock		—		—			—			—			(116,507	)		(116,507	)		—			(116,507	)
Reissuance of treasury stock		—		263			—			—			649			911			—			911
Equity transactions and other		—		(939	)		—			—			—			(939	)		9,296			8,358

Total transactions with owners and other		—		(676	)		(474,781	)		—			(115,858	)		(591,316	)		(65,516	)		(656,831	)

Reclassification to retained earnings		—		—			289,746			(289,746	)		—			—			—			—

Balances at September 30, 2023		397,050		498,052			30,747,689			4,102,743			(3,852,421	)		31,893,112			959,656			32,852,768

—8—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows


	Yen in millions
	For the first half ended September 30, 2022			For the first half ended September 30, 2023
Cash flows from operating activities
Net income		1,219,556			2,647,521
Depreciation and amortization		1,016,123			1,019,961
Interest income and interest costs related to financial services, net		(355,403	)		(367,298	)
Share of profit (loss) of investments accounted for using the equity method		(304,623	)		(378,530	)
Income tax expense		614,720			874,004
Changes in operating assets and liabilities, and other		(398,273	)		(1,899,459	)
Interest received		677,731			1,038,446
Dividends received		355,592			463,630
Interest paid		(229,205	)		(482,012	)
Income taxes paid, net of refunds		(937,422	)		(638,183	)

Net cash provided by (used in) operating activities		1,658,797			2,278,079

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(733,675	)		(847,498	)
Additions to equipment leased to others		(930,723	)		(1,298,943	)
Proceeds from sales of fixed assets excluding equipment leased to others		21,016			67,703
Proceeds from sales of equipment leased to others		876,929			932,990
Additions to intangible assets		(160,772	)		(147,974	)
Additions to public and corporate bonds and stocks		(659,075	)		(1,014,675	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds		744,952			1,215,728
Other, net		58,857			(1,558,924	)

Net cash provided by (used in) investing activities		(782,490	)		(2,651,591	)

Cash flows from financing activities
Increase (decrease) in short-term debt		121,280			278,309
Proceeds from long-term debt		4,574,105			5,261,465
Payments of long-term debt		(4,444,965	)		(4,328,396	)
Dividends paid to Toyota Motor Corporation common shareholders		(385,792	)		(474,781	)
Dividends paid to non-controlling interests		(69,506	)		(74,812	)
Reissuance (repurchase) of treasury stock		(195,545	)		(116,507	)
Other, net		—			8,758

Net cash provided by (used in) financing activities		(400,424	)		554,035

Effect of exchange rate changes on cash and cash equivalents		390,632			228,573

Net increase (decrease) in cash and cash equivalents		866,514			409,097

Cash and cash equivalents at beginning of period		6,113,655			7,516,966

Cash and cash equivalents at end of period		6,980,169			7,926,063

—9—

Table of Contents

TOYOTA MOTOR CORPORATION FY2024 Second Quarter Financial Summary

5. Going Concern Assumption

None

—10—

Table of Contents

Supplemental Material for Financial Results for FY2024 Second Quarter (Consolidated)

< IFRS >


	FY2023																		FY2024									FY2024
	1Q (2022/4-6)			2Q (2022/7-9)			First Half 6 months (2022/4-9)			3Q (2022/10-12)			4Q (2023/1-3)			12 months (‘22/4-‘23/3)			1Q (2023/4-6)			2Q (2023/7-9)			First Half 6 months (2023/4-9)			Forecast 12 months (‘23/4-‘24/3)
Vehicle Production (thousands of units)		1,936			2,179			4,115			2,243			2,336			8,694			2,345			2,379			4,725
(Japan) –including Daihatsu & Hino		802			934			1,735			975			1,078			3,789			1,025			1,090			2,114
[Daihatsu & Hino]		[208	]		[240	]		[448	]		[285	]		[269	]		[1,002	]		[190	]		[232	]		[422	]
(Overseas) –including Daihatsu & Hino		1,135			1,245			2,380			1,268			1,258			4,905			1,321			1,289			2,610
[Daihatsu & Hino]		[121	]		[157	]		[277	]		[164	]		[156	]		[597	]		[118	]		[139	]		[258	]
North America		452			460			913			415			441			1,768			520			482			1,002
Europe		201			183			385			210			176			771			223			161			384
Asia		372			468			840			510			508			1,859			437			498			935
Central and South America		104			105			209			95			95			398			102			105			207
Africa		5			28			33			38			38			109			39			44			83
Vehicle Sales (thousands of units)		2,013			2,146			4,159			2,331			2,331			8,822			2,326			2,418			4,744			9,600
(Japan) –including Daihatsu & Hino		403			466			869			532			668			2,069			532			540			1,072			2,320
[Daihatsu & Hino]		[126	]		[144	]		[270	]		[169	]		[182	]		[621	]		[134	]		[141	]		[275	]		[620	]
(Overseas) –including Daihatsu & Hino		1,610			1,680			3,290			1,799			1,664			6,753			1,794			1,878			3,672			7,280
[Daihatsu & Hino]		[68	]		[78	]		[146	]		[92	]		[83	]		[321	]		[69	]		[74	]		[144	]		[280	]
North America		635			610			1,245			607			555			2,407			682			703			1,385			2,730
Europe		248			231			479			277			273			1,030			286			270			557			1,150
Asia		361			456			817			476			458			1,751			417			478			895			1,760
Central and South America		123			128			251			144			115			509			128			126			254			480
Oceania		76			67			142			68			54			265			76			87			163			310
Africa		36			61			97			68			61			226			59			62			121			270
Middle East		130			126			256			157			145			559			143			149			292			580
Other		2			2			3			2			2			7			3			2			5
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		2,544			2,625			5,168			2,721			2,669			10,558			2,751			2,845			5,596			11,380

Supplemental 1

Table of Contents

Supplemental Material for Financial Results for FY2024 Second Quarter (Consolidated)

< IFRS >


	FY2023																		FY2024									FY2024
	1Q (2022/4-6)			2Q (2022/7-9)			First Half 6 months (2022/4-9)			3Q (2022/10-12)			4Q (2023/1-3)			12 months (‘22/4-‘23/3)			1Q (2023/4-6)			2Q (2023/7-9)			First Half 6 months (2023/4-9)			Forecast 12 months (‘23/4-‘24/3)
Foreign Exchange Rates
Yen to US Dollar Rate		130			138			134			141			132			135			137			145			141			as premise: 141
Yen to Euro Rate		138			139			139			144			142			141			150			157			153			as premise: 152
Number of Employees		376,971			377,369			377,369			375,396			375,235			375,235			379,659			381,576			381,576	(Note 1)
Sales Revenues (billions of yen)		8,491.1			9,218.2			17,709.3			9,754.6			9,690.2			37,154.2			10,546.8			11,434.7			21,981.6			43,000.0
Geographic Information
Japan		3,899.7			4,290.1			8,189.9			4,582.2			4,811.0			17,583.1			5,105.5			5,404.7			10,510.3
North America		3,349.9			3,523.6			6,873.5			3,588.9			3,381.4			13,843.9			4,092.0			4,504.2			8,596.2
Europe		973.0			939.3			1,912.3			1,155.6			1,205.6			4,273.7			1,299.0			1,359.4			2,658.4
Asia		1,795.6			2,153.3			3,949.0			2,183.9			1,911.9			8,044.9			1,964.5			2,346.6			4,311.1
Other		828.7			907.5			1,736.3			907.1			828.7			3,472.1			1,024.6			1,165.1			2,189.7
Elimination		-2,355.9			-2,595.8			-4,951.8			-2,663.2			-2,448.5			-10,063.6			-2,939.0			-3,345.3			-6,284.4
Business Segment
Automotive		7,720.1			8,408.9			16,129.0			8,871.4			8,819.4			33,820.0			9,687.9			10,477.3			20,165.3
Financial Services		652.1			704.2			1,356.3			741.7			711.5			2,809.6			775.1			846.1			1,621.3
All Other		262.3			271.0			533.4			312.2			379.2			1,224.9			306.4			319.2			625.6
Elimination		-143.4			-166.0			-309.5			-170.6			-220.0			-700.2			-222.7			-207.9			-430.7
Operating Income (billions of yen)		578.6			562.7			1,141.4			956.6			626.9			2,725.0			1,120.9			1,438.3			2,559.2			4,500.0
(Operating Income Ratio) (%)		(6.8	)		(6.1	)		(6.4	)		(9.8	)		(6.5	)		(7.3	)		(10.6	)		(12.6	)		(11.6	)		(10.5	)
Geographic Information
Japan		336.7			521.1			857.9			683.4			360.1			1,901.4			701.9			879.1			1,581.0
North America		14.5			-85.6			-71.0			-17.9			14.2			-74.7			119.6			169.4			289.1
Europe		19.6			-65.5			-45.9			62.6			40.7			57.4			83.0			99.3			182.3
Asia		212.7			178.9			391.6			168.7			154.0			714.4			186.2			224.9			411.1
Other		45.8			64.0			109.9			66.1			55.3			231.3			85.4			104.2			189.6
Elimination		-50.8			-50.1			-101.0			-6.3			2.3			-104.9			-55.4			-38.7			-94.1
Business Segment
Automotive		449.2			453.7			902.9			818.8			458.8			2,180.6			945.6			1,301.6			2,247.2
Financial Services		114.5			84.4			198.9			125.0			113.5			437.5			147.2			97.6			244.9
All Other		18.3			20.3			38.6			18.4			46.2			103.4			40.2			39.5			79.8
Elimination		-3.4			4.3			0.8			-5.7			8.3			3.4			-12.2			-0.4			-12.7
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of yen)		171.0			133.5			304.6			170.0			168.3			643.0			193.3			185.1			378.5			740.0
Income before Income Taxes (billions of yen)		1,021.7			812.5			1,834.2			1,034.9			799.4			3,668.7			1,720.5			1,800.9			3,521.5			5,550.0
(Income before Income Taxes Ratio) (%)		(12.0	)		(8.8	)		(10.4	)		(10.6	)		(8.3	)		(9.9	)		(16.3	)		(15.7	)		(16.0	)		(12.9	)
Net Income Attributable toToyota Motor Corporation (billions of yen)		736.8			434.2			1,171.0			727.9			552.2			2,451.3			1,311.3			1,278.0			2,589.4			3,950.0
(Net Income Ratio) (%)		(8.7	)		(4.7	)		(6.6	)		(7.5	)		(5.7	)		(6.6	)		(12.4	)		(11.2	)		(11.8	)		(9.2	)
Dividends
Cash Dividends (billions of yen)		—			342.1			342.1			—			474.7			816.9			—			405.4			405.4	(Note 2)
Cash Dividends per Share (yen)		—			25			25			—			35			60			—			30			30
Payout Ratio (%)		—			29.2			29.2			—			37.1			33.4			—			15.6			15.6
Value of Shares Repurchased (billions of yen)[actual purchase]		121.3			74.2			195.5			141.0			94.5			431.0			34.3			82.1			116.4	(Note 3)
Value of Shares Repurchased (billions of yen)[shareholder return]		—			149.9			149.9			—			150.0			299.9			—			100.0			100.0	(Note 3) (Note 4)
Number of Outstanding Shares (thousands)		16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			16,314,987

Supplemental 2

Table of Contents

Supplemental Material for Financial Results for FY2024 Second Quarter (Consolidated)

< IFRS >


	FY2023												FY2024							FY2024
	1Q (2022/4-6)		2Q (2022/7-9)		First Half 6 months (2022/4-9)		3Q (2022/10-12)		4Q (2023/1-3)		12 months (‘22/4-‘23/3)		1Q (2023/4-6)		2Q (2023/7-9)		First Half 6 months (2023/4-9)			Forecast 12 months (‘23/4-‘24/3)
R&D Expenses (billions of yen)		302.2		318.4		620.7		298.8		322.0		1,241.6		294.8		314.0		608.9			1,240.0	(Note 5)
Depreciation Expenses (billions of yen)		284.3		289.7		574.0		298.1		312.7		1,185.0		298.3		303.2		601.6			1,260.0	(Note 6)
Geographic Information
Japan		122.6		126.3		248.9		118.0		145.8		512.8		140.7		139.5		280.2
North America		87.4		95.3		182.8		94.4		89.4		366.6		79.4		84.5		163.9
Europe		22.1		20.4		42.5		20.9		22.3		85.9		21.4		23.4		44.8
Asia		39.9		42.5		82.4		56.2		45.2		184.0		46.1		44.6		90.7
Other		12.2		5.0		17.2		8.4		9.7		35.5		10.5		11.1		21.7
Capital Expenditures (billions of yen)		274.6		407.4		682.0		358.8		564.9		1,605.8		366.6		442.8		809.4			1,970.0	(Note 6)
Geographic Information
Japan		128.6		151.6		280.2		148.1		275.4		703.8		144.0		175.2		319.3
North America		97.9		175.3		273.3		120.1		162.7		556.1		154.1		159.5		313.6
Europe		10.3		10.3		20.6		16.9		24.1		61.7		12.5		28.9		41.4
Asia		25.7		65.5		91.2		63.4		68.1		222.9		41.1		54.9		96.0
Other		11.9		4.5		16.5		10.2		34.4		61.2		14.7		24.2		38.9
Total Liquid Assets (billions of yen)		10,532.2		11,004.6		11,004.6		10,278.7		11,313.7		11,313.7		12,287.8		13,808.6		13,808.6	(Note 7)
Total Assets (billions of yen)		71,935.1		74,484.0		74,484.0		71,580.5		74,303.1		74,303.1		80,131.2		83,661.3		83,661.3
Toyota Motor Corporation Shareholders’ Equity (billions of yen)		27,374.8		28,037.2		28,037.2		27,535.8		28,338.7		28,338.7		30,330.0		31,893.1		31,893.1
Return on Equity (%)		11.0		6.3		8.6		10.5		7.9		9.0		17.9		16.4		17.2
Return on Asset (%)		4.2		2.4		3.3		4.0		3.0		3.5		6.8		6.2		6.6
Number of Consolidated Subsidiaries (including Structured Entities)												569
Number of Associates and Joint Ventures Accounted for Using the Equity Method												168


Analysis of Consolidated Net Income Attributable to Toyota Motor Corporation for FY2024 (billions of yen, approximately)	2Q (2023/7-9)		First Half 6 months (2023/4-9)
Marketing Efforts		690.0		1,290.0
Effects of Changes in Exchange Rates		145.0		260.0
Cost Reduction Efforts		45.0		-110.0
From Engineering		10.0		-175.0
From Manufacturing and Logistics		35.0		65.0
Increase or Decrease in Expenses and Expense Reduction Efforts		-150.0		-220.0
Other		145.6		197.8
(Changes in Operating Income)		875.6		1,417.8
Non-operating Income		112.8		269.3
Share of Profit (Loss) of Investments Accounted for Using the Equity Method		51.6		73.9
Income tax expense, Net Income Attributable to Non-controlling Interests		-144.6		-268.9
(Changes in Net Income Attributable to Toyota Motor Corporation)		843.7		1,418.3

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 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.

(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, 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

EX-99.2 3 d552715dex992.htm NOTICE CONCERNING THE DISTRIBUTION OF INTERIM DIVIDENDS FROM SURPLUS Notice Concerning the Distribution of Interim Dividends from Surplus

[Reference Translation]

November 1, 2023

To Whom It May Concern:

Company Name: TOYOTA MOTOR CORPORATION

Name and Title of Representative:

Koji Sato, President

(Code Number: 7203

Prime of Tokyo Stock Exchange and

Premier of Nagoya Stock Exchange)

Name and Title of Contact Person:

Yoshihide Moriyama, General Manager,

Capital Strategy & Affiliated Companies Finance Div.

(Telephone Number: 0565-28-2121)

Notice Concerning Distribution of Interim Dividends from Surplus

At a meeting held November 1, 2023, the Board of Directors of Toyota Motor Corporation (“TMC”) resolved to distribute dividends from surplus, with a record date of September 30, 2023. In relation to the above, we hereby inform you of the following:

1.	Details of dividends


	Interim dividend for FY 2024	Most recent dividend forecast	Interim dividend paid for FY 2023
Record date	September 30, 2023	September 30, 2023	September 30, 2022
Dividend per share	30.00 yen	—	25.00 yen
Total amount of dividends	405,416 million yen	—	342,187 million yen
Effective date	November 22, 2023	—	November 22, 2022
Source of dividends	Retained earnings	—	Retained earnings

[Reference] Details of dividends per common share through the fiscal year


Record date	Dividends for FY 2024 (ended September 30,2023)	Dividends for FY 2023 (ended September 30,2022)
End of interim period	30.00 yen	25.00 yen
End of fiscal period	—	35.00 yen
Total	—	60.00 yen

2.	Reason for the dividend amount

TMC deems the improvement of its shareholders’ profit as one of its priority management policies, and it will continue to work to improve its corporate culture to realize sustainable growth in order to enhance its corporate value.

TMC will strive to increase dividends in a stable and continuous manner.

With a view to surviving tough competition and transitioning to a mobility company, TMC will utilize its internal funds mainly for its investment in growth for the next generation such as environmental technologies to achieve a carbon neutral society and safety technologies for the safety and security of its customers, and also for the stakeholders such as employees, business partners and local communities.

-End-

EX-99.3 4 d552715dex993.htm NOTICE CONCERNING THE DETERMINATION OF MATTERS RELATING TO THE REPURCHASE Notice Concerning the Determination of Matters Relating to the Repurchase

[Reference Translation]

November 1, 2023

To Whom It May Concern:


		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Koji Sato, President
		(Code Number: 7203
		Prime of Tokyo Stock Exchange and
		Premier of Nagoya Stock Exchange)
		Name and Title of Contact Person:
		Yoshihide Moriyama, General Manager,
		Capital Strategy & Affiliated Companies Finance Div.
		(Telephone Number: 0565-28-2121)

Notice Concerning the Determination of Matters Relating to

the Repurchase of Shares of Common Stock

(Repurchase of Shares under Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)

We hereby inform you that Toyota Motor Corporation (“TMC”) resolved at a meeting of the board of directors held on November 1, 2023 to repurchase shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act.

1.	Reason for repurchasing shares

TMC will flexibly repurchase its common stock while considering factors such as the price level of its common stock.

2.	Details of matters relating to repurchase


(1) Class of shares to be repurchased		Shares of Common Stock of TMC

(2) Total number of shares to be repurchased		60 million shares (maximum)

		(Represents 0.44% of the total number of issued shares (excluding treasury stock))

(3) Total purchase price for repurchase of shares		JPY 100 billion (maximum)

(4) Period of repurchase		From November 2, 2023 to April 30, 2024

(References) Number of treasury stock as of September 30, 2023


Total number of issued shares (excluding treasury stock) :	13,513,852,345	shares

Number of treasury stock :	2,801,135,115	shares

-End-

EX-99.4 5 d552715dex994.htm NOTICE CONCERNING AMENDMENTS TO FORECASTS FOR FY2024 Notice Concerning Amendments to Forecasts for FY2024

[Reference Translation]

November 1, 2023

To Whom It May Concern:


		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Koji Sato, President
		(Code Number: 7203
		Prime of the Tokyo Stock Exchange and
		Premier of the Nagoya Stock Exchange)
		Name and Title of Contact Person:
		Yoshihide Moriyama, General Manager,
		Capital Strategy & Affiliated Companies Finance Div.
		(Telephone Number: 0565-28-2121)

Notice Concerning Amendments to Forecasts for FY2024

Based on our recent business results, we, Toyota Motor Corporation, hereby amend, as below, our full-year consolidated financial forecasts for FY2024 (April 1, 2023 through March 31, 2024), announced on May 10, 2023.

1.	Amendments to the full-year consolidated financial forecasts for FY2024 (April 1, 2023 through March 31, 2024)

(Amount: billion yen)


	Sales revenues		Operating income		Income before income taxes		Net income attributable to Toyota Motor Corporation
Previous forecasts (A)		38,000.0		3,000.0		3,690.0		2,580.0
New forecasts (B)		43,000.0		4,500.0		5,550.0		3,950.0
Amount changed (B – A)		5,000.0		1,500.0		1,860.0		1,370.0
% of change		13.2%		50.0%		50.4%		53.1%
(Reference) Actual results for FY2023		37,154.2		2,725.0		3,668.7		2,451.3

2.	Reasons for the amendments

The full-year consolidated financial forecasts for FY2024 were amended from the previously announced forecasts in light of efforts to improve profitability, in addition to the impact of exchange rate fluctuations.

The forecast of the full-year consolidated vehicle unit sales for FY2024 has not been changed from the previous forecast of 9.6 million units.

The assumption of the foreign exchange rate for the full-year average has been changed from 125 yen per U.S. dollar and 135 yen per euro to 141 yen per U.S. dollar and 152 yen per euro.

(Note)

This notice 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.