トヨタ自動車ADRの適時開示

6-K 1 d904529d6k.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 May, 2025

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 May 8, 2025, with respect to the registrant’s results of operations for the fiscal year ended March 31, 2025.

II.	English translations of the FY2025 Presentation Documents, as filed by the registrant with the Tokyo Stock Exchange on May 8, 2025.

III.	English translation of the Notice Concerning the Holding of Ordinary General Shareholders’ Meeting to be held on June 12, 2025, as filed by the registrant with the Tokyo Stock Exchange on May 8, 2025.

IV.	English translation of the Notice Concerning the Disposition of Treasury Stock under the Restricted Stock Compensation Plan, as filed by the registrant with the Tokyo Stock Exchange on May 8, 2025.

V.	English translation of the Notice Concerning the Partial Amendments to the Articles of Incorporation, as filed by the registrant with the Tokyo Stock Exchange on May 8, 2025.

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: May 8, 2025

EX-99.1 2 d904529dex991.htm FY2025 FINANCIAL SUMMARY FY2025 FINANCIAL SUMMARY Table of Contents

FINANCIAL SUMMARY

FY2025

(April 1, 2024 through March 31, 2025)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

Table of Contents

FY2025 Consolidated Financial Results

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

English translation from the original Japanese-language document

May 8, 2025


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
Date of the ordinary general shareholders’ meeting	:	June 12, 2025
Payment date of cash dividends	:	May 26, 2025
Filing date of financial statements	:	June 18, 2025
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 (April 1,2024 through March 31, 2025)

(1)	Consolidated financial results


	(% of change from previous year)
	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		%
FY2025		48,036,704		6.5		4,795,586		-10.4		6,414,590		-7.9		4,789,755		-5.6		4,765,086		-3.6		4,043,724		-43.7
FY2024		45,095,325		21.4		5,352,934		96.4		6,965,085		89.8		5,071,421		103.4		4,944,933		101.7		7,188,523		116.5


	Earnings per share attributable to Toyota Motor Corporation - Basic		Earnings per share attributable to Toyota Motor Corporation - Diluted		Ratio of net income attributable to Toyota Motor Corporation to Toyota Motor Corporation shareholders’ equity		Ratio of income before income taxes and equity in earnings of affiliated companies to total assets		Ratio of operating income to sales revenues
	Yen		Yen		%		%		%
FY2025		359.56		359.56		13.6		7.0		10.0
FY2024		365.94		365.94		15.8		8.5		11.9

(Reference) Share of profit (loss) of investments accounted for using the equity method

FY2025 591,219 million yen, FY2024 763,137 million yen

(2)	Consolidated financial position


	Total assets		Total shareholders’ equity		Toyota Motor Corporation shareholders’ equity		Ratio of Toyota Motor Corporation shareholders’ equity		Toyota Motor Corporation shareholders’ equity per share
	Million yen		Million yen		Million yen		%		Yen
FY2025		93,601,350		36,878,913		35,924,826		38.4		2,753.09
FY2024		90,114,296		35,239,338		34,220,991		38.0		2,539.75

(3)	Consolidated cash flows


	From operating activities		From investing activities			From financing activities		Cash and cash equivalents at end of year
	Million yen		Million yen			Million yen		Million yen
FY2025		3,696,934		(4,189,736	)		197,236		8,982,404
FY2024		4,206,373		(4,998,751	)		2,497,558		9,412,060

2.	Cash Dividends


	Annual cash dividends per common share										Total amount of cash dividends (annual)		Dividends payout ratio (consolidated)		Ratio of total amount of dividends to Toyota Motor Corporation shareholders’ equity (consolidated)
	End of first quarter		End of second quarter		End of third quarter		Year-end		Total		Total amount of cash dividends (annual)		Dividends payout ratio (consolidated)
	Yen		Yen		Yen		Yen		Yen		Million yen		%		%
FY2024		—		30.00		—		45.00		75.00		1,011,753		20.4		3.2
FY2025		—		40.00		—		50.00		90.00		1,178,437		25.0		3.4
FY2026 (forecast)		—		45.00		—		50.00		95.00				39.9

3.	Forecast of Consolidated Results for FY2026 (April 1, 2025 through March 31, 2026)


	(% of change from FY2025)
	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	48,500,000		1.0	3,800,000		-20.8	4,410,000		-31.3	3,100,000		-34.9	237.57

Table of Contents

Notes

(1)	Significant changes in the scope of consolidation during the period: yes

Newly included: 1 company (Lexus Electrified Shanghai Co., Ltd.)

(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 fiscal year (including treasury stock) :

FY2025 15,794,987,460 shares, FY2024 16,314,987,460 shares

(ii)

Number of treasury stock at the end of each fiscal year:

FY2025 2,746,057,686 shares, FY2024 2,840,815,433 shares

(iii)

Average number of shares issued and outstanding in each fiscal year:

FY2025 13,252,455,897 shares, FY2024 13,512,848,373 shares

(Reference)Overview of the Unconsolidated Financial Results

FY2025 Unconsolidated Financial Results

(Unconsolidated financial information has been prepared in accordance with Japanese generally accepted accounting principles)

English translation from the original Japanese-language document

1. Unconsolidated Results for FY2025 (April 1, 2024 through March 31, 2025)

(1)	Unconsolidated financial results


	(% of change from previous year)
	Net revenues				Operating income				Ordinary income				Net income
	Million yen		%		Million yen		%		Million yen		%		Million yen		%
FY2025		18,277,671		4.0		2,966,857		-4.1		4,538,037		-18.7		3,845,213		-12.6
FY2024		17,575,593		24.9		3,094,495		85.2		5,578,695		58.4		4,399,855		49.8


	Net income per common share - Basic		Net income per common share - Diluted
	Yen		Yen
FY2025		290.15		290.15
FY2024		325.61		325.61

(2)	Unconsolidated financial position


	Total assets		Net assets		Equity ratio		Net assets per common share
	Million yen		Million yen		%		Yen
FY2025		29,046,699		21,504,804		74.0		1,648.01
FY2024		28,161,955		20,440,081		72.6		1,516.98

(Reference)Equity at the end of FY2025: 21,504,804 million yen, Equity at the end of FY2024: 20,440,081 million yen This report contains forward-looking statements that reflect the plans and expectations of Toyota Motor Corporation and its consolidated subsidiaries (“Toyota”).

Table of Contents

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

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

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. With regard to Toyota’s decisions and assumptions for the forecast, please refer to “ Financial Results and Position 3. Forecast of Consolidated Financial Results for FY2026” on page 5 of the materials accompanying this report. 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 Motor Corporation’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 FY2025 Financial Summary

TABLE OF CONTENTS


Financial Results and Position			2
1. Consolidated Financial Results for FY2025			2
2. Consolidated Financial Position for FY2025			4
3. Forecast of Consolidated Financial Results for FY2026			5
Basic Concept Regarding the Selection of Accounting Standards			6
Unaudited Consolidated Financial Statements			7
1. Unaudited Consolidated Statement of Financial Position			7
2. Unaudited Consolidated Statement of Income and Unaudited Consolidated Statement of Comprehensive Income			9
3. Unaudited Consolidated Statement of Changes in Equity			11
4. Unaudited Consolidated Statement of Cash Flows			12
5. Notes to Unaudited Consolidated Financial Statements			13
(1) Going Concern Assumption			13
(2) Segment Information			13
(3) Earnings Per Share			20
(4) Significant Subsequent Events			20

Supplemental Material for Financial Results for FY2025

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Table of Contents

TOYOTA MOTOR CORPORATION FY2025 Financial Summary

Financial Results and Position

1. Consolidated Financial Results for FY2025

Financial Results

Under the task of “make ever-better cars,” Toyota has worked on “product-centered and region-centered management” for many years, and through this approach, we have built a full product lineup and a global business foundation. Leveraging these foundations, during FY2025, we continued strengthening the “work foundation,” beginning with ensuring safety and quality, while striving to deliver better cars to customers around the world. In addition, in order to fulfill our mission of “producing happiness for all” through the offering of a diverse range of mobility options, we have advanced various technological developments and infrastructure-building initiatives aimed at transforming into a mobility company, under the Toyota Mobility Concept.

Under these conditions, consolidated vehicle unit sales in Japan and overseas decreased by 80 thousand units, or 0.9%, to 9,362 thousand units in FY2025 compared with FY2024. Vehicle unit sales in Japan decreased by 2 thousand units, or 0.1%, to 1,991 thousand units in FY2025 compared with FY2024. Overseas vehicle unit sales decreased by 78 thousand units, or 1.0%, to 7,372 thousand units in FY2025 compared with FY2024.

The results of operations for FY2025 were as follows:


Sales revenues	48,036.7 billion yen	(an increase of 2,941.3 billion yen or 6.5% compared with FY2024)

Operating income	4,795.5 billion yen	(a decrease of 557.3 billion yen or 10.4% compared with FY2024)

Income before income taxes	6,414.5 billion yen	(a decrease of 550.4 billion yen or 7.9% compared with FY2024)

Net income attributable to Toyota Motor Corporation	4,765.0 billion yen	(a decrease of 179.8 billion yen or 3.6% compared with FY2024)

The changes in operating income were as follows:


Marketing efforts		an increase of 145.0 billion yen

Effects of changes in exchange rates		an increase of 590.0 billion yen

Increase or decrease in expenses and expense reduction efforts		a decrease of 990.0 billion yen

Other		a decrease of 302.3 billion yen

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

Segment Operating Results

(1) Automotive:

Sales revenues for the automotive operations increased by 1,933.6 billion yen, or 4.7%, to 43,199.8 billion yen in FY2025 compared with FY2024. However, operating income decreased by 681.1 billion yen, or 14.7%, to 3,940.2 billion yen in FY2025 compared with FY2024. The decrease in operating income was mainly due to the increase in expenses and others.

(2) Financial services:

Sales revenues for the financial services operations increased by 996.9 billion yen, or 28.6%, to 4,481.1 billion yen in FY2025 compared with FY2024, and operating income increased by 113.4 billion yen, or 19.9%, to 683.5 billion yen in FY2025 compared with FY2024. The increase in operating income was mainly due to increase in financing volume and decrease in valuation losses on interest rate swaps stated at fair value.

(3) All other:

Sales revenues for all other businesses increased by 78.9 billion yen, or 5.8%, to 1,447.1 billion yen in FY2025 compared with FY2024, and operating income increased by 5.9 billion yen, or 3.4%, to 181.1 billion yen in FY2025 compared with FY2024.

Geographic Information

(1) Japan:

Sales revenues in Japan increased by 838.3 billion yen, or 4.0%, to 21,859.0 billion yen in FY2025 compared with FY2024. However, operating income decreased by 333.1 billion yen, or 9.6%, to 3,151.1 billion yen in FY2025 compared with FY2024. The decrease in operating income was mainly due to the increase in expenses and others and the effects of the misconduct in relation to applications for certification by Hino Motors, Ltd.

(2) North America:

Sales revenues in North America increased by 1,357.2 billion yen, or 7.6%, to 19,300.3 billion yen in FY2025 compared with FY2024. However, operating income decreased by 397.5 billion yen, or 78.5%, to 108.8 billion yen in FY2025 compared with FY2024. The decrease in operating income was mainly due to the increase in expenses and others.

(3) Europe:

Sales revenues in Europe increased by 631.7 billion yen, or 11.1%, to 6,313.4 billion yen in FY2025 compared with FY2024, and operating income increased by 27.4 billion yen, or 7.1%, to 415.5 billion yen in FY2025 compared with FY2024. The increase in operating income was mainly due to cost reduction efforts.

(4) Asia:

Sales revenues in Asia increased by 257.3 billion yen, or 2.9%, to 8,988.0 billion yen in FY2025 compared with FY2024, and operating income increased by 30.9 billion yen, or 3.6%, to 896.5 billion yen in FY2025 compared with FY2024. The increase in operating income was mainly due to the effects of changes in exchange rates and the decrease in expenses and expense reduction efforts.

(5) Other (Central and South America, Oceania, Africa and the Middle East):

Sales revenues in other regions increased by 131.4 billion yen, or 3.0%, to 4,521.2 billion yen in FY2025 compared with FY2024, and operating income increased by 54.2 billion yen, or 27.4%, to 252.6 billion yen in FY2025 compared with FY2024. The increase in operating income was mainly due to marketing efforts.

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

2. Consolidated Financial Position for FY2025

Financial Position

The financial position for FY2025 was as follows:

Total assets increased by 3,487.0 billion yen, or 3.9%, to 93,601.3 billion yen at the end of FY2025 compared with the end of FY2024. Liabilities increased by 1,847.4 billion yen, or 3.4%, to 56,722.4 billion yen at the end of FY2025 compared with the end of FY2024. Shareholders’ equity increased by 1,639.5 billion yen, or 4.7%, to 36,878.9 billion yen at the end of FY2025 compared with the end of FY2024.

Overview of Cash Flow

Cash and cash equivalents decreased by 429.6 billion yen, or 4.6%, to 8,982.4 billion yen at the end of FY2025 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 3,696.9 billion yen for FY2025. Net cash provided by operating activities decreased by 509.4 billion yen from 4,206.3 billion yen for FY2024.

Cash flows from investing activities

Net cash flows from investing activities resulted in a decrease in cash by 4,189.7 billion yen for FY2025, compared with net cash used in investing activities of 4,998.7 billion yen for FY2024, a 809.0 billion yen change.

Cash flows from financing activities

Net cash flows from financing activities resulted in an increase in cash by 197.2 billion yen for FY2025. Net cash provided by financing activities decreased by 2,300.3 billion yen from 2,497.5 billion yen for FY2024.

The consolidated cash flows by segment for FY2025 are as follows:

Non-financial services

Net cash provided by operating activities was 4,736.6 billion yen, net cash used in investing activities was 2,811.2 billion yen and net cash used in financing activities was 2,638.9 billion yen.

Financial services

Net cash used in operating activities was 1,022.3 billion yen, net cash used in investing activities was 1,412.6 billion yen and net cash provided by financing activities was 2,853.0 billion yen.

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

3. Forecast of Consolidated Financial Results for FY2026

In order to provide the freedom and enjoyment of mobility to all and realize a mobility society that is safe, reliable, and sustainable, Toyota aims to transform itself into a mobility company.

To ensure cars remain a form of mobility that makes people happy, we must minimize the negative effects that cars have on society—such as congestion and increases in traffic accidents and pollution—while maximizing the benefits, including convenience, comfort, and the enjoyment of driving. The Toyota Mobility Concept breaks down this process into three stages: Mobility 1.0 Transitioning Cars to Mobility, Mobility 2.0 Expanding Mobility Access, and Mobility 3.0 Synergy of Mobility & Infrastructure. Based on this conceptual structure, we are taking on various challenges premised on two key themes: carbon neutrality and expanding the value of mobility.

Under these circumstances, the current forecast of consolidated financial results for the fiscal year ending March 31, 2026 is set forth below. This forecast assumes average exchange rates through the fiscal year of 145 yen per US$1 and 160 yen per 1 euro. The impact of U.S. tariffs on operating income is factored in at 180.0 billion yen as a negative impact of April and May, tentatively.

Forecast of consolidated results for FY2026


Sales revenues	48,500.0 billion yen	(an increase of 1.0% compared with FY2025)

Operating income	3,800.0 billion yen	(a decrease of 20.8% compared with FY2025)

Income before income taxes	4,410.0 billion yen	(a decrease of 31.2% compared with FY2025)

Net income attributable to Toyota Motor Corporation	3,100.0 billion yen	(a decrease of 34.9% compared with FY2025)

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.

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

Basic Concept Regarding the Selection of Accounting Standards

Toyota has adopted IFRS for its consolidated financial statements in order to improve the international comparability of its financial information in the capital markets, among other reasons, beginning with the first quarter of the fiscal year ended March 31, 2021.

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

Unaudited Consolidated Financial Statements

1. Unaudited Consolidated Statement of Financial Position


	Yen in millions
	March 31, 2024			March 31, 2025
Assets
Current assets
Cash and cash equivalents		9,412,060			8,982,404
Trade accounts and other receivables		3,789,429			3,679,722
Receivables related to financial services		11,057,269			11,453,249
Other financial assets		4,702,168			6,935,759
Inventories		4,605,368			4,598,232
Income tax receivable		116,886			216,528
Other current assets		1,031,098			1,212,783

Total current assets		34,714,279			37,078,676

Non-current assets
Investments accounted for using the equity method		5,710,106			5,798,051
Receivables related to financial services		20,637,090			22,171,786
Other financial assets		11,390,559			9,882,841
Property, plant and equipment
Land		1,441,811			1,428,122
Buildings		5,884,749			6,170,063
Machinery and equipment		16,469,032			16,621,243
Vehicles and equipment on operating leases		7,523,911			8,051,945
Construction in progress		1,040,188			1,596,145

Total property, plant and equipment, at cost		32,359,692			33,867,518

Less - Accumulated depreciation and impairment losses		(18,101,905	)		(18,533,826	)

Total property, plant and equipment, net		14,257,788			15,333,693

Right of use assets		532,835			583,068
Intangible assets		1,355,326			1,363,266
Deferred tax assets		502,230			517,869
Other non-current assets		1,014,083			872,101

Total non-current assets		55,400,017			56,522,674

Total assets		90,114,296			93,601,350

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary


	Yen in millions
	March 31, 2024			March 31, 2025
Liabilities
Current liabilities
Trade accounts and other payables		5,251,357			5,527,347
Short-term and current portion of long-term debt		15,406,284			15,829,516
Accrued expenses		1,863,760			1,827,933
Other financial liabilities		1,700,137			1,869,117
Income taxes payable		1,224,542			505,500
Liabilities for quality assurance		1,836,314			1,965,748
Other current liabilities		1,895,516			1,909,059

Total current liabilities		29,177,909			29,434,220

Non-current liabilities
Long-term debt		21,155,496			22,963,363
Other financial liabilities		495,814			435,594
Retirement benefit liabilities		1,077,962			1,019,568
Deferred tax liabilities		2,219,638			1,659,433
Other non-current liabilities		748,139			1,210,260

Total non-current liabilities		25,697,049			27,288,217

Total liabilities		54,874,958			56,722,437

Shareholders’ equity
Common stock		397,050			397,050
Additional paid-in capital		491,802			492,368
Retained earnings		32,795,365			35,841,218
Other components of equity		4,503,756			3,610,133
Treasury stock		(3,966,982	)		(4,415,943	)

Total Toyota Motor Corporation shareholders’ equity		34,220,991			35,924,826

Non-controlling interests		1,018,347			954,088

Total shareholders’ equity		35,239,338			36,878,913

Total liabilities and shareholders’ equity		90,114,296			93,601,350

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2. Unaudited Consolidated Statement of Income and Unaudited Consolidated Statement of Comprehensive Income

Unaudited Consolidated Statement of Income


	Yen in millions
	For the year ended March 31, 2024			For the year ended March 31, 2025
Sales revenues
Sales of products		41,648,130			43,598,877
Financial services		3,447,195			4,437,827

Total sales revenues		45,095,325			48,036,704

Costs and expenses
Cost of products sold		33,600,612			35,510,157
Cost of financial services		2,126,395			2,948,509
Selling, general and administrative		4,015,383			4,782,452

Total costs and expenses		39,742,390			43,241,118

Operating income		5,352,934			4,795,586

Share of profit (loss) of investments accounted for using the equity method		763,137			591,219
Other finance income		747,236			556,700
Other finance costs		(103,709	)		(190,711	)
Foreign exchange gain (loss), net		187,568			705,292
Other income (loss), net		17,918			(43,497	)

Income before income taxes		6,965,085			6,414,590

Income tax expense		1,893,665			1,624,835

Net income		5,071,421			4,789,755

Net income attributable to
Toyota Motor Corporation		4,944,933			4,765,086
Non-controlling interests		126,488			24,670

Net income		5,071,421			4,789,755


	Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted		365.94			359.56

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Unaudited Consolidated Statement of Comprehensive Income


	Yen in millions
	For the year ended March 31, 2024		For the year ended March 31, 2025
Net income		5,071,421		4,789,755
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		557,539		102,129
Remeasurements of defined benefit plans		46,328		(109,598	)
Share of other comprehensive income of equity method investees		156,118		(63,213	)

Total of items that will not be reclassified to profit (loss)		759,984		(70,682	)

Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations		1,178,875		(827,848	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income		12,247		31,158
Share of other comprehensive income of equity method investees		165,996		121,340

Total of items that may be reclassified subsequently to profit (loss)		1,357,118		(675,349	)

Total other comprehensive income, net of tax		2,117,103		(746,031	)

Comprehensive income		7,188,523		4,043,724

Comprehensive income for the period attributable to
Toyota Motor Corporation		6,999,828		4,011,822
Non-controlling interests		188,696		31,903

Comprehensive income		7,188,523		4,043,724

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

3. Unaudited Consolidated Statement of Changes in Equity

For the year ended March 31, 2024


	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				—			4,944,933			—			—			4,944,933			126,488			5,071,421
Other comprehensive income, net of tax		—		—			—			2,054,895			—			2,054,895			62,208			2,117,103

Total comprehensive income		—		—			4,944,933			2,054,895			—			6,999,828			188,696			7,188,523

Transactions with owners and other
Dividends paid		—		—			(880,197	)		—			—			(880,197	)		(90,309	)		(970,506	)
Repurchase of treasury stock		—		—			—			—			(231,069	)		(231,069	)		—			(231,069	)
Reissuance of treasury stock		—		263			—			—			649			911			—			911
Equity transactions and other		—		(7,188	)		—			—			—			(7,188	)		(5,546	)		(12,735	)

Total transactions with owners and other		—		(6,926	)		(880,197	)		—			(230,420	)		(1,117,543	)		(95,856	)		(1,213,398	)

Reclassification to retained earnings		—		—			387,334			(387,334	)		—			—			—			—

Balances at March 31, 2024		397,050		491,802			32,795,365			4,503,756			(3,966,982	)		34,220,991			1,018,347			35,239,338

For the year ended March 31, 2025
	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, 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		—		—			4,765,086			—			—			4,765,086			24,670			4,789,755
Other comprehensive income, net of tax		—		—			—			(753,264	)		—			(753,264	)		7,233			(746,031	)

Total comprehensive income		—		—			4,765,086			(753,264	)		—			4,011,822			31,903			4,043,724

Transactions with owners and other
Dividends paid		—		—			(1,132,329	)		—			—			(1,132,329	)		(127,232	)		(1,259,560	)
Repurchase of treasury stock		—		—			—			—			(1,179,043	)		(1,179,043	)		—			(1,179,043	)
Reissuance of treasury stock		—		1,356			—			—			866			2,222			—			2,222
Retirement of treasury stock		—		(1,953	)		(727,264	)		—			729,217			—			—			—
Equity transactions and other		—		1,163			—			—			—			1,163			31,069			32,232

Total transactions with owners and other		—		567			(1,859,593	)		—			(448,961	)		(2,307,987	)		(96,162	)		(2,404,149	)

Reclassification to retained earnings		—		—			140,359			(140,359	)		—			—			—			—

Balances at March 31, 2025		397,050		492,368			35,841,218			3,610,133			(4,415,943	)		35,924,826			954,088			36,878,913

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

4. Unaudited Consolidated Statement of Cash Flows


	Yen in millions
	For the year ended March 31, 2024			For the year ended March 31, 2025
Cash flows from operating activities
Net income		5,071,421			4,789,755
Depreciation and amortization		2,087,066			2,251,233
Interest income and interest costs related to financial services, net		(713,506	)		(747,742	)
Share of profit (loss) of investments accounted for using the equity method		(763,137	)		(591,219	)
Income tax expense		1,893,665			1,624,835
Changes in operating assets and liabilities, and other		(3,975,836	)		(2,815,549	)
(Increase) decrease in trade accounts and other receivables		(859,239	)		55,139
(Increase) decrease in receivables related to financial services		(3,398,434	)		(2,389,665	)
(Increase) decrease in inventories		(207,529	)		(70,654	)
(Increase) decrease in other current assets		(326,365	)		(462,114	)
Increase (decrease) in trade accounts and other payables		560,737			362,924
Increase (decrease) in other current liabilities		666,513			659,088
Increase (decrease) in retirement benefit liabilities		(161	)		17,377
Other, net		(411,358	)		(987,645	)
Interest received		2,292,156			2,672,724
Dividends received		587,259			623,295
Interest paid		(1,148,392	)		(1,609,083	)
Income taxes paid, net of refunds		(1,124,322	)		(2,501,315	)

Net cash provided by (used in) operating activities		4,206,373			3,696,934

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(1,846,447	)		(1,906,811	)
Additions to equipment leased to others		(2,867,660	)		(2,996,920	)
Proceeds from sales of fixed assets excluding equipment leased to others		154,985			70,821
Proceeds from sales of equipment leased to others		2,008,634			1,707,899
Additions to intangible assets		(334,287	)		(354,196	)
Additions to public and corporate bonds and stocks		(2,972,779	)		(3,965,550	)
Proceeds from sales of public and corporate bonds and stocks		1,201,405			1,035,922
Proceeds upon maturity of public and corporate bonds		1,049,963			2,713,649
Other, net		(1,392,565	)		(494,551	)

Net cash provided by (used in) investing activities		(4,998,751	)		(4,189,736	)

Cash flows from financing activities
Increase (decrease) in short-term debt		401,740			75,675
Proceeds from long-term debt		12,057,349			13,381,581
Payments of long-term debt		(8,752,329	)		(10,872,262	)
Dividends paid to Toyota Motor Corporation common shareholders		(880,197	)		(1,132,329	)
Dividends paid to non-controlling interests		(90,309	)		(127,232	)
Reissuance (repurchase) of treasury stock		(231,069	)		(1,179,043	)
Other, net		(7,627	)		50,845

Net cash provided by (used in) financing activities		2,497,558			197,236

Effect of exchange rate changes on cash and cash equivalents		189,914			(134,089	)

Net increase (decrease) in cash and cash equivalents		1,895,094			(429,656	)

Cash and cash equivalents at beginning of year		7,516,966			9,412,060

Cash and cash equivalents at end of year		9,412,060			8,982,404

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

5. Notes to Unaudited Consolidated Financial Statements

(1) Going Concern Assumption

None

(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 Information

As of and for the year ended March 31, 2024


	Yen in millions
	Automotive		Financial services		All other		Inter-segment Elimination/ Unallocated Amount			Consolidated
Sales revenues
Revenues from external customers		41,080,731		3,447,195		567,399		—			45,095,325
Inter-segment revenues and transfers		185,473		37,003		800,766		(1,023,242	)		—

Total		41,266,204		3,484,198		1,368,164		(1,023,242	)		45,095,325
Operating expenses		36,644,729		2,914,175		1,192,923		(1,009,437	)		39,742,390

Operating income		4,621,475		570,023		175,241		(13,805	)		5,352,934

Total assets		29,351,344		43,834,183		3,011,363		13,917,406			90,114,296
Investments accounted for using the equity method		5,114,364		110,308		282,888		202,546			5,710,106
Depreciation and amortization		1,268,479		784,013		34,574		—			2,087,066
Capital expenditures		2,011,361		2,763,931		103,242		(30,492	)		4,848,042

As of and for the year ended March 31, 2025


	Yen in millions
	Automotive		Financial services		All other		Inter-segment Elimination/ Unallocated Amount			Consolidated
Sales revenues
Revenues from external customers		42,996,299		4,437,827		602,578		—			48,036,704
Inter-segment revenues and transfers		203,566		43,353		844,536		(1,091,455	)		—

Total		43,199,865		4,481,180		1,447,114		(1,091,455	)		48,036,704
Operating expenses		39,259,587		3,797,661		1,265,920		(1,082,050	)		43,241,118

Operating income		3,940,278		683,519		181,194		(9,405	)		4,795,586

Total assets		30,117,987		46,770,786		2,884,421		13,828,157			93,601,350
Investments accounted for using the equity method		5,201,784		112,640		309,121		174,505			5,798,051
Depreciation and amortization		1,378,107		838,167		34,958		—			2,251,233
Capital expenditures		2,193,872		3,687,890		100,941		8,565			5,991,268

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

Unallocated amounts included in assets represent assets held for corporate purpose, which mainly consist of cash and cash equivalents and financial assets measured at fair value through other comprehensive income, and the balances as of March 31, 2024 and March 31, 2025 are 15,790,074 million yen and 15,643,613 million yen, respectively.

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(iii) Consolidated Financial Statements on Non-Financial Services Businesses and Financial Services Business

Consolidated Statement of Financial Position on Non-Financial Services Businesses and Financial Services Business


	Yen in millions
	March 31, 2024			March 31, 2025
Assets
(Non-Financial Services Businesses)
Current assets
Cash and cash equivalents		6,892,817			6,090,957
Trade accounts and other receivable		3,768,520			3,689,021
Other financial assets		3,864,242			6,198,376
Inventories		4,605,368			4,588,755
Other current assets		805,940			1,034,507

Total current assets		19,936,887			21,601,616

Non-current assets
Property, plant and equipment, net		8,680,731			9,134,857
Other		19,123,829			17,556,285

Total non-current assets		27,804,560			26,691,142

Total assets		47,741,447			48,292,758

(Financial Services Business)
Current assets
Cash and cash equivalents		2,519,244			2,891,447
Trade accounts and other receivable		382,007			410,958
Receivables related to financial services		11,057,269			11,453,249
Other financial assets		1,575,059			1,443,042
Other current assets		352,918			414,216

Total current assets		15,886,497			16,612,912

Non-current assets
Receivables related to financial services		20,637,090			22,171,786
Property, plant and equipment, net		5,577,058			6,198,838
Other		1,733,539			1,787,250

Total non-current assets		27,947,687			30,157,874

Total assets		43,834,183			46,770,786

(Elimination)
Elimination of assets		(1,461,335	)		(1,462,194	)
(Consolidated)

Total assets		90,114,296			93,601,350

Note: Assets in non-financial services include unallocated corporate assets.

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary


	Yen in millions
	March 31, 2024			March 31, 2025
Liabilities
(Non-Financial Services Businesses)
Current liabilities
Trade accounts and other payables		4,890,913			5,195,204
Short-term and current portion of long-term debt		929,662			1,188,430
Accrued expenses		1,750,221			1,729,279
Income taxes payable		1,185,678			454,252
Other current liabilities		3,583,929			3,495,075

Total current liabilities		12,340,403			12,062,240

Non-current liabilities
Long-term debt		1,938,535			1,547,461
Retirement benefit liabilities		1,058,742			1,001,227
Other non-current liabilities		2,545,491			2,442,382

Total non-current liabilities		5,542,768			4,991,070

Total liabilities		17,883,171			17,053,309

(Financial Services Business)
Current liabilities
Trade accounts and other payables		651,381			674,347
Short-term and current portion of long-term debt		14,890,892			15,111,977
Accrued expenses		148,767			137,836
Income taxes payable		38,864			51,248
Other current liabilities		2,219,104			2,535,501

Total current liabilities		17,949,008			18,510,910

Non-current liabilities
Long-term debt		19,356,672			21,515,873
Retirement benefit liabilities		19,220			18,341
Other non-current liabilities		1,131,501			1,089,654

Total non-current liabilities		20,507,393			22,623,868

Total liabilities		38,456,401			41,134,778

(Elimination)
Elimination of liabilities		(1,464,614	)		(1,465,650	)
(Consolidated)

Total liabilities		54,874,958			56,722,437

Shareholders’ equity

(Consolidated) Total Toyota Motor Corporation shareholders’ equity		34,220,991			35,924,826

(Consolidated) Non-controlling interests		1,018,347			954,088

(Consolidated) Total shareholders’ equity		35,239,338			36,878,913

(Consolidated) Total liabilities and shareholders’ equity		90,114,296			93,601,350

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

Consolidated Statement of Income on Non-Financial Services Businesses and Financial Services Business


	Yen in millions
	For the year ended March 31, 2024			For the year ended March 31, 2025
(Non-Financial Services Businesses)
Sales revenues		41,832,663			43,787,709
Cost of revenues		33,763,076			35,684,332
Selling, general and administrative		3,278,135			3,984,469

Operating income		4,791,453			4,118,908

Other income (loss), net		1,608,345			1,622,539

Income before income taxes		6,399,798			5,741,447

Income tax expense		1,741,885			1,446,627

Net income		4,657,913			4,294,820

Net income attributable to
Toyota Motor Corporation		4,540,311			4,281,231
Non-controlling interests		117,602			13,589

(Financial Services Business)
Sales revenues		3,484,198			4,481,180
Cost of revenues		2,145,694			2,960,227
Selling, general and administrative		768,481			837,435

Operating income		570,023			683,519

Other income (loss), net		1,762			(10,309	)

Income before income taxes		571,786			673,210

Income tax expense		151,785			178,000

Net income		420,000			495,210

Net income attributable to
Toyota Motor Corporation		411,114			484,129
Non-controlling interests		8,886			11,081

(Elimination)
Elimination of net income		(6,492	)		(274	)
(Consolidated)

Net income		5,071,421			4,789,755

Net income attributable to
Toyota Motor Corporation		4,944,933			4,765,086
Non-controlling interests		126,488			24,670

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TOYOTA MOTOR CORPORATION FY2025 Financial Summary

Consolidated Statement of Cash Flows on Non-Financial Services Businesses and Financial Services Business


	Yen in millions
	For the year ended March 31, 2024			For the year ended March 31, 2025
(Non-Financial Services Businesses)
Cash flows from operating activities
Net income		4,657,913			4,294,820
Depreciation and amortization		1,303,053			1,413,066
Share of profit (loss) of investments accounted for using the equity method		(752,779	)		(579,619	)
Income tax expense		1,741,885			1,446,627
Changes in operating assets and liabilities, and other		120,731			(370,839	)
Interest received		454,713			363,304
Dividends received		582,022			617,644
Interest paid		(104,008	)		(100,770	)
Income taxes paid, net of refunds		(1,033,448	)		(2,347,622	)

Net cash provided by (used in) operating activities		6,970,082			4,736,610

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(1,815,239	)		(1,878,342	)
Additions to equipment leased to others		(153,324	)		(24,855	)
Proceeds from sales of fixed assets excluding equipment leased to others		152,830			68,266
Proceeds from sales of equipment leased to others		47,557			6,035
Additions to intangible assets		(317,606	)		(341,131	)
Additions to public and corporate bonds and stocks		(2,639,166	)		(3,446,017	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds		1,757,282			3,423,102
Other, net		(1,386,377	)		(618,309	)

Net cash provided by (used in) investing activities		(4,354,045	)		(2,811,251	)

Cash flows from financing activities
Increase (decrease) in short-term debt		66,953			(116,549	)
Proceeds from long-term debt		533,333			162,735
Payments of long-term debt		(634,215	)		(306,768	)
Dividends paid to Toyota Motor Corporation common shareholders		(880,197	)		(1,132,329	)
Dividends paid to non-controlling interests		(85,991	)		(122,565	)
Reissuance (repurchase) of treasury stock		(231,069	)		(1,179,043	)
Other, net		(7,570	)		55,560

Net cash provided by (used in) financing activities		(1,238,756	)		(2,638,959	)

Effect of exchange rate changes on cash and cash equivalents		(32,862	)		(88,260	)

Net increase (decrease) in cash and cash equivalents		1,344,419			(801,860	)

Cash and cash equivalents at beginning of year		5,548,398			6,892,817

Cash and cash equivalents at end of year		6,892,817			6,090,957

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	Yen in millions
	For the year ended March 31, 2024			For the year ended March 31, 2025
(Financial Services Business)
Cash flows from operating activities
Net income		420,000			495,210
Depreciation and amortization		784,013			838,167
Interest income and interest costs related to financial services, net		(734,880	)		(769,800	)
Share of profit (loss) of investments accounted for using the equity method		(10,357	)		(11,600	)
Income tax expense		151,785			178,000
Changes in operating assets and liabilities, and other		(4,100,301	)		(2,405,422	)
Interest received		1,858,816			2,332,296
Dividends received		5,236			5,651
Interest paid		(1,065,757	)		(1,531,190	)
Income taxes paid, net of refunds		(90,874	)		(153,692	)

Net cash provided by (used in) operating activities		(2,782,318	)		(1,022,379	)

Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others		(31,208	)		(28,469	)
Additions to equipment leased to others		(2,714,336	)		(2,972,065	)
Proceeds from sales of fixed assets excluding equipment leased to others		2,155			2,555
Proceeds from sales of equipment leased to others		1,961,077			1,701,864
Additions to intangible assets		(16,680	)		(13,064	)
Additions to public and corporate bonds and stocks		(333,613	)		(519,533	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds		494,085			326,469
Other, net		14,732			89,633

Net cash provided by (used in) investing activities		(623,788	)		(1,412,610	)

Cash flows from financing activities
Increase (decrease) in short-term debt		339,666			229,903
Proceeds from long-term debt		11,620,147			13,251,352
Payments of long-term debt		(8,221,432	)		(10,618,851	)
Dividends paid to non-controlling interests		(4,318	)		(4,667	)
Other, net		(57	)		(4,716	)

Net cash provided by (used in) financing activities		3,734,005			2,853,022

Effect of exchange rate changes on cash and cash equivalents		222,776			(45,829	)

Net increase (decrease) in cash and cash equivalents		550,675			372,203

Cash and cash equivalents at beginning of year		1,968,568			2,519,244

Cash and cash equivalents at end of year		2,519,244			2,891,447

(Consolidated)
Effect of exchange rate changes on cash and cash equivalents		189,914			(134,089	)

Net increase (decrease) in cash and cash equivalents		1,895,094			(429,656	)

Cash and cash equivalents at beginning of year		7,516,966			9,412,060

Cash and cash equivalents at end of year		9,412,060			8,982,404

-18-

Table of Contents

TOYOTA MOTOR CORPORATION FY2025 Financial Summary

(iv) Geographic Information

As of and for the year ended March 31, 2024


	Yen in millions
	Japan		North America		Europe		Asia		Other		Inter-segment Elimination/ Unallocated Amount			Consolidated
Sales revenues
Revenues from external customers		10,193,556		17,624,268		5,503,738		7,604,269		4,169,494		—			45,095,325
Inter-segment revenues and transfers		10,827,165		318,805		178,026		1,126,479		220,292		(12,670,767	)		—

Total		21,020,721		17,943,072		5,681,764		8,730,749		4,389,785		(12,670,767	)		45,095,325
Operating expenses		17,536,451		17,436,753		5,293,668		7,865,158		4,191,441		(12,581,079	)		39,742,390

Operating income		3,484,270		506,319		388,096		865,591		198,345		(89,687	)		5,352,934

Total assets		24,711,142		31,886,959		8,749,680		9,096,282		6,167,902		9,502,332			90,114,296
Non-current assets		5,827,404		7,374,724		1,407,680		1,190,348		686,104		—			16,486,260

As of and for the year ended March 31, 2025


	Yen in millions
	Japan		North America		Europe		Asia		Other		Inter-segment Elimination/ Unallocated Amount			Consolidated
Sales revenues
Revenues from external customers		10,719,120		18,930,253		6,110,052		7,903,360		4,373,919		—			48,036,704
Inter-segment revenues and transfers		11,139,974		370,074		203,437		1,084,702		147,338		(12,945,525	)		—

Total		21,859,094		19,300,327		6,313,489		8,988,062		4,521,257		(12,945,525	)		48,036,704
Operating expenses		18,707,971		19,191,519		5,897,936		8,091,552		4,268,632		(12,916,492	)		43,241,118

Operating income		3,151,123		108,808		415,553		896,510		252,626		(29,033	)		4,795,586

Total assets		26,347,925		33,423,938		9,463,797		9,467,913		6,010,880		8,886,897			93,601,350
Non-current assets		6,246,879		7,887,494		1,589,830		1,225,158		754,669		—			17,704,029

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

Non-current assets do not include financial instruments, deferred tax assets, net defined benefit assets and rights arising under insurance contracts.

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.

(v) Sales revenues by location of external customers


	Yen in millions
	For the years ended March 31,
	2024		2025
Japan		7,399,192		7,723,171
North America		17,694,375		18,985,399
Europe		5,396,610		5,979,720
Asia		7,742,141		7,944,206
Other		6,863,007		7,404,208

Total		45,095,325		48,036,704

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

-19-

Table of Contents

TOYOTA MOTOR CORPORATION FY2025 Financial Summary

(3) Earnings Per Share

Reconciliation of the difference between basic and diluted earnings per share attributable to Toyota Motor Corporation are as follows:


	Yen in millions		Thousands of shares		Yen
	Net income attributable to Toyota Motor Corporation		Weighted-average common shares		Earnings per share attributable to Toyota Motor Corporation
For the year ended March 31, 2024
Net income attributable to Toyota Motor Corporation		4,944,933

Basic and Diluted earnings per share attributable to Toyota Motor Corporation		4,944,933		13,512,848		365.94

For the year ended March 31, 2025
Net income attributable to Toyota Motor Corporation		4,765,086

Basic and Diluted earnings per share attributable to Toyota Motor Corporation		4,765,086		13,252,456		359.56

The following table shows Toyota Motor Corporation shareholders’ equity per share. Toyota Motor Corporation shareholders’ equity per share amounts are calculated by dividing Toyota Motor Corporation shareholders’ equity in the consolidated statement of financial position by common shares issued and outstanding at the end of the year (excluding treasury stock).


	Yen in millions		Thousands of shares		Yen
	Toyota Motor Corporation shareholders’ equity		Common shares issued and outstanding at the end of the year (excluding treasury stock)		Toyota Motor Corporation shareholders’ equity per share
As of March 31, 2024		34,220,991		13,474,172		2,539.75
As of March 31, 2025		35,924,826		13,048,930		2,753.09

“Diluted earnings per share attributable to Toyota Motor Corporation” equals “Basic earnings per share attributable to Toyota Motor Corporation” for the years ended March 31, 2024 and 2025, because there were no potential dilutive shares during such periods.

(4) Significant Subsequent Events

Not applicable.

-20-

Table of Contents

Supplemental Material for Financial Results for FY2025 (Consolidated)

< IFRS >


	FY2024															FY2025															FY2026
	1Q (2023/4-6)			2Q (2023/7-9)			3Q (2023/10-12)			4Q (2024/1-3)			12 months (‘23/4-‘24/3)			1Q (2024/4-6)			2Q (2024/7-9)			3Q (2024/10-12)			4Q (2025/1-3)			12 months (‘24/4-‘25/3)			Forecast 12 months (‘25/4-‘26/3)
Vehicle Production (thousands of units)		2,345			2,379			2,444			2,095			9,263			2,186			2,217			2,312			2,334			9,049
(Japan) –including Daihatsu & Hino		1,025			1,090			1,115			813			4,042			901			991			1,052			1,056			4,000
[Daihatsu & Hino]		[190	]		[232	]		[247	]		[65	]		[734	]		[141	]		[219	]		[205	]		[200	]		[764	]
(Overseas) –including Daihatsu & Hino		1,321			1,289			1,328			1,282			5,221			1,285			1,226			1,260			1,278			5,049
[Daihatsu & Hino]		[118	]		[139	]		[134	]		[114	]		[506	]		[106	]		[122	]		[122	]		[108	]		[458	]
North America		520			482			475			499			1,976			523			445			467			522			1,958
Europe		223			161			238			224			846			215			181			206			208			811
Asia		437			498			489			453			1,876			434			466			455			434			1,790
Central and South America		102			105			91			85			383			87			100			101			83			370
Africa		39			44			35			22			140			26			33			31			31			120
Vehicle Sales (thousands of units)		2,326			2,418			2,551			2,148			9,443			2,252			2,304			2,444			2,362			9,362			9,800
(Japan) –including Daihatsu & Hino		532			540			558			363			1,993			421			517			516			536			1,991			2,070
[Daihatsu & Hino]		[134	]		[141	]		[154	]		[48	]		[477	]		[84	]		[136	]		[129	]		[136	]		[485	]		[570	]
(Overseas) –including Daihatsu & Hino		1,794			1,878			1,993			1,784			7,450			1,830			1,787			1,929			1,826			7,372			7,730
[Daihatsu & Hino]		[69	]		[74	]		[64	]		[64	]		[271	]		[61	]		[65	]		[60	]		[55	]		[240	]		[230	]
North America		682			703			776			655			2,816			705			643			695			660			2,703			2,940
Europe		286			270			327			308			1,192			291			256			318			306			1,172			1,220
Asia		417			478			480			428			1,804			436			469			473			460			1,838			1,900
Central and South America		128			126			120			136			510			114			134			127			119			495			520
Oceania		76			87			80			74			318			82			71			80			77			309			270
Africa		59			62			55			46			221			49			56			60			58			224			250
Middle East		143			149			151			136			579			151			157			172			143			622			630
Other		3			2			3			2			10			2			2			2			2			8
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]		2,751			2,845			2,968			2,526			11,090			2,636			2,737			2,922			2,715			11,011			11,200

Supplemental 1

Table of Contents

Supplemental Material for Financial Results for FY2025 (Consolidated)

< IFRS >


	FY2024															FY2025															FY2026
	1Q (2023/4-6)			2Q (2023/7-9)			3Q (2023/10-12)			4Q (2024/1-3)			12 months (‘23/4-‘24/3)			1Q (2024/4-6)			2Q (2024/7-9)			3Q (2024/10-12)			4Q (2025/1-3)			12 months (‘24/4-‘25/3)			Forecast 12 months (‘25/4-‘26/3)
Foreign Exchange Rates
Yen to US Dollar Rate		137			145			148			149			145			156			150			152			153			153			as premise: 145
Yen to Euro Rate		150			157			159			161			157			168			164			163			161			164			as premise: 160
Number of Employees		379,659			381,576			380,737			380,793			380,793			384,954			384,158			384,338			383,853			383,853	(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			11,444.5			12,391.0			12,363.1			48,036.7			48,500.0
Geographic Information
Japan		5,105.5			5,404.7			5,626.8			4,883.5			21,020.7			5,224.0			5,317.3			5,764.8			5,552.7			21,859.0
North America		4,092.0			4,504.2			4,958.1			4,388.6			17,943.0			5,002.4			4,522.9			4,876.1			4,898.7			19,300.3
Europe		1,299.0			1,359.4			1,520.7			1,502.4			5,681.7			1,509.0			1,380.1			1,630.5			1,793.7			6,313.4
Asia		1,964.5			2,346.6			2,371.3			2,048.2			8,730.7			2,231.7			2,238.2			2,323.3			2,194.6			8,988.0
Other		1,024.6			1,165.1			974.0			1,225.9			4,389.7			1,053.8			1,066.6			1,235.0			1,165.7			4,521.2
Elimination		-2,939.0			-3,345.3			-3,410.0			-2,976.3			-12,670.7			-3,183.2			-3,080.7			-3,438.8			-3,242.5			-12,945.5
Business Segment
Automotive		9,687.9			10,477.3			11,065.7			10,035.1			41,266.2			10,759.7			10,332.4			11,249.0			10,858.6			43,199.8
Financial Services		775.1			846.1			922.3			940.4			3,484.1			1,005.3			1,037.6			1,022.9			1,415.2			4,481.1
All Other		306.4			319.2			357.4			385.0			1,368.1			315.6			337.6			393.0			400.7			1,447.1
Elimination		-222.7			-207.9			-304.4			-288.0			-1,023.2			-242.8			-263.2			-273.8			-311.4			-1,091.4
Operating Income (billions of yen)		1,120.9			1,438.3			1,680.9			1,112.6			5,352.9			1,308.4			1,155.7			1,215.2			1,116.0			4,795.5			3,800.0
(Operating Income Ratio) (%)		(10.6	)		(12.6	)		(14.0	)		(10.0	)		(11.9	)		(11.1	)		(10.1	)		(9.8	)		(9.0	)		(10.0	)		(7.8	)
Geographic Information
Japan		701.9			879.1			1,104.1			799.0			3,484.2			881.2			641.1			814.6			814.0			3,151.1
North America		119.6			169.4			227.4			-10.2			506.3			85.0			28.7			58.3			-63.3			108.8
Europe		83.0			99.3			103.1			102.5			388.0			124.6			91.2			157.1			42.4			415.5
Asia		186.2			224.9			238.4			215.9			865.5			245.9			244.4			194.8			211.2			896.5
Other		85.4			104.2			9.2			-0.6			198.3			41.7			98.8			39.0			72.9			252.6
Elimination		-55.4			-38.7			-1.5			5.9			-89.6			-70.2			51.3			-48.8			38.7			-29.0
Business Segment
Automotive		945.6			1,301.6			1,472.6			901.5			4,621.4			1,117.9			949.8			1,006.1			866.3			3,940.2
Financial Services		147.2			97.6			172.0			153.0			570.0			159.7			172.7			163.7			187.2			683.5
All Other		40.2			39.5			44.1			51.2			175.2			40.7			33.2			50.5			56.5			181.1
Elimination		-12.2			-0.4			-7.9			6.8			-13.8			-9.9			-0.1			-5.2			5.9			-9.4
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			99.3			190.4			136.4			591.2			600.0
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			859.8			2,698.0			984.4			6,414.5			4,410.0
(Income before Income Taxes Ratio) (%)		(16.3	)		(15.7	)		(15.2	)		(14.5	)		(15.4	)		(15.8	)		(7.5	)		(21.8	)		(8.0	)		(13.4	)		(9.1	)
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			573.7			2,193.2			664.6			4,765.0			3,100.0
(Net Income Ratio) (%)		(12.4	)		(11.2	)		(11.3	)		(9.0	)		(11.0	)		(11.3	)		(5.0	)		(17.7	)		(5.4	)		(9.9	)		(6.4	)
Dividends
Cash Dividends (billions of yen)		—			405.4			—			606.3			1,011.7			—			525.9			—			652.4			1,178.4	(Note 2)
Cash Dividends per Share (yen)		—			30			—			45			75			—			40			—			50			90			95
Payout Ratio (%)		—			15.6			—			25.7			20.4			—			28.1			—			22.8			25.0			39.9
Value of Shares Repurchased (billions of yen)[actual purchase]		34.3			82.1			75.0			39.4			231.0			18.9			884.4			142.2			133.2			1,179.0	(Note 3)
Value of Shares Repurchased (billions of yen)[shareholder return]		—			99.9			—			1,000.0			1,099.9			—			199.9			—			—			199.9	(Note 3) (Note 4)
Number of Outstanding Shares (thousands)		16,314,987			16,314,987			16,314,987			16,314,987			16,314,987			15,794,987			15,794,987			15,794,987			15,794,987			15,794,987

Supplemental 2

Table of Contents

Supplemental Material for Financial Results for FY2025 (Consolidated)

< IFRS >


	FY2024										FY2025											FY2026
	1Q (2023/4-6)		2Q (2023/7-9)		3Q (2023/10-12)		4Q (2024/1-3)		12 months (‘23/4-‘24/3)		1Q (2024/4-6)		2Q (2024/7-9)		3Q (2024/10-12)		4Q (2025/1-3)		12 months (‘24/4-‘25/3)			Forecast 12 months (‘25/4-‘26/3)
R&D Expenses (billions of yen)		294.8		314.0		289.2		304.2		1,202.3		304.6		334.9		336.8		350.0		1,326.4			1,370.0	(Note 5)
Depreciation Expenses (billions of yen)		298.3		303.2		302.9		343.8		1,248.4		352.3		335.4		335.3		337.4		1,360.5			1,500.0	(Note 6)
Geographic Information
Japan		140.7		139.5		133.6		152.8		566.7		148.6		141.8		143.9		150.1		584.5
North America		79.4		84.5		91.4		122.4		377.8		120.4		114.8		112.8		114.6		462.7
Europe		21.4		23.4		21.3		15.9		82.1		23.4		25.6		25.7		22.1		96.9
Asia		46.1		44.6		45.4		45.4		181.6		48.3		43.0		42.9		42.8		177.1
Other		10.5		11.1		11.0		7.2		40.0		11.4		9.9		9.9		7.7		39.0
Capital Expenditures (billions of yen)		366.6		442.8		486.9		714.4		2,010.8		368.0		443.1		558.7		764.9		2,134.8			2,300.0	(Note 6)
Geographic Information
Japan		144.0		175.2		174.0		354.3		847.6		163.2		198.7		255.4		409.1		1,026.6
North America		154.1		159.5		182.6		226.2		722.5		115.9		173.4		184.6		204.6		678.7
Europe		12.5		28.9		23.4		23.9		88.8		17.4		10.7		15.0		31.3		74.4
Asia		41.1		54.9		89.4		82.7		268.2		52.6		30.6		65.8		58.2		207.4
Other		14.7		24.2		17.3		27.1		83.5		18.6		29.5		37.8		61.5		147.5
Total Liquid Assets (billions of yen)		12,287.8		13,808.6		14,143.6		15,079.5		15,079.5		15,585.7		15,404.1		16,366.2		16,702.4		16,702.4	(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		89,169.2		94,674.4		93,601.3		93,601.3
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		34,368.5		35,910.2		35,924.8		35,924.8
Return on Equity (%)		17.9		16.4		16.9		12.0		15.8		15.2		6.5		25.0		7.4		13.6
Return on Asset (%)		6.8		6.2		6.5		4.6		6.0		5.8		2.5		9.5		2.8		5.2
Number of Consolidated Subsidiaries (including Structured Entities)										577										585
Number of Associates and Joint Ventures Accounted for Using the Equity Method										165										165


Analysis of Consolidated Net Income Attributable to Toyota Motor Corporation for FY2025 (billions of yen, approximately)	4Q (2025/1-3)		12 months (‘24/4-‘25/3)
Marketing Efforts		310.0		145.0
Effects of Changes in Exchange Rates		100.0		590.0
Cost Reduction Efforts		-70.0		0.0
From Engineering		-75.0		-45.0
From Manufacturing and Logistics		5.0		45.0
Increase or Decrease in Expenses and Expense Reduction Efforts		-400.0		-990.0
Other		63.4		-302.3
(Changes in Operating Income)		3.3		-557.3
Non-operating Income		-626.9		6.8
Share of Profit (Loss) of Investments Accounted for Using the Equity Method		-30.4		-171.9
Income tax expense, Net Income Attributable to Non-controlling Interests		290.5		370.6
(Changes in Net Income Attributable to Toyota Motor Corporation)		-332.9		-179.8

Cautionary Statement with Respect to Forward-Looking Statements

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

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 d904529dex992.htm FY2025 PRESENTATION DOCUMENTS AS FILED WITH THE TOKYO STOCK EXCHANGE FY2025 Presentation Documents as filed with the Tokyo Stock Exchange

FY2025 Financial Results CROWN ESTATE Toyota Motor Corporation May 8, 2025

Cautionary Statement with Respect to Forward-Looking Statements and Caution Concerning Insider Trading This presentation contains forward-looking statements that reflect the plans and expectations of Toyota Motor Corporation and its consolidated subsidiaries (“Toyota”). 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), stock prices and interest rates; (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 Motor Corporation’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Caution concerning Insider Trading Under 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 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 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, disclosed such material information to at least two (2) media sources as prescribed by the Regulations. 2

FY2025 Results Summary Continue to invest in future growth based on a robust management foundation Operating income : 4.8 trillion yen ‐Secured a high level of operating income through steady improvement efforts, such as price revision and expansion of value chain earnings, FY2025 while making comprehensive investments that lead to the future and reinforcing Actual our operational foundation ‐We are grateful to all our stakeholders, including suppliers and dealers Operating income : 3.8 trillion yen ‐Reap the benefits of our efforts to reinforce our operational foundation, while continuing comprehensive investments from a mid- to long-term perspective, as FY2026 well as strengthening our management foundation and developing new pillars of Forecast future profits ‐The estimated impact of U.S. tariffs in April and May 2025 have been tentatively factored in. Dividend FY2025 : Full-year 90 yen (+15 yen), year-end 50 yen (+5 yen) Return to FY2026 forecast : Full-year 95 yen (+5 yen) Shareholders ‐Maintain the policy of stable dividend increases to reward our long-term shareholders, even in the face of a decrease in profits 3

FY2025 Financial Performance 4

Consolidated Vehicle Sales (thousands of vehicles) 10,000 9,443 9,362 99.1% Japan 1,993 1,991 8,000 N. America 99.9% Europe 6,000 2,816 2,703 96.0% Asia Other 4,000 1,172 1,192 98.4% Central and South America, 1,838 1,804 101.9% 2,000 Oceania, Africa, 101.3% 1,638 1,659 The Middle East, etc. 0 2023.4-2024.3 2024.4-2025.3 YoY Reference (retail) Toyota and Lexus Vehicle Sales 10,309 10,274 99.7% [37.4%] [46.2%] Electrified Vehicle [%] 3,855 4,748 123.2% HEV 3,594 4,441 123.6% PHEV 141 161 114.3% BEV 117 145 123.9% FCEV 4 1 36.4% Total Retail Vehicle Sales 11,090 11,011 99.3% 5

Consolidated Financial Summary (billions of yen) 2023.4-2024.3 2024.4-2025.3 Change Sales Revenues 45,095.3 48,036.7 +2,941.3 Operating Income 5,352.9 4,795.5 -557.3 Margin 11.9% 10.0% Other Income 1,612.1 1,619.0 +6.8 Share of Profit (Loss) of Investments * 763.1 591.2 -171.9 Accounted for Using the Equity Method Income before Income Taxes 6,965.0 6,414.5 -550.4 Net Income Attributable to 4,944.9 4,765.0 -179.8 Toyota Motor Corporation Margin 11.0% 9.9% US $ 145 yen 153 yen +8 yen FOREX Rates € 157 yen 164 yen +7 yen * Regarding Japan: 407.0 (-6.0 year on year), China: 106.9 (-161.9 year on year), Other: 77.1 (-3.9 year on year) 6

Analysis of Consolidated Operating Income (billions of yen) Excluding the overall impact of foreign exchange rates and swap valuation gains/losses, etc.: +300.0 5,352.9 -352.9 +360.0 -210.0 -339.4 -700.0 +150.0 +535.0 4,795.5 Increase or Market Marketing Decrease in Cost Other Environment, 4,300.0 Efforts Expenses and Reduction etc. Expense Effects of Comprehensive Efforts Reduction Efforts FOREX Investments (Human Resources / Rates Growth Areas) 1. Price revisions 2. Controlling incentives 3. Increasing value chain earnings Forecast in May FY2024 Results FY2025 Results 2024.4- 2025.3 2023.4-2024.3 2024.4- 2025.3 Operating Income 153 yen/US$ (+495.5) 145 yen/US$ 145 yen/US$ 164 yen/ € 160 yen/ € 157 yen/ € 7

Geographic Operating Income Operating Income (billions of yen) (excluding Valuation Gains/Losses relating to Swaps, etc.) [ ] Margin Consolidated Vehicle Sales (thousands of vehicles) Europe Japan N. America Asia Other Incl. China (excl. investments accounted 2,816 for using the equity method of associates (96.0%) 2,703 and joint ventures) (99.9%) 1,993 1,991 (101.9%) 1,838 1,804 (101.3%) 1,659 1,638 1,192 (98.4%) 1,172 -327.5 3,486.2 3,158.7 [16.6%] [14.5%] -420.5 +21.2 +9.2 +46.1 524.9 417.1 407.9 [2.9%] 893.9 240.5 872.7 [6.6%] [7.2%] 194.3 104.3 [9.9%] [10.0%] [5.3%] [4.4%] [0.5%] 2023.4- 2024.4- 2023.4- 2024.4- 2023.4- 2024.4- 2023.4- 2024.4- 2023.4- 2024.4- 2024.3 2025.3 2024.3 2025.3 2024.3 2025.3 2024.3 2025.3 2024.3 2025.3 Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen) 3,484.2 3,151.1 506.3 108.8 388.0 415.5 865.5 896.5 198.3 252.6 8

China Business / Financial Services (Ref.) China Business Financial Services Operating Income of Consolidated Subsidiaries (billions of yen) Operating Income (billions of yen) Share of Profit of Investments Accounted for Using the Equity＊ Excluding Valuation Gains/Losses relating to Swaps, etc. Method of Associates and Joint Ventures (billions of yen) Toyota and Lexus Vehicle Retail Sales (thousands of vehicles) 1,902 (94.1%) 1,789 195.6 -12.9 673.7 Effects of 613.6 +60.1 Marketing Effects of Activities, etc. Increase in Loan Balance, 182.7 etc. 268.9 -162.0 Effects of Marketing 106.9 Activities, etc. 2023.4-2024.3 2024.4-2025.3 Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen) 2024.4-2025.3 2023.4-2024.3 570.0 683.5 9

FY2026 Financial Forecasts 10

FY2026 Forecast: Consolidated Vehicle Sales (thousands of vehicles) 9,800 104.7% 10,000 9,362 Japan 2,070 1,991 104.0% 8,000 N. America Europe 2,940 6,000 2,703 108.8% Asia 1,220 4,000 1,172 104.1% Other Central and 1,900 1,838 103.4% South America, 2,000 Oceania, Africa, 1,659 1,670 100.7% The Middle East, etc. 0 FY25 Results FY26 Forecast YoY 2024.4-2025.3 2025.4-2026.3 Reference (retail) Toyota and Lexus Vehicle Sales 10,274 10,400 101.2% Electrified Vehicles [%] 4,748 [46.2%] 5,184 [49.8%] 109.2% HEV 4,441 4,663 105.0% PHEV 161 209 129.8% BEV 145 310 213.8% FCEV 1 1 100.0% Total Retail Vehicle Sales 11,011 11,200 101.7% 11

FY2026 Forecast: Consolidated Financial Summary FY25 Results FY26 Forecast Change (billions of yen) 2024.4-2025.3 2025.4-2026.3 Sales Revenues 48,036.7 48,500.0 +463.3 Operating Income 4,795.5 3,800.0 -995.5 Margin 10.0% 7.8% Other Income 1,619.0 610.0 -1,009.0 Share of Profit (Loss) of Investments 591.2 600.0 +8.8 Accounted for Using the Equity Method Income before Income Taxes 6,414.5 4,410.0 -2,004.5 Net Income Attributable to 4,765.0 3,100.0 -1,665.0 Toyota Motor Corporation Margin 9.9% 6.4% Dividend per share 90 yen 95 yen +5 yen US $ 153 yen 145 yen -8 yen FOREX Rates € 164 yen 160 yen -4 yen 12

Analysis of FY2026 Forecast: Consolidated Operating Income (vs. FY2025 Results) (billions of yen) +400.0 -745.0 4,795.5 -530.0 One-time Effects of Expenses -470.0 3,800.0 +349.5 FOREX Materials Prices Rates /Tariff Impact Comprehensive Improvement Investment Efforts (Investment in Materials Prices -350.0 Human Tariff Impact -180.0 Resources and Growth Area) Human Resources -245.0 Growth Area -225.0 Cost Reduction +250.0 Volume, Model Mix +260.0 Value Chain Profits +150.0 Other -310.5 FY2025 Results FY2026 New Forecast 2024.4-2025.3 2025.4-2026.3 Operating Income (-995.5) 145 yen/US$ 153 yen/US$ 160 yen/€ 164 yen/€ 13

Toyota’s Profit Structure Operating income improvement after the COVID-19 pandemic 2008.4 - 2009.3 2020.4 - 2021.3 2024.4 - 2025.3 (billions of yen) Consolidated 7.64m 9.36m 7.56m 1,205.0 units units units Vehicle Sales 2,505.0 Operating Income 4,795.5 -0.4t yen 2.2t yen 4.8t yen -2,085.0 -207.1 1,180.0 Break-even -30% compared to Mar. 2009 Volume 2,197.7 A 1.6x in ROE marginal profit per unit -0.4% 10.2% 13 .6% Fixed Marketing Cost Volume FOREX, 2025.3 2021.3 Net Liquid Assets 1.5t yen 8.0t yen 14.4t yen Cost Activities Reduction Materials, etc. Driving Force 2 TPS・Cost Reduction・Suppliers Foundation Product- and Region- Centered Management Driving Force 1 Changes in prices and variations (illustrative) Trends in purchase amount after the COVID-19 pandemic Expanded support to suppliers to Price go beyond the coverage of costs +Investments in Human Resources, Lexus from the increase in such as wage increase GR Selling ever-better cars materials prices. + Logistics costs, Toyota etc. that fit each region, one Cumulative from + Energy costs, etc. 2022.3 to 2025.3 by one, with lower Lexus The cost from the Toyota rapid increase in * incentives materials costs 3.7trillion yen Variation 2024.3 Before 2021.3 2022.3 2023.3 2025.3 *Non-consolidated basis 14

Further Expansion and Stabilization of Profit ◼ Shift to a more stable profit structure leveraging the strength of 150 million UIO －Establish the base for realizing the group vision “Inventing Our Path Forward, * Unit in operation Together” Operating income of new vehicles and value chain (management figures) ・Utilization of SDV New vehicle and other ・Woven City Parts and accessories Others (used vehicle, connected services) Sales finance ・Expansion of maintenance services ・Utilization of connected technologies ・Expand used vehicle and accessories business 2020.3 2021.3 2026.3 Forecast 2022.3 2023.3 2024.3 2025.3 15

Transformation into a Mobility Company : ROE 20% New vehicle focus Mobility company Current (Highly volatile profit) (Profit expansion and stabilization) ROE 14% 20% New areas Develop the business of value chain and new areas 4.8 trillion yen Value Value Value Profit chain chain chain New New New vehicles vehicles vehicles Securing a capital buffer 36 trillion yen Capital Toward a capital structure commensurate with the profit structure 16

Shareholder Return 17

Dividends and Dividend Forecast ◼ The policy to “increase dividends in a stable and continuous manner” in order to reward our long-term shareholders ◼ FY2025 : Full-year 90 yen (+15 yen YoY), year-end 50 yen (+5 yen YoY) ◼ FY2026 forecast : Full-year 95 yen (+5 yen YoY) Although the situation is uncertain due to the impact of U.S. tariffs and other factors affecting performance, we intend to continue to increase dividends 100 95［ Forecast ］+５ +15 90 (yen) 90 80 75 Year-end Dividend* 70 50 Interim Dividend* 50 60 60 52 45 50 35 40 28 30 40 45 20 30 25 24 10 0 ‘25.3 ‘22.3 ‘26.3 ‘23.3 ‘24.3 Total Amount of Dividends Interim 405.4 525.9 - 332.4 342.1 (billions of yen) Total Amount of Dividends Full-Year 718.2 816.9 1,011.7 1,178.4 - (billions of yen) *A five-for-one stock split of shares of our common stock was conducted on October 1, 2021. Calculated on the assumption that the split was made at the 18 beginning of the fiscal year ended March 2022.

Share Repurchases ◼ FY2025 year-end: no share repurchase budget ◼ Depending on the stock price level and other factors, and the need to respond to requests to sell our shares, we will continue to flexibly implement share repurchases in the future 1,200 1,000 (billions of yen) 800 Year-end Resolution Interim Resolution 600 1,000.0 Flexible Resolution 400 No interim 185.6 No year-end repurchases repurchases 149.9 200 99.9 (Resolved in March) 249.9 199.9 149.9 149.9 （Resolved in September） 99.9 0 ‘21.3 ‘22.3 ‘23.3 ‘24.3 ‘25.3 Share Repurchases 249.9 435.6 299.9 1,099.9 199.9 Total Amount of Dividends 671.0 718.2 816.9 1,011.7 1,178.4 Total Shareholder Return 921.0 1,153.8 1,116.9 2,111.7 1,378.4 19

Cycle of Growing Together Growing Together with Our Stakeholders From Now on Optimal mobility Customers Shareholder return Business Investing in Local foundation the future Shareholders communities Paying taxes Suppliers Employees Dealers Aim for stable and continuous wage increases Investment to boost the appeal of the entire auto industry 20 20

(Ref.) Analysis of Consolidated Operating Income (vs. FY2024 Results) Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc.： -845.0 +145.0 -990.0 ± 0.0 +590.0 5,352.9 Cost Marketing -302.3 4,795.5 Efforts *2 Ｒｅｄｕｃｔｉｏｎ Effects of Increase or Efforts FOREX Other *4 Decrease in Rates *1 Expenses and Expense Reduction Efforts *3 Which includes: Strengthening Founda - tion of Suppliers/ Materials Prices -285.0 Cost Reduction +285.0 2023.4-2024.3 2024.4-2025.3 153 yen/US$ 145 yen/US$ Operating Income (-557.3) 164 yen/ € 157 yen/ € *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) +415.0 Volume, Model Mix -20.0 Labor Cost -235.0 Valuation Gains / Losses from Swaps, etc. +53.4 - US $ +410.0 Value Chain +190.0 Depreciation Expenses -5.0 Impact of Inflation Accounting, etc. +69.7 - € +60.0 - Financial Services +25.0 R&D Expenses -130.0 HINO MOTORS Certification Related Expenses -280.5 - Other -55.0 Expenses, etc. -620.0 Other -144.9 - Accessories / Spare Parts / +165.0 Used Vehicle / Connected, etc. Translational FOREX Impact Concerning +175.0 Overseas Subsidiaries, etc. Other -25.0 21

(Ref.) Analysis of Consolidated Operating Income (vs. FY2024 Results) (A) Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc.： -845.0 +145.0 -990.0 ± 0.0 +590.0 5,352.9 Cost Marketing -302.3 4,795.5 Reduction Efforts Effects of Increase or Efforts FOREX Other Decrease in Rates Expenses and Expense Reduction Efforts Which includes: Strengthening Founda - tion of Suppliers/ Materials Prices -285.0 Cost Reduction +285.0 2023.4-2024.3 2024.4-2025.3 Increase or Decrease Cost Marketing Operating Income (-557.3) in Expenses and Reduction Total Expense Reduction Efforts Efforts Efforts (1) Market environment -352.9 -352.9 *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) +415.0 Volume, Model Mix -20.0 Labor Cost -235.0 Valuation Gains / Losses from Swaps, etc. +53.4 (2) Human resources -360.0 -15.0 -95.0 -470.0 - US $ +410.0 Value Chain +190.0 Depreciation Expenses -5.0 Impact of Inflation Accounting, etc. +69.7 (3) Growth investments -275.0 -275.0 - € +60.0 - Financial Services +25.0 R&D Expenses -130.0 HINO MOTORS Certification Related Expenses -280.5 - Other -55.0 Expenses, etc. -620.0 Other -144.9 - Accessories / Spare Parts / +165.0 Used Vehicle / Connected, etc. Translational FOREX Impact Concerning Deduct (1)(2)(3) +1 7from (A) 5.0 +360.0 +512.9 -620.0 +252.9 Overseas Subsidiaries, etc. Other -25.0 22

(Ref.) Analysis of FY2026 Forecast: Consolidated Operating Income (vs. FY2025 Results) Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc： -640.5 -745.0 4,795.5 +410.0 -745.5 -305.0 3,800.0 +390.0 Effects of Cost Marketing FOREX Other *4 Reduction Efforts *2 Increase or Rates *1 Efforts Decrease in Expenses and Which includes: Expense Reduction Strengthening Foundation of Efforts *3 Suppliers/ Materials Prices -545.0 Cost Reduction +240.0 FY2025 Results FY2026 New Forecast 2024.4-2025.3 2025.4-2026.3 Operating Income (-995.5) 145 yen/US$ 153 yen/US$ 160 yen/€ 164 yen/€ *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) -715.0 Volume, Model Mix +260.0 Labor Cost -185.0 Valuation Gains / Losses from Swaps, etc. -10.0 - US $ -400.0 Value Chain +150.0 Depreciation Expenses -175.0 Impact of Inflation Accounting, etc. +33.9 - € -35.0 - Financial Services +30.0 R&D Expenses -40.0 HINO MOTORS Certification Related +280.5 - Other -280.0 Expenses, etc. -345.5 Expenses - Accessories / Spare Parts / +120.0 Used Vehicle / Connected, etc. Other +85.6 Translational FOREX Impact Concerning -30.0 Overseas Subsidiaries, etc. Other ±0.0 23

(Ref.) Analysis of FY2026 Forecast: Consolidated Operating Income (vs. FY2025 Results) (A) Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc： -640.5 4,795.5 -745.0 +410.0 -745.5 -305.0 3,800.0 +390.0 Effects of Cost Marketing FOREX Other Reduction Efforts Increase or Rates Efforts Decrease in Expenses and Which includes: Expense Reduction Strengthening Foundation of Efforts Suppliers/ Materials Prices -545.0 Cost Reduction +240.0 FY2025 Results FY2026 New Forecast 2024.4-2025.3 2025.4-2026.3 Increase or Cost Decrease in Marketing Expenses and Reduction Total Efforts Expense Reduction Efforts Efforts (1) Human resources -205.0 -5.0 -35.0 -245.0 (2) Growth investments -225.0 -225.0 Deduct (1)(2) from (A) -100.0 +415.0 -485.5 -170.5 24

(Ref.) Consolidated Vehicle Sales (3 months) （thousands of vehicles） 110.0% 2,500 2,362 Japan 2,148 147.7% N. America 536 2,000 363 Europe 100.8% 1,500 660 Asia 655 Other 99.5% 1,000 306 308 Central and South America, 107.4% 460 428 Oceania, 500 Africa, The Middle East, 101.5% 394 399 etc. 0 2024.1-3 2025.1-3 YoY Reference (retail) Toyota and Lexus Vehicle Sales 2,401 2,516 104.8% Electrified Vehicles [%] [42.4%] [49.0%] 1,018 1,233 121.1% HEV 948 1,152 121.5% PHEV 39 46 118.5% BEV 30 35 115.3% FCEV 1 0 46.7% Total Retail Vehicle Sales 2,526 2,715 107.5% 25

(Ref.) Consolidated Financial Summary (3 months) (billions of yen) Change 2024.1-3 2025.1-3 Sales Revenues 11,072.6 12,363.1 +1,290.5 Operating Income 1,112.6 1,116.0 +3.3 Margin 10.0% 9.0% Other Income -626.9 495.3 -131.5 Share of Profit (Loss) of Investments ＊ 166.9 136.4 -30.4 Accounted for Using the Equity Method Income before Income Taxes 1,608.0 984.4 -623.5 Net Income Attributable to 997.6 664.6 -332.9 Toyota Motor Corporation Margin 9.0% 5.4% US $ 149 yen 153 yen +4 yen FOREX Rates € ±0 yen 161 yen 161 yen * Regarding Japan: 78.4 (-11.8 year on year), China: 38.3 (-9.7 year on year), Other: 19.6 (-8.9 year on year) 26

(Ref.) Analysis of Consolidated Operating Income (3 months) Excluding the overall impact of foreign exchange (billions of yen) rates and swap valuation gains/losses, etc.： -160.0 -400.0 +310.0 +100.0 -70.0 1,116.0 1,112.6 +63.4 Marketing Cost Effects of Other *4 Increase or Efforts *2 Reduction FOREX Decrease in Efforts Rates *1 Expenses and Expense Reduction Which includes: Efforts *3 Strengthening Foundation of Suppliers/ -135.0 Materials Prices Cost Reduction +65.0 2024.1-3 2025.1-3 149 yen/US$ 153 yen/US$ Operating Income (+3.3) 161 yen/€ 161 yen/€ *1 Details *2 Details *3 Details *4 Details Transactional (Imports/Exports) -10.0 Volume, Model Mix +305.0 Labor Cost -20.0 Valuation Gains / Losses from Swaps, etc. +23.7 - US $ +50.0 Value Chain +55.0 Depreciation Expenses +25.0 Impact of Inflation Accounting, etc. +21.7 - € -5.0 - Financial Services -10.0 R&D Expenses -65.0 Other +18.0 - Other -55.0 Expenses, etc. -340.0 - Accessories / Spare Parts / +65.0 Used Vehicle / Connected, etc. Translational FOREX Impact Concerning +110.0 Overseas Subsidiaries, etc. Other -50.0 27

(Ref.) Geographic Operating Income (3 months) Operating Income (billions of yen) (excluding Valuation Gains/Losses relating to Swaps, etc.) [ ] Margin Consolidated Vehicle Sales (thousands of vehicles) N. America Japan Europe Asia Other Incl. China (excl. investments accounted for using the equity method of associates (100.8%) 660 and joint ventures) 655 (147.7%) 536 (107.4%) 460 （101.5%） 428 399 394 363 308 (99.5%) 306 +17.5 817.4 799.9 [16.4%] [14.7%] +67.5 -58.0 -7.7 -72.3 99.1 71.6 220.9 213.2 [6.6%] 41.0 [6.1%] -99.9 -27.5 [10.8%] [9.7%] 4.1 [2.3%] [-2.0%] [-0.6%] [0.3%] [8.3%] 2024.1-3 2025.1-3 2024.1-3 2025.1-3 2024.1-3 2024.1-3 2025.1-3 2025.1-3 2024.1-3 2025.1-3 Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen) 799.0 814.0 -10.2 -63.3 102.5 42.4 215.9 211.2 -0.6 72.9 28

(Ref.) China Business / Financial Services (3 months) (Ref.) China Business Financial Services Operating Income of Consolidated Subsidiaries (billions of yen) Operating Income (billions of yen) Share of Profit of Investments Accounted for Using the Equity ＊ Excluding Valuation Gains/Losses relating to Swaps, etc. Method of Associates and Joint Ventures (billions of yen) Toyota and Lexus Vehicle Retail Sales (thousands of vehicles) 374 (103.4%) 387 56.9 +0.4 57.3 153.4 142.9 +10.5 48.0 -9.7 38.3 2024.1-3 2025.1-3 Operating Income including Valuation Gains/Losses relating to Swaps, etc. (billions of yen) 2024.1-3 2025.1-3 153.0 187.2 29

*1 (Ref.) Transition of ROE 18.0% 15.8% 16.0% 13.9% 13.8% 13.7% 13.7% 13.6% 14.0% 12.0% 11.5% 10.6% 10.2% 10.0% 9.8% 10.0% Cost of Equity 9.0% *2 Approximately 6-10% 8.5% 8.0% 6.0% 3.9% 4.0% 2.7% 2.1% 2.0% 0.0% 10.3 11.3 12.3 13.3 14.3 15.3 16.3 17.3 18.3 19.3 20.3 21.3 22.3 23.3 24.3 25.3 ＊1 ’10.3-’19.3： US GAAP,’20.3-’25.3：IFRS ＊2 Our estimation based on Capital Asset Pricing Model 30

(Ref.) Transition of Financial Performance Net Income Attributable to Consolidated Vehicle Sales Sales Revenues Operating Income (trillions of yen) (billions of yen) Toyota Motor Corporation (thousands of vehicles) Operating Margin (%) (billions of yen) 48.5 48.0 9,800 11.9 Net Margin (%) 45.0 9,443 9,362 10.0 8,822 9.5 11.0 8,230 7.8 9.9 9.1 7.3 37.2 6.6 6.4 5,352.9 4,795.5 4,944.9 4,765.0 31.3 3,800.0 3,100.0 2,995.6 2,725.0 2,850.1 2,451.3 2022.3 2023.3 2024.3 2025.3 2026.3 2022.3 2023.3 2024.3 2025.3 2026.3 2022.3 2023.3 2024.3 2025.3 2026.3 2022.3 2023.3 2024.3 2025.3 2026.3 1 4 Total Liquid Assets* Total Shareholder Return (billions of yen) Capital Expenditures R&D Expenses* (billions of yen) (billions of yen) (billions of yen) Depreciation Expenses Ratio to Sales Revenues (%) 3 Dividend per Share (yen) * 16,702.4 2,300.0 15,079.5 (Forecast ) 3.6 90 95 3.3 2,134.8 75 Interest- 60 52 2.8 2.8 2,010.8 2.7 Bearing 2,111.7 11,313.7 *2 Debt 10,517.3 1,370.0 1,326.4 Share 1,605.8 1,241.6 1,202.3 14,465.0 Repurchase 1,124.2 1,500.0 1,378.4 Net Liquid 1,343.0 12,651.6 1,360.5 Assets 1,153.8 1,116.9 1,248.4 9,027.7 1,185.0 8,341.3 1,007.2 1,178.4 Dividend 1,011.7 816.9 718.2 2022.3 2023.3 2024.3 2025.3 2022.3 2023.3 2024.3 2025.3 2026.3 2022.3 2023.3 2024.3 2025.3 2026.3 2022.3 2023.3 2024.3 2025.3 2026.3 *1 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. *2 Not including lease liabilities Forecast *3 Dividends 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 *4 R&D activity related expenditures incurred during the reporting period 31

Toyota & Lexus (Ref.) FY2026 Forecast: Vehicle Production and Retail Sales FY25 Results (thousands of vehicles) FY26 Forecast Change 2024.4-2025.3 2025.4-2026.3 Japan 3,236 3,350 +114 Vehicle 生産 Overseas 6,443 6,650 +207 Production * Total 9,679 10,000 +321 Japan 1,505 1,500 ‐5 Retail Overseas Vehicle 8,768 8,900 +132 Sales * Total 10,274 10,400 +126 * Total Retail Vehicle Sales +189 11,011 11,200 * Including vehicles by Toyota’s unconsolidated entities 32

Customers Total Retail Vehicle Sales Toyota and Lexus Vehicle Sales Distributors or Dealers outside consolidation Consolidated Vehicle Sales (Ref.) Definitions of Consolidated and Retail Vehicle Sales Daihatsu- and Hino- brand vehicles Number of vehicles produced for wholesale by Toyota Motor Corporation and its consolidated subsidiaries Number of vehicles produced for wholesale by Toyota’s 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. 33

EX-99.3 4 d904529dex993.htm NOTICE CONCERNING THE HOLDING OF ORDINARY GENERAL SHAREHOLDER'S MEETING Notice Concerning the Holding of Ordinary General Shareholder's Meeting

(Reference Translation)

(For reference)

May 8, 2025

Toyota Motor Corporation

Holding of Ordinary General Shareholders’ Meeting


1. Date and Time:		10:00 a.m., Thursday, June 12, 2025 (Japan Time)

2. Venue:		Toyota Head Office, 1, Toyota-cho, Toyota City, Aichi Prefecture

3. Meeting Agenda:

Reports:

Reports on business review, consolidated and unconsolidated financial statements for FY2025 (April 1, 2024 through March 31, 2025) and report by the Accounting Auditor and the Audit & Supervisory Board on the audit results of the consolidated financial statements for FY2025.

Resolutions:


Proposed Resolution 1:		Partial Amendments to the Articles of Incorporation

Proposed Resolution 2:		Election of 6 Members of the Board of Directors (Excluding Directors who are Audit & Supervisory Committee Members)

Proposed Resolution 3:		Election of 4 Members of the Board of Directors who are Audit & Supervisory Committee Members

Proposed Resolution 4:		Determination of Amount of Compensation for Members of the Board of Directors (Excluding Audit and Supervisory Committee Members)

Proposed Resolution 5:		Determination of Amount of Compensation for Members of the Board of Directors Serving as the Audit and Supervisory Committee Members

Proposed Resolution 6:		Determination of the Amount and Content of Restricted Share Compensation for Members of the Board of Directors (Excluding Outside Members of the Board of Directors and Audit and Supervisory Committee Members)

EX-99.4 5 d904529dex994.htm NOTICE CONCERNING THE DISPOSTION OF TREASURY STOCK Notice Concerning the Dispostion of Treasury Stock

[Reference Translation]

May 8, 2025


		Company name:		TOYOTA MOTOR CORPORATION
		Representative:		Koji Sato, President
				(Code number:7203; TSE Prime/NSE Premier)
		Inquiries:		Yoshihide Moriyama, General Manager, Capital Strategy & Affiliated Companies Finance Div.
				(Telephone: 0565-28-2121)

Notice Concerning the Disposition of Treasury Stock

under the Restricted Stock Compensation Plan

We hereby inform, as set forth below, that, at the meeting of the Board of Directors held today (the “Resolution Date”), Toyota Motor Corporation (“TMC”) announces that it has decided to dispose of its treasury stock (the “Disposition of Treasury Stock”) as follows.

1. Outline of the Disposal


(1)	Payment date	June 30, 2025

(2)	Class and number of shares to be disposed	689,400 shares of common stock of TMC

(3)	Disposal price	2,706 yen per share

(4)	Total value of the disposal	1,865,516,400 yen

			Number of allottees	Number of shares

(5)	Recipients of the treasury stock to be disposed of (allottees of shares)	Members of the Board of Directors as of the payment date (excluding Outside Members of the Board of Directors and Audit and Supervisory Committee Members)	4	628,000 shares
		Operating Officers of TMC who do not also serve as a member of the Board of Directors as of the date referred above	4	61,400 shares

(6)	Others	Regarding the Disposition of Treasury Stock, an Extraordinary Report in accordance with the Financial Instruments and Exchange Act has been filed.

2. Purposes and Reasons of the Disposal

TMC has resolved at the Meeting of the Board of Directors held on May 8, 2019 to newly introduce a restricted stock compensation plan (the “Plan”) for the members of the Board of Directors of TMC (excluding outside members of the Board of Directors) and the Operating Officers of TMC who do not also serve as a member of the Board of Directors to work to improve the medium- to long-term corporate value of TMC, and to promote management from the same viewpoint as our shareholders with a stronger sense of responsibility as a corporate manager, and at the 115th Ordinary General Meeting of Shareholders held on June 13, 2019, among other matters, share compensation was approved by the shareholders to set a maximum amount of 4.0 billion yen per year and a maximum of 800,000 shares per year for the number of shares to be allotted as restricted stock for the Board of Directors of TMC (excluding outside members of the Board of Directors).

In addition, at the 118th Ordinary General Meeting of Shareholders held on June 15, 2022, share compensation was approved by the shareholders to set a maximum amount of 4,000,000 shares per year for the number of shares to be allotted as restricted stock for the Board of Directors of TMC (excluding outside members of the Board of Directors) due to a 5-for-1 stock split as of October 1, 2021.

If Proposed Resolution 1, “Partial Amendments to the Articles of Incorporation,” is approved and passed as originally proposed at the 121st Ordinary General Meeting of Shareholders to be held on June 12, 2025, TMC will transition to a company with an Audit and Supervisory Committee. In addition, if Proposed Resolution 6, “Determination of the Amount and Content of Restricted Share Compensation for Members of the Board of Directors (Excluding Outside Members of the Board of Directors and Audit and Supervisory Committee Members)” is approved and passed as originally proposed, TMC will seek approval to establish a stock compensation maximum amount of up to 4.0 billion yen per year and of 4 million shares per year for the number of shares to be allotted as restricted stock for the Board of Directors of TMC (excluding Outside Members of the Board of Directors and Audit and Supervisory Committee Members). If approved, the recipients of the treasury stock to be disposed of on the payment date of the Disposition of Treasury Stock will be as described in 1.

3. Outline of the Plan and the allocation contract of the restricted stock (the “Allocation Contract”)


Eligible Persons		Members of the Board of Directors of TMC (excluding Outside Members of the Board of Directors and Audit and Supervisory Committee Members) and Operating Officers of TMC who do not also serve as a member of the Board of Directors

Amount of the share compensation payable to each Eligible Person		Set each year considering factors such as corporate results, duties, and performance

Type of shares to be allotted and method of allotment		Issuance or disposal of common shares (with transfer restrictions under an allotment agreement)

Amount to be paid for each share		Determined by the Board of Directors of TMC based on the closing price of TMC’s common shares on the Tokyo Stock Exchange on the business day prior to each resolution of the Board of Directors, within a range that is not particularly advantageous to the Eligible Persons

Transfer restriction period		A period of between 3 and 50 years, as determined by the Board of Directors of TMC

Conditions for removal of transfer restrictions		Restrictions will be removed upon the expiration of the transfer restriction period However, restrictions on all of the allotted shares which the Eligible Person have will also be removed in the case of resignation from the position of member of the Board of Directors or an Operating Officer who does not also serve as a member of the Board of Directors of TMC due to expiration of the term of office or other legitimate reasons

Gratis acquisition by TMC		TMC will naturally acquire at no cost all of the allotted shares for which the transfer restrictions have not been lifted at the time of the expiration of the transfer restriction period, or at the time of the lifting of the transfer restrictions stipulated. Other grounds for gratis acquisition shall be stipulated by the Allocation Contract of the restricted stock based on a resolution of the Board of Directors of TMC

*The above is a summary of the Plan and the Allocation Contract after the 121st Ordinary General Meeting of Shareholders to be held on June 12, 2025.

This time, after consideration of the objectives of the Plan, TMC’s business performance, the scope of duties of the Eligible Persons and various factors, TMC decided to pay a total amount of 1,865,516,400 yen in monetary compensation claims (the “Monetary Compensation Claims”) for the granting of 689,400 common shares of TMC (the “Number of Shares to Be Allotted”).

Based on the Plan, the 8 Eligible Persons who are the expected allottees of shares will pay in as property contributed in kind all the Monetary Compensation Claims and receive the disposal of common shares of TMC (the “Allotted Shares”) upon the Disposition of Treasury Stock, and the transfer restriction period is 50 years (June 30, 2025 – June 30, 2075).

In addition, the Allocation Contract contains a clawback provision stating that TMC can mandatorily recover the resulting overpaid portion of performance-based remuneration from incumbent or retired Eligible Persons who received such remuneration, if TMC is required, in connection with financial reporting requirements under applicable laws and regulations, to restate its past financial statements.

To prevent the transfer, creation of a security interest on, or disposal of the Allotted Shares for as long as the restrictions are in effect, the Eligible Persons deposit the Allotted Shares in dedicated accounts with Nomura Securities Co., Ltd. for the administration during the transfer restriction period.

4. Basis for calculating the amount to be paid for each share and other specific details

The Disposition of Treasury Stock to the expected allottees of shares will be made by way of in-kind contribution of the Monetary Compensation Claims paid for granting restricted shares under the Plan for TMC’s 121st business term. To avoid issuing the shares based on arbitrary decisions on price, the closing price of the common shares of TMC on the Prime Market of the Tokyo Stock Exchange of 2,706 yen on May 7, 2025 (the business day immediately prior to the Resolution Date), is taken to be the disposal price. Since this was the market price immediately before the date of the resolution of the Board of Directors, it is believed to be reasonable and not to be particularly advantageous. In addition, the Number of Shares to Be Allotted were determined at the Executive Compensation Meeting held on April 22, 2025.

End of document

EX-99.5 6 d904529dex995.htm NOTICE CONCERNING THE PARTIAL AMENDMENTS TO THE ARTICLES OF INCORPORATION Notice Concerning the Partial Amendments to the Articles of Incorporation

[Reference Translation]

May 8, 2025

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: +81-565-28-2121)

Notice Concerning Partial Amendments to the Articles of Incorporation

At the Board of Directors meeting held on May 8, 2025, Toyota Motor Corporation (“TMC”) has resolved to propose the “Matter of Partial Amendments to Articles of Incorporation” at its 121st Ordinary General Meeting of Shareholders scheduled to be held on June 2025, as described below.

1.	Reason for Amendments to Articles of Incorporation

As announced in the “Notification of Transition to a Company with an Audit and Supervisory Committee” dated February 25, 2025, TMC has decided to transition from a Company with an Audit and Supervisory Board to a Company with Audit and Supervisory Committee.

With TMC’s transition from a company with an Audit and Supervisory Board to a company with an Audit and Supervisory Committee, all members of the Board of Directors will be able to join discussions without constraint based on inside/outside roles or titles. This will encourage full participation and reinvigorate the Board. Additionally, TMC will promote faster decision-making by delegating authority to executive management and strengthen the monitoring functions of the Board of Directors.

This proposed resolution seeks to make changes to the Articles of Incorporation necessitated by the transition, including establishing new provisions regarding the Audit and Supervisory Committee and its members, deleting provisions regarding the Audit and Supervisory Board and its members, as well as establishing new provisions regarding the delegation of important business execution decisions.

2.	Details of Amendments to Articles of Incorporation

The details of the amendments are as described in the Exhibit.

Schedule

●	Date of General Meeting of Shareholders for Amendments to the Articles of Incorporation:

June 12, 2025 (Scheduled)

●	Effective Date of Amendments to the Articles of Incorporation:

June 12, 2025 (Scheduled)

-End-

Exhibit

(Underlined part indicates amendment)


Current Articles of Incorporation		Proposed Amendments
Article 8. (Transfer Agent) 1. (Omitted)		Article 8. (Transfer Agent) 1. (The same as the current provisions)
2. The transfer agent and the location of its office shall be designated by a resolution of the Board of Directors, and public notice thereof shall be given.		2. The transfer agent and the location of its office shall be designated by a resolution of the Board of Directors or by the Director(s) delegated by a resolution of the Board of Directors, and public notice thereof shall be given.

3. (Omitted)		3. (The same as the current provisions)

Article 9. (Share Handling Regulations) The procedures for and fees for the entry or recording into the register of shareholders and the register of stock acquisition rights, purchasing shares constituting less than one unit (tangen) and any other matters relating to the handling of shares and stock acquisition rights shall be subject to the Share Handling Regulations established by the Board of Directors.		Article 9. (Share Handling Regulations) The procedures for and fees for the entry or recording into the register of shareholders and the register of stock acquisition rights, purchasing shares constituting less than one unit (tangen) and any other matters relating to the handling of shares and stock acquisition rights shall be subject to the Share Handling Regulations established by the Board of Directors or by the Director(s) delegated by a resolution of the Board of Directors.

CHAPTER IV. MEMBERS OF THE BOARD OF DIRECTORS AND BOARD OF DIRECTORS		CHAPTER IV MEMBERS OF THE BOARD OF DIRECTORS, BOARD OF DIRECTORS AND AUDIT & SUPERVISORY COMMITTEE

Article 16. (Number of Directors) 1. (Omitted)		Article 16. (Number of Directors) 1. (The same as the current provisions)

(Newly established)		2. Of the Directors referred to in the preceding paragraph, the Corporation shall have no more than seven (7) Directors who are Audit & Supervisory Committee Members.

Article 17. (Election of Directors) 1. Directors shall be elected by a resolution of a general meeting of shareholders.		Article 17. (Election of Directors) 1. Directors shall be elected by a resolution of a general meeting of shareholders, which should be implemented by distinguishing between the Directors who are Audit & Supervisory Committee Members and other Directors.

2 - 3. (Omitted)		2 - 3. (The same as the current provisions)

Article 18. (Term of Office of Directors) 1. The term of office of Directors shall expire at the closing of the ordinary general meeting of shareholders to be held for the last business year of the Corporation ending within one (1) year after their election.		Article 18. (Term of Office of Directors) 1. The term of office of Directors (excluding the Directors who are Audit & Supervisory Committee Members) shall expire at the closing of the ordinary general meeting of shareholders to be held for the last business year of the Corporation ending within one (1) year after their election.


Current Articles of Incorporation		Proposed Amendments
2. The term of office of any Director elected in order to increase the number of Directors or to fill a vacancy shall be the balance of the term of office of the other Directors who hold office at the time of his/ her election.		2. The term of office of any Director (excluding the Directors who are Audit & Supervisory Committee Members) elected in order to increase the number of Directors or to fill a vacancy shall be the balance of the term of office of the other Directors who hold office at the time of his/ her election.

(Newly established)		3. The term of office of the Directors who are Audit & Supervisory Committee Members shall expire at the closing of the ordinary general meeting of shareholders to be held for the last business year of the Corporation ending within two (2) years after their election.

(Newly established)		4. The term of office of any Audit & Supervisory Committee Member elected to fill a vacancy of the Directors who are Audit & Supervisory Committee Members and retire before the expiration of the term of office shall be the balance of the term of office of the Audit & Supervisory Committee Member whom he/she succeeds.

Article 19. (Board of Directors) 1. (Omitted)		Article 19. (Board of Directors) 1. (The same as the current provisions)

2. Notice of a meeting of the Board of Directors shall be dispatched to each Director and each Audit & Supervisory Board Member at least three (3) days before the date of the meeting. In case of urgency, however, such period may be shortened.		2. Notice of a meeting of the Board of Directors shall be dispatched to each Director at least three (3) days before the date of the meeting. In case of urgency, however, such period may be shortened.

3. With respect to matters to be resolved by the Board of Directors, the Corporation shall deem that such matters were approved by a resolution of the Board of Directors when all the Directors express their agreement in writing or by electronic records. Provided, however, that this provision shall not apply when any Audit & Supervisory Board Member expresses his/her objection to such matters.		3. With respect to matters to be resolved by the Board of Directors, the Corporation shall deem that such matters were approved by a resolution of the Board of Directors when all the Directors express their agreement in writing or by electronic records.

4. (Omitted)		4. (The same as the current provisions)

(Newly established)		Article 20 (Delegation of Decisions on Execution of Important Operations) Pursuant to the provisions of Article 399-13, Paragraph 6 of the Companies Act, the Corporation, by a resolution of the Board of Directors, shall be entitled to delegate all or a portion of the decisions concerning the execution of important operations (excluding the matters set out in the respective items of Paragraph 5 of that same article) to the Directors.

Article 20. (Representative Directors and Executive Directors) 1. The Board of Directors shall designate one or more Representative Directors by its resolution.		Article 21. (Representative Directors and Executive Directors) 1. The Board of Directors shall designate one or more Representative Directors from among the Directors (excluding the Directors who are Audit & Supervisory Committee Members) by its resolution.

2. (Omitted)		2. (The same as the current provisions)


Current Articles of Incorporation		Proposed Amendments

Article 21 - 23. (Omitted)		Article 22 - 24. (The same as the current provisions)

(Newly established)		Article 25. (Audit & Supervisory Committee) 1. The Corporation shall have an Audit & Supervisory Committee.

(Newly established)		2. Notice of a meeting of the Audit & Supervisory Committee shall be dispatched to each Audit & Supervisory Committee Member at least three (3) days before the date of the meeting. In case of urgency, however, such period may be shortened.

(Newly established)		3. In addition to the provisions of the preceding paragraph, the management of the Audit & Supervisory Committee shall be subject to the Regulations of the Audit & Supervisory Committee established by the Audit & Supervisory Committee.

(Newly established)		Article 26. (Full-time Audit & Supervisory Committee Member) The Audit & Supervisory Committee may, by its resolution, select one or more full-time Audit & Supervisory Committee Members.

CHAPTER V. AUDIT & SUPERVISORY BOARD MEMBERS AND AUDIT & SUPERVISORY BOARD		(Deleted)

Article 24. (Establishment of Audit & Supervisory Board Members and Number of Audit & Supervisory Board Members) The Corporation shall have no more than seven (7) Audit & Supervisory Board Members.		(Deleted)

Article 25. (Election of Audit & Supervisory Board Members) 1. Audit & Supervisory Board Members shall be elected by a resolution of a general meeting of shareholders.		(Deleted)

2. A resolution for the election of Audit & Supervisory Board Members shall be adopted by a majority vote of the shareholders present at the meeting who hold shares representing in aggregate not less than one-third (1/3) of the voting rights of all the shareholders who are entitled to vote.		(Deleted)

Article 26. (Term of Office of Audit & Supervisory Board Members) 1. The term of office of Audit & Supervisory Board Members shall expire at the closing of the ordinary general meeting of shareholders to be held for the last business year of the Corporation ending within four (4) years after their election.		(Deleted)

2. The term of office of any Audit & Supervisory Board Member elected to fill a vacancy shall be the balance of the term of office of the Audit & Supervisory Board Member whom he/she succeeds.		(Deleted)


Current Articles of Incorporation		Proposed Amendments

Article 27. (Audit & Supervisory Board) 1. The Corporation shall have an Audit & Supervisory Board.		(Deleted)

2. Notice of a meeting of the Audit & Supervisory Board shall be dispatched to each Audit & Supervisory Board Members at least three (3) days before the date of the meeting. In case of urgency, however, such period may be shortened.		(Deleted)

3. In addition to the provisions of the preceding paragraph, the management of the Audit & Supervisory Board shall be subject to the Regulations of the Audit & Supervisory Board established by the Audit & Supervisory Board.		(Deleted)

Article 28. (Full-time Audit & Supervisory Board Member) The Audit & Supervisory Board shall, by its resolution, select one or more full-time Audit & Supervisory Board Members.		(Deleted)

Article 29. (Exemption from Liability of Audit & Supervisory Board Members) In accordance with the provisions of Article 426, Paragraph 1 of the Companies Act, the Corporation may, by a resolution of the Board of Directors, exempt Audit & Supervisory Board Members (including former Audit & Supervisory Board Members) from liabilities provided for in Article 423, Paragraph 1 of the Companies Act within the limits stipulated by laws and regulations.		(Deleted)

Article 30. (Limited Liability Agreement with Audit & Supervisory Board Members) In accordance with the provisions of Article 427, Paragraph 1 of the Companies Act, the Corporation may enter into an agreement with Audit & Supervisory Board Members limiting liabilities provided for in Article 423, Paragraph 1 of the Companies Act; provided, however, that the limit of the liability under the agreement shall be the minimum amount of liability stipulated by laws and regulations.		(Deleted)
CHAPTER VI. ACCOUNTING AUDITOR		CHAPTER V. ACCOUNTING AUDITOR

Article 31. (Omitted)		Article 27. (The same as the current provisions)

CHAPTER VII. ACCOUNTS		CHAPTER VI. ACCOUNTS

Article 32 - 34. (Omitted)		Article 28 - 30. (The same as the current provisions)

(Newly established)		Supplementary Provisions (Transitional Measures Related to Exemption of Audit & Supervisory Board Members from Liability) In accordance with the provisions of Article 426, Paragraph 1 of the Companies Act, regarding actions taken prior to the effectiveness of the partial amendments to the Articles of Incorporation resolved at the 121st Ordinary General Meeting of Shareholders, the Corporation may, by a resolution of the Board of Directors, exempt Audit & Supervisory Board Members (including former Audit & Supervisory Board Members) from the liabilities provided for in Article 423, Paragraph 1 of the Companies Act within the limits stipulated by laws and regulations.