3.

Consolidated Financial Statements

 TOYOTA MOTOR CORPORATION FY2018 Financial Summary

3. Consolidated Financial Statements

(1) Consolidated Balance Sheets

(Yen in millions)

FY2017 FY2018 Increase

(March 31, 2017) (March 31, 2018) (Decrease)

Assets
Current assets:
Cash and cash equivalents 2,995,075 3,052,269 57,194
Time deposits 1,082,654 901,244 (181,410)
Marketable securities 1,821,598 1,768,360 (53,238)
Trade accounts and notes receivable,
2,115,938 2,219,562 103,624
less allowance for doubtful accounts of
¥50,110 million at March 31, 2017 and
¥25,925 million at March 31, 2018
Finance receivables, net 6,196,649 6,348,306 151,657
Other receivables 436,867 489,338 52,471
Inventories 2,388,617 2,539,789 151,172
Prepaid expenses and other current assets 796,297 833,788 37,491
Total current assets 17,833,695 18,152,656 318,961
Noncurrent finance receivables, net 9,012,222 9,481,618 469,396
Investments and other assets:
Marketable securities and other securities
7,679,928 7,999,323 319,395
investments
Affiliated companies 2,845,639 3,162,917 317,278
Employees receivables 25,187 22,562 (2,625)
Other 1,156,406 1,221,500 65,094
Total investments and other assets 11,707,160 12,406,302 699,142
Property, plant and equipment:
Land 1,379,991 1,404,611 24,620
Buildings 4,470,996 4,659,753 188,757
Machinery and equipment 11,357,340 11,535,381 178,041
Vehicles and equipment on operating leases 5,966,579 5,934,393 (32,186)
Construction in progress 474,188 509,851 35,663
Total property, plant and equipment, at cost 23,649,094 24,043,989 394,895
Less Accumulated depreciation (13,451,985) (13,776,316) (324,331)
Total property, plant and equipment, net 10,197,109 10,267,673 70,564
Total assets 48,750,186 50,308,249 1,558,063
 TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(Yen in millions)

FY2017 FY2018 Increase

(March 31, 2017) (March 31, 2018) (Decrease)

Liabilities
Current liabilities:
Short-term borrowings 4,953,682 5,154,913 201,231
Current portion of long-term debt 4,290,449 4,186,277 (104,172)
Accounts payable 2,566,382 2,586,657 20,275
Other payables 936,938 1,048,216 111,278
Accrued expenses 3,137,827 3,104,260 (33,567)
Income taxes payable 223,574 462,327 238,753
Other current liabilities 1,210,113 1,254,241 44,128
Total current liabilities 17,318,965 17,796,891 477,926
Long-term liabilities:
Long-term debt 9,911,596 10,006,374 94,778
Accrued pension and severance costs 905,070 931,182 26,112
Deferred income taxes 1,423,726 1,118,165 (305,561)
Other long-term liabilities 521,876 533,561 11,685
Total long-term liabilities 12,762,268 12,589,282 (172,986)
Total liabilities 30,081,233 30,386,173 304,940
Mezzanine equity
Model AA Class Shares, no par value, 485,877 491,974 6,097
authorized: 150,000,000 shares at March 31, 2017
and March 31, 2018
issued: 47,100,000 shares at March 31, 2017
and March 31, 2018
Shareholders' equity
Toyota Motor Corporation shareholders' equity:
Common stock, no par value, 397,050 397,050
authorized: 10,000,000,000 shares
at March 31, 2017 and March 31, 2018
issued: 3,262,997,492 shares
at March 31, 2017 and March 31, 2018
Additional paid-in capital 484,013 487,502 3,489
Retained earnings 17,601,070 19,473,464 1,872,394
Accumulated other comprehensive
640,922 435,699 (205,223)
income (loss)
Treasury stock, at cost, (1,608,243) (2,057,733) (449,490)
288,274,636 shares at March 31, 2017 and
353,073,500 shares at March 31, 2018
Total Toyota Motor Corporation shareholders'
17,514,812 18,735,982 1,221,170
equity
Noncontrolling interests 668,264 694,120 25,856
Total shareholders' equity 18,183,076 19,430,102 1,247,026
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders'
48,750,186 50,308,249 1,558,063
equity

Note: The total number of authorized shares for common stock and Model AA Class Shares is 10,000,000,000 shares.
 TOYOTA MOTOR CORPORATION FY2018 Financial Summary

(2) Consolidated Statements of Income and

Consolidated Statements of Comprehensive Income

Consolidated Statements of Income

(Yen in millions)
FY2017 FY2018
Increase
(For the year ended (For the year ended
(Decrease)
March 31, 2017) March 31, 2018)
Net revenues:

Sales of products 25,813,496 27,420,276 1,606,780

Financing operations 1,783,697 1,959,234 175,537

Total net revenues 27,597,193 29,379,510 1,782,317

Costs and expenses:

Cost of products sold 21,543,035 22,600,474 1,057,439

Cost of financing operations 1,191,301 1,288,679 97,378

Selling, general and administrative 2,868,485 3,090,495 222,010

Total costs and expenses 25,602,821 26,979,648 1,376,827

Operating income 1,994,372 2,399,862 405,490

Other income (expense):

Interest and dividend income 158,983 179,541 20,558

Interest expense (29,353) (27,586) 1,767

Foreign exchange gain, net 33,601 22,664 (10,937)

Other income (loss), net 36,222 45,948 9,726

Total other income (expense) 199,453 220,567 21,114

Income before income taxes and
2,193,825 2,620,429 426,604
equity in earnings of affiliated companies
Provision for income taxes 628,900 504,406 (124,494)

Equity in earnings of affiliated companies 362,060 470,083 108,023

Net income 1,926,985 2,586,106 659,121

Less Net income attributable to
(95,876) (92,123) 3,753
noncontrolling interests
Net income attributable to
1,831,109 2,493,983 662,874
Toyota Motor Corporation

Note: Net income attributable to common shareholders for the fiscal year ended March 31, 2018 and 2017 is 2,481,692
million yen and 1,821,314 million yen, respectively, which is derived by deducting dividend and accretion to Model
AA Class Shares of 12,291 million yen and 9,795 million yen, respectively, from Net income attributable to Toyota
Motor Corporation.
(Yen)
Net income attributable to
Toyota Motor Corporation per common share
Basic 605.47 842.00 236.53

Diluted 599.22 832.78 233.56

 TOYOTA MOTOR CORPORATION FY2018 Financial Summary

Consolidated Statements of Comprehensive Income

(Yen in millions)
FY2017 FY2018
Increase
(For the year ended (For the year ended
(Decrease)
March 31, 2017) March 31, 2018)
Net income 1,926,985 2,586,106 659,121

Other comprehensive income (loss), net of tax

Foreign currency translation adjustments (57,926) (120,606) (62,680)

Unrealized gains (losses) on securities 4,279 (94,559) (98,838)

Pension liability adjustments 93,312 22,315 (70,997)

Total other comprehensive income (loss) 39,665 (192,850) (232,515)

Comprehensive income 1,966,650 2,393,256 426,606

Less Comprehensive income attributable to
(103,161) (93,096) 10,065
noncontrolling interests
Comprehensive income attributable to
1,863,489 2,300,160 436,671
Toyota Motor Corporation
 TOYOTA MOTOR CORPORATION FY2019 Financial Summary

3. Consolidated Financial Statements

(1) Consolidated Balance Sheets

(Yen in millions)
FY2018 FY2019 Increase
(March 31, 2018) (March 31, 2019) (Decrease)
Assets
Current assets:
Cash and cash equivalents 3,052,269 3,574,704 522,435
Time deposits 901,244 1,126,352 225,108
Marketable securities 1,768,360 1,127,160 (641,200)
Trade accounts and notes receivable,
2,219,562 2,372,734 153,172
less allowance for doubtful accounts of
¥25,925 million at March 31, 2018 and
¥16,370 million at March 31, 2019
Finance receivables, net 6,348,306 6,647,771 299,465
Other receivables 489,338 568,156 78,818
Inventories 2,539,789 2,656,396 116,607
Prepaid expenses and other current assets 833,788 805,964 (27,824)
Total current assets 18,152,656 18,879,237 726,581
Noncurrent finance receivables, net 9,481,618 10,281,118 799,500
Investments and other assets:
Marketable securities and other securities
7,999,323 7,479,926 (519,397)
investments
Affiliated companies 3,162,917 3,313,723 150,806
Employees receivables 22,562 21,683 (879)
Other 1,221,500 1,275,768 54,268
Total investments and other assets 12,406,302 12,091,100 (315,202)
Property, plant and equipment:
Land 1,404,611 1,386,308 (18,303)
Buildings 4,659,753 4,802,175 142,422
Machinery and equipment 11,535,381 11,857,425 322,044
Vehicles and equipment on operating leases 5,934,393 6,139,163 204,770
Construction in progress 509,851 651,713 141,862
Total property, plant and equipment, at cost 24,043,989 24,836,784 792,795
Less – Accumulated depreciation (13,776,316) (14,151,290) (374,974)
Total property, plant and equipment, net 10,267,673 10,685,494 417,821
Total assets 50,308,249 51,936,949 1,628,700
 TOYOTA MOTOR CORPORATION FY2019 Financial Summary

(Yen in millions)

FY2018 FY2019 Increase

(March 31, 2018) (March 31, 2019) (Decrease)
Liabilities
Current liabilities:
Short-term borrowings 5,154,913 5,344,973 190,060
Current portion of long-term debt 4,186,277 4,254,260 67,983
Accounts payable 2,586,657 2,645,984 59,327
Other payables 1,048,216 1,102,802 54,586
Accrued expenses 3,104,260 3,222,446 118,186
Income taxes payable 462,327 320,998 (141,329)
Other current liabilities 1,254,241 1,335,475 81,234
Total current liabilities 17,796,891 18,226,938 430,047
Long-term liabilities:
Long-term debt 10,006,374 10,550,945 544,571
Accrued pension and severance costs 931,182 963,406 32,224
Deferred income taxes 1,118,165 1,014,851 (103,314)
Other long-term liabilities 533,561 615,599 82,038
Total long-term liabilities 12,589,282 13,144,801 555,519
Total liabilities 30,386,173 31,371,739 985,566
Mezzanine equity
Model AA Class Shares, no par value, 491,974 498,073 6,099
authorized: 150,000,000 shares at March 31, 2018
and March 31, 2019
issued: 47,100,000 shares at March 31, 2018
and March 31, 2019
Shareholders' equity
Toyota Motor Corporation shareholders' equity:
Common stock, no par value, 397,050 397,050
authorized: 10,000,000,000 shares
at March 31, 2018 and March 31, 2019
issued: 3,262,997,492 shares
at March 31, 2018 and March 31, 2019
Additional paid-in capital 487,502 487,162 (340)
Retained earnings 19,473,464 21,987,515 2,514,051
Accumulated other comprehensive
435,699 (916,650) (1,352,349)
income (loss)
Treasury stock, at cost, (2,057,733) (2,606,925) (549,192)
353,073,500 shares at March 31, 2018 and
430,558,325 shares at March 31, 2019
Total Toyota Motor Corporation shareholders'
18,735,982 19,348,152 612,170
equity
Noncontrolling interests 694,120 718,985 24,865
Total shareholders' equity 19,430,102 20,067,137 637,035
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders'
50,308,249 51,936,949 1,628,700
equity

Note: The total number of authorized shares for common stock and Model AA Class Shares is 10,000,000,000 shares.
 TOYOTA MOTOR CORPORATION FY2019 Financial Summary

(2) Consolidated Statements of Income and

Consolidated Statements of Comprehensive Income

Consolidated Statements of Income

(Yen in millions)
FY2018 FY2019
Increase
(For the year ended (For the year ended
(Decrease)
March 31, 2018) March 31, 2019)
Net revenues:
Sales of products 27,420,276 28,105,338 685,062

Financing operations 1,959,234 2,120,343 161,109

Total net revenues 29,379,510 30,225,681 846,171

Costs and expenses:

Cost of products sold 22,600,474 23,389,495 789,021

Cost of financing operations 1,288,679 1,392,290 103,611

Selling, general and administrative 3,090,495 2,976,351 (114,144)

Total costs and expenses 26,979,648 27,758,136 778,488

Operating income 2,399,862 2,467,545 67,683

Other income (expense):

Interest and dividend income 179,541 225,495 45,954

Interest expense (27,586) (28,078) (492)

Foreign exchange gain, net 22,664 12,400 (10,264)

Unrealized gains (losses) on equity securities (341,054) (341,054)

Other income (loss), net 45,948 (50,843) (96,791)

Total other income (expense) 220,567 (182,080) (402,647)

Income before income taxes and
2,620,429 2,285,465 (334,964)
equity in earnings of affiliated companies
Provision for income taxes 504,406 659,944 155,538
Equity in earnings of affiliated companies 470,083 360,066 (110,017)

Net income 2,586,106 1,985,587 (600,519)

Less – Net income attributable to
(92,123) (102,714) (10,591)
noncontrolling interests
Net income attributable to
2,493,983 1,882,873 (611,110)
Toyota Motor Corporation

Note: Net income attributable to common shareholders for the fiscal year ended March 31, 2019 and 2018 is 1,868,085
million yen and 2,481,692 million yen, respectively, which is derived by deducting dividend and accretion to Model
AA Class Shares of 14,788 million yen and 12,291 million yen, respectively, from Net income attributable to Toyota
Motor Corporation.
(Yen)
Net income attributable to
Toyota Motor Corporation per common share
Basic 842.00 650.55 (191.45)
Diluted 832.78 645.11 (187.67)
 TOYOTA MOTOR CORPORATION FY2019 Financial Summary

Consolidated Statements of Comprehensive Income

(Yen in millions)
FY2018 FY2019
Increase
(For the year ended (For the year ended
(Decrease)
March 31, 2018) March 31, 2019)
Net income 2,586,106 1,985,587 (600,519)
Other comprehensive income (loss), net of tax

Foreign currency translation adjustments (120,606) 27,016 147,622

Unrealized gains (losses) on securities (94,559) (21,165) 73,394

Pension liability adjustments 22,315 (54,836) (77,151)

Total other comprehensive income (loss) (192,850) (48,985) 143,865

Comprehensive income 2,393,256 1,936,602 (456,654)

Less – Comprehensive income attributable to
(93,096) (96,458) (3,362)
noncontrolling interests
Comprehensive income attributable to
2,300,160 1,840,144 (460,016)
Toyota Motor Corporation