Sales revenues

12 Months Ended

Mar. 31, 2025

26. Sales revenues

(1) Summary by business segments and products

The table below shows Toyota’s sales revenues from external customers by business and by product category.


	Yen in millions
	For the years ended March 31
	2023		2024		2025
Sales of products
Automotive
Vehicles		28,394,256		35,249,865		36,892,232
Parts and components for production		1,710,422		1,596,111		1,606,173
Parts and components for after service		2,866,196		3,166,586		3,423,389
Other		805,995		1,068,169		1,074,505

Total automotive		33,776,870		41,080,731		42,996,299
All other		590,749		567,399		602,578

Total sales of products		34,367,619		41,648,130		43,598,877
Financial services		2,786,679		3,447,195		4,437,827

Total sales revenues		37,154,298		45,095,325		48,036,704

The majority of sales of products are revenues recognized from contracts with customers under IFRS 15 “Revenue from Contracts with Customers” (“IFRS 15”), and receivables related to such revenues are recognized as “Trade accounts and other receivables”.

The breakdown of income from leases included in financial service revenues is as follows:


	Yen in millions
	For the years ended March 31,
	2023		2024		2025
Finance leases
Financial income related to net lease investment		164,820		208,257		258,835
Operating leases		1,169,018		1,207,719		1,350,051

Total		1,333,838		1,415,975		1,608,886

Financial service revenues other than income from leases mainly consist of interest income using the effective interest method. The amount of interest income using the effective interest method is not significant.

For the years ended March 31, 2023, 2024 and 2025 ¥166,220 million, ¥187,035 million and ¥207,154 million of financial service revenues were accounted for under IFRS 15.

(2) Contract liabilities

Contract liabilities consist of the following:


	Yen in millions
	April 1, 2023		March 31,
	April 1, 2023		2024		2025
Contract liabilities		1,068,212		1,392,390		1,417,919

Contract liabilities are primarily related to advances received from customers. Contract liabilities are included in “Other current liabilities” and “Other

non-current

liabilities” in the consolidated statement of financial position. For the year ended March 31, 2024 and 2025, the amounts transferred from contract liabilities at the beginning of the fiscal year to sales revenue were ¥577,917 million and ¥748,193 million, respectively.

(3) Performance obligations

The aggregate amounts of transaction prices allocated to unsatisfied performance obligations related to contracts that have original expected durations in excess of one year were ¥1,038,630 million and ¥1,156,410 million as of March 31, 2024 and 2025, respectively. The main contents of unsatisfied performance obligations are insurance revenues and maintenance revenues.

For insurance revenues, Toyota receives payment agreed upon in the contract at the inception of the contract, and revenue is recognized over the term of the contract, which ranges from

three

to 120 months. As of March 31, 2024, the unsatisfied performance obligations related to insurance revenues were ¥433,218 million, and Toyota expected to recognize as revenue ¥125,303 million in fiscal 2025, and ¥307,914 million thereafter. As of March 31, 2025, the unsatisfied performance obligations related to insurance revenues were ¥463,707 million, and Toyota expects to recognize as revenue ¥135,282 million in fiscal 2026, and ¥328,425 million thereafter.

For maintenance revenues, Toyota receives payments agreed upon in the contract at the inception of the contract, and revenue is recognized over the term of the contract, which ranges from 18 to 84 months.

Unsatisfied performance obligations for sales of products related to contracts that have an original expected duration of one year or less have been excluded from this disclosure.