v3.25.2
Segment information (Tables)
12 Months Ended
Mar. 31, 2025
Disclosure of operating segments [abstract]  
Disclosure of Operating Segments
As of and for the year ended March 31, 2023
 
    
Yen in millions
 
    


Automotive
    

Financial
services
    


All other
    
Inter-segment

Elimination/

Unallocated

Amount
   


Consolidated
 
                                   
Sales revenues
             
Revenues from external customers
     33,776,870        2,786,679        590,749        —        37,154,298  
Inter-segment revenues and transfers
     43,131        22,968        634,194        (700,293     —   
  
 
 
    
 
 
    
 
 
    
 
 
   
 
 
 
Total
     33,820,000        2,809,647        1,224,943        (700,293     37,154,298  
Operating expenses
     31,639,363        2,372,131        1,121,492        (703,713     34,429,273  
  
 
 
    
 
 
    
 
 
    
 
 
   
 
 
 
Operating income
     2,180,637        437,516        103,451        3,420       2,725,025  
  
 
 
    
 
 
    
 
 
    
 
 
   
 
 
 
Total assets
     26,321,858        35,525,441        2,946,994        9,508,887       74,303,180  
Investments accounted for using the equity method
     4,717,231        92,903        272,752        144,460       5,227,345  
Depreciation and amortization
     1,205,687        799,156        35,062        —        2,039,904  
Capital expenditures
     1,688,114        1,786,373        38,748        (17,015     3,496,219  
 
 
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  
Disclosure of financial position of segment
(i) 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
     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
     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.
 
 
    
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  
  
 
 
   
 
 
 
Disclosure of income of segment
(ii) Consolidated Statement of Income on
Non-Financial
Services Businesses and Financial Services Business
 
   
Yen in millions
 
   
For the year ended

March 31, 2023
   
For the year ended

March 31, 2024
   
For the year ended

March 31, 2025
 
(Non-Financial
Services Businesses)
     
Sales revenues
     34,409,011        41,832,663        43,787,709  
Cost of revenues
    29,132,715       33,763,076       35,684,332  
Selling, general and administrative
    2,990,316       3,278,135       3,984,469  
 
 
 
   
 
 
   
 
 
 
Operating income
    2,285,980       4,791,453       4,118,908  
 
 
 
   
 
 
   
 
 
 
Other income (loss), net
    943,777       1,608,345       1,622,539  
 
 
 
   
 
 
   
 
 
 
Income before income taxes
    3,229,757       6,399,798       5,741,447  
 
 
 
   
 
 
   
 
 
 
Income tax expense
    1,040,864       1,741,885       1,446,627  
 
 
 
   
 
 
   
 
 
 
Net income
    2,188,893       4,657,913       4,294,820  
 
 
 
   
 
 
   
 
 
 
Net income attributable to
     
Toyota Motor Corporation
    2,152,509       4,540,311       4,281,231  
Non-controlling
interests
    36,384       117,602       13,589  
 
 
 
   
 
 
   
 
 
 
(Financial Services Business)
     
Sales revenues
    2,809,647       3,484,198       4,481,180  
Cost of revenues
    1,741,117       2,145,694       2,960,227  
Selling, general and administrative
    631,014       768,481       837,435  
 
 
 
   
 
 
   
 
 
 
Operating income
    437,516       570,023       683,519  
 
 
 
   
 
 
   
 
 
 
Other income (loss), net
    (5,013     1,762       (10,309
 
 
 
   
 
 
   
 
 
 
Income before income taxes
    432,503       571,786       673,210  
 
 
 
   
 
 
   
 
 
 
Income tax expense
    134,903       151,785       178,000  
 
 
 
   
 
 
   
 
 
 
Net income
    297,600       420,000       495,210  
 
 
 
   
 
 
   
 
 
 
Net income attributable to
     
Toyota Motor Corporation
    292,334       411,114       484,129  
Non-controlling
interests
    5,266       8,886       11,081  
 
 
 
   
 
 
   
 
 
 
(Elimination)
     
Elimination of net income
    6,475       (6,492     (274
(Consolidated)
     
 
 
 
   
 
 
   
 
 
 
Net income
    2,492,967       5,071,421       4,789,755  
 
 
 
   
 
 
   
 
 
 
Net income attributable to
     
Toyota Motor Corporation
    2,451,318       4,944,933       4,765,086  
Non-controlling
interests
    41,650       126,488       24,670  
 
 
 
   
 
 
   
 
 
 
Disclosure of cash flows of segment
(iii) Consolidated Statement of Cash Flows on
Non-Financial
Services Businesses and Financial Services Business
 
   
Yen in millions
 
   
For the year ended

March 31, 2023
   
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
       2,188,893          4,657,913          4,294,820  
Depreciation and amortization
    1,240,749       1,303,053       1,413,066  
Share of profit (loss) of investments accounted for using the equity method
    (633,324     (752,779     (579,619
Income tax expense
    1,040,864       1,741,885       1,446,627  
Changes in operating assets and liabilities, and other
    463,871       120,731       (370,839
Interest received
    234,945       454,713       363,304  
Dividends received
    454,752       582,022       617,644  
Interest paid
    (28,206     (104,008     (100,770
Income taxes paid, net of refunds
    (1,280,341     (1,033,448     (2,347,622
 
 
 
   
 
 
   
 
 
 
Net cash provided by (used in) operating activities
    3,682,203       6,970,082       4,736,610  
 
 
 
   
 
 
   
 
 
 
Cash flows from investing activities
     
Additions to fixed assets excluding equipment leased to others
    (1,439,724     (1,815,239     (1,878,342
Additions to equipment leased to others
    (147,792     (153,324     (24,855
Proceeds from sales of fixed assets excluding equipment leased to others
    54,572       152,830       68,266  
Proceeds from sales of equipment leased to others
    44,195       47,557       6,035  
Additions to intangible assets
    (333,295     (317,606     (341,131
Additions to public and corporate bonds and stocks
    (503,977     (2,639,166     (3,446,017
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds
    892,814       1,757,282       3,423,102  
Other, net
    236,351       (1,386,377     (618,309
 
 
 
   
 
 
   
 
 
 
Net cash provided by (used in) investing activities
    (1,196,856     (4,354,045     (2,811,251
 
 
 
   
 
 
   
 
 
 
Cash flows from financing activities
     
Increase (decrease) in short-term debt
    142,688       66,953       (116,549
Proceeds from long-term debt
    474,535       533,333       162,735  
Payments of long-term debt
    (637,982     (634,215     (306,768
Dividends paid to Toyota Motor Corporation common shareholders
    (727,980     (880,197     (1,132,329
Dividends paid to
non-controlling
interests
    (79,782     (85,991     (122,565
Reissuance (repurchase) of treasury stock
    (431,099     (231,069     (1,179,043
Other, net
    21,458       (7,570     55,560  
 
 
 
   
 
 
   
 
 
 
Net cash provided by (used in) financing activities
    (1,238,161     (1,238,756     (2,638,959
 
 
 
   
 
 
   
 
 
 
Effect of exchange rate changes on cash and cash equivalents
    1,690       (32,862     (88,260
 
 
 
   
 
 
   
 
 
 
Net increase (decrease) in cash and cash equivalents
    1,248,876       1,344,419       (801,860
 
 
 
   
 
 
   
 
 
 
Cash and cash equivalents at beginning of year
    4,299,522       5,548,398       6,892,817  
 
 
 
   
 
 
   
 
 
 
Cash and cash equivalents at end of year
    5,548,398       6,892,817       6,090,957  
 
 
 
   
 
 
   
 
 
 
 
 
   
Yen in millions
 
   
For the year ended

March 31, 2023
   
For the year ended

March 31, 2024
   
For the year ended

March 31, 2025
 
                   
(Financial Services Business)
     
Cash flows from operating activities
     
Net income
    297,600       420,000       495,210  
Depreciation and amortization
    799,156       784,013       838,167  
Interest income and interest costs related to financial services, net
    (703,971     (734,880     (769,800
Share of profit (loss) of investments accounted for using the equity method
    (9,739     (10,357     (11,600
Income tax expense
    134,903       151,785       178,000  
Changes in operating assets and liabilities, and other
    (1,958,779     (4,100,301     (2,405,422
Interest received
    1,291,100       1,858,816          2,332,296  
Dividends received
    5,599       5,236       5,651  
Interest paid
    (574,650     (1,065,757     (1,531,190
Income taxes paid, net of refunds
    (16,883     (90,874     (153,692
 
 
 
   
 
 
   
 
 
 
Net cash provided by (used in) operating activities
    (735,664     (2,782,318     (1,022,379
 
 
 
   
 
 
   
 
 
 
Cash flows from investing activities
     
Additions to fixed assets excluding equipment leased to others
    (10,472     (31,208     (28,469
Additions to equipment leased to others
    (1,759,564     (2,714,336     (2,972,065
Proceeds from sales of fixed assets excluding equipment leased to others
    1,865       2,155       2,555  
Proceeds from sales of equipment leased to others
    1,614,965          1,961,077       1,701,864  
Additions to intangible assets
    (14,985     (16,680     (13,064
Additions to public and corporate bonds and stocks
    (646,237     (333,613     (519,533
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds
    440,915       494,085       326,469  
Other, net
    (30,385     14,732       89,633  
 
 
 
   
 
 
   
 
 
 
Net cash provided by (used in) investing activities
    (403,898     (623,788     (1,412,610
 
 
 
   
 
 
   
 
 
 
Cash flows from financing activities
     
Increase (decrease) in short-term debt
    171,293       339,666       229,903  
Proceeds from long-term debt
    8,892,261       11,620,147       13,251,352  
Payments of long-term debt
    (7,868,820     (8,221,432     (10,618,851
Dividends paid to
non-controlling
interests
    (5,204     (4,318     (4,667
Other, net
    2,853       (57     (4,716
 
 
 
   
 
 
   
 
 
 
Net cash provided by (used in) financing activities
    1,192,382       3,734,005       2,853,022  
 
 
 
   
 
 
   
 
 
 
Effect of exchange rate changes on cash and cash equivalents
    101,615       222,776       (45,829
 
 
 
   
 
 
   
 
 
 
Net increase (decrease) in cash and cash equivalents
    154,436       550,675       372,203  
 
 
 
   
 
 
   
 
 
 
Cash and cash equivalents at beginning of year
       1,814,133       1,968,568       2,519,244  
 
 
 
   
 
 
   
 
 
 
Cash and cash equivalents at end of year
    1,968,568       2,519,244       2,891,447  
 
 
 
   
 
 
   
 
 
 
(Consolidated)
     
Effect of exchange rate changes on cash and cash equivalents
    103,305       189,914       (134,089
 
 
 
   
 
 
   
 
 
 
Net increase (decrease) in cash and cash equivalents
    1,403,311       1,895,094       (429,656
 
 
 
   
 
 
   
 
 
 
Cash and cash equivalents at beginning of year
    6,113,655       7,516,966       9,412,060  
 
 
 
   
 
 
   
 
 
 
Cash and cash equivalents at end of year
    7,516,966       9,412,060       8,982,404  
 
 
 
   
 
 
   
 
 
 
Disclosure of geographic information
As of and for the year ended March 31, 2023
 
   
Yen in millions
 
   
Japan
   
North
America
   
Europe
   
Asia
   
Other
   
Inter-segment

Elimination/

Unallocated

Amount
   
Consolidated
 
Sales revenues
             
Revenues from external
customers
    9,122,282       13,509,027       4,097,537       7,076,922       3,348,530       —        37,154,298  
Inter-segment revenues
and transfers
    8,460,914       334,874       176,198       967,984       123,663       (10,063,633     —   
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
    17,583,196       13,843,901       4,273,735       8,044,906       3,472,193       (10,063,633     37,154,298  
Operating expenses
    15,681,733       13,918,637       4,216,276       7,330,455       3,240,832       (9,958,659     34,429,273  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Operating income (loss)
    1,901,463       (74,736     57,460       714,451       231,362       (104,974     2,725,025  
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total assets
    23,241,334       26,024,734       6,813,474       7,908,520       4,726,373       5,588,745       74,303,180  
Non-current
assets
    5,658,859       6,255,561       1,042,726       1,031,057       565,377       —        14,553,580  
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  
Disclosure of sales revenues by location of external customers
    
Yen in millions
 
    
For the years ended March 31,
 
    
2023
    
2024
    
2025
 
Japan
     6,742,304        7,399,192        7,723,171  
North America
     13,578,084        17,694,375        18,985,399  
Europe
     3,970,857        5,396,610        5,979,720  
Asia
     7,150,555        7,742,141        7,944,206  
Other
     5,712,497        6,863,007        7,404,208  
  
 
 
    
 
 
    
 
 
 
Total
     37,154,298        45,095,325        48,036,704