FINANCIAL SUMMARY

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

FY2026 First Quarter

(April 1, 2025 through June 30, 2025)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2026 First Quarter Consolidated Financial Results

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

English translation from the original Japanese-language document

August 7, 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
Payment date of cash dividends		:		—
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 FY2026 First Quarter (April 1, 2025 through June 30, 2025)

 

(1)	Consolidated financial results (For the first quarter ended June 30)

 

		(% of change from previous first quarter)
		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				%
FY2026 first quarter			12,253,326				3.5				1,166,141				-10.9				1,252,152				-33.1				872,193				-36.0				841,345				-36.9				840,816				-61.7
FY2025 first quarter			11,837,879				12.2				1,308,462				16.7				1,872,258				8.8				1,363,823				2.8				1,333,347				1.7				2,196,759				-14.0

 

		Earnings per share attributable to Toyota Motor Corporation – Basic				Earnings per share attributable to Toyota Motor Corporation – Diluted
		Yen				Yen
FY2026 first quarter			64.56				64.56
FY2025 first quarter			98.99				98.99

 

(2)	Consolidated financial position

 

		Total assets				Total shareholders’ equity				Toyota Motor Corporation shareholders’ equity				Ratio of Toyota Motor Corporation shareholders’ equity
		Million yen				Million yen				Million yen				%
FY2026 first quarter			93,468,143				36,993,052				36,040,203				38.6
FY2025			93,601,350				36,878,913				35,924,826				38.4

 

2.	Cash Dividends

 

		Annual cash dividends per common share
		End of first quarter				End of second quarter				End of third quarter				Year-end				Total
		Yen				Yen				Yen				Yen				Yen
FY2025			—				40.00				—				50.00				90.00
FY2026			—
FY2026 (forecast)							45.00				—				50.00				95.00

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

 

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			3,200,000			-33.3			3,870,000			-39.7			2,660,000			-44.2			204.09

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

Notes

(1)	Significant changes in the scope of consolidation during the period: none

 

(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 period (including treasury stock):

FY2026 first quarter 15,794,987,460 shares, FY2025 15,794,987,460 shares

 

(ii)

Number of treasury stock at the end of each period:

FY2026 first quarter 2,761,596,216 shares, FY2025 2,746,057,686 shares

 

(iii)

Average number of shares issued and outstanding in each period:

FY2026 first quarter 13,032,932,250 shares, FY2025 first quarter 13,469,159,202 shares

Review of the Japanese-language originals of the attached condensed quarterly consolidated financial statements by certified public accountants or an audit firm: none

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

This report 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, 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 and regulations, as well as other government actions, in the markets in which Toyota operates that affect Toyota’s operations, particularly laws, regulations and government actions relating to vehicle safety including remedial measures such as recalls, environmental protection, vehicle emissions and vehicle fuel economy, and tariffs and other trade policies, as well as 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.

With respect to (vi) above, the forecast of consolidated financial results for the fiscal year ending March 31, 2026 announced today reflects an 1,400.0 billion yen estimated full fiscal year negative impact on operating income due to U.S. tariffs. The negative impact of U.S. tariffs on consolidated operating income for the first quarter of FY2026 was 450.0 billion yen.

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/)

 

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

TABLE OF CONTENTS

 

Financial Results and Position			2
1. Consolidated Financial Results for FY2026 First Quarter			2
2. Consolidated Financial Position for FY2026 First Quarter			4
Unaudited Condensed Quarterly Consolidated Financial Statements			5
1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position			5
2. Unaudited Condensed Quarterly Consolidated Statement of Income and Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income			7
3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity			9
4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows			10
5. Notes to Unaudited Condensed Quarterly Consolidated Financial Statements			11
(1) Going Concern Assumption			11
(2) Segment Information			12

Supplemental Material for Financial Results for FY2026 First Quarter

 

—1—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

Financial Results and Position

1. Consolidated Financial Results for FY2026 First Quarter

Financial Results

Consolidated vehicle unit sales in Japan and overseas increased by 160 thousand units, or 7.1%, to 2,411 thousand units in FY2026 first quarter (the first quarter ended June 30, 2025) compared with FY2025 first quarter (the first quarter ended June 30, 2024). Vehicle unit sales in Japan increased by 60 thousand units, or 14.2%, to 481 thousand units in FY2026 first quarter compared with FY2025 first quarter. Overseas vehicle unit sales increased by 100 thousand units, or 5.4%, to 1,930 thousand units in FY2026 first quarter compared with FY2025 first quarter.

The results of operations for FY2026 first quarter were as follows:

 

The changes in operating income were as follows:

 

 

—2—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

Segment Operating Results

(1) Automotive:

Sales revenues for the automotive operations increased by 279.9 billion yen, or 2.6%, to 11,039.6 billion yen in FY2026 first quarter compared with FY2025 first quarter. However, operating income decreased by 206.4 billion yen, or 18.5%, to 911.4 billion yen in FY2026 first quarter compared with FY2025 first quarter. 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 130.7 billion yen, or 13.0%, to 1,136.1 billion yen in FY2026 first quarter compared with FY2025 first quarter, and operating income increased by 62.5 billion yen, or 39.1%, to 222.2 billion yen in FY2026 first quarter compared with FY2025 first quarter. The increase in operating income was mainly due to increase in financing margin in sales finance subsidiaries in the United States.

(3) All other:

Sales revenues for all other businesses increased by 27.2 billion yen, or 8.6%, to 342.8 billion yen in FY2026 first quarter compared with FY2025 first quarter. However, operating income decreased by 3.3 billion yen, or 8.1%, to 37.4 billion yen in FY2026 first quarter compared with FY2025 first quarter.

Geographic Information

(1) Japan:

Sales revenues in Japan decreased by 13.3 billion yen, or 0.3%, to 5,210.7 billion yen in FY2026 first quarter compared with FY2025 first quarter, and operating income decreased by 236.2 billion yen, or 26.8%, to 645.0 billion yen in FY2026 first quarter compared with FY2025 first quarter. The decrease in operating income was mainly due to the increase in expenses and others.

(2) North America:

Sales revenues in North America increased by 311.8 billion yen, or 6.2%, to 5,314.2 billion yen in FY2026 first quarter compared with FY2025 first quarter. However, operating income decreased by 106.2 billion yen to an operating loss of 21.1 billion yen in FY2026 first quarter compared with FY2025 first quarter. The decrease in operating income was mainly due to the increase in expenses and others.

(3) Europe:

Sales revenues in Europe increased by 52.6 billion yen, or 3.5%, to 1,561.6 billion yen in FY2026 first quarter compared with FY2025 first quarter. However, operating income decreased by 27.7 billion yen, or 22.2%, to 96.9 billion yen in FY2026 first quarter compared with FY2025 first quarter. The decrease in operating income was mainly due to the effects of marketing activities.

(4) Asia:

Sales revenues in Asia decreased by 97.3 billion yen, or 4.4%, to 2,134.3 billion yen in FY2026 first quarter compared with FY2025 first quarter, and operating income decreased by 30.2 billion yen, or 12.3%, to 215.7 billion yen in FY2026 first quarter compared with FY2025 first quarter. The decrease in operating income was mainly due to the effects of changes in exchange rates.

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

Sales revenues in other regions increased by 73.6 billion yen, or 7.0%, to 1,127.4 billion yen in FY2026 first quarter compared with FY2025 first quarter, and operating income increased by 52.2 billion yen, or 125.0%, to 94.0 billion yen in FY2026 first quarter compared with FY2025 first quarter. The increase in operating income was mainly due to marketing efforts.

 

—3—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

2. Consolidated Financial Position for FY2026 First Quarter

Financial Position

The financial position for FY2026 first quarter was as follows:

Total assets decreased by 133.2 billion yen, or 0.1%, to 93,468.1 billion yen at the end of FY2026 first quarter compared with the end of FY2025. Liabilities decreased by 247.3 billion yen, or 0.4%, to 56,475.0 billion yen at the end of FY2026 first quarter compared with the end of FY2025. Shareholders’ equity increased by 114.1 billion yen, or 0.3%, to 36,993.0 billion yen at the end of FY2026 first quarter compared with the end of FY2025.

Overview of Cash Flow

Cash and cash equivalents decreased by 771.5 billion yen, or 8.6%, to 8,210.8 billion yen at the end of FY2026 first quarter compared with the end of FY2025.

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 1,876.4 billion yen in FY2026 first quarter. Net cash provided by operating activities increased by 1,192.8 billion yen from 683.6 billion yen in FY2025 first quarter.

Cash flows from investing activities

Net cash flows from investing activities resulted in a decrease in cash by 1,802.0 billion yen in FY2026 first quarter, compared with net cash used in investing activities of 2,399.6 billion yen in FY2025 first quarter, a 597.6 billion yen change.

Cash flows from financing activities

Net cash flows from financing activities resulted in a decrease in cash by 803.2 billion yen in FY2026 first quarter. Net cash used in financing activities increased by 484.4 billion yen from 318.7 billion yen in FY2025 first quarter.

 

—4—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

Unaudited Condensed Quarterly Consolidated Financial Statements

1. Unaudited Condensed Quarterly Consolidated Statement of Financial Position

 

		Yen in millions
		March 31, 2025				June 30, 2025
Assets
Current assets
Cash and cash equivalents			8,982,404				8,210,856
Trade accounts and other receivables			3,679,722				3,609,895
Receivables related to financial services			11,453,249				11,461,240
Other financial assets			6,935,759				7,759,412
Inventories			4,598,232				4,626,631
Income tax receivable			216,528				148,045
Other current assets			1,212,783				1,257,421
Total current assets			37,078,676				37,073,501
Non-current assets
Investments accounted for using the equity method			5,798,051				5,643,887
Receivables related to financial services			22,171,786				22,214,199
Other financial assets			9,882,841				9,860,470
Property, plant and equipment
Land			1,428,122				1,476,006
Buildings			6,170,063				6,273,155
Machinery and equipment			16,621,243				16,642,958
Vehicles and equipment on operating leases			8,051,945				8,137,604
Construction in progress			1,596,145				1,477,527
Total property, plant and equipment, at cost			33,867,518				34,007,250
Less - Accumulated depreciation and impairment losses			(18,533,826	)			(18,642,999	)
Total property, plant and equipment, net			15,333,693				15,364,251
Right of use assets			583,068				563,497
Intangible assets			1,363,266				1,363,963
Deferred tax assets			517,869				514,214
Other non-current assets			872,101				870,163
Total non-current assets			56,522,674				56,394,643
Total assets			93,601,350				93,468,143

 

—5—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

		Yen in millions
		March 31, 2025				June 30, 2025
Liabilities
Current liabilities
Trade accounts and other payables			5,527,347				5,107,652
Short-term and current portion of long-term debt			15,829,516				15,505,149
Accrued expenses			1,827,933				2,045,697
Other financial liabilities			1,869,117				2,339,212
Income taxes payable			505,500				511,801
Liabilities for quality assurance			1,965,748				1,924,938
Other current liabilities			1,909,059				1,851,508
Total current liabilities			29,434,220				29,285,957
Non-current liabilities
Long-term debt			22,963,363				22,938,634
Other financial liabilities			435,594				391,383
Retirement benefit liabilities			1,019,568				1,008,964
Deferred tax liabilities			1,659,433				1,633,256
Other non-current liabilities			1,210,260				1,216,896
Total non-current liabilities			27,288,217				27,189,133
Total liabilities			56,722,437				56,475,091
Shareholders’ equity
Common stock			397,050				397,050
Additional paid-in capital			492,368				492,968
Retained earnings			35,841,218				36,116,452
Other components of equity			3,610,133				3,488,516
Treasury stock			(4,415,943	)			(4,454,783	)
Total Toyota Motor Corporation shareholders’ equity			35,924,826				36,040,203
Non-controlling interests			954,088				952,849
Total shareholders’ equity			36,878,913				36,993,052
Total liabilities and shareholders’ equity			93,601,350				93,468,143

 

—6—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

2. Unaudited Condensed Quarterly Consolidated Statement of Income and

 Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

Unaudited Condensed Quarterly Consolidated Statement of Income

 

		Yen in millions
		For the first quarter ended June 30, 2024				For the first quarter ended June 30, 2025
Sales revenues
Sales of products			10,845,224				11,129,393
Financial services			992,656				1,123,933
Total sales revenues			11,837,879				12,253,326
Costs and expenses
Cost of products sold			8,774,492				9,337,703
Cost of financial services			634,942				719,810
Selling, general and administrative			1,119,984				1,029,672
Total costs and expenses			10,529,418				11,087,185
Operating income			1,308,462				1,166,141
Share of profit (loss) of investments accounted for using the equity method			164,937				141,044
Other finance income			173,800				153,721
Other finance costs			(16,509	)			(6,211	)
Foreign exchange gain (loss), net			236,999				(212,375	)
Other income (loss), net			4,570				9,832
Income before income taxes			1,872,258				1,252,152
Income tax expense			508,435				379,959
Net income			1,363,823				872,193
Net income attributable to
Toyota Motor Corporation			1,333,347				841,345
Non-controlling interests			30,476				30,848
Net income			1,363,823				872,193
		Yen
Earnings per share attributable to Toyota Motor Corporation
Basic and Diluted			98.99				64.56

 

—7—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

Unaudited Condensed Quarterly Consolidated Statement of Comprehensive Income

 

		Yen in millions
		For the first quarter ended June 30, 2024				For the first quarter ended June 30, 2025
Net income			1,363,823				872,193
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			101,831				126,109
Remeasurements of defined benefit plans			(5,679	)			(2,557	)
Share of other comprehensive income of equity method investees			5,634				(16,119	)
Total of items that will not be reclassified to profit (loss)			101,786				107,432
Items that may be reclassified subsequently to profit (loss)
Exchange differences on translating foreign operations			628,685				(110,435	)
Net changes in revaluation of financial assets measured at fair value through other comprehensive income			(21,714	)			39,342
Share of other comprehensive income of equity method investees			124,179				(67,717	)
Total of items that may be reclassified subsequently to profit (loss)			731,149				(138,809	)
Total other comprehensive income, net of tax			832,936				(31,377	)
Comprehensive income			2,196,759				840,816
Comprehensive income for the period attributable to
Toyota Motor Corporation			2,139,964				806,064
Non-controlling interests			56,794				34,752
Comprehensive income			2,196,759				840,816

 

—8—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

3. Unaudited Condensed Quarterly Consolidated Statement of Changes in Equity

For the first quarter ended June 30, 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, 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			—				—				1,333,347				—				—				1,333,347				30,476				1,363,823
Other comprehensive income, net of tax			—				—				—				806,618				—				806,618				26,318				832,936
Total comprehensive income			—				—				1,333,347				806,618				—				2,139,964				56,794				2,196,759
Transactions with owners and other
Dividends paid			—				—				(606,338	)			—				—				(606,338	)			(43,568	)			(649,906	)
Repurchase of treasury stock			—				—				—				—				(18,972	)			(18,972	)			—				(18,972	)
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			—				(125	)			—				—				—				(125	)			10,055				9,930
Total transactions with owners and other			—				(721	)			(1,333,602	)			—				711,111				(623,212	)			(33,513	)			(656,725	)
Reclassification to retained earnings			—				—				(53,878	)			53,878				—				—				—				—
Balances at June 30, 2024			397,050				491,081				32,741,232				5,364,252				(3,255,871	)			35,737,743				1,041,628				36,779,372
For the first quarter ended June 30, 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, 2025			397,050				492,368				35,841,218				3,610,133				(4,415,943	)			35,924,826				954,088				36,878,913
Comprehensive income
Net income			—				—				841,345				—				—				841,345				30,848				872,193
Other comprehensive income, net of tax			—				—				—				(35,281	)			—				(35,281	)			3,904				(31,377	)
Total comprehensive income			—				—				841,345				(35,281	)			—				806,064				34,752				840,816
Transactions with owners and other
Dividends paid			—				—				(652,446	)			—				—				(652,446	)			(33,316	)			(685,763	)
Repurchase of treasury stock			—				—				—				—				(39,953	)			(39,953	)			—				(39,953	)
Reissuance of treasury stock			—				752				—				—				1,113				1,866				—				1,866
Equity transactions and other			—				(152	)			—				—				—				(152	)			(2,674	)			(2,826	)
Total transactions with owners and other			—				600				(652,446	)			—				(38,840	)			(690,687	)			(35,990	)			(726,677	)
Reclassification to retained earnings			—				—				86,336				(86,336	)			—				—				—				—
Balances at June 30, 2025			397,050				492,968				36,116,452				3,488,516				(4,454,783	)			36,040,203				952,849				36,993,052

 

—9—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

4. Unaudited Condensed Quarterly Consolidated Statement of Cash Flows

 

		Yen in millions
		For the first quarter ended June 30, 2024				For the first quarter ended June 30, 2025
Cash flows from operating activities
Net income			1,363,823				872,193
Depreciation and amortization			575,278				551,824
Interest income and interest costs related to financial services, net			(197,906	)			(190,179	)
Share of profit (loss) of investments accounted for using the equity method			(164,937	)			(141,044	)
Income tax expense			508,435				379,959
Changes in operating assets and liabilities, and other			(1,024,898	)			138,032
Interest received			667,642				657,480
Dividends received			467,291				275,451
Interest paid			(324,593	)			(357,368	)
Income taxes paid, net of refunds			(1,186,473	)			(309,868	)
Net cash provided by (used in) operating activities			683,661				1,876,481
Cash flows from investing activities
Additions to fixed assets excluding equipment leased to others			(405,618	)			(503,807	)
Additions to equipment leased to others			(1,028,186	)			(669,737	)
Proceeds from sales of fixed assets excluding equipment leased to others			10,098				5,635
Proceeds from sales of equipment leased to others			629,911				352,182
Additions to intangible assets			(63,862	)			(69,378	)
Additions to public and corporate bonds and stocks			(1,137,458	)			(497,457	)
Proceeds from sales of public and corporate bonds and stocks and upon maturity of public and corporate bonds			649,510				888,821
Other, net			(1,053,998	)			(1,308,261	)
Net cash provided by (used in) investing activities			(2,399,603	)			(1,802,002	)
Cash flows from financing activities
Increase (decrease) in short-term debt			79,936				40,352
Proceeds from long-term debt			3,036,195				3,080,551
Payments of long-term debt			(2,774,003	)			(3,197,589	)
Dividends paid to Toyota Motor Corporation common shareholders			(606,338	)			(652,446	)
Dividends paid to non-controlling interests			(43,568	)			(33,316	)
Reissuance (repurchase) of treasury stock			(18,972	)			(39,953	)
Other, net			7,960				(882	)
Net cash provided by (used in) financing activities			(318,790	)			(803,284	)
Effect of exchange rate changes on cash and cash equivalents			219,765				(42,743	)
Net increase (decrease) in cash and cash equivalents			(1,814,966	)			(771,548	)
Cash and cash equivalents at beginning of period			9,412,060				8,982,404
Cash and cash equivalents at end of period			7,597,094				8,210,856

 

—10—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

5. Notes to Unaudited Condensed Quarterly Consolidated Financial Statements

(1) Going Concern Assumption

None

 

—11—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

(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 operating results

For the first quarter ended June 30, 2024:

 

		Yen in millions
		Automotive				Financial services				All other				Inter-segment Elimination/ Unallocated Amount				Consolidated
Sales revenues
Revenues from external customers			10,707,121				992,656				138,102				—				11,837,879
Inter-segment revenues and transfers			52,584				12,710				177,567				(242,861	)			—
Total			10,759,705				1,005,366				315,669				(242,861	)			11,837,879
Operating expenses			9,641,799				845,627				274,879				(232,888	)			10,529,418
Operating income			1,117,906				159,738				40,790				(9,973	)			1,308,462

For the first quarter ended June 30, 2025:

 

		Yen in millions
		Automotive				Financial services				All other				Inter-segment Elimination/ Unallocated Amount				Consolidated
Sales revenues
Revenues from external customers			10,983,969				1,123,933				145,425				—				12,253,326
Inter-segment revenues and transfers			55,694				12,176				197,465				(265,335	)			—
Total			11,039,662				1,136,108				342,890				(265,335	)			12,253,326
Operating expenses			10,128,243				913,853				305,424				(260,335	)			11,087,185
Operating income			911,419				222,255				37,466				(5,000	)			1,166,141

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

 

—12—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

(iii) Geographic information

For the first quarter ended June 30, 2024:

 

		Yen in millions
		Japan				North America				Europe				Asia				Other				Inter-segment Elimination/ Unallocated Amount				Consolidated
Sales revenues
Revenues from external customers			2,470,246				4,914,562				1,461,791				1,950,769				1,040,512				—				11,837,879
Inter-segment revenues and transfers			2,753,849				87,865				47,215				281,006				13,345				(3,183,279	)			—
Total			5,224,094				5,002,427				1,509,006				2,231,775				1,053,857				(3,183,279	)			11,837,879
Operating expenses			4,342,815				4,917,366				1,384,330				1,985,829				1,012,062				(3,112,985	)			10,529,418
Operating income			881,279				85,061				124,676				245,946				41,795				(70,294	)			1,308,462

For the first quarter ended June 30, 2025:

 

		Yen in millions
		Japan				North America				Europe				Asia				Other				Inter-segment Elimination/ Unallocated Amount				Consolidated
Sales revenues
Revenues from external customers			2,551,657				5,228,248				1,510,183				1,875,849				1,087,389				—				12,253,326
Inter-segment revenues and transfers			2,659,081				86,031				51,438				258,542				40,072				(3,095,164	)			—
Total			5,210,738				5,314,279				1,561,621				2,134,391				1,127,461				(3,095,164	)			12,253,326
Operating expenses			4,565,678				5,335,443				1,464,655				1,918,661				1,033,409				(3,230,661	)			11,087,185
Operating income (loss)			645,060				(21,164	)			96,966				215,730				94,052				135,497				1,166,141

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

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.

 

—13—

TOYOTA MOTOR CORPORATION FY2026 First Quarter Financial Summary

 

(iv) Sales revenues by location of external customers

 

		Yen in millions
		For the first quarter ended June 30,
		2024				2025
Japan			1,738,709				1,870,520
North America			4,934,278				5,241,642
Europe			1,419,779				1,486,619
Asia			1,976,558				1,847,204
Other			1,768,555				1,807,341
Total			11,837,879				12,253,326

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

 

—14—

Supplemental Material for Financial Results for FY2026 First Quarter (Consolidated)

< IFRS >

 

		FY2025																				FY2026				FY2026
		1Q (2024/4-6)				2Q (2024/7-9)				3Q (2024/10-12)				4Q (2025/1-3)				12 months (‘24/4-‘25/3)				1Q (2025/4-6)				Forecast 12 months (‘25/4-‘26/3)
Vehicle Production (thousands of units)			2,186				2,217				2,312				2,334				9,049				2,301
(Japan) –including Daihatsu & Hino			901				991				1,052				1,056				4,000				994
[Daihatsu & Hino]			[141	]			[219	]			[205	]			[200	]			[764	]			[210	]
(Overseas) –including Daihatsu & Hino			1,285				1,226				1,260				1,278				5,049				1,306
[Daihatsu & Hino]			[106	]			[122	]			[122	]			[108	]			[458	]			[86	]
North America			523				445				467				522				1,958				557
Europe			215				181				206				208				811				197
Asia			434				466				455				434				1,790				423
Central and South America			87				100				101				83				370				101
Africa			26				33				31				31				120				30
Vehicle Sales (thousands of units)			2,252				2,304				2,444				2,362				9,362				2,411				9,800
(Japan) –including Daihatsu & Hino			421				517				516				536				1,991				481				2,070
[Daihatsu & Hino]			[84	]			[136	]			[129	]			[136	]			[485	]			[130	]			[570	]
(Overseas) –including Daihatsu & Hino			1,830				1,787				1,929				1,826				7,372				1,930				7,730
[Daihatsu & Hino]			[61	]			[65	]			[60	]			[55	]			[240	]			[48	]			[230	]
North America			705				643				695				660				2,703				794				2,960
Europe			291				256				318				306				1,172				298				1,230
Asia			436				469				473				460				1,838				421				1,860
Central and South America			114				134				127				119				495				129				520
Oceania			82				71				80				77				309				78				270
Africa			49				56				60				58				224				60				280
Middle East			151				157				172				143				622				147				610
Other			2				2				2				2				8				2
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]			2,636				2,737				2,922				2,715				11,011				2,829				11,200

 

Supplemental 1

Supplemental Material for Financial Results for FY2026 First Quarter (Consolidated)

< IFRS >

 

		FY2025																				FY2026				FY2026
		1Q (2024/4-6)				2Q (2024/7-9)				3Q (2024/10-12)				4Q (2025/1-3)				12 months (‘24/4-‘25/3)				1Q (2025/4-6)				Forecast 12 months (‘25/4-‘26/3)
Foreign Exchange Rates
Yen to US Dollar Rate			156				150				152				153				153				145				as premise: 145
Yen to Euro Rate			168				164				163				161				164				164				as premise: 160
Number of Employees			384,954				384,158				384,338				383,853				383,853				389,144	(Note 1)
Sales Revenues (billions of yen)			11,837.8				11,444.5				12,391.0				12,363.1				48,036.7				12,253.3				48,500.0
Geographic Information
Japan			5,224.0				5,317.3				5,764.8				5,552.7				21,859.0				5,210.7
North America			5,002.4				4,522.9				4,876.1				4,898.7				19,300.3				5,314.2
Europe			1,509.0				1,380.1				1,630.5				1,793.7				6,313.4				1,561.6
Asia			2,231.7				2,238.2				2,323.3				2,194.6				8,988.0				2,134.3
Other			1,053.8				1,066.6				1,235.0				1,165.7				4,521.2				1,127.4
Elimination			-3,183.2				-3,080.7				-3,438.8				-3,242.5				-12,945.5				-3,095.1
Business Segment
Automotive			10,759.7				10,332.4				11,249.0				10,858.6				43,199.8				11,039.6
Financial Services			1,005.3				1,037.6				1,022.9				1,415.2				4,481.1				1,136.1
All Other			315.6				337.6				393.0				400.7				1,447.1				342.8
Elimination			-242.8				-263.2				-273.8				-311.4				-1,091.4				-265.3
Operating Income (billions of yen)			1,308.4				1,155.7				1,215.2				1,116.0				4,795.5				1,166.1				3,200.0
(Operating Income Ratio) (%)			(11.1	)			(10.1	)			(9.8	)			(9.0	)			(10.0	)			(9.5	)			(6.6	)
Geographic Information
Japan			881.2				641.1				814.6				814.0				3,151.1				645.0
North America			85.0				28.7				58.3				-63.3				108.8				-21.1
Europe			124.6				91.2				157.1				42.4				415.5				96.9
Asia			245.9				244.4				194.8				211.2				896.5				215.7
Other			41.7				98.8				39.0				72.9				252.6				94.0
Elimination			-70.2				51.3				-48.8				38.7				-29.0				135.4
Business Segment
Automotive			1,117.9				949.8				1,006.1				866.3				3,940.2				911.4
Financial Services			159.7				172.7				163.7				187.2				683.5				222.2
All Other			40.7				33.2				50.5				56.5				181.1				37.4
Elimination			-9.9				-0.1				-5.2				5.9				-9.4				-5.0
Share of Profit (Loss) of Investments Accounted for Using the Equity Method (billions of yen)			164.9				99.3				190.4				136.4				591.2				141.0				550.0
Income before Income Taxes (billions of yen)			1,872.2				859.8				2,698.0				984.4				6,414.5				1,252.1				3,870.0
(Income before Income Taxes Ratio) (%)			(15.8	)			(7.5	)			(21.8	)			(8.0	)			(13.4	)			(10.2	)			(8.0	)
Net Income Attributable toToyota Motor Corporation (billions of yen)			1,333.3				573.7				2,193.2				664.6				4,765.0				841.3				2,660.0
(Net Income Ratio) (%)			(11.3	)			(5.0	)			(17.7	)			(5.4	)			(9.9	)			(6.9	)			(5.5	)
Dividends
Cash Dividends (billions of yen)			—				525.9				—				652.4				1,178.4				—	(Note 2)
Cash Dividends per Share (yen)			—				40				—				50				90				—				95
Payout Ratio (%)			—				28.1				—				22.8				25.0				—				46.5
Value of Shares Repurchased (billions of yen)[actual purchase]			18.9				884.4				142.2				133.2				1,179.0				39.9	(Note 3)
Value of Shares Repurchased (billions of yen)[shareholder return]			—				199.9				—				—				199.9				3,208.5	(Note 3)  (Note 4)
Number of Outstanding Shares (thousands)			15,794,987				15,794,987				15,794,987				15,794,987				15,794,987				15,794,987

 

Supplemental 2