FINANCIAL SUMMARY FY2021 - Toyota

FINANCIAL SUMMARY

FY2021

(April 1, 2020 through March 31, 2021) English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

FY2021 Consolidated Financial Results

(Consolidated financial information has been prepared in accordance with International Financial Reporting Standards) English translation from the original Japanese-language document

Company name Stock exchanges on which the shares are listed Code number URL Representative Contact person

Date of the ordinary general shareholders' meeting Payment date of cash dividends Filing date of financial statements Supplemental materials prepared for financial results Earnings announcement for financial results

May 12, 2021

: Toyota Motor Corporation : Tokyo and Nagoya Stock Exchanges in Japan : 7203 : : Akio Toyoda, President : Kaname Shimizu, General Manager, Accounting Division

Tel. (0565)28-2121 : June 16, 2021 : May 28, 2021 : June 24, 2021 : yes : yes

1. Consolidated Results for FY2021 (April 1, 2020 through March 31, 2021) (1) Consolidated financial results

Sales revenues Operating income

Income before income taxes

FY2021 FY2020

Million yen 27,214,594

29,866,547

% -8.9

--

Million yen 2,197,748

2,399,232

% -8.4

--

Million yen 2,932,354

2,792,942

% 5.0

--

(Amounts are rounded to the nearest million yen)

Net income

Million yen 2,282,378

2,111,125

% 8.1

--

(% of change from previous year)

Net income

attributable to

Comprehensive

Toyota Motor

income

Corporation

Million yen

% Million yen

%

2,245,261 10.3 3,294,854 105.6

2,036,140 --

1,602,480 --

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

Yen

Yen

%

FY2021

803.23

794.67

10.2

FY2020

727.47

720.10

10.0

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

FY2021 351,029 million yen, FY2010 310,247 million yen

Ratio of income before

income taxes and

equity in earnings of affiliated companies

Ratio of operating income to sales revenues

to total assets

%

%

5.0

8.1

5.2

8.0

(2) Consolidated financial position

Total assets

FY2021 FY2020

Million yen 62,267,140 53,972,363

Total shareholders' equity

Million yen 24,288,329 21,339,012

Toyota Motor Corporation shareholders' equity

Million yen 23,404,547 20,618,888

Ratio of Toyota Motor Corporation shareholders' equity

% 37.6 38.2

Toyota Motor Corporation shareholders' equity

per share

Yen 8,370.88 7,454.00

(3) Consolidated cash flows

From operating activities

FY2021 FY2020

Million yen 2,727,162

2,398,496

From investing activities

Million yen (4,684,175) (2,124,650)

From financing activities

Million yen 2,739,174

362,805

Cash and cash equivalents at end of year

Million yen 5,100,857 4,098,450

2. Cash Dividends

Annual cash dividends per common share

End of first

quarter

End of

second quarter

End of

third Year-end quarter

Total

Total amount of cash dividends

(annual)

Dividends payout ratio

(consolidated)

Ratio of total amount of dividends to Toyota

Motor Corporation shareholders' equity

(consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

FY2020

--

100.00 --

120.00 220.00

610,847

30.2

3.0

FY2021

--

105.00 --

135.00 240.00

671,029

29.8

3.0

FY2022 (forecast)

--

--

--

--

--

--

(Note) Please refer to "(Reference) Cash Dividends on Class Shares" for information regarding cash dividends on class shares, which are

unlisted and have different rights from common stock.

Breakdown of Annual cash dividends per common share at end of second quarter: Special Dividends 5.00yen

Please refer to [Notice Concerning Distribution of Interim Dividends from Surplus] released on November 6th for further information.

Toyota Motor Corporation ("TMC") 's board of directors authorized a resolution on May 12th, 2021 to implement a common stock split in

which each share of common stock held by shareholders as of the record date of September 30, 2021 will be split into five shares. The per

share dividend for FY2020 and FY2021 is the dividend before stock split.

3. Forecast of Consolidated Results for FY2022 (April 1, 2021 through March 31, 2022)

(% of change from FY2021)

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

30,000,000

10.2

2,500,000

13.8

3,110,000

6.1

2,300,000

2.4

164.52

(Note) Basic earnings per share attributable to Toyota Motor Corporation is based on the number of shares after stock split, which is described on the note of 2. Cash Dividends.

Notes (1) Changes in significant subsidiaries during FY2021

(Changes in specified subsidiaries that caused a change in the scope of consolidation): yes New companies: 1 (Prime Planet Energy & Solutions, Inc.)

(2) Changes in accounting policies and changes in accounting estimates (i) Changes in accounting policies required by IFRS: 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) : FY2021 3,262,997,492 shares, FY2020 3,262,997,492 shares (ii) Number of treasury stock at the end of each fiscal year: FY2021 467,048,832 shares, FY2020 496,844,960 shares (iii) Average number of shares issued and outstanding in each fiscal year: FY2021 2,795,288,446 shares, FY2020 2,798,917,983 shares

(Reference)Overview of the Unconsolidated Financial Results

FY2021 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 FY2021 (April 1, 2020 through March 31, 2021)

(1) Unconsolidated financial results

Net revenues

Operating income

Million yen

%

Million yen

%

FY2021

11,761,405

-7.6

699,373

-28.5

FY2020

12,729,731

0.8

978,805

-26.2

Ordinary income

Million yen 1,886,691 1,735,365

(% of change from previous year)

Net income

%

Million yen

%

8.7

1,638,057

15.0

-25.3

1,424,062

-24.9

FY2021 FY2020

Net income per common share

- Basic

Yen 582.80 504.25

Net income per common share

- Diluted

Yen 576.53 500.27

(2) Unconsolidated financial position

Total assets

Net assets

Equity ratio

Net assets per common share

Million yen

Million yen

%

Yen

FY2021

21,198,281

13,894,021

65.5

4,797.77

FY2020

17,809,246

12,590,891

70.7

4,377.19

(Reference)Equity at the end of FY2021: 13,894,021 million yen, Equity at the end of FY2020: 12,590,891 million yen

This report is not audited. Cautionary Statement with Respect to Forward-Looking Statements, and Other Information

This report contains forward-looking statements that reflect Toyota's plans and expectations. 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 FY2022" 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 Russian ruble, 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; (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; and (xiv) the impact of natural calamities as well as the outbreak and spread of epidemics, including the negative effect on Toyota's vehicle production and sales.

A discussion of these and other factors which may affect Toyota's actual results, performance, achievements or financial position is contained in Toyota's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

The global spread of COVID-19 and the responses to it by governments and other stakeholders have adversely affected Toyota in a number of ways. For reasons such as government directives as well as anticipated reduced demand for its vehicles, Toyota has temporarily suspended, or intends to temporarily suspend, production of automobiles and components at selected plants in Japan and overseas. COVID-19 has also affected, and is expected to continue to affect, the businesses of Toyota dealers and distributors, as well as certain of Toyota's third-party suppliers and business partners. In addition, the global spread of COVID-19 and related matters have adversely affected businesses in a wide variety of industries, as well as consumers, all of which negatively impacted demand for Toyota's vehicles and related financial services.

The duration of the global spread of COVID-19 and the resulting future effects are uncertain, and the foregoing impacts and other effects not referenced above, as well as the ultimate impact of COVID-19, are difficult to predict and could have an adverse effect on Toyota's financial condition and results of operations.

The parent company has adopted International Financial Reporting Standards ("IFRS") for its consolidated financial statements beginning with the first quarter ended June 30, 2020. In addition, consolidated financial statements for the fiscal year ended March 31, 2020 are also presented in accordance with IFRS.

(Reference)Cash Dividends on Class Shares

Cash dividends on class shares, which have different rights from common stock, are as follows:

Annual cash dividends per First Series Model AA Class Share

End of first End of second End of third

quarter

quarter

quarter

Year-end

Total

Yen

Yen

Yen

Yen

Yen

FY2020

--

132.00

--

132.00

264.00

FY2021

--

132.00

--

132.00

264.00

(Note) The First Series Model AA Class Shares were issued in July 2015.

TOYOTA MOTOR CORPORATION FY2021 Financial Summary

TABLE OF CONTENTS

Financial Results and Position ..................................................................................................................................... 2 1. Consolidated Financial Results for FY2021 .............................................................................................................. 2 2. Consolidated Financial Position for FY2021 ............................................................................................................. 4 3. Forecast of Consolidated Financial Results for FY2022 ........................................................................................... 5

Basic Concept Regarding the Selection of Accounting Standards ........................................................................... 7 Consolidated Financial Statements .............................................................................................................................. 8

1. Consolidated Statement of Financial Position ........................................................................................................... 8 2. Consolidated Statement of Income and Consolidated Statement of Comprehensive Income .................................. 10 3. Consolidated Statement of Changes in Equity .......................................................................................................... 12 4. Consolidated Statement of Cash Flows .................................................................................................................... 13 5. Going Concern Assumption ..................................................................................................................................... 14 6. Segment Information ................................................................................................................................................. 15 7. Earnings Per Share ................................................................................................................................................... 22 8. Significant Subsequent Events ................................................................................................................................. 23 9. First-Time Adoption ................................................................................................................................................... 24 Supplemental Material for Financial Results for FY 2021

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