Form 6-K TOYOTA MOTOR CORP/ For: Nov 05

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under

the Securities Exchange Act of 1934

For the month of November, 2015

Commission File Number 001-14948

 

 

Toyota Motor Corporation

(Translation of Registrant’s Name Into English)

 

 

1, Toyota-cho, Toyota City,

Aichi Prefecture 471-8571,

Japan

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F      X        Form 40-F             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):             

 

 

 

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Material Contained in this Report:

 

I.	English translations of the original Japanese-language documents, as filed with the Tokyo Stock Exchange on November 5, 2015, with respect to the registrant’s results of operations for the second quarter of FY2016, ended September 30, 2015.

 

(1)

FY2016 Second Quarter Financial Summary

 

(2)

Supplemental Material for Financial Results for FY2016 Second Quarter (Consolidated)

 

(3)

Supplemental Material for Financial Results for FY2016 Second Quarter (Unconsolidated)

 

II.	English translation of the Notice Concerning Distribution of Interim Dividends from Surplus, as filed by the registrant with the Tokyo Stock Exchange on November 5, 2015.

 

III.	English translation of the Notice Concerning the Status and Completion of the Repurchase of Shares of our Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 5, 2015.

 

IV.	English translation of the Notice Concerning Change of Part of Matters Relating to the Repurchase of Shares of Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 5, 2015.

 

V.	English translation of the Notice Concerning the Determination of Matters Relating to the Repurchase of Shares of Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 5, 2015.

 

VI.	English translation of the Notice Concerning the Cancellation of Shares of Common Stock, as filed by the registrant with the Tokyo Stock Exchange on November 5, 2015.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: November 5, 2015

Table of Contents

FINANCIAL SUMMARY

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

FY2016 Second Quarter

(April 1, 2015 through September 30, 2015)

English translation from the original Japanese-language document

TOYOTA MOTOR CORPORATION

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Table of Contents

FY2016 Second Quarter Consolidated Financial Results

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

English translation from the original Japanese-language document

November 5, 2015

 

Company name		: Toyota Motor Corporation
Stock exchanges on which the shares are listed		: Tokyo, Nagoya, Sapporo and Fukuoka Stock   Exchanges in Japan
Code number		: 7203
URL		: http://www.toyota.co.jp
Representative		: Akio Toyoda, President
Contact person		: Tetsuya Otake, Managing Officer   Tel. (0565)28-2121
Filing date of quarterly securities report		: November 12, 2015
Payment date of cash dividends		: November 27, 2015
Supplemental materials prepared for quarterly financial results		: yes
Earnings announcement for quarterly financial results		: yes

(Amounts are rounded to the nearest million yen)

 

1.	Consolidated Results for FY2016 First Half (April 1, 2015 through September 30, 2015)

 

(1)	Consolidated financial results (For the six months ended September 30)

 

		(% of change from previous first half)
		Net revenues								Operating income								Income before income taxes and equity in earnings  of affiliated companies								Net income attributable to Toyota Motor Corporation
		Million yen				%				Million yen				%				Million yen				%				Million yen				%
FY2016 first half			14,091,488				8.9				1,583,405				17.1				1,675,151				11.0				1,258,112				11.6
FY2015 first half			12,945,597				3.3				1,351,946				7.7				1,509,174				12.3				1,126,836				12.6

 

(Note) Comprehensive income: FY2016 first half 925,033 million yen (-40.3%), FY2015 first half 1,549,136 million yen (5.6%)

 

		Net income attributable to Toyota Motor Corporation per common share  –  Basic				Net income attributable to Toyota Motor Corporation per common share  –  Diluted
		Yen				Yen
FY2016 first half			399.39				397.75
FY2015 first half			356.08				355.91

 

(2)	Consolidated financial position

 

		Total assets				Mezzanine equity and Shareholders’ equity				Toyota Motor  Corporation shareholders’ equity				Ratio of Toyota Motor Corporation shareholders’ equity
		Million yen				Million yen				Million yen				%
FY2016 second quarter			48,574,586				18,348,046				17,039,650				35.1
FY2015			47,729,830				17,647,329				16,788,131				35.2

 

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
FY2015			—				75.00				—				125.00				200.00
FY2016			—				100.00
FY2016 (forecast)											—				—				—

 

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

 

3.	Forecast of Consolidated Results for FY2016 (April 1, 2015 through March 31, 2016)

 

		(% of change from FY2015)
		Net revenues								Operating income								Income before income taxes and equity in earnings  of affiliated companies								Net income attributable to Toyota Motor Corporation								Net income attributable to Toyota Motor Corporation per common share – Basic
		Million yen				%				Million yen				%				Million yen				%				Million yen				%				Yen
Full-year			27,500,000				1.0				2,800,000				1.8				2,980,000				3.0				2,250,000				3.5				713.76

 

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

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Table of Contents

Notes

 

(1)	Changes in significant subsidiaries during the current quarter

(Changes in specified subsidiaries that caused a change in the scope of consolidation): none

 

(2)	Simplified accounting procedures and specific accounting procedures: yes

Note: For more details, please see page 5 “Other Information”.

 

(3)	Changes in accounting policies

 

(i)

Changes by a newly issued accounting pronouncement: yes

 

(ii)

Changes other than (3)-(i) above: none

Note: For more details, please see page 5 “Other Information”.

 

(4)	Number of shares issued and outstanding (common stock)

 

(i)

Number of shares issued and outstanding at the end of each period (including treasury stock):

FY2016 second quarter 3,417,997,492 shares, FY2015 3,417,997,492 shares

 

(ii)

Number of treasury stock at the end of each period: FY2016 second quarter 304,236,881 shares,

FY2015 271,183,861 shares

 

(iii)

Average number of shares issued and outstanding in each period: FY2016 first half 3,143,911,710 shares,

FY2015 first half 3,164,550,674 shares

Information Regarding the Quarterly Review Procedures

At the time of disclosure of this report, the procedures for review of quarterly consolidated financial statements, pursuant to the “Financial Instruments and Exchange Act” of Japan, have not been completed.

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. 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, 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 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.

This report contains summarized and condensed financial information prepared in accordance with U.S. generally accepted accounting principles.

(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 quarter

End of second quarter

End of third quarter

Year-end

Total

Yen

Yen

Yen

Yen

Yen

FY2016

—

26.00

FY2016 (forecast)

—

—

—

 

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

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

TABLE OF CONTENTS

 

1.  Information Concerning Consolidated Financial Results for FY2016 First Half			2
(1) Financial Results			2
(2) Segment Operating Results			2
(3) Geographic Information			3
2.  Information Concerning Forecast of Consolidated Financial Results for FY2016			4
3.  Other Information			5
(1) Changes in significant subsidiaries during the current period			5
(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements			5
(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements			5
4.  Consolidated Production and Sales			6
(1) Production			6
(2) Sales (by destination)			6
5.  Consolidated Financial Statements			7
(1) Consolidated Balance Sheets			7
(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income			9
(3) Consolidated Statements of Cash Flows			13
(4) Going Concern Assumption			14
(5) Segment Information			14
(6) Significant Changes in Shareholders’ Equity			16

 

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

1.	Information Concerning Consolidated Financial Results for FY2016 First Half

 

(1)	Financial Results

Consolidated vehicle unit sales in Japan and overseas decreased by 199 thousand units, or 4.4%, to 4,278 thousand units in FY2016 first half (the six months ended September 30, 2015) compared with FY2015 first half (the six months ended September 30, 2014). Vehicle unit sales in Japan decreased by 46 thousand units, or 4.4%, to 984 thousand units in FY2016 first half compared with FY2015 first half. Overseas vehicle unit sales decreased by 153 thousand units, or 4.4%, to 3,294 thousand units in FY2016 first half compared with FY2015 first half.

As for the results of operations, net revenues increased by 1,145.8 billion yen, or 8.9%, to 14,091.4 billion yen in FY2016 first half compared with FY2015 first half, and operating income increased by 231.4 billion yen, or 17.1%, to 1,583.4 billion yen in FY2016 first half compared with FY2015 first half. The factors contributing to an increase in operating income were the effects of changes in exchange rates of 305.0 billion yen, cost reduction efforts of 140.0 billion yen, and other factors of 16.4 billion yen. On the other hand, the factors contributing to a decrease in operating income were the increase in expenses and others of 170.0 billion yen and the effects of marketing activities of 60.0 billion yen. Income before income taxes and equity in earnings of affiliated companies increased by 165.9 billion yen, or 11.0%, to 1,675.1 billion yen in FY2016 first half compared with FY2015 first half. Net income attributable to Toyota Motor Corporation increased by 131.2 billion yen, or 11.6%, to 1,258.1 billion yen in FY2016 first half compared with FY2015 first half.

(2) Segment Operating Results

(i) Automotive:

Net revenues for the automotive operations increased by 935.6 billion yen, or 7.8%, to 12,882.9 billion yen in FY2016 first half compared with FY2015 first half, and operating income increased by 251.0 billion yen, or 22.0%, to 1,391.3 billion yen in FY2016 first half compared with FY2015 first half. The increase in operating income was mainly due to the effects of changes in exchange rates and cost reduction efforts.

(ii) Financial services:

Net revenues for the financial services operations increased by 172.6 billion yen, or 22.2%, to 949.9 billion yen in FY2016 first half compared with FY2015 first half. However, operating income decreased by 18.6 billion yen, or 10.1%, to 165.8 billion yen in FY2016 first half compared with FY2015 first half. The decrease in operating income was mainly due to the recording of valuation losses on interest rate swaps stated at fair value in sales finance subsidiaries.

(iii) All other:

Net revenues for all other businesses decreased by 3.6 billion yen, or 0.7%, to 551.5 billion yen in FY2016 first half compared with FY2015 first half, and operating income decreased by 1.1 billion yen, or 4.1%, to 27.2 billion yen in FY2016 first half compared with FY2015 first half.

 

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(3) Geographic Information

(i) Japan:

Net revenues in Japan increased by 371.3 billion yen, or 5.4%, to 7,222.1 billion yen in FY2016 first half compared with FY2015 first half, and operating income increased by 239.4 billion yen, or 33.3%, to 958.2 billion yen in FY2016 first half compared with FY2015 first half. The increase in operating income was mainly due to the effects of changes in exchange rates and cost reduction efforts.

(ii) North America:

Net revenues in North America increased by 1,031.0 billion yen, or 22.9%, to 5,530.7 billion yen in FY2016 first half compared with FY2015 first half. However, operating income decreased by 37.2 billion yen, or 11.9%, to 275.3 billion yen in FY2016 first half compared with FY2015 first half. The decrease in operating income was mainly due to the increase in expenses and others, and the recording of valuation losses on interest rate swaps stated at fair value in sales finance subsidiaries.

(iii) Europe:

Net revenues in Europe decreased by 56.5 billion yen, or 4.1%, to 1,309.3 billion yen in FY2016 first half compared with FY2015 first half, and operating income decreased by 2.9 billion yen, or 8.9%, to 30.2 billion yen in FY2016 first half compared with FY2015 first half.

(iv) Asia:

Net revenues in Asia increased by 58.4 billion yen, or 2.5%, to 2,441.0 billion yen in FY2016 first half compared with FY2015 first half, and operating income increased by 31.2 billion yen, or 14.7%, to 244.1 billion yen in FY2016 first half compared with FY2015 first half. The increase in operating income was mainly due to the effects of changes in exchange rates and cost reduction efforts.

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

Net revenues in other regions decreased by 21.2 billion yen, or 1.8%, to 1,184.8 billion yen in FY2016 first half compared with FY2015 first half, and operating income decreased by 11.0 billion yen, or 14.2%, to 66.8 billion yen in FY2016 first half compared with FY2015 first half. The decrease in operating income was mainly due to the increase in expenses and others.

 

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

2.	Information Concerning Forecast of Consolidated Financial Results for FY2016

Reflecting the current trend of financial results, although there was a revision in our sales plans, based on changes in foreign currency exchange rates and other factors, the current forecast of consolidated financial results for FY2016 (April 1, 2015 through March 31, 2016) is set forth below. This forecast assumes average exchange rates through the fiscal year of 118 yen per US$1 and 133 yen per 1 euro.

Forecast of consolidated results for FY2016

 

Net revenues		27,500.0 billion yen		(an increase of 1.0% compared with FY2015)
Operating income		2,800.0 billion yen		(an increase of 1.8% compared with FY2015)
Income before income taxes and equity in earnings of affiliated companies		2,980.0 billion yen		(an increase of 3.0% compared with FY2015)
Net income attributable to Toyota Motor Corporation		2,250.0 billion yen		(an increase of 3.5% compared with FY2015)

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 Russian ruble, the Canadian dollar and the British pound, 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 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.

 

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Table of Contents

TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

3.	Other Information

(1) Changes in significant subsidiaries during the current period

(Changes in specified subsidiaries that caused a change in the scope of consolidation)

None

(2) Simplified accounting procedures and accounting procedures specific to quarterly consolidated financial statements

Provision for income taxes

The provision for income taxes is computed by multiplying income before income taxes and equity in earnings of affiliated companies for the first half by estimated annual effective tax rates. These estimated annual effective tax rates reflect anticipated investment tax credits, foreign tax credits and other items, including changes in valuation allowances, that are expected to affect estimated annual effective tax rates.

(3) Changes in accounting principles, procedures, and disclosures for consolidated financial statements

In April 2014, the Financial Accounting Standards Board issued updated guidance on reporting discontinued operations and disclosures of disposals of components of an entity. Under the new guidance, only disposals that represent a strategic shift and that have (or will have) a major effect on an entity’s operations and financial results should be presented as discontinued operations. The parent company and its consolidated subsidiaries (“Toyota”) adopted this guidance on April 1, 2015. The adoption of this guidance did not have a material impact on Toyota’s consolidated financial statements.

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

4.	Consolidated Production and Sales

(1) Production

 

				(Units)
Business segment				FY2015 first half (Six  months ended September 30, 2014)				FY2016 first half (Six  months ended September 30, 2015)				Increase (Decrease)
Automotive		Japan			2,047,052				1,940,800				(106,252	)
		North America			970,668				989,386				18,718
		Europe			252,111				267,303				15,192
		Asia			928,834				810,050				(118,784	)
		Other			249,535				251,704				2,169
		Total			4,448,200				4,259,243				(188,957	)
Other		Housing			2,288				2,484				196
Business segment				FY2015 second quarter (Three months ended September 30,  2014)				FY2016 second quarter (Three months ended September 30,  2015)				Increase (Decrease)
Automotive		Japan			1,031,055				999,338				(31,717	)
		North America			467,151				461,956				(5,195	)
		Europe			125,024				132,402				7,378
		Asia			454,968				438,301				(16,667	)
		Other			131,266				134,132				2,866
		Total			2,209,464				2,166,129				(43,335	)
Other		Housing			1,248				1,476				228

 

Note:

1 Production in “Automotive” indicates production units of new vehicles.

2 “Other” in “Automotive” consists of Central and South America, Oceania and Africa.

(2) Sales (by destination)

 

				(Units)
Business segment				FY2015 first half (Six  months ended September 30, 2014)				FY2016 first half (Six  months ended September 30, 2015)				Increase (Decrease)
Automotive		Japan			1,030,229				984,397				(45,832	)
		North America			1,395,105				1,413,064				17,959
		Europe			414,217				407,352				(6,865	)
		Asia			754,818				653,566				(101,252	)
		Other			882,153				819,628				(62,525	)
		Total			4,476,522				4,278,007				(198,515	)
Other		Housing			2,183				2,424				241
Business segment				FY2015 second quarter (Three months ended September 30,  2014)				FY2016 second quarter (Three months ended September 30,  2015)				Increase (Decrease)
Automotive		Japan			524,402				514,426				(9,976	)
		North America			684,696				684,251				(445	)
		Europe			206,736				200,978				(5,758	)
		Asia			369,442				324,964				(44,478	)
		Other			449,961				439,388				(10,573	)
		Total			2,235,237				2,164,007				(71,230	)
Other		Housing			1,285				1,533				248

 

Note:

1 Sales in “Automotive” indicates sales units of new vehicles.

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

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

5.	Consolidated Financial Statements

(1) Consolidated Balance Sheets

 

		(Yen in millions)
		FY2015 (March 31,  2015)				FY2016 second  quarter (September 30, 2015)				Increase (Decrease)
Assets
Current assets:
Cash and cash equivalents			2,284,557				2,690,851				406,294
Time deposits			149,321				728,959				579,638
Marketable securities			2,782,099				2,155,854				(626,245	)
Trade accounts and notes receivable, less allowance for doubtful accounts			2,108,660				1,988,350				(120,310	)
Finance receivables, net			6,269,862				5,990,369				(279,493	)
Other receivables			420,708				421,158				450
Inventories			2,137,618				2,195,186				57,568
Deferred income taxes			978,179				940,538				(37,641	)
Prepaid expenses and other current assets			805,393				1,713,842				908,449
Total current assets			17,936,397				18,825,107				888,710
Noncurrent finance receivables, net			9,202,531				9,094,362				(108,169	)
Investments and other assets:
Marketable securities and other securities investments			7,632,126				7,415,383				(216,743	)
Affiliated companies			2,691,460				2,559,817				(131,643	)
Employees receivables			45,206				42,848				(2,358	)
Other			926,391				1,025,199				98,808
Total investments and other assets			11,295,183				11,043,247				(251,936	)
Property, plant and equipment:
Land			1,354,815				1,349,379				(5,436	)
Buildings			4,282,839				4,312,809				29,970
Machinery and equipment			10,945,377				11,096,623				151,246
Vehicles and equipment on operating leases			5,199,986				5,550,312				350,326
Construction in progress			581,412				453,504				(127,908	)
Total property, plant and equipment, at cost			22,364,429				22,762,627				398,198
Less – Accumulated depreciation			(13,068,710	)			(13,150,757	)			(82,047	)
Total property, plant and equipment, net			9,295,719				9,611,870				316,151
Total assets			47,729,830				48,574,586				844,756

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

		(Yen in millions)
		FY2015 (March 31, 2015)				FY2016 second quarter (September 30, 2015)				Increase (Decrease)
Liabilities
Current liabilities:
Short-term borrowings			5,048,188				5,206,651				158,463
Current portion of long-term debt			3,915,304				4,095,230				179,926
Accounts payable			2,410,588				2,320,678				(89,910	)
Other payables			913,013				777,110				(135,903	)
Accrued expenses			2,668,666				2,586,892				(81,774	)
Income taxes payable			348,786				364,509				15,723
Other current liabilities			1,126,951				1,128,233				1,282
Total current liabilities			16,431,496				16,479,303				47,807
Long-term liabilities:
Long-term debt			10,014,395				10,200,850				186,455
Accrued pension and severance costs			880,293				870,363				(9,930	)
Deferred income taxes			2,298,469				2,210,001				(88,468	)
Other long-term liabilities			457,848				466,023				8,175
Total long-term liabilities			13,651,005				13,747,237				96,232
Total liabilities			30,082,501				30,226,540				144,039
Mezzanine equity
Model AA Class Shares, no par value, authorized: 0 share at March 31, 2015 and 150,000,000 shares at September 30, 2015 issued: 0 share at March 31, 2015 and 47,100,000 shares at September 30, 2015			—				477,377				477,377
Shareholders’ equity
Toyota Motor Corporation shareholders’ equity:
Common stock, no par value, authorized: 10,000,000,000 shares at March 31, 2015 and September 30, 2015 issued: 3,417,997,492 shares at March 31, 2015 and September 30, 2015			397,050				397,050				—
Additional paid-in capital			547,054				547,439				385
Retained earnings			15,591,947				16,454,247				862,300
Accumulated other comprehensive income (loss)			1,477,545				1,112,870				(364,675	)
Treasury stock, at cost, 271,183,861 shares at March 31, 2015 and 304,236,881 shares at September 30, 2015			(1,225,465	)			(1,471,956	)			(246,491	)
Total Toyota Motor Corporation shareholders’ equity			16,788,131				17,039,650				251,519
Noncontrolling interests			859,198				831,019				(28,179	)
Total shareholders’ equity			17,647,329				17,870,669				223,340
Commitments and contingencies
Total liabilities, mezzanine equity and shareholders’ equity			47,729,830				48,574,586				844,756

 

Note: The total number of authorized shares for common stock and Model AA Class Shares is 10,000,000,000 shares.

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

 

First half for the six months ended September 30
Consolidated Statements of Income
		(Yen in millions)
		FY2015 first half (Six months ended September 30, 2014)				FY2016 first half (Six months ended September 30, 2015)				Increase (Decrease)
Net revenues:
Sales of products			12,187,394				13,162,616				975,222
Financing operations			758,203				928,872				170,669
Total net revenues			12,945,597				14,091,488				1,145,891
Costs and expenses:
Cost of products sold			9,925,576				10,518,787				593,211
Cost of financing operations			421,969				588,751				166,782
Selling, general and administrative			1,246,106				1,400,545				154,439
Total costs and expenses			11,593,651				12,508,083				914,432
Operating income			1,351,946				1,583,405				231,459
Other income (expense):
Interest and dividend income			73,043				83,036				9,993
Interest expense			(9,469	)			(19,658	)			(10,189	)
Foreign exchange gain, net			64,161				36,590				(27,571	)
Other income (loss), net			29,493				(8,222	)			(37,715	)
Total other income (expense)			157,228				91,746				(65,482	)
Income before income taxes and equity in earnings of affiliated companies			1,509,174				1,675,151				165,977
Provision for income taxes			493,591				516,368				22,777
Equity in earnings of affiliated companies			165,896				161,662				(4,234	)
Net income			1,181,479				1,320,445				138,966
Less – Net income attributable to noncontrolling interests			(54,643	)			(62,333	)			(7,690	)
Net income attributable to Toyota Motor Corporation*			1,126,836				1,258,112				131,276
*   Net income attributable to common shareholders for the first half ended September 30, 2015 is 1,255,652 million yen, which is derived by deducting dividend and accretion to Model AA Class Shares of 2,460 million yen from Net income attributable to Toyota Motor Corporation.
		(Yen)
Net income attributable to Toyota Motor Corporation per common share
Basic			356.08				399.39				43.31
Diluted			355.91				397.75				41.84

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

 

Consolidated Statements of Comprehensive Income
		(Yen in millions)
		FY2015 first half (Six  months ended September 30, 2014)				FY2016 first half (Six  months ended September 30, 2015)				Increase (Decrease)
Net income			1,181,479				1,320,445				138,966
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments			142,827				(142,295	)			(285,122	)
Unrealized gains (losses) on securities			223,968				(252,582	)			(476,550	)
Pension liability adjustments			862				(535	)			(1,397	)
Total other comprehensive income (loss)			367,657				(395,412	)			(763,069	)
Comprehensive income			1,549,136				925,033				(624,103	)
Less – Comprehensive income attributable to noncontrolling interests			(63,948	)			(31,596	)			32,352
Comprehensive income attributable to Toyota Motor Corporation			1,485,188				893,437				(591,751	)

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

Second quarter for the three months ended September 30
Consolidated Statements of Income
		(Yen in millions)
		FY2015 second quarter (Three months ended September 30, 2014)				FY2016 second quarter (Three months ended September 30, 2015)								Increase (Decrease)
Net revenues:
Sales of products			6,163,804				6,634,883								471,079
Financing operations			391,105				468,957								77,852
Total net revenues			6,554,909				7,103,840								548,931
Costs and expenses:
Cost of products sold			5,029,490				5,269,997								240,507
Cost of financing operations			222,880				280,376								57,496
Selling, general and administrative			643,321				726,063								82,742
Total costs and expenses			5,895,691				6,276,436								380,745
Operating income			659,218				827,404								168,186
Other income (expense):
Interest and dividend income			26,560				29,710								3,150
Interest expense			(5,555	)			(15,262	)							(9,707	)
Foreign exchange gain, net			51,176				2,402								(48,774	)
Other income (loss), net			5,949				(14,362	)							(20,311	)
Total other income (expense)			78,130				2,488								(75,642	)
Income before income taxes and equity in earnings of affiliated companies			737,348				829,892								92,544
Provision for income taxes			233,618				248,411								14,793
Equity in earnings of affiliated companies			60,567				60,760								193
Net income			564,297				642,241								77,944
Less – Net income attributable to noncontrolling interests			(25,235	)			(30,523	)							(5,288	)
Net income attributable to Toyota Motor Corporation*			539,062				611,718								72,656
*   Net income attributable to common shareholders for the second quarter ended September 30, 2015 is 609,258 million yen, which is derived by deducting dividend and accretion to Model AA Class Shares of 2,460 million yen from Net income attributable to Toyota Motor Corporation.
		(Yen)
Net income attributable to Toyota Motor Corporation per common share
Basic			170.62				193.97								23.35
Diluted			170.54				192.51								21.97

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

Consolidated Statements of Comprehensive Income

		(Yen in millions)
		FY2015 second  quarter (Three months ended September 30, 2014)				FY2016 second  quarter (Three months ended September 30, 2015)				Increase (Decrease)
Net income			564,297				642,241				77,944
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments			228,337				(227,562	)			(455,899	)
Unrealized gains (losses) on securities			171,473				(330,242	)			(501,715	)
Pension liability adjustments			411				(2,376	)			(2,787	)
Total other comprehensive income (loss)			400,221				(560,180	)			(960,401	)
Comprehensive income			964,518				82,061				(882,457	)
Less – Comprehensive income attributable to noncontrolling interests			(40,713	)			3,045				43,758
Comprehensive income attributable to Toyota Motor Corporation			923,805				85,106				(838,699	)

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(3) Consolidated Statements of Cash Flows

 

		(Yen in millions)
		FY2015 first half (Six months ended September 30,  2014)				FY2016 first half (Six months ended September 30,  2015)
Cash flows from operating activities:
Net income			1,181,479				1,320,445
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation			648,233				784,705
Provision for doubtful accounts and credit losses			30,169				43,737
Pension and severance costs, less payments			10,896				7,293
Losses on disposal of fixed assets			10,674				18,077
Unrealized losses on available-for-sale securities, net			2,479				6,197
Deferred income taxes			57,747				53,219
Equity in earnings of affiliated companies			(165,896	)			(161,662	)
Changes in operating assets and liabilities, and other			(124,475	)			(114,488	)
Net cash provided by operating activities			1,651,306				1,957,523
Cash flows from investing activities:
Additions to finance receivables			(6,457,063	)			(7,018,921	)
Collection of and proceeds from sales of finance receivables			6,022,356				6,725,564
Additions to fixed assets excluding equipment leased to others			(477,570	)			(631,430	)
Additions to equipment leased to others			(1,080,047	)			(1,422,814	)
Proceeds from sales of fixed assets excluding equipment leased to others			22,121				14,846
Proceeds from sales of equipment leased to others			366,939				537,111
Purchases of marketable securities and security investments			(1,343,269	)			(915,383	)
Proceeds from sales of and maturity of marketable securities and security investments			1,262,020				1,580,087
Changes in investments and other assets, and other			76,305				(1,025,228	)
Net cash used in investing activities			(1,608,208	)			(2,156,168	)
Cash flows from financing activities:
Proceeds from issuance of long-term debt			2,080,226				2,806,288
Payments of long-term debt			(1,283,305	)			(2,150,070	)
Increase (decrease) in short-term borrowings			(82,249	)			230,267
Proceeds from issuance of class shares			—				474,917
Dividends paid to Toyota Motor Corporation common shareholders			(316,977	)			(393,352	)
Dividends paid to noncontrolling interests			(50,483	)			(59,027	)
Reissuance (repurchase) of treasury stock			(167,955	)			(245,819	)
Net cash provided by financing activities			179,257				663,204
Effect of exchange rate changes on cash and cash equivalents			45,797				(58,265	)
Net increase in cash and cash equivalents			268,152				406,294
Cash and cash equivalents at beginning of period			2,041,170				2,284,557
Cash and cash equivalents at end of period			2,309,322				2,690,851

 

Note:		In the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, bank deposits that can be withdrawn at any time and short-term investments that can be converted into cash at any time and carry minimal risk of change in value.

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(4) Going Concern Assumption

          None

(5) Segment Information

(i) Segment Operating Results

FY2015 first half (Six months ended September 30, 2014)

 

		(Yen in millions)
		Automotive				Financial Services				All Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			11,919,067				758,203				268,327				—				12,945,597
Inter-segment sales and transfers			28,199				19,171				286,904				(334,274	)			—
Total			11,947,266				777,374				555,231				(334,274	)			12,945,597
Operating expenses			10,806,994				592,859				526,823				(333,025	)			11,593,651
Operating income			1,140,272				184,515				28,408				(1,249	)			1,351,946
FY2016 first half (Six months ended September 30, 2015)
		(Yen in millions)
		Automotive				Financial Services				All Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			12,856,840				928,872				305,776				—				14,091,488
Inter-segment sales and transfers			26,091				21,109				245,772				(292,972	)			—
Total			12,882,931				949,981				551,548				(292,972	)			14,091,488
Operating expenses			11,491,577				784,138				524,313				(291,945	)			12,508,083
Operating income			1,391,354				165,843				27,235				(1,027	)			1,583,405
FY2015 second quarter (Three months ended September 30, 2014)
		(Yen in millions)
		Automotive				Financial Services				All Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			6,018,997				391,105				144,807				—				6,554,909
Inter-segment sales and transfers			13,602				8,841				152,108				(174,551	)			—
Total			6,032,599				399,946				296,915				(174,551	)			6,554,909
Operating expenses			5,479,079				313,644				279,306				(176,338	)			5,895,691
Operating income			553,520				86,302				17,609				1,787				659,218
FY2016 second quarter (Three months ended September 30, 2015)
		(Yen in millions)
		Automotive				Financial Services				All Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			6,458,452				468,957				176,431				—				7,103,840
Inter-segment sales and transfers			13,089				10,722				118,168				(141,979	)			—
Total			6,471,541				479,679				294,599				(141,979	)			7,103,840
Operating expenses			5,757,750				384,009				279,647				(144,970	)			6,276,436
Operating income			713,791				95,670				14,952				2,991				827,404

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(ii) Geographic Information

FY2015 first half (Six months ended September 30, 2014)

 

		(Yen in millions)
		Japan				North America				Europe				Asia				Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			3,969,582				4,377,124				1,300,200				2,185,524				1,113,167				—				12,945,597
Inter-segment sales and transfers			2,881,231				122,627				65,674				197,093				92,863				(3,359,488	)			—
Total			6,850,813				4,499,751				1,365,874				2,382,617				1,206,030				(3,359,488	)			12,945,597
Operating expenses			6,132,046				4,187,084				1,332,670				2,169,697				1,128,074				(3,355,920	)			11,593,651
Operating income			718,767				312,667				33,204				212,920				77,956				(3,568	)			1,351,946
FY2016 first half (Six months ended September 30, 2015)
		(Yen in millions)
		Japan				North America				Europe				Asia				Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			4,149,579				5,416,766				1,244,296				2,204,258				1,076,589				—				14,091,488
Inter-segment sales and transfers			3,072,596				114,026				65,017				236,834				108,233				(3,596,706	)			—
Total			7,222,175				5,530,792				1,309,313				2,441,092				1,184,822				(3,596,706	)			14,091,488
Operating expenses			6,263,942				5,255,398				1,279,062				2,196,962				1,117,928				(3,605,209	)			12,508,083
Operating income			958,233				275,394				30,251				244,130				66,894				8,503				1,583,405
Note: “Other” consists of Central and South America, Oceania, Africa and the Middle East.
FY2015 second quarter (Three months ended September 30, 2014)
		(Yen in millions)
		Japan				North America				Europe				Asia				Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			2,061,111				2,180,798				678,830				1,071,480				562,690				—				6,554,909
Inter-segment sales and transfers			1,493,171				59,830				36,386				113,709				51,382				(1,754,478	)			—
Total			3,554,282				2,240,628				715,216				1,185,189				614,072				(1,754,478	)			6,554,909
Operating expenses			3,201,478				2,093,497				692,880				1,082,655				570,167				(1,744,986	)			5,895,691
Operating income			352,804				147,131				22,336				102,534				43,905				(9,492	)			659,218
FY2016 second quarter (Three months ended September 30, 2015)
		(Yen in millions)
		Japan				North America				Europe				Asia				Other				Inter-segment Elimination				Consolidated
Net revenues:
Sales to external customers			2,142,419				2,635,474				636,733				1,160,467				528,747				—				7,103,840
Inter-segment sales and transfers			1,577,794				54,873				28,556				137,648				59,800				(1,858,671	)			—
Total			3,720,213				2,690,347				665,289				1,298,115				588,547				(1,858,671	)			7,103,840
Operating expenses			3,237,834				2,541,813				642,897				1,154,082				559,681				(1,859,871	)			6,276,436
Operating income			482,379				148,534				22,392				144,033				28,866				1,200				827,404
Note: “Other” consists of Central and South America, Oceania, Africa and the Middle East.

 

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TOYOTA MOTOR CORPORATION    FY2016 Second Quarter Financial Summary

(All financial information has been prepared in accordance with U.S. generally accepted accounting principles)

 

(6) Significant Changes in Shareholders’ Equity

          None

 

16

Supplemental Material for Financial Results for FY2016 Second Quarter (Consolidated)

< U.S. GAAP >

 

 

		FY2015																								FY2016												FY2016
		1Q (2014/4-6)				2Q (2014/7-9)				First Half 6 months (2014/4-9)				3Q (2014/10-12)				4Q (2015/1-3)				12 months (’14/4-’15/3)				1Q (2015/4-6)				2Q (2015/7-9)				First Half 6 months (2015/4-9)				Forecast 12 months (’15/4-’16/3)
Vehicle Production (thousands of units)			2,239				2,209				4,448				2,196				2,286				8,930				2,093				2,166				4,259
(Japan) – including Daihatsu & Hino			1,016				1,031				2,047				994				1,084				4,125				941				1,000				1,941
[Daihatsu & Hino]			[232	]			[216	]			[449	]			[230	]			[261	]			[939	]			[193	]			[187	]			[380	]
(Overseas) – including Daihatsu & Hino			1,223				1,178				2,401				1,202				1,202				4,805				1,152				1,166				2,318
[Daihatsu & Hino]			[81	]			[83	]			[164	]			[77	]			[79	]			[320	]			[80	]			[68	]			[148	]
North America			504				467				970				486				476				1,933				527				462				989
Europe			127				125				252				150				154				556				135				132				267
Asia			474				454				929				439				462				1,829				372				438				810
Central and South America			67				71				138				69				59				267				65				75				140
Oceania			20				27				47				25				17				88				24				28				52
Africa			31				34				65				33				34				132				29				31				60
Vehicle Sales (thousands of units)			2,241				2,235				4,477				2,263				2,233				8,972				2,114				2,164				4,278				8,750
(Japan) – including Daihatsu & Hino			506				524				1,030				498				626				2,154				470				514				984				2,120
[Daihatsu & Hino]			[155	]			[150	]			[305	]			[165	]			[220	]			[690	]			[129	]			[137	]			[266	]			[620	]
(Overseas) – including Daihatsu & Hino			1,735				1,711				3,447				1,765				1,607				6,818				1,644				1,650				3,294				6,630
[Daihatsu & Hino]			[72	]			[82	]			[154	]			[75	]			[76	]			[304	]			[76	]			[66	]			[142	]			[260	]
North America			710				685				1,395				712				607				2,715				729				684				1,413				2,850
Europe			207				207				414				220				225				859				206				201				407				840
Asia			385				369				755				374				361				1,489				328				325				654				1,320
Central and South America			106				110				216				106				101				422				98				112				209				400
Oceania			58				63				121				67				61				250				62				61				123				250
Africa			61				63				123				62				60				245				52				55				107				200
Middle East			206				213				419				222				190				830				167				210				377				770
Other			2				1				4				2				2				8				2				2				4
Total Retail Unit Sales (thousands of units) [Toyota, Daihatsu and Hino]			2,513				2,519				5,032				2,615				2,520				10,168				2,502				2,477				4,979				10,000
Housing Sales (units)			898				1,285				2,183				1,210				2,542				5,935				891				1,533				2,424				6,000

 

Supplemental 1

---

Supplemental Material for Financial Results for FY2016 Second Quarter (Consolidated)

< U.S. GAAP >

 

 

		FY2015																								FY2016												FY2016
		1Q (2014/4-6)				2Q (2014/7-9)				First Half 6 months (2014/4-9)				3Q (2014/10-12)				4Q (2015/1-3)				12 months (’14/4-’15/3)				1Q (2015/4-6)				2Q (2015/7-9)				First Half 6 months (2015/4-9)				Forecast 12 months (’15/4-’16/3)
Foreign Exchange Rates
Yen to US Dollar Rate			102				104				103				114				119				110				121				122				122				as premise: 118
Yen to Euro Rate			140				138				139				143				134				139				134				136				135				as premise: 133
Market Share (Japan)
Toyota (excluding Mini-Vehicles) (%)			47.5				45.9				46.6				46.7				44.6				46.0				47.9				45.4				46.6				approximately: 47.0
Toyota, Daihatsu and Hino (including Mini-Vehicles) (%)			42.2				41.1				41.6				42.9				41.2				41.8				43.3				42.3				42.7
Number of Employees			342,872				343,511				343,511				343,716				344,109				344,109				349,131				349,508				349,508	(Note 1)
Net Revenues (billions of yen)			6,390.6				6,554.9				12,945.5				7,170.0				7,118.9				27,234.5				6,987.6				7,103.8				14,091.4				27,500.0
Geographic Information
Japan			3,296.5				3,554.2				6,850.8				3,655.8				3,897.1				14,403.8				3,501.9				3,720.2				7,222.1
North America			2,259.1				2,240.6				4,499.7				2,655.0				2,522.8				9,677.5				2,840.4				2,690.3				5,530.7
Europe			650.6				715.2				1,365.8				771.3				711.0				2,848.2				644.0				665.2				1,309.3
Asia			1,197.4				1,185.1				2,382.6				1,318.3				1,280.2				4,981.2				1,142.9				1,298.1				2,441.0
Other			591.9				614.0				1,206.0				684.2				558.9				2,449.2				596.2				588.5				1,184.8
Elimination			-1,605.0				-1,754.4				-3,359.4				-1,914.8				-1,851.4				-7,125.7				-1,738.0				-1,858.6				-3,596.7
Business Segment
Automotive			5,914.6				6,032.5				11,947.2				6,609.6				6,505.1				25,062.1				6,411.3				6,471.5				12,882.9
Financial Services			377.4				399.9				777.3				437.7				446.0				1,661.1				470.3				479.6				949.9
All Other			258.3				296.9				555.2				301.0				399.4				1,255.7				256.9				294.5				551.5
Elimination			-159.7				-174.5				-334.2				-178.4				-231.7				-744.5				-150.9				-141.9				-292.9
Operating Income (billions of yen)			692.7				659.2				1,351.9				762.8				635.7				2,750.5				756.0				827.4				1,583.4				2,800.0
(Operating Income Ratio) (%)			(10.8	)			(10.1	)			(10.4	)			(10.6	)			(8.9	)			(10.1	)			(10.8	)			(11.6	)			(11.2	)			(10.2	)
Geographic Information
Japan			365.9				352.8				718.7				424.8				427.8				1,571.4				475.8				482.3				958.2
North America			165.5				147.1				312.6				183.7				88.0				584.5				126.8				148.5				275.3
Europe			10.8				22.3				33.2				33.2				14.6				81.1				7.8				22.3				30.2
Asia			110.3				102.5				212.9				107.6				101.1				421.7				100.0				144.0				244.1
Other			34.0				43.9				77.9				29.3				4.2				111.5				38.0				28.8				66.8
Elimination			5.9				-9.4				-3.5				-15.9				-0.2				-19.8				7.3				1.2				8.5
Business Segment
Automotive			586.7				553.5				1,140.2				651.3				533.7				2,325.3				677.5				713.7				1,391.3
Financial Services			98.2				86.3				184.5				100.5				76.7				361.8				70.1				95.6				165.8
All Other			10.7				17.6				28.4				14.8				22.4				65.6				12.2				14.9				27.2
Elimination			-3.0				1.7				-1.2				-3.7				2.8				-2.2				-4.0				2.9				-1.0
Income before Income Taxes (billions of yen)			771.8				737.3				1,509.1				846.4				537.1				2,892.8				845.2				829.8				1,675.1				2,980.0
(Income before Income Taxes Ratio) (%)			(12.1	)			(11.2	)			(11.7	)			(11.8	)			(7.5	)			(10.6	)			(12.1	)			(11.7	)			(11.9	)			(10.8	)
Equity in Earnings of Affiliated Companies (billions of yen)			105.3				60.5				165.8				85.1				57.5				308.5				100.9				60.7				161.6				310.0
Net Income (billions of yen)			587.7				539.0				1,126.8				600.0				446.4				2,173.3				646.3				611.7				1,258.1				2,250.0	(Note 2)
(Net Income Ratio) (%)			(9.2	)			(8.2	)			(8.7	)			(8.4	)			(6.3	)			(8.0	)			(9.3	)			(8.6	)			(8.9	)			(8.2	)
Shareholder Return
Common Shares
Cash Dividends (billions of yen)			—				237.9				237.9				—				393.3				631.3				—				311.3				311.3	(Note 3)
Cash Dividends per Share (yen)			—				75				75				—				125				200				—				100				100
Payout Ratio (%)			—				21.1				21.1				—				37.6				29.0				—				25.0				25.0
Value of Shares Repurchased (billions of yen)			—				169.6				169.6				190.3				—				359.9				—				249.1				249.1
Number of Shares Canceled (thousands)			30,000				—				30,000				—				—				30,000				—				—				—
Model AA Class Shares
Cash Dividends (billions of yen)			—				—				—				—				—				—				—				1.2				1.2
Cash Dividends per Share (yen)			—				—				—				—				—				—				—				26				26
Number of Outstanding Common Shares (thousands)			3,417,997				3,417,997				3,417,997				3,417,997				3,417,997				3,417,997				3,417,997				3,417,997				3,417,997
Number of Outstanding Model AA Class Shares (thousands)			—				—				—				—				—				—				—				47,100				47,100

 

Supplemental 2

---

Supplemental Material for Financial Results for FY2016 Second Quarter (Consolidated)

< U.S. GAAP >

 

 

		FY2015																								FY2016												FY2016
		1Q (2014/4-6)				2Q (2014/7-9)				First Half 6 months (2014/4-9)				3Q (2014/10-12)				4Q (2015/1-3)				12 months (’14/4-’15/3)				1Q (2015/4-6)				2Q (2015/7-9)				First Half 6 months (2015/4-9)				Forecast 12 months (’15/4-’16/3)
R&D Expenses (billions of yen)			245.1				244.3				489.4				253.0				262.0				1,004.5				265.7				264.1				529.8				1,060.0
Depreciation Expenses (billions of yen)			183.2				193.0				376.2				209.1				220.8				806.2				200.3				216.7				417.0				880.0	(Note 4)
Geographic Information
Japan			92.8				101.7				194.5				112.3				127.3				434.2				99.5				115.7				215.3				450.0
North America			41.1				39.4				80.6				42.1				44.5				167.3				49.2				49.5				98.7				200.0
Europe			15.2				15.4				30.7				14.0				10.2				54.9				12.5				12.2				24.7				50.0
Asia			26.7				27.3				54.1				31.9				30.5				116.6				30.1				32.7				62.8				140.0
Other			7.2				9.0				16.2				8.5				8.2				33.0				8.9				6.4				15.4				40.0
Capital Expenditures (billions of yen)			208.2				231.9				440.2				265.8				471.3				1,177.4				300.1				260.4				560.6				1,210.0	(Note 4)
Geographic Information
Japan			97.8				119.3				217.1				119.8				238.9				575.9				109.1				141.6				250.7				580.0
North America			43.6				41.4				85.0				48.7				96.0				229.8				57.4				48.6				106.1				260.0
Europe			11.5				11.2				22.8				23.9				20.8				67.6				10.5				16.4				27.0				60.0
Asia			40.5				42.6				83.2				41.7				67.8				192.8				90.6				29.2				119.8				210.0
Other			14.6				17.1				31.8				31.5				47.7				111.1				32.4				24.4				56.8				100.0
Total Liquid Assets (billions of yen)			7,571.1				7,865.9				7,865.9				8,154.9				8,508.2				8,508.2				8,794.4				9,160.1				9,160.1	(Note 5)
Total Assets (billions of yen)			41,455.7				43,784.0				43,784.0				46,722.2				47,729.8				47,729.8				48,821.4				48,574.5				48,574.5
Toyota Motor Corporation Shareholders’ Equity (billions of yen)			14,714.0				15,469.5				15,469.5				16,316.0				16,788.1				16,788.1				17,205.0				17,039.6				17,039.6
Return on Equity (%)			16.1				14.3				15.1				15.1				10.8				13.9				15.2				14.2				14.8	(Note 2)
Return on Asset (%)			5.7				5.1				5.3				5.3				3.8				4.9				5.4				5.0				5.2	(Note 2)
Number of Consolidated Subsidiaries (including Variable Interest Entities)																							541
No. of Affil. Accounted for Under the Equity Method																							54

 

Analysis of Consolidated Net Income for FY2016(Note 2) (billions of yen, approximately)		2Q (2015/7-9)				First Half 6 months (2015/4-9)
Effects of Marketing Activities			-30.0				-60.0
Effects of Changes in Exchange Rates			160.0				305.0
Cost Reduction Efforts			80.0				140.0
From Engineering			70.0				120.0
From Manufacturing and Logistics			10.0				20.0
Increases in Expenses, etc.			-75.0				-170.0
Other			33.1				16.4
(Changes in Operating Income)			168.1				231.4
Non-operating Income			-75.6				-65.4
Equity in Earnings of Affiliated Companies			0.1				-4.2
Income Taxes, Net Income Attributable to Noncontrolling Interests			-20.0				-30.4
(Changes in Net Income)(Note 2)			72.6				131.2

 

Supplemental 3

Supplemental Material for Financial Results for FY2016 Second Quarter (Unconsolidated)

< Japan GAAP >

 

 

		FY2015																								FY2016												FY2016
		1Q (2014/4-6)				2Q (2014/7-9)				First Half 6 months (2014/4-9)				3Q (2014/10-12)				4Q (2015/1-3)				12 months (’14/4-’15/3)				1Q (2015/4-6)				2Q (2015/7-9)				First Half 6 months (2015/4-9)				Forecast 12 months (’15/4-’16/3)
Toyota & Lexus brand
Domestic Vehicle Production (thousands of units)			783				815				1,598				765				822				3,186				748				813				1,561				3,250
Overseas Vehicle Production (thousands of units)			1,443				1,445				2,888				1,473				1,402				5,762				1,432				1,440				2,872				5,750
Domestic Vehicle Retail Sales (thousands of units)			319				378				697				340				429				1,466				335				370				705				1,500
Exports Vehicle Sales (thousands of units)			428				471				899				460				425				1,784				418				449				867				1,800
North America			180				180				360				186				175				721				184				209				393				800
Europe			56				66				122				56				72				250				43				37				80				220
Asia			55				58				113				53				42				208				52				57				109				210
Central and South America			11				14				25				12				12				49				11				10				21				50
Oceania			32				41				73				40				33				146				34				37				71				140
Africa			16				19				35				17				13				65				18				16				34				60
Middle East			77				91				168				94				76				338				74				82				156				320
Other			1				2				3				2				2				7				2				1				3
Net Revenues (billions of yen)			2,603.2				2,784.5				5,387.7				2,910.9				2,910.7				11,209.4				2,772.1				2,932.9				5,705.0				11,400.0
Domestic			837.6				872.5				1,710.2				837.9				987.1				3,535.2				868.0				935.7				1,803.8
Exports			1,765.5				1,911.9				3,677.5				2,072.9				1,923.5				7,674.1				1,904.1				1,997.1				3,901.2
Operating Income (billions of yen)			297.0				289.4				586.4				355.6				328.5				1,270.6				382.9				443.4				826.3				1,440.0
(Operating Income Ratio) (%)			(11.4	)			(10.4	)			(10.9	)			(12.2	)			(11.3	)			(11.3	)			(13.8	)			(15.1	)			(14.5	)			(12.6	)
Ordinary Income (billions of yen)			577.9				541.0				1,118.9				649.4				356.6				2,125.1				671.5				740.6				1,412.1				2,350.0
(Ordinary Income Ratio) (%)			(22.2	)			(19.4	)			(20.8	)			(22.3	)			(12.3	)			(19.0	)			(24.2	)			(25.3	)			(24.8	)			(20.6	)
Net Income (billions of yen)			465.1				436.1				901.2				574.9				214.4				1,690.6				542.6				609.6				1,152.2				1,910.0
(Net Income Ratio) (%)			(17.9	)			(15.7	)			(16.7	)			(19.8	)			(7.4	)			(15.1	)			(19.6	)			(20.8	)			(20.2	)			(16.8	)
R&D Expenses (billions of yen)			213.6				213.6				427.2				224.0				234.9				886.2				230.2				227.8				458.0				930.0
Depreciation Expenses (billions of yen)			41.8				39.9				81.8				39.1				38.3				159.3				45.7				46.4				92.2				180.0
Capital Expenditures (billions of yen)			31.5				37.0				68.6				42.7				119.7				231.1				50.0				59.1				109.2				260.0

 

Analysis of Unconsolidated Net Income for FY2016 (billions of yen, approximately)				2Q (2015/7-9)				First Half 6 months (2015/4-9)
Effects of Marketing Activities					-60.0				-105.0
Effects of Changes in Exchange Rates					155.0				315.0
Cost Reduction Efforts					50.0				90.0
		From Engineering			50.0				85.0
		From Manufacturing and Logistics			0.0				5.0
Increases in Expenses, etc.					10.0				-60.0
Other					-1.0				-0.1
(Changes in Operating Income)					154.0				239.9
Non-operating Income					45.5				53.2
Income Taxes, etc.					-26.1				-42.2
(Changes in Net Income)					173.4				250.9

Cautionary Statement with Respect to Forward-Looking Statements

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. 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, 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 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.

 

(Note 1)

Shows the number of employees as of the end of each period (excluding loan employees from Toyota and its consolidated subsidiaries (“Toyota”) to outside Toyota and including loan employees from outside Toyota to Toyota)

(Note 2)

Shows “Net income attributable to Toyota Motor Corporation”

(Note 3)

2Q= Interim Dividend, 4Q= Year-end Dividend, FY= Annual Dividend

(Note 4)

Figures for depreciation expenses and capital expenditures do not include vehicles in operating lease

(Note 5)

Excludes financial subsidiaries

 

Supplemental 4

[Reference Translation]

November 5, 2015

To Whom It May Concern:

 

		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Akio Toyoda, President
		(Code Number: 7203
		Securities exchanges throughout Japan)
		Name and Title of Contact Person:
		Tetsuya Otake, Managing Officer
		(Telephone Number: 0565-28-2121)

Notice Concerning Distribution of Interim Dividends from Surplus

At a meeting held on November 5, 2015, the Board of Directors of Toyota Motor Corporation (“TMC”) resolved to distribute dividends from surplus, with record date dated September 30, 2015. In relation to the above, we hereby inform you of the following:

 

1.	Details of dividends

 

(1)	Common shares

 

		Interim dividend for FY 2016		Most recent dividend forecast		Interim dividend for FY 2015
Record date		September 30, 2015		September 30, 2015		September 30, 2014
Dividend per share		100.00 yen		Not reported		75.00 yen
Total amount of dividends		311,376 million yen		—		237,956 million yen
Effective date		November 27, 2015		—		November 27, 2014
Source of dividends		Retained earnings		—		Retained earnings

 

(2)	First Series Model AA Class Shares

 

		Interim dividend for FY 2016		Most recent dividend forecast		Interim dividend for FY 2015
Record date		September 30, 2015		September 30, 2015		—
Dividend per share		26.00 yen		(As informed on June 16, 2015)		—
Total amount of dividends		1,224 million yen		—		—
Effective date		November 27, 2015		—		—
Source of dividends		Retained earnings		—		—

 

2.	Reason for the dividend amount

TMC deems the benefit of its shareholders as one of its priority management policies and strives to continue to pay stable dividends while giving due consideration to factors such as business results for each term, investment plans and its cash reserves.

In order to successfully compete in this highly competitive industry, TMC will focus on the early commercialization of technologies for the next-generation environment and safety, giving priority to customer safety and sense of security.

Based on the foregoing, TMC’s interim dividend for the year for the common shares is 100 yen per share.

In addition, TMC’s interim dividend for the year for the First Series Model AA Class Shares will be distributed as informed on June 16, 2015.

---

[Reference]

Details of dividends through the fiscal year

 

(1)	Common shares

 

		Dividend per share (yen)
Record date		End of interim period		End of fiscal period		Total
Dividends for FY 2016 (ending March 31,2016)		100.00		—		—
Dividends for FY 2015 (ended March 31,2015)		75.00		125.00		200.00

 

(2)	First Series Model AA Class Shares

 

		Dividend per share (yen)
Record date		End of interim period		End of fiscal period		Total
Dividends for FY 2016 (ending March 31,2016)		26.00		—		—
Dividends for FY 2015 (ended March 31,2015)		—		—		—

[Reference Translation]

November 5, 2015

To Whom It May Concern:

 

		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Akio Toyoda, President
		(Code Number: 7203             Securities exchanges throughout Japan)
		Name and Title of Contact Person:
		Tetsuya Otake, Managing Officer
		(Telephone Number: 0565-28-2121)

Notice Concerning the Status and Completion of the Repurchase of Shares of our Common Stock

(Repurchase of Shares under our Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)

We hereby inform you of the repurchase of shares (Repurchase of shares in order to avoid dilution of common shares of TMC as a result of the issuance of the First Series Model AA Class Shares) conducted in October pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act, concerning which repurchase notification was given on April 28, 2015, June 16, 2015 and August 4, 2015, as follows:

We also inform you that the portion of the repurchase of shares pursuant to the resolution at meetings of the board of directors held on April 28, 2015 and June 16, 2015, including details decided thereafter, has been completed.

 

1. Class of shares repurchased:		Common stock of Toyota Motor Corporation (“TMC”)
2. Total number of shares repurchased :		13,455,800 shares
3. Total purchase price:		99,083,064,500 JPY
4. Method of acquisition:		Discretionary trading by a securities company
5. Period of repurchase:		From October 1, 2015 to October 29, 2015

(Reference)

 

I.	Repurchase of shares resolved at meetings of the board of directors held on April 28, 2015 and June 16, 2015, including details decided thereafter (Repurchase of shares in order to avoid dilution of common shares of TMC as a result of the issuance of the First Series Model AA Class Shares)

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1.

Method of repurchase

Discretionary trading by a securities company

 

2.

Details of matters relating to repurchase

 

 

II.	Total number of shares of our common stock repurchased pursuant to the above resolutions of the board of directors (as of November 5, 2015)

 

We would also like to inform you that another repurchase of shares was resolved at a meeting of the board of directors held on May 8, 2015 in order to return capital to shareholders and to promote capital efficiency and agile capital policy in view of the business environment, as follows (including details decided thereafter):

 

1.

Method of repurchase

Purchase in the market through a trust bank

 

2.

Details of matters relating to repurchase

 

[Reference Translation]

November 5, 2015

To Whom It May Concern:

 

		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Akio Toyoda, President
		(Code Number: 7203
		Securities exchanges throughout Japan)
		Name and Title of Contact Person:
		Tetsuya Otake, Managing Officer
		(Telephone Number: 0565-28-2121)

Notice Concerning Change of Part of Matters Relating to

the Repurchase of Shares of Common Stock

(Repurchase of Shares under Articles of Incorporation pursuant to Article 165,

Paragraph 2 of the Companies Act of Japan)

We hereby inform you that, in relation to the repurchase of shares of our common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act (repurchase of shares in order to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment), which was informed on May 8, 2015 and August 4, 2015, Toyota Motor Corporation (“TMC”) has determined that it will change in part the specific method of repurchase and the details of matters relating to repurchase.

 

1.	Reason for change

The previous repurchase of shares that was scheduled to be conducted from August 10, 2015 to November 30, 2015 in order to avoid dilution of common shares of TMC as a result of the issuance of the First Series Model AA Class Shares was completed ahead of schedule; accordingly, it has become possible to commence the repurchase of shares that is contemplated herein earlier.

 

2.	Details of change

 

(References)

Repurchase of shares informed on August 4, 2015

 

II.	Repurchase of shares resolved at a meeting of the board of directors held on May 8, 2015 (Repurchase of shares in order to return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment)

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1.	Method of repurchase

Purchase in the market through a trust bank

 

2.	Details of matters relating to repurchase

 

[Reference Translation]

November 5, 2015

To Whom It May Concern:

 

		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Akio Toyoda, President
		(Code Number: 7203
		Securities exchanges throughout Japan)
		Name and Title of Contact Person:
		Tetsuya Otake, Managing Officer
		(Telephone Number: 0565-28-2121)

Notice Concerning the Determination of Matters Relating to the Repurchase of Shares of Common Stock

(Repurchase of Shares under Articles of Incorporation pursuant to Article 165, Paragraph 2 of the Companies Act of Japan)

We hereby inform you that Toyota Motor Corporation (“TMC”) resolved at a meeting of the board of directors held on November 5, 2015 to repurchase shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”) as applied pursuant to Article 165, Paragraph 3 of the Companies Act.

 

1.	Reason for repurchasing shares

To return capital to shareholders in addition to promoting capital efficiency and agile capital policy in view of the business environment

 

2.	Details of matters relating to repurchase

 

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(References) Number of treasury stock as of September 30, 2015

 

[Reference Translation]

November 5, 2015

To Whom It May Concern:

 

		Company Name: TOYOTA MOTOR CORPORATION
		Name and Title of Representative:
		Akio Toyoda, President
		(Code Number: 7203
		Securities exchanges throughout Japan)
		Name and Title of Contact Person:
		Tetsuya Otake, Managing Officer
		(Telephone Number: 0565-28-2121)

Notice Concerning the Cancellation of Shares of Common Stock

(Cancellation of Shares pursuant to Article 178 of the Companies Act of Japan)

We hereby inform you that Toyota Motor Corporation (“TMC”) resolved at a meeting of the board of directors held on November 5, 2015 to cancel shares of its common stock pursuant to Article 178 of the Companies Act of Japan, as follows.

 

1.	Class of shares to be cancelled

Common shares of TMC

 

2.	Number of shares to be cancelled

80 million shares

(percentage of the total number of issued and outstanding shares before the cancellation: 2.30%)

* The total number of issued shares includes class shares other than common shares. The same shall apply hereinafter.

 

3.	Scheduled date of cancellation

November 30, 2015

(References)

The total number of issued and outstanding shares after the cancellation will be 3,385,097,492 shares.