FINANCIAL SUMMARYFY2018

Third Quarter(April 1, 2017 through December 31, 2017)

English translation from the original Japanese-language document

Cautionary Statement with Respect to Forward-Looking Statements

This report contains projections and other forward-looking statements that involve risks and uncertainties. Our use of the words“expect,” “anticipate,” “estimate,” “forecast,” “plan” and similar expressions is intended to identify such forward-looking
statements. Projections and forward-looking statements are based on the current expectations and estimates of Toyota
Industries Corporation and its Group companies regarding their plans, outlook, strategies and results for the future. All suchprojections and forward-looking statements are based on management’s assumptions and beliefs derived from the information
available to it at the time of producing this report and are not guarantees of future performance. Toyota Industries corporationand its Group companies undertake no obligation to publicly update or revise any forward-looking statements, whether as aresult of new information, future events or otherwise. Therefore, it is advised that you should not rely solely upon theseprojections and forward-looking statements in making your investment decisions. You should also be aware that certain risks
and uncertainties could cause the actual results of Toyota Industries Corporation and its Group companies to differ materiallyfrom any projections or forward-looking statements discussed in this report. These risks and uncertainties include, but are notlimited to, the following: 1) reliance on a small number of customers, 2) product development capabilities, 3) intellectual property
rights, 4) product defects, 5) price competition, 6) reliance on suppliers of raw materials and components, 7) environmental
regulations, 8) success or failure of strategic alliances with other companies, 9) exchange rate fluctuations, 10) share pricefluctuations, 11) effects of disasters, power blackouts and other incidents, 12) latent risks associated with international activities
and 13) retirement benefit liabilities.

February 2, 2018

FY2018 Third Quarter Consolidated Financial Results<IFRS>(April 1, 2017 - December 31, 2017)
TOYOTA INDUSTRIES CORPORATION
Stock exchange listings: Tokyo and Nagoya (Code number: 6201) (URL: https://www.toyota-industries.com/ )Representative person: Akira Onishi, President, Member of the Board
Contact person: Kuniaki Matsumoto, General Manager of Accounting Department(Tel. +81-(0)566-22-2511)

The expected date of submission of the quarterly report: February 13, 2018
The expected date of dividends payment: －Additional documents to supplement quarterly financial results: Yes
Quarterly IR presentation: Yes (For analysts and professional investors)(Amounts less than one million yen are omitted)
1. Financial Highlights for FY2018 Third Quarter (April 1, 2017 - December 31, 2017)(1) Consolidated Financial Results(% : changes from the same period of the previous fiscal year)
Net sales

Profit before
income taxes

Operating profit

Million yen%

Million yen%

ProfitMillion yen%

Million yen%

FY 2018
Third
Quarter

1,464,686

19.1

115,02219.0

178,54315.9

150,405

26.2

FY 2017
Third
Quarter

1,229,677－

96,622－

153,983－

119,168－

Profit attributable toowners of the parent
Million yen

Comprehensive
income%Earnings
per share―basic

Million yen%

Earnings
per share―diluted
Yen

Yen

FY 2018
Third
Quarter

146,16628.2

514,97460.3

470.76－

FY 2017
Third
Quarter

113,984－

321,230－

364.34－Equity attributable toowners of the parent

Percentage of equity
attributable to ownersof the parent(2) Consolidated Financial Position

Total assets
Million yen

FY 2018
Third
Quarter
FY 2017

Total equity
Million yen

Million yen%

5,392,167

2,787,369

2,706,667

50.2

4,558,212

2,316,467

2,240,293

49.1

2. Cash Dividends

Annual cash dividends per share
1st
Quarter

2nd
QuarterYen

FY2017FY2018－－

3rd
Quarter

4th
Quarter

Yen

Yen

－
－

60.00
70.00

FY 2018(Forecast)

FY Total
Yen

Yen

65.00

125.0070.00

140.00(Note) Changes in the forecasted cash dividends in this quarter : No
3. Forecasts of Consolidated Financial Results for FY2018 (April 1, 2017 - March 31, 2018)(% : changes from the same period of the previous fiscal year)
Net sales
Million yen

FY20181,950,000

Profit before
income taxes

Operating profit%

16.4

Million yen

145,000%

13.9

Million yen

204,000

Profit attributable toowners of the parent%

12.1

Million yen

157,000

Earnings
per share―basic

%

19.5

Yen

505.66(Note) Changes in the forecasts of consolidated financial results in this quarter : Yes
4. Others(1) Changes in major subsidiaries (specified subsidiaries that changed the scope of consolidation) : No
(2) Changes in accounting policies and accounting estimates(i) Changes in accounting principles required by IFRS : No(ii) Changes other than (i) : No(iii) Changes in accounting estimates : No
(3) Issued and outstanding capital stock(i) Number of shares outstanding at end of each period (including treasury stock):
FY2018 Third Quarter －325,840,640 shares, FY2017 －325,840,640 shares(ii) Number of treasury stock outstanding at end of each period:
FY2018 Third Quarter －15,352,814 shares, FY2017 －15,351,442 shares(iii) Average number of shares outstanding for each period (accumulated):
FY2018 Third Quarter －310,488,477 shares, FY2017 Third Quarter －312,856,523 shares* This financial report is not subject to the quarterly review procedure.
* Explanation regarding the proper use of performance forecasts and other special items
・All projections are based on the information available to management at the time of making
this report and are not guarantees of future performance. Uncertainties could cause
the actual results of Toyota Industries to differ materially from any projections discussed in this report.
・Our projections are based on assumed exchange rates of 111 yen to the U.S. dollar and 128 yen to the euro for FY2018.
・Please see page 3 on attached documents for details on performance forecasts in "Explanation for Forecast for FY 2018".

(Attached documents)

Contents

1. Explanation for Quarterly Financial Results ..........................................................................................
(1) Explanation for Business Results ..............................................................................................................
(2) Explanation for Financial Condition ..........................................................................................................
(3) Explanation for Forecast for FY2018 .........................................................................................................

2
2
3
3

2. Condensed Quarterly Consolidated Financial Statements ......................................................................

4
4(1) Condensed Quarterly Consolidated Financial Position ...............................................................................................
(2) Condensed Quarterly Consolidated Statements of Profit or Loss andCondensed Quarterly Consolidated Statements of Comprehensive Income ......................................................

68(4) Note on Condensed Quarterly Consolidated Financial Statements .................................................................. 10(Note on Premise of Going Concern) ...................................................................................................... 10(Note on Significant Changes in the Amount of Shareholders' Equity) .......................................................... 10(Segment Information) .......................................................................................................................... 11(3) Condensed Quarterly Consolidated Statements of Changes in Equity .............................................................

―1―

1. Explanation for Quarterly Financial Results(1) Explanation for Business Results
During the third quarter of fiscal 2018 (the nine months from April 1 to December 31, 2017), total consolidated net sales ofToyota Industries amounted to 1,464.6 billion yen, an increase of 235.0 billion yen, or 19%, from the same period of the previous
fiscal year. The following is a review of operations for the major business segments.
Net sales of the Automobile Segment totaled 438.6 billion yen, an increase of 24.2 billion yen, or 6%, from the same period of theprevious fiscal year.
Within this segment, net sales of the Vehicle Business amounted to 54.2 billion yen, an increase of 1.6 billion yen, or 3%, due
mainly to increases in sales of the Vitz (Yaris outside Japan) and RAV4.
Net sales of the Engine Business totaled 71.8 billion yen, an increase of 4.8 billion yen, or 7%, as a result of increases in sales of
GD diesel engines.
Net sales of the Car Air-Conditioning Compressor Business totaled 259.3 billion yen, an increase of 11.2 billion yen, or 4%,
attributable mainly to an increase in unit sales in Japan and China.
Net sales of the Electronics Parts, Foundry and Others Business totaled 53.1 billion yen, an increase of 6.5 billion yen, or 14%,due primarily to increases in sales of electronics parts and foundry products.
Net sales of the Materials Handling Equipment Segment totaled 932.5 billion yen, an increase of 210.5 billion yen, or 29%, fromthe same period of the previous fiscal year. The factors behind this increase included a rise in unit sales of lift trucks, a mainstay
product of this segment, in North America, Japan and other regions as well as making Bastian Solutions LLC and Vanderlande
Industries Holding B.V. into consolidated subsidiaries in April 2017 and May 2017, respectively.
Net sales of the Textile Machinery Segment decreased 1.0 billion yen, or 2% to 48.7 billion yen as a result of a decrease inspinning machinery and weaving machinery offsetting an increase in sales of instruments for textile quality measurement.
Net sales of the Others Segment totaled 44.7 billion yen, an increase of 1.3 billion yen, or 3%, from the same period of theprevious fiscal year.
In terms of overall profit, despite increase in raw material costs, increase in labor costs and increase in depreciation, Toyota
Industries recorded an increase in profit due mainly to sales efforts, the impact of exchange rate fluctuations, increases in promoting
cost reduction efforts throughout the Toyota Industries Group and changes in retirement benefit plan. As a result, Toyota Industries
posted consolidated operating profit of 115.0 billion yen, an increase of 18.4 billion yen, or 19%, from the same period of theprevious fiscal year and profit before income taxes of 178.5 billion yen, an increase of 24.6 billion yen, or 16%, from the same
period of the previous fiscal year. Profit attributable to owners of the parent totaled 146.1 billion yen, an increase of 32.2 billion yen,or 28%, from the same period of the previous fiscal year.

―2―(2) Explanation for Financial Condition
Assets increased 833.9 billion yen from the end of the previous fiscal year to 5,392.1 billion yen due mainly to an increase in fairvalue of investment securities. Liabilities amounted to 2,604.7 billion yen, an increase of 363.0 billion yen from the end of theprevious fiscal year due mainly to an increase in deferred tax liabilities. Equity amounted to 2,787.3 billion yen, an increase of
470.9 billion yen from the end of the previous fiscal year.

(3) Explanation for Forecast for FY2018
Toyota Industries forecasts consolidated net sales of 1,950.0 billion yen, operating profit of 145.0 billion yen and profit before
income taxes of 204.0 billion yen. Due to the US tax reform, Toyota Industries has revised its forecasts of consolidated financial
results for FY2018 to profit attributable to owners of the parent of 157.0 billion yen. Our projections are based on assumed
exchange rates of 111 yen to the U.S dollar and 128 yen to the euro for FY2018.

―3―

2. Condensed Quarterly Consolidated Financial Statements(1) Condensed Quarterly Consolidated Financial Position(Millions of yen)
FY2017(As of March 31, 2017)
AssetsCurrent assets
Cash and cash equivalents
Time deposits with deposit terms ofover three months
Trade receivables and other receivables
Other financial assets
Inventories
Income tax receivables
Other current assets
Total current assets
Non-current assets
Property, plant and equipment
Goodwill and intangible assets
Trade receivables and other receivables
Investments accounted for by the equity method
Other financial assets
Net defined benefit assets
Deferred tax assets
Other non-current assets
Total non-current assets
Total assets―4―

FY2018 Third Quarter(As of December 31, 2017)

243,685239,658

162,668

108,468

646,542
11,632
194,427
21,10642,356
1,322,420

741,555
7,139
227,089
9,531
53,155
1,386,597

833,329
185,813149
8,673
2,161,509
18,12923,8004,386
3,235,791
4,558,212

893,585
385,824301
9,787
2,654,891
27,50728,256
5,415
4,005,569
5,392,167

(Millions of yen)
FY2017(As of March 31, 2017)
Liabilities and Equity
Liabilities
Current liabilities
Trade payables and other payables
Corporate bonds and loans
Other financial liabilities
Accrued income taxes
Provisions
Other current liabilities
Total current liabilities
Non-current liabilities
Corporate bonds and loans
Other financial liabilities
Net defined benefit liabilities
Provisions
Deferred tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities
EquityShare of equity attributable to owners of the parent
Capital stock
Capital surplus
Retained earnings
Treasury stock
Other components of shareholders' equity
Total share of equity attributable to owners of the parent
Non-controlling interests
Total equity
Total liabilities and equity―5―

FY2018 Third Quarter(As of December 31, 2017)395,698
311,663
71,807
11,163
7,397
12,872810,603434,400
362,396
76,99018,183
7,466
23,189922,626

665,890
79,37592,5526,479
567,803
19,0391,431,140
2,241,744

740,023
74,146
93,518
9,382
744,175
20,924
1,682,170
2,604,797

80,462
105,417954,503(59,272)
1,159,181

80,462
105,461
1,056,669(59,280)
1,523,354

2,240,293

2,706,667

76,174
2,316,467
4,558,212

80,702
2,787,369
5,392,167

(2) Condensed Quarterly Consolidated Statements of Profit or Loss and Condensed Quarterly
Consolidated Statements of Comprehensive Income
Condensed Quarterly Consolidated Statement of Profit or Loss
(Millions of yen)
FY2017 Third Quarter(April 1, 2016
– December 31, 2016)
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Other profit
Other expenses
Operating profit
Financial income
Financial expenses
Share of profit (loss) of investments accounted for by theequity method
Profit before income taxes
Income taxes
ProfitProfit attributable to:
Owners of the parent
Non-controlling interests

Earnings per share
Earnings per share— basic (yen)Earnings per share— diluted (yen)―6―

FY2018 Third Quarter(April 1, 2017
– December 31, 2017)

1,229,677(935,634)
294,042(197,213)
7,703(7,909)96,62264,455(7,809)1,464,686(1,119,470)
345,216(243,215)
20,089(7,068)115,02270,421(7,832)714

931

153,983(34,814)
119,168

178,543(28,138)
150,405

113,984
5,184

146,1664,238

364.34－470.76－

Condensed Quarterly Consolidated Statement of Comprehensive Income(Millions of yen)
FY2017 Third Quarter(April 1, 2016
– December 31, 2016)
ProfitOther comprehensive income:Items not to be reclassified into profit or loss
Net changes in revaluation of FVTOCI financial assets
Remeasurements of defined benefit plans
Other comprehensive income of affiliates accounted forby the equity method
Total items not to be reclassified into profit or loss
Items that can be reclassified into profit or loss
Foreign currency translation adjustment
Cash flow hedges
Other comprehensive income of affiliates accounted forby the equity method
Total items that can be reclassified into profit or loss
Total other comprehensive income
Comprehensive income
Total comprehensive income attributable to:
Owners of the parent
Non-controlling interests―7―

FY2018 Third Quarter(April 1, 2017
– December 31, 2017)

119,168

150,405

204,601
1,196

331,463(1,913)33

1205,831329,551(4,157)
153

34,545
285

234

186

(3,769)202,061
321,230

35,017364,568
514,974

315,7635,466

508,254
6,719

(3) Condensed Quarterly Consolidated Statements of Changes in Equity(Millions of yen)
Share of equity attributable to owners of the parent
Other components ofshareholders' equity
Capitalstock

Balance at April 1, 2016

CapitalsurplusRetainedearnings

Treasurystock

Net changes in
Remeasurements
revaluation ofof defined benefit
FVTOCI financial
plans
assets－80,462

105,517855,317(41,266)

1,132,655

Profit

－－113,984－－－

Other comprehensive income

－

－

－

－

204,308

1,126

－

－

113,984－

204,308

1,126

Repurchase of treasury stock

－

(36)

－

(18,006)－－

Disposal of treasury stock

－

(0)

－

5

－

－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings－－(37,609)

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

1,711

－

(584)

(1,126)

Other increases (decreases)

－

－

－

－

－

－

Total transactions with owners

－

(37)

(35,898)(18,000)(584)(1,126)

Balance at December 31, 2016

80,462

105,479

933,404(59,267)

1,336,379－

Balance at April 1, 2017－

Total comprehensive income

80,462

105,417954,503(59,272)

1,209,592

Profit－－146,166－－－

Other comprehensive income

－

－

－

－

331,022(1,971)－－

146,166－

331,022(1,971)

Repurchase of treasury stock

－

－

－

(8)

－

－

Disposal of treasury stock

－

－

－

－

－

－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings－－(41,915)

－

－

－

－

43

－

－

－

－

－

－

－

－

－

－

－

－

(2,084)

－

112

1,971

Other increases (decreases)

－

－

－

－

－

－

Total transactions with owners－

43(44,000)

(8)

112

1,971

80,462

105,461

1,056,669(59,280)

1,540,727－

Total comprehensive income

Balance at December 31, 2017―8―

(Millions of yen)
Share of equity attributable to owners of the parent
Other components of shareholders' equity

Noncontrollinginterests

Total equity

2,098,658

70,6552,169,313

113,984

5,184

119,168

201,778

201,778282

202,061－

201,778

315,7635,466

321,230－－－(18,043)－(18,043)

－

－

－

5

－

5

－

－

－

－

(37,609)(2,196)(39,805)

－

－

－

－

－

－

－

－

－

－

－

－

(94)

(94)

－

－

－

(1,711)

－

－

－

－

－

(6)

(6)

(6)

2,446

2,440

Foreigncurrencytranslation
adjustment

Cash flow
hedges(32,799)(1,235)

6

1,098,627

－

－

－

－

(3,809)153－(3,809)153

Repurchase of treasury stock－

Disposal of treasury stock－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings
Other increases (decreases)

Balance at April 1, 2016
ProfitOther comprehensive income
Total comprehensive income

Subscription
rights toshares

Total

Total

－

－

(6)

(1,717)(55,654)155(55,498)

Balance at December 31, 2016

(36,609)(1,082)－

1,298,688

2,358,768

76,2782,435,046

Balance at April 1, 2017

(50,417)

6－

1,159,181

2,240,293

76,174

2,316,467

－

－

－

－

146,166

4,238

150,405

32,752285－

362,088362,0882,480

364,568

32,752285－

362,088508,2546,719

514,974

Repurchase of treasury stock

－

－

－

－

(8)

－

(8)

Disposal of treasury stock

－

－

－

－

－

－

－

Dividends
Changes in ownership interest of
subsidiaries
Changes in non-controlling interests as aresult of change in scope of consolidation
Reclassified into retained earnings

－

－

－

－

(41,915)(2,374)(44,290)

－

－

－

－

43

－

43

－

－

－

－

－

182

182

－

－

－

2,084

－

－

－

Other increases (decreases)

－

－

－

－

－

0

0

Total transactions with owners

－

－

－

2,084

(41,880)(2,191)(44,071)(17,665)292－

1,523,354

2,706,667

80,702

2,787,369

Total transactions with owners

ProfitOther comprehensive income
Total comprehensive income

Balance at December 31, 2017―9―

(4) Note on Condensed Quarterly Consolidated Financial Statements(Note on Premise of Going Concern) : No
(Note on Significant Changes in the Amount of Shareholders' Equity)
During the Third quarter of fiscal 2018 (the nine months from April 1 to December 31, 2017), Toyota Industries paid
dividends of 41,915 million yen from retained earnings.

― 10 ―

(Segment Information）
FY2017 Third Quarter (April 1, 2016– December 31, 2016)(Millions of yen)

Sales
Outside customer
sales
Inter-segment
transactions
Total
Segment profit

Automobile

Materials
Handling
Equipment

TextileMachinery

Others(Note 1)

414,433

722,096

49,73543,411

1,229,677－

1,229,677

17,969906

159

16,36135,396(35,396)－

432,403

723,00249,89559,773

1,265,073(35,396)

1,229,677

20,01265,500

5,722

5,395

96,632(9)96,622

Total

Elimination Consolidated(Note 2)
(Note 3)Financial income

64,455

Financial expenses(7,809)

Share of profit (loss) ofinvestments accounted
for by the equity
methodProfit before income
taxes(Notes)

1.
2.
3.

714

153,983"Others" represents businesses not included in the above reporting segments.
Breakdown of elimination(9) million yen included in "Elimination" for "Segment profit" is inter-segment transactions.
"Segment profit" reconciles to operating profit disclosed in the consolidated statements of profit or loss.

FY2018 Third Quarter (April 1, 2017– December 31, 2017)(Millions of yen)

Sales
Outside customer
sales
Inter-segment
transactions
Total
Segment profit
Financial income
Financial expenses
Share of profit (loss) ofinvestments accounted
for by the equity
methodProfit before income
taxes(Notes)1.
2.
3.

Automobile

Materials
Handling
Equipment

TextileMachinery

Others(Note 1)

438,608

932,592

48,76444,721

1,464,686－

1,464,686

18,982

1,106

161

17,74937,998(37,998)－

457,590
27,373

933,698
77,29648,925
5,379

62,4704,986

1,502,685
115,035(37,998)(13)

1,464,686
115,02270,421(7,832)

Total

Elimination Consolidated(Note 2)
(Note 3)

931

178,543"Others" represents businesses not included in the above reporting segments.
Breakdown of elimination(13) million yen included in "Elimination" for "Segment profit" is inter-segment transactions.
"Segment profit" reconciles to operating profit disclosed in the consolidated statements of profit or loss.

― 11 ―