FY2023

Financial Results
Ｆ

April 28, 2023

Ⅰ. Financial Results
Ⅱ. Certification of Engines for Forklifts
Ｆ

Ⅲ. Mid and Long-term Direction
Ⅳ. Business Initiatives

1/48

Ⅰ. Financial
Results
Ｆ

2/48

Points of Financial Results for FY2023■ Net sales and profits in FY2023 increased from FY2022 due
to unit sales increases in automobile and materials equipment
businesses, along with exchange rate fluctuations effects■ Dividends for FY2023 is ¥190, ¥20
Ｆ increase from FY2022
Dividends plan for FY2024 is ¥200, ¥10 increase from FY2023■ Increases in net sales and profits are expected for
the FY2024 forecast

3/48

FY2023 Performance(Billions of yen)

FY2022

FY2023

ChangeamountChange%2,705.1

3,379.8+ 674.7+ 24.9%Operating profit

159.0

169.9

+ 10.9+ 6.8%

Profit before income taxes

246.1

262.9

+ 16.8+ 6.8%

Profit attributable toowners of the parent

180.3

192.8

+ 12.5+ 7.0%

Dividends per share[Year end]

Ｆ
¥170
[¥90]

¥190
[¥100]+ 20[+ ¥10]-

Payout ratio

29.3%

30.6%

+ 1.3%-<Precondition>
US $

¥112

¥135

+ ¥23

-

¥131

¥141

+ ¥10

-

Net salesEuro

Net sales and profits increased due to unit sales increases in Engine, Car air-conditioning
compressor and Forklift trucks, etc. despite production inefficiency because of supply chain
disruptions, and cost increases because of inflation
4/48

Precondition related to certification of engines for forklifts
in Japan■ FY2023 Performance
Cost related to this issue: provisions of 20.7 billion yen
Sales units: - approx. 0.7 thousand units
Suspension of shipment of forklift trucks installed the subject diesel
and gasoline engines from March 17 to March 31, 2023

■ FY2024 Forecast
Sales units: - approx. 16 thousand units(Equivalent to approx. 5% of global sales units)
Suspension of shipment of forklift trucks installed the subject diesel
and gasoline engines from April, 2023 to March, 2024>> These sales units decreasing will be covered by electric trucks(The actual term of suspension will be determined in accordance with resultsof investigations and by decisions of the authorities)

5/48

FY2023 Segment Information - Automobile(Sales units : Thousands of units, Net sales / Operating profit : Billions of yen)

FY2022

Change
%

308

290

(18)

(6.0%)Net sales (bn)

83.4

83.1

(0.3)

(0.4%)

Sales units (th)

804

847

+ 43

+ 5.3%Net sales (bn)

267.6

322.4

+ 54.8+ 20.5%

Sales units (th)28,75330,937+ 2,184+ 7.6%Net sales (bn)

356.1

429.7

+ 73.6+ 20.6%

Net sales (bn)

85.5

122.5

+ 37.0+ 43.3%

Net sales (bn)

792.8

957.8

+ 165.0+ 20.8%

33.0

34.6

+ 1.6

+ 4.9%EngineElectronics partsand others

ChangeAmountSales units (th)VehicleCar air-conditioning
compressor

FY2023

Automobile
Operating Profit (bn)Ｆ

Vehicle : Net sales decreased due to unit sales decrease of RAV4 overseas.
Engine : Net sales increased mainly due to unit sales increase of gasoline engines
Car Air-Conditioning Compressor : Net sales increased mainly due to unit sales increasein North America and Europe, etc.

6/48

FY2023 Segment Information- Material handling equipment and others(Sales units: Thousands of units, Net sales / Operating profit: Billions of yen)

FY2022
Material handlingequipment

FY2023

ChangeAmountChange%Sales units (th)

282

317

+ 35

+ 12.1%

Net sales (bn)1,789.4

2,283.8+ 494.4+ 27.6%

113.6

121.8

+ 8.2

+ 7.3%

69.2

84.3+ 15.1+ 21.8%

Ｆ 5.5

7.8

+ 2.3

+ 40.7%

53.7

53.9

+ 0.2

+ 0.4%

7.1

5.4

(1.7)

(24.2%)

2,705.1

3,379.8+ 674.7+ 24.9%

159.0

169.9

+ 10.9+ 6.8%

Operating Profit (bn)Net sales (bn)Textile machineryOperating Profit (bn)Net sales (bn)OthersOperating Profit (bn)Net sales (bn)

Total
Operating Profit (bn)Materials Handling Equipment : Net sales and profit increased due to increase of both forklift trucks andlogistics solution businessTextile machinery : Net sales and profit increased due to increase of spinning machinery and quality
measurement instruments for fiber

7/48

Changes in Operating Profit from FY2022 to FY2023(Billions of yen)

Operating profit + ¥10.9 billion [¥159.0 to ¥169.9 billion](Excluding engine certification related costs)

Costreduction

Main breakdown

Energy costs (11.5)
Depreciation (5.8)

Raw material& Parts costs

190.6

Exchange
rate
Labor
costs

Main breakdown

Logistics
costs

US $
Euro

+ 36.6+ 5.6

ExpensesSales& others
Engine certification related costs

FY2022

Decreases (135.1)

Increases + 146.0

FY2023

YoY profit increased due mainly to increase in sales despite of increase in raw material,
parts, labor costs and logistics costs as well as others including engine certification related costs
8/48

FY2023 Investments in tangible assets and Depreciation(Billions of yen)

FY2022

FY2023

ChangeAmountChange%Investments intangible assets*

134.8

144.4

+ 9.6

+ 7.1%

Depreciation*

94.1

99.9

+ 5.8

+ 6.1%* Investments in tangible assets and depreciation apply to property, plant and equipment.
They do not include materials handling equipment leased under operating leases.

Ｆ

Investments in tangible assets increased overall due to increase in
Car air-conditioning compressor, Electronics parts and others including
Battery and Materials Handling Equipment business segment

9/48

FY2023 Assets, Equity and others
FY2022(Billions of yen)

ChangeAmountFY2023

Change%Total assets

7,627.1

7,821.1+ 194.0+ 2.5%

Total equity

4,021.9

3,935.4(86.5)(2.2%)

Equity attributable toowners of the parent
per share¥12,653.04¥12,359.66(¥293.38)-

Percentage of equity
attributable to ownersof the parent

51.5%

49.1%

-

-

258

271

+ 13

-

Consolidated
subsidiaries

Ｆ

Total assets increased mainly due to increase in trade receivables andother receivables
10/48

FY2024 Forecast Performance
FY2023(Billions of yen)

FY2024
Forecast

ChangeamountChange%3,379.8

3,500.0+ 120.2+ 3.6%

Operating profit

169.9

180.0

+ 10.1+ 5.9%

Profit before income taxes

262.9

265.0

+ 2.1

+ 0.8%

Profit attributable toowners of the parent

192.8

195.0

+ 2.2

+ 1.1%

Dividends per share¥190[¥100]¥200[¥100]+ ¥10[± ¥0]-

Payout ratio

30.6%

31.8%

+ 1.2%-<Precondition>
US $

¥135

¥130

(¥5)

-

¥141

¥135

(¥6)

-

Net sales

Euro

Ｆ

11/48

FY2024 Forecast Segment Information - Automobile(Sales units : Thousands of units, Net sales : Billions of yen)

FY2023

Automobile

Change
%

290

310

+ 20

+ 7.0%Net sales (bn)

83.1

87.0

+ 3.9

+ 4.7%

Sales units (th)

847

905

+ 58

+ 6.9%Net sales (bn)

322.4

334.0

+ 11.6+ 3.6%

Sales units (th)Ｆ30,937

32,000+ 1,063+ 3.4%Net sales (bn)

429.7

435.0

+ 5.3

+ 1.2%Net sales (bn)

122.5

190.0

+67.5

+ 55.0%Net sales (bn)957.8

1,046.0+88.2+ 9.2%EngineElectronics partsand others

ChangeAmountSales units (th)VehicleCar air-conditioning
compressor

FY2024
Forecast

12/48

FY2024 Forecast Segment Information- Materials handling equipment and others(Sales units: Thousands of units, Net sales / Operating profit: Billions of yen)

FY2023

FY2024
Forecast

ChangeAmountChange%Materials handlingequipment

Sales units (th)

317

329

+ 12

+ 3.9%Net sales (bn)2,283.8

2,330.0+ 46.2+ 2.0%

Textile machinery

Net sales (bn)

84.3

70.0

(14.3)(17.0%)

Others

Net sales (bn)

53.9

54.0

+ 0.1

+ 0.1%

3,379.8

3,500.0+ 120.2+ 3.6%

169.9

180.0

+ 10.1+ 5.9%Ｆ

Net sales (bn)

Total
Operating Profit (bn)13/48

Changes in Operating Profit from FY2023 to FY2024 Forecast(Billions of yen)
Operating profit + ¥10.1billion [¥169.9 to ¥180.0 billion]

190.6(Excluding engine certification related costs)

Labor
costs

Logistics
costs
Exchange
rate Raw material& Parts costs

Main breakdown

US $
Euro

(8.5)
(3.0)

Expenses& others

Cost
reduction

Sales

Engine certification
related costs

Main breakdown

Energy costs
Depreciation

FY2023

Decreases (81.6)

(6.5)
(5.0)
Increased + 91.7

FY2024
Forecast
14/48

FY2024 Forecast Investments in tangible assets and Depreciation(Billions of yen)

FY2024
Forecast

FY2023

ChangeAmountChange%Investments intangible assets

144.4

170.0

+ 25.6+ 17.7%

Depreciation

99.9

105.0

+ 5.1

+ 5.1%Ｆ

15/48

Ⅱ. Certification of Engines for Forklifts
Ｆ

16/48

Certification of Engines for Forklifts【Main Background】
Second half of 2020 When making a yearly application for certification for 2021 for forklift
gasoline engines for the North American market, TICO handled data confirmation andinformation requests from the U.S. environmental authorities.

May 2021 During the process of handling U.S. environmental authority matters,
TICO became concerned about data used for past applications in the U.S., and began tovoluntarily verify data used for past applications for forklift gasoline engines for the North
American market and commenced an investigation led by external lawyers.

January 2022 TICO voluntarily expanded the scope of the investigation led by externallawyers to include the Japanese certificationＦfor gasoline engines.
April 2022 TICO voluntarily began the verification and investigation concerning diesel
engines as well (including conducting a deterioration durability testing*).

March 2023 TICO has confirmed the issues with regard to Japanese certifications foremissions and has decided to suspend shipping in Japan of forklift trucks equippedwith the subject engines (forklifts subject to shipment suspension: around 1.4
thousand trucks manufactured per month).
*deterioration durability testing: a test to confirm engine emissions performance after running the engine for a certain number of hours

We sincerely apologize for a great deal of inconvenience
to our customers and other stakeholders .
17/48

Certification of Engines for Forklifts【Forklifts subject to shipment suspension】■ Diesel engine forklift

Engine model
1ZS/1KD(2014 application)

Sales volume of forklifts equipped with the subject engines

FY22 9.4 thousand units

Total (accumulated)
at the end of February 2023
: 71.3 thousand units

Excess over the Japanese emissions regulation values due to aging degradation, and potential violation of the procedureand method of deterioration durability testing specified by the regulations■ Gasoline engine forklift

Engine model
4Y (2009 application)

Ｆ

Sales volume of forklifts equipped with the subject engines

FY22 7.1 thousand units

Total (accumulated)
at the end of February 2023
: 88.3 thousand units

Potential violation of the procedure and method of deterioration durability testing specified by the Japanese regulations

Forklifts subject to shipment suspension: about 1,400 units manufactured per month
Impacts on financial results: unit sales, recall expenses, indemnifications, and others

We sincerely apologize for a great deal of inconvenience
to our customers and other stakeholders .
18/48

Certification of Engines for Forklifts【Sales-size of forklifts subject to shipment suspension】
Textile machineryand Others

Automobile

Net sales of forklifts subject
to shipment suspension(approx. 42 billion yen/
16.5 thousand units)

Consolidated net sales ofwhole company
Ｆ for FY2022
2,705.1 billion yen

Materials Handling Equipment

We sincerely apologize for a great deal of inconvenience
to our customers and other stakeholders .
19/48

Certification of Engines for Forklifts【Main disclosed information to date】■ March 17 News release and press conference on the case
■ March 20 On-site inspection by MLIT*1■ April 11 Recall notification to MLIT
-Notified MLIT recalls of “GENEO” forklift truck and “Shovel Loader” equipped with
1ZS/1KD engine (Forklift truck equipped with gasoline engine is not included as its
emissions regulation values are within the regulation)-Units subject to recall: Total 72,366-Adjust engine control program to suppressＦincrease of fuel injection volume, major cause
for PM value excess, due to degradation of injector■ April 25 Submission of statement notifying no opinion regarding to the issue,
instead of attending to the hearing which MLIT announced on April 18 relating totheir policy to impose administrative action of cancellation of model designation■ April 26 MLIT imposed administrative action of cancellation of model designation*2*1 Ministry of Land, Infrastructure, Transport and Tourism*2 Device models YDN-1ZS-4-01 and YDN-1KD-4-01, which are devices equipped to 1ZS and 1KD engines for forklift trucks
to suppress spread of carbon monoxide and others

We sincerely apologize for a great deal of inconvenience
to our customers and other stakeholders .
20/49

Certification of Engines for Forklifts【Actions to take】■ Market measures
Put the utmost efforts to conclude market measures as soon as possible.

■ Special investigation committee, Recurrence prevention
In accordance with results and proposals based on the clarification of the details of thecase and analysis of the root causes investigated by the special investigation committee,
Ｆ
TICO will formulate recurrence prevention measures,and carry out with concerted efforts
from the management to employees.

■ Responses to suppliers
Support and respond to suppliers’ difficulties, including indemnification for parts andproduction loss, and holding off on request of price decrease (cost reduction) in 1st half of
FY24.

We sincerely apologize for a great deal of inconvenience
to our customers and other stakeholders .
21/49

Ⅲ．Mid- to Long-term
Direction
Ｆ

22/48

Mid- to Long-Term Direction

Vision 2030 - Formulated and disclosed on April 26, 2019

Ｆ

23/48

Mid- to Long-Term Direction

Vision 2030 – Numerical Targets

134.7
68.7

159.0 169.9
147.4
134.6 128.2 118.1
127.3
3,379.8
122.9
2,705.1

2,250.4
2,243.2

2,214.9
2,171.3
2,003.9
2,118.3

1,675.1

1,479.8(FY) 2011Ｆ

20162017 2018 2019 2020 2021 2022 2023

2031

24/48

Mid- to Long-Term Direction

Perspective to achieve Vision 2030
1. Business Area
Offer products and services and build structure that meet
acceleration of car electrification as well as expansion ofneeds for more efficient and automated logistics

2. Social and Environmental Areas
Ｆ

Formulated CSR materiality and set action targets
Promote activities in both business as well as socialand environmental fields

3. Management Structure and Foundation
Establish essentially effective operational management inlight of changes in the world

25/48

Mid- to Long-Term Direction

1. Business Area
■ Acceleration of car electrification-Sales and production capability expansions of e-compressors anddevelopment of next generation type
-Increase of car models with our batteries installed, production
capability expansion of batteries■ Demand for internal combustion engines remains
Ｆ-Development of cleaner and more energy efficient engines-Production of gasoline engines for HEVs
-Production of HEVs and PHEVs■ Increase of needs for more efficient and automated logistics-Labor cost increase and labor shortage in the world
Respond to demand increase-Increase in environmental awareness-Increase value chain through after sales services and others-Group-wide response to growing needs for logistics solutions

26/48

Mid- to Long-Term Direction

2. Social and Environmental Areas■ Environmental Vision 2050 – Realize Carbon Neutrality-Likely to achieve objective to halve CO2 emissions by FY2031-Utilization of renewable energy,
promotion of further energy savings■ Focus on product development
which contributes toＦbetter society and the environment of the earth-R&D in the fields of electrification and automatization-Building sound and sustainable supply chain(human rights, cyber securities, environmental consciousness, and others)■ Form the basis of business activities-Create safe and healthy workplaces-Systems and environment to support human resources withvarious background to actively perform their competence

27/48

Mid- to Long-Term Direction

3. Management Structure and Foundation■ Safety and Compliance-Create workplace environment recognizing safety comes the first-Ensure management basics of thorough compliance■ Placing importance on realizing essential effectiveness,
keep strengthening corporate governance incorporating
expectations from the market
Ｆ-The board is operated spending sufficient time with atmosphere to report anddiscuss management issues-The board has gradually become compact, independent outside directors
accounts for 1/3 of the board of directors-A female executive officer appointed in 2022, increase diversity with bottom-up approach■ Re-examine cross-shareholdings in consideration ofreasons to hold
-Numbers of holding listed shares decreased from 46 in FY2011 to 35 in FY2023■ Shareholder return-Consolidated dividend payout ratio of roughly 30%, continuous cash return
Continue to plan various options
28/48

Ⅳ. Business Initiatives
Materials Handling
Equipment
Ｆ

Automobile

29/48

Materials Handling Equipment

1. Business Environment
Labor cost increasing
and labor shortage
Manpower saving & Automation

Advancement of logistics
Efficiency & Automation

Strengthening
environmental regulations
Carbon Neutrality

Accelerating these changes

The future is uncertain including concerns about geopolitical risks and inflation recently.
Meanwhile, the logistics volume will be increased due to sustained economic growthand logistics will be advanced due to e-commerce market expansion.
Both the forklift and logistics solution markets are expected to keep expanding.
(US $ trillion)（US $ billion）

World GDP*1

World e-commerce market*2

140
120

6,000

100
80

4,000

60
40

2,000

20
0

0
17 18 19 20 21 22 23 24 25*1： IMF, World Economic Outlook, April 2023
*2： e-marketer, Worldwide Ecommerce Forecast Update 2022

(CY)

17 18 19 20 21 22 23 24 25 (CY)30/48

Materials Handling Equipment

2. Our historical business growth(Billionsof yen) 1) Trends in net sales
2,500(Forklifts - New trucks, Value chain, Logistics solutions)

2,000

Logistics solutions

1,500

Ｆ

1,000

Forklifts - Value chain

500

Forklifts - New truck
0
11

12

13

14

142

15

16

17

18

19

20

21

22

(FY)

* Prior to fiscal 2017 are the figures under JGAAP.

Our business structure does not rely only on New truck
by expanding Value chain and Logistics solutions
31/48

Materials Handling Equipment

2. Our historical business growth(Thousands 2) Order intake for Forklift new trucksof units)

407

400

375

300

277
225

235

203
200
162

178

183

12

13

294

279

293

246

Ｆ

100

0
11

14

15

16

17

18

19

20

21

22

23

(FY)

Global order intake for new trucks keeps increasing steadily
32/48

Materials Handling Equipment

2. Our historical business growth3) Order intake for Logistics solutions(Billionsof yen)

466.9
421.5

414.6
400.0

347.0
317.8

Ｆ
200.0

0.0

19

20

21

22

23

(FY)

Global order intake for Logistics solutions keeps increasing steadily
33/48

Materials Handling Equipment

3. Our initiatives for further growth

1) Forklift trucks

Stabilize earnings by expanding Value chain
2) Logistics solutions

Ｆ

Expand regional and customer coverages3) Common initiatives
Expand technology and product lineups
for automation and environmental responses
34/48

Materials Handling Equipment

3. Our initiatives for further growth
1) Forklift trucks
Stabilize earnings by expanding Value chain
Delivering new
trucksCustomerTerms to use
at customers

Proposingnew trucks

Returningused trucks

Sales finance

Customer

Selling used
trucksSelling parts

Maintenanceservices

Sales company / Financial subsidiary

Build a relationship of trust with customers and Maximize lifetime profits
of each truck by providing services throughout the lifetime of forklifts
35/48

Materials Handling Equipment

3. Our initiatives for further growth2) Logistics solutions
Expand regional and customer coverage
Integrate and control wholeprocess optimally with software

Large
scale

Automatic
warehouse

EuropeNorth America

Japan

High ability
Conveyor Warehouse

Automatic
guided FL

Expandcoverages

Automatic
guided vehicle

Control several processes
with software

Middle/small scale

Acquiredin Jul 2022

Acquired in Nov 2021

Automate an individual process

Forklifttrucks andsurrounding

Respond to a range of needs seamlessly by coverages expansion of
Middle/small scale market in Europe and North America through M&A
36/48

Materials Handling Equipment

3. Our initiatives for further growth3) Common initiatives

Expand technology and product lineups for automationand environmental responses< Background >< Corresponding >Manned operations are the mainstayof truck loadings and unloading operations
at logistics "nodes".

Developed Autonomous Lift Truck
for Truck Loading
Completed the prospect offundamental technologies in
automated driving and loading

TrucksＦ
A large variety of pallets
・A large variety of trucks
・Variable stopping positions
・Complex operations
A large variety of operating environment(Exhibited at “Logis-Tech Tokyo 2022”)

Provide optimal solutions for each customers
37/48

Materials Handling Equipment

4. Topics in FY2023 – 1/3
Initiative for Demonstration and Support Project in 2022 for CASE correspondence
for automated guided forklifts, etc.
In response to the declining birthrate, aging population and enforcing the work style reformrelated law in 2024 faced by the logistics industry, initiatives to realize manpower savings,
decrease environmental impacts and the work style reform are accelerated through newschemes as an organization that implements Further Promote Transport and Delivery
Efficiency through Visualization and Autonomous Loading, etc.
Delivery/Load

Unload/DeliveryＦ
Scope of autonomous loading study

Working on the demonstration project with NEXT
Logistics Japan Co., Ltd and AISIN CORPORATION- Study layouts for demonstration(unloading/loading area)- Provide autonomous driving andloading forklift trucks, etc.

38/48

Materials Handling Equipment

4. Topics in FY2023 – 2/3
Demonstration test of Autonomous towing tractor at Haneda airport- Progressed from Lv3 to Lv4
 Completed the prospect of Lv3 technology thorough the demonstration tests
by FY2023
 Started preparing for Lv4 demonstration test
- Fully autonomous operations under specific conditions
Lv5. Fully autonomous operation
Autonomous
operation
level

Operation
supportLv4. Fully autonomous operation
under specific conditions
Lv3. Autonomous operation
under fixed conditions
Lv2. Autonomous passing, etc.
Lv1. Autonomous braking, driving, etc.

Autonomous towing tractor

39/48

Materials Handling Equipment

4. Topics in FY2023 – 3/3
Launched a new fuel cell lift truck aiming to realize
a hydrogen-based society from the logistics industry

・Excellent environmental performance,
without emitting CO2 during operation
・Superb convenience, allowing hydrogen
refueling to be completed in only 3 minutes
・Contribute to realize a carbon
neutral and hydrogen-based society

40/48

Ⅳ. Business Initiatives
Materials Handling
Equipment
Ｆ

Automobile

41/48

Car Air-Conditioning Compressor

1. Expansion of electric driven type2) Our sales forecast

1) Compressor market*(Thousands of units)(Thousands of units)

90,00040,00030,00060,0005,000

Electric driven type6,650 8,000

Electric driven type

20,00030,00010,00023,750 24,450 24,000

Engine driven type0

Engine driven type

0

22

23

24

25

26

Forecast

29 （FY）

22

23

24

25

26

28

（FY）

Forecast

Global demands for car air-conditioning compressors of electric
driven type are increasing steadily partly due to the expansion ofelectric vehicles in China despite of prolonged supply chain problems* Survey by Toyota Industries Corporation based on S&P Global

42/48

Car Air-Conditioning Compressor

2. Strengthen production system
Construct a 10-million Unit Production Capacity for Electric Compressors
Increase production capacity in Japan and China to meet expanding demandfor electric vehicles

High Capacity Electric Compressor

Higashiura Plant Machining Linefor BEVs

Considering the production in Europe and North America
to meet mid-term market expansion
43/48

Car Air-Conditioning Compressor

３. Expand our business areas by utilizing core technologies
Heating of car
interior + coolingelectric devices

PHEV・BEV

Cooling ofcar interiorLightweight &compact

High Capacity
HEV

With gas injection function

ICE

Towards Naturalrefrigerant
FCEV

CO2 & propane, etc.

Expand production lineups by utilizing our accumulated technologicalcapabilities and high efficiency and reliability to meet expansions of needs
44/48

Electronics Products

Our product for electric vehicles*(Thousands ofUnits per year)

15,00010,000DC-AC Inverter

Unit Integrating an On-Board
Charger and DC-DC Converter

5,000

0

FY2023

FY2024FY2025

FY2025

FY2026

Contribute strengthening initiatives “10 new models / 1.5 million units
per year by 2026” for BEVs by Toyota with our products
45/48

Battery

1. Established Ishihama plant in October 2022
Started and increased production capacityof bipolar nickel-metal hydride batteries

Bipolar nickel‐metal hydride battery
for HEVs
46/48

Battery

2. Increased production capacity(Thousands of unitsof bipolar nickel-metal hydride batteries
per month)

60

Planning to increase capacity
to 60,000 units / month
Production capacity

40

Since October 2022 Established Ishihama plant- 40,000 units / month20

Since June 2021 Started the production at Kyowa – 20,000 units / month
Image for demand expansion0
April, 2023

Increase the production capacity and Work on stable supply
in preparation for future expansion of vehicle models
47/48

Battery

3. Expand the number of vehicle models
bipolar nickel-metal hydride batteries are installed
Since July 2021 Aqua

Since September 2022 Crown (Crossover)Since November 2022 Lexus RX

Aim to further expand vehicle models our battery are installed
48/48

Cautionary Statement with Respect to
Forward-Looking Statements
This presentation contains projections of business results as well as statements regarding business plans,
forecasts, strategies, and other forward-looking statements that are not to be taken as historical fact.

Projections and forward-looking statements are based on the current expectations and estimates ofToyota Industries and its Group companies. All such projections and forward-looking statements are basedon 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. You should also be aware thatcertain risks and uncertainties could cause the actual results of Toyota Industries and its Group companies
to differ materially from any projections or forward-looking statements appearing in this report. Theserisks and uncertainties include, but are not limited to, the following: 1) economic trends, 2) various
competitive pressures, 3) changes in relevant laws and regulations, and 4) fluctuations in exchange rates.