Consolidated Financial Highlights
Toyota Industries Corporation
Six months ended September 30, 2006 and 2005 (unaudited)Thousands ofU.S. dollars

Millions of yen
September 30

2006

For the Six-Month Period
Net sales
Operating income
Ordinary income
Net income
Depreciation and amortization
Capital expenditures
Research and development expenses
Per share of common stock (in yen or U.S. dollars):
Net income — basic
Net income — diluted
Cash dividends
At the End of Six-Month Period
Total assets
Total net assets
Number of employees

September 30

2005% change¥ 913,085 ¥ 699,028
40,05132,051
53,482
41,57730,26825,00851,412
39,16987,43681,367
17,131
15,163
96.30
96.21
22.00

2006

30.6 % $ 7,744,572
25.0
339,70328.6
453,62221.0
256,72631.3
436,0647.5
741,61213.0
145,301

78.41
78.38
18.00

22.8
22.7
22.2

¥3,242,358 ¥2,682,651
1,624,752 1,326,135
35,12632,100

0.82
0.82
0.19

20.9 % $27,500,916
22.5
13,780,763
9.4

Note: U.S. dollar amounts have been translated from yen, for convenience only, at the rate of ¥117.9 = US$1, the exchange rate on September 30, 2006.

Net Sales

Operating Income

Net Income

Cash Dividends per Share(¥ Billion)(¥ Billion)(¥ Billion)(¥)

2,000805050

1,500604040

1,00040303020205002010100

FY05
First Half

06

070FY0506

070

FY0506070

FY050607

Full Year

Cautionary Statement with Respect to Forward-Looking Statements
This semiannual report contains projections and other forward-looking statements that involve risks and uncertainties. The use of the words “expect,” “anticipate,” “estimate,” “forecast,” “plan” and similar expressions isintended 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 theirplans, outlook, strategies and results for the future. All such projections 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 and its Group companies undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,future events or otherwise. Therefore, it is advised that you should not rely solely upon these projections and forward-looking statements in making your investment decisions. You should also be aware that certain risks anduncertainties could cause the actual results of Toyota Industries Corporation and its Group companies to differ materially from any projections or forward-looking statements discussed in this report. These risks and uncertainties
include, but are not limited 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 price fluctuations, (11) effects of disasters,
power blackouts and other incidents, (12) latent risks associated with international activities and (13) retirement benefit liabilities.

Definition of Terms“Fiscal 2007” refers to the fiscal year ending March 31, 2007, and other fiscal years are referred to in a corresponding manner. All references to the “Company” herein are to Toyota Industries Corporation, and references to “ToyotaIndustries” or “Toyota Industries Group” herein are to the Company and its 159 consolidated subsidiaries.

Contents
Consolidated Financial Highlights............................................. Inside CoverLetter to Shareholders ................................................................................. 1Topics ........................................................................................................ 5
Chronicle of Our 80-Year History............................................................... 6
Management’s Discussion and Analysisof Financial Condition and Results of Operations ................................... 8
Consolidated Balance Sheets ..................................................................... 10Consolidated Statements of Income .......................................................... 12
Consolidated Statements of Shareholders’ Equity ...................................... 12
Consolidated Statements of Cash Flows..................................................... 14Notes to Consolidated Financial Statements .............................................. 15Directors, Corporate Auditors and Managing Officers ............................... 23
Corporate Data ........................................................................................ 24
Investor Information................................................................... Back Cover