FINANCIAL SUMMARYFY2018First Quarter(April 1, 2017 through June 30, 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.

July 28, 2017

FY2018 First Quarter Consolidated Financial Results<IFRS>(April 1, 2017 - June 30, 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: August 10, 2017
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 First Quarter (April 1, 2017 - June 30, 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
First
Quarter

445,38810.9

44,222

52.6

77,48234.2

61,30338.0

FY 2017First
Quarter

401,551－

28,979－57,742－

44,419－Profit attributable toowners of the parent
Million yen

Comprehensive
income%Earnings
per share―basic

Million yen%

Earnings
per share―diluted
Yen

Yen

FY 2018
First
Quarter

59,94839.6

48,392－

193.08－FY 2017First
Quarter

42,955－(215,708)－

136.70136.70Equity attributable toowners of the parent

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

Total assets
Million yen

FY 2018
First
Quarter
FY 2017

Total equity
Million yen

Million yen%

4,751,256

2,344,104

2,266,432

47.7

4,558,212

2,316,467

2,240,293

49.1

2. Cash Dividends

Annual cash dividends per share
1st
Quarter

2nd
QuarterYen

FY2017FY2018－－FY 2018(Forcast)

3rd
QuarterYen

4thQuarterYen

FY Total
Yen

Yen

60.00

－

65.00

125.00

65.00

－

65.00

130.00(Note) Changes in the forecasted cash dividends in this quarter : N
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

FY2018
SecondQuarter(accum.)
FY2018

Profit before
income taxes

Operating profit%

Million yen%

Million yen

Profit attributable toowners of the parent%

Million yen

Earnings
per share―basic%

Yen

900,000－

72,000－100,000－

72,000－231.891,850,000

10.4

135,000

6.0

188,000

3.3

130,000(1.1)

418.69(Note) Changes in the forecasts of consolidated financial results in this quarter : No
4. Others(1) Changes in major subsidiaries (specified subsidaries that changed the scope of consolidation) : No
(2) Changes in accounting policies and accounting estimates① Changes in accounting principles required by IFRS : No
② Changes other than ①: No③ Changes in accounting estimates : No
(3) Issued and outstanding capital stock① Number of shares outstanding at end of each period (including treasury stock):
FY2018 First Quarter －325,840,640 shares, FY2017 －325,840,640 shares② Number of treasury stock outstanding at end of each period:
FY2018 First Quarter －15,351,661 shares, FY2017 －15,351,442 shares③ Average number of shares outstanding for each period (accumulated):
FY2018 First Quarter －310,489,065 shares, FY2017 First Quarter －314,228,184 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 105 yen to the U.S. dollar and 115 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 first quarter of fiscal 2018 (the three months from April 1 to June 30, 2017), total consolidated net sales of Toyota
Industries amounted to 445.3 billion yen, an increase of 43.8 billion yen, or 11%, 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 142.7 billion yen, an increase of 5.8 billion yen, or 4%, from the same period of theprevious fiscal year.
Within this segment, net sales of the Vehicle Business amounted to 17.6 billion yen, an increase of 1.2 billion yen, or 7%, due
mainly to increases in sales of the Vitz (Yaris outside Japan) and RAV4.
Net sales of the Engine Business totaled 22.9 billion yen, an increase of 1.6 billion yen, or 8%, as a result of increases in sales ofAR gasoline engines and VD diesel engines.
Net sales of the Car Air-Conditioning Compressor Business were on par with the previous fiscal year at 85.4 billion yen. This was
because decreases in unit sales in Europe and other regions were offset by increases in Japan and China.
Net sales of the Electronics Parts, Foundry and Others Business totaled 16.6 billion yen, an increase of 2.1 billion yen, or 15%,due primarily to increases in sales of electronics parts and foundry products.
Net sales of the Materials Handling Equipment Segment amounted to 274.5 billion yen, an increase of 37.9 billion yen, or 16%.
The increase was attributable to two factors, namely, the acquisition of Bastian Solutions LLC in April 2017 and Vanderlande
Industries Holding B.V. in May 2017 as well as an increase in unit sales of lift trucks, a mainstay product of this segment, in Japan,
Europe and other regions.
Net sales of the Textile Machinery Segment increased 0.6 billion yen, or 4% to 14.5 billion yen as a result of an increase in salesof spinning machinery offsetting a decrease in weaving machinery.
Net sales of the Others Segment totaled 13.5 billion yen, a decrease of 0.5 billion yen, or 4%.
In terms of overall profit, despite increase in raw material costs and increase in labor costs, Toyota Industries recorded an increasein profit due mainly to sales efforts, increases in promoting cost reduction efforts throughout the Toyota Industries Group, theimpact of exchange rate fluctuations and changes in retirement benefit plan. As a result, Toyota Industries posted consolidated
operating profit of 44.2 billion yen, an increase of 15.3 billion yen, or 53%, from the same period of the previous fiscal year andprofit before income taxes of 77.4 billion yen, an increase of 19.7 billion yen, or 34%, from the same period of the previous fiscal
year. Profit attributable to owners of the parent totaled 59.9 billion yen, an increase of 17.0 billion yen, or 40%, from the same
period of the previous fiscal year.

―2―(2) Explanation for Financial Condition
Total assets increased 193.0 billion yen from the end of the previous fiscal year to 4,751.2 billion yen due mainly to a increase ingoodwill and intangible assets. Liabilities amounted to 2,407.1 billion yen, an increase of 165.4 billion yen from the end of theprevious fiscal year due mainly to an increase in corporate bonds and loans. Net assets amounted to 2,344.1 billion yen, an increaseof 27.7 billion yen from the end of the previous fiscal year.

(3) Explanation for Forecast for FY 2018
Toyota Industries forecasts consolidated net sales of 1,850.0 billion yen, operating profit of 135.0 billion yen, profit before income
taxes of 188.0 billion yen and profit attributable to owners of the parent of 130.0 billion yen. Our projections are based on assumed
exchange rates of 105 yen to the U.S dollar and 115 yen to the euro for fiscal 2018.

―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
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 First Quarter(As of June 30, 2017)

243,685
646,542
174,301
194,427
21,10642,356
1,322,420

298,947
698,276
77,786
216,449
19,39041,041
1,351,892

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

856,251355,862705
8,824
2,120,712
26,947
25,8304,229
3,399,363
4,751,256

(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 First Quarter(As of June 30, 2017)395,698
311,663
71,807
11,163
7,397
12,872810,603433,147
413,89073,668
11,400
7,043
18,412
957,564

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

688,568
79,14589,5809,387
562,668
20,237
1,449,587
2,407,151

80,462
105,417954,503(59,272)
1,159,181
2,240,293
76,174
2,316,467
4,558,212

80,462
105,417993,585(59,273)
1,146,239
2,266,432
77,671
2,344,104
4,751,256

(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 First Quarter(April 1, 2016
– June 30, 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 First Quarter(April 1, 2017
– June 30, 2017)

401,551(304,303)
97,248(66,145)
1,504(3,627)28,97932,469(3,926)445,388(342,459)
102,928(73,462)
16,624(1,867)44,22235,484(2,461)

219

238

57,742(13,322)
44,41977,482(16,178)
61,30342,955
1,463

59,9481,355

136.70136.70193.08－

Condensed Quarterly Consolidated Statement of Comprehensive Income(Millions of yen)
FY2017 First Quarter(April 1, 2016
– June 30, 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 First Quarter(April 1, 2017
– June 30, 2017)44,41961,303(206,381)
2,008(25,845)
(672)

(12)

2

(204,384)(26,516)(55,351)
321

13,732
(164)

(713)

37

(55,743)(260,127)(215,708)

13,604(12,911)
48,392(213,543)(2,165)46,3222,070

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

Capitalstock

Balance at April 1, 2016

CapitalsurplusRetainedearnings

Other components ofshareholders’equity
Net changes inrevaluation of
Remeasurements
FVTOCIof defined benefit
financialplans
assetsTreasurystock－

80,462

105,517855,317(41,266)

1,132,655

Profit－－42,955－－－

Other comprehensive income

－

－

－

－

(206,253)

1,995

－

－

42,955－(206,253)

1,995

Total comprehensive income
Repurchase of treasury stock

－

－

－

(1)

－

－

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－－(18,853)

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

1,995

－

－

(1,995)

Other increases (decreases)

－

－

－

－

－

－

Total transactions with owners－(0)(16,857)

4－(1,995)

Balance at June 30, 2016

80,462

105,516

881,415(41,262)

926,402－

Balance at April 1, 2017－80,462

105,417954,503(59,272)

1,209,592

Profit－－59,948－－－Other comprehensive income

－

－

－

－

(25,992)

(684)

－

－

59,948－(25,992)(684)

Repurchase of treasury stock

－

－

－

(1)

－

－

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－－(20,181)

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

－

(684)

－

－

684

Other increases (decreases)

－

－

－

－

－

－

Total transactions with owners－－(20,866)

(1)

－

684

80,462

105,417993,585(59,273)

1,183,599－

Total comprehensive income

Balance at June 30, 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

42,955

1,463

44,419(256,499)(256,499)(3,628)(260,127)－(256,499)(213,543)(2,165)(215,708)

－

－

－

(1)

－

(1)

－

－

－

5

－

5

－

－

－

－

(18,853)(807)(19,660)

－

－

－

－

－

－

－

－

－

－

－

－

(94)

(94)

－

－

－

(1,995)

－

－

－

－

－

(1)

(1)

(1)

(107)

(108)

Foreigncurrencytranslation
adjustment

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

6

1,098,627

－

－

－

－

(52,563)321－(52,563)

321

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

－

－

(1)

(1,996)(18,850)(1,009)(19,860)

Balance at June 30, 2016

(85,362)(913)

5840,131

1,866,264

67,4801,933,744

Balance at April 1, 2017

(50,417)

6－

1,159,181

2,240,293

76,174

2,316,467

－

－

－

－

59,9481,355

61,303

13,215(164)－(13,626)(13,626)714(12,911)

Total transactions with owners

ProfitOther comprehensive income

13,215(164)－(13,626)

46,322

2,070

48,392

Repurchase of treasury stock

－

－

－

－

(1)

－

(1)

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

－

－

－

－

(20,181)(692)(20,873)

－

－

－

－

－

－

－

－

－

－

－

－

15

15

－

－

－

684

－

－

－

Other increases (decreases)

－

－

－

－

－

103

103

－

－

－

684

(20,182)(572)(20,755)(37,202)(157)－

1,146,239

2,266,432

77,671

2,344,104

Total comprehensive income

Total transactions with owners
Balance at June 30, 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 First quarter of fiscal 2018 (the three months from April 1 to June 30, 2017), Toyota Industries paid dividendsof 20,181 million yen from retained earnings.

― 10 ―

(Segment Information）
FY2017 First Quarter (April 1, 2016– June 30, 2016)(Millions of yen)

Sales
Outside customer
sales
Inter-segment
transactions
Total

Automobile

Materials
Handling
Equipment

TextileMachinery

Others(Note 1)

136,934

236,626

13,952

14,039401,551－

401,551

5,513

374

53

4,837

10,778(10,778)－

142,447

237,000

14,00518,877412,330(10,778)

401,551

Total

Elimination Consolidated(Note 2)
(Note 3)

Segment profit

5,003

20,797

1,489

1,675

28,966

12

28,979Segment assets

532,047

1,187,607

43,548229,291

1,992,494

1,884,354

3,876,849

Financial income

32,469Financial expenses(3,926)

Share of profit (loss) ofinvestments accounted
for by the equity
methodProfit before income
taxes(Notes)219

57,742

1. "Others" represents businesses not included in the above reporting segments.
2 Breakdown of elimination
12 million yen included in "Elimination" for "Segment profit" is inter-segment transactions.
"Elimination" for "Segment assets" includes corporate assets.
Corporate assets mainly consist of the Company's cash and deposits as well as marketable securities andinvestment securities.
3 "Segment profit" reconciles to operating profit disclosed in the consolidated statements of profit or loss.

FY2018 First Quarter (April 1, 2017– June 30, 2017)(Millions of yen)

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

Materials
Handling
Equipment

TextileMachinery

Others(Note 1)

142,756

274,580

14,54913,500445,388－445,388

5,944

326

52

5,109

11,432(11,432)－

148,701
15,625510,093274,907
25,192
1,614,693

14,602
2,258
50,452

18,6091,131
266,870

456,820
44,2082,442,109(11,432)14
2,309,146

445,388
44,222
4,751,256
35,484(2,461)

Total

Elimination Consolidated(Note 2)
(Note 3)238

77,482

1. "Others" represents businesses not included in the above reporting segments.
2 Breakdown of elimination
14 million yen included in "Elimination" for "Segment profit" is inter-segment transactions.
"Elimination" for "Segment assets" includes corporate assets.
Corporate assets mainly consist of the Company's cash and deposits as well as marketable securities andinvestment securities.
3 "Segment profit" reconciles to operating profit disclosed in the consolidated statements of profit or loss.

― 11 ―