FINANCIAL SUMMARY
FY2007

Third Quarter(April 1, 2006 through December 31, 2006)

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. The use of thewords “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 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 andforward-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 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 pricefluctuations, 11) effects of disasters, power blackouts and other incidents, 12) latent risks associated with international
activities and 13) retirement benefit liabilities.

February 1, 2007

FY2007 Third Quarter Consolidated Financial Results(April 1, 2006 - December 31, 2006)

TOYOTA INDUSTRIES CORPORATION
Stock exchange listings: Tokyo, Osaka and Nagoya (Code number: 6201) (URL http://www.toyota-industries.com/)
Head office: 2-1, Toyoda-cho, Kariya-shi, Aichi-ken, 448-8671, Japan
Representative person: Tetsuro Toyoda, President
Contact person: Toshifumi Ogawa, General Manager of Accounting Department (Tel. +81-(0) 566-22-2511)

1. Financial Highlights for FY2007 Third Quarter (April 1, 2006 - December 31, 2006)(1) Consolidated financial results(Amounts less than one million yen are omitted.)change from% change from% change fromyear ) Operating income ( previous year ) Ordinary income ( previous year )( %previous

Net sales
Million yen

FY2007
Third Quarter
FY2006
Third Quarter
FY2006%

Million yen%

Million yen%

1,392,035

(

29.9

)

65,965(40.9)

89,721(37.8)

1,071,837

(

18.8

)

46,832(11.0)

65,100(9.2)

1,505,955

64,040Million yen

FY2007
Third Quarter
FY2006
Third Quarter
FY2006

Net income pershare－basic

change fromyear )( %previous

Net income

80,635%

Net income pershare－diluted
Yen

Yen

51,549(28.1)

164.40164.2340,228(9.2)

126.08125.99146.16146.0247,077(2) Consolidated financial position
Total assets

Total net assets

Million yen

Equity ratio

Million yen

Equity per share%Yen

FY2007 Third Quarter
FY2006 Third Quarter

3,666,724
3,063,815

1,872,270
1,524,174

49.5
49.7

5,816.81
4,773.40

FY2006

3,245,341

1,611,227

49.6

5,044.45(3) Scope of consolidation and equity method
Consolidated subsidiaries: 161 companies
Unconsolidated subsidiaries accounted for under the equity method: 0 company
Affiliates accounted for under the equity method: 21 companies(4) Changes in scope of consolidation and equity method
Consolidated subsidiaries: (increase) 10 companies, (decrease) 2 companies
Equity method: (increase) 1 company, (decrease) 2 companies
2. Forecasts of Consolidated Financial Results for FY2007 (April 1, 2006 - March 31, 2007)
Net sales

Operating income
Million yen

FY20071,800,000

Million yen

76,000Ordinary income
Million yen

95,000Net income
Million yen

53,000

Reference: (Forecast) Net income per share - basic (annual): 169.85 yen* Figures for fiscal 2007 have not been revised from those previously announced on October 31, 2006.
* All projections are based on the information available to management at the time of producing this report and are not guarantees of future performance.
Certain risks and uncertainties could cause the actual results of Toyota Industries to differ materially from any projections discussed in this report.

Business Results
During the third quarter of fiscal 2007 (the nine months from April 1 to December 31, 2006), total consolidated net
sales of Toyota Industries amounted to 1,392.0 billion yen, an increase of 320.2 billion yen, or 30%, compared with
year-on-year results for the same period in fiscal 2006 (“previous period”). The following is a review of operations forthe major business segments.
Net sales of the Automobile Segment totaled 663.0 billion yen, an increase of 138.6 billion yen, or 26%, over theprevious period. Within this segment, net sales of the Vehicle Business amounted to 346.6 billion yen, an increase of
97.9 billion yen, or 39%, over the previous period, due to brisk sales of the RAV4 in the U.S and European markets.
Net sales of the Engine Business totaled 122.9 billion yen, an increase of 24.9 billion yen, or 25%, over the previous
period. This increase was attributable to increases in sales of AD diesel engines fitted in the RAV4 for Europe andother vehicles as well as KD diesel engines for the Innovative International Multi-Purpose Vehicle (IMV) series. Net
sales of the Car Air-Conditioning Compressor Business totaled 170.0 billion yen, an increase of 12.4 billion yen, or
8%, over the previous period, due primarily to an increase in sales in Europe.
Net sales of the Materials Handling Equipment Segment totaled 580.7 billion yen, an increase of 153.3 billion yen,or 36%, over the previous period. This segment posted strong sales as a result of a fortified sales network andproactive sales expansion activities. The effect of a change in the fiscal year-end of the BT Industries Group alongwith strong sales of Aichi Corporation also contributed to the increase. In September 2006, Toyota Industries
commenced sales of its flagship model 1- to 3.5-ton internal combustion lift trucks (sold as GENEO in Japan and
8-Series overseas), which underwent a full model change after eight years.
Net sales of the Logistics Segment amounted to 63.8 billion yen, an increase of 16.2 billion yen, or 34%, over theprevious period, due mainly to favorable sales of the transportation services business.
Net sales of the Textile Machinery Segment amounted to 42.5 billion yen, an increase of 6.6 billion yen, or 18%,
over the previous period, chiefly reflected by higher sales of Toyota Industries’ mainstay air-jet looms to China.
During this period, ordinary income amounted to 89.7 billion yen, an increase of 24.6 billion yen, or 38%, over theprevious period. Despite the effects of a rise in raw materials costs and increases in depreciation and personnel
expenses, the rise in ordinary income resulted from gains in domestic and overseas sales in addition to thepromotion of Group-wide cost improvement activities and an increase in non-operating income.
For fiscal 2007, ending March 31, 2007, Toyota Industries forecasts consolidated net sales of 1,800.0 billion yen,operating income of 76.0 billion yen, ordinary income of 95.0 billion yen and net income of 53.0 billion yen. These
forecasts remain unchanged from projections announced as of September 2006.

Breakdown of Consolidated Net Sales(Million yen)

FY2007 Third Quarter
AmountComponent
ratio

248,760

8.8

98,062

170,032

12.2

23,432

Subtotal

FY2006% changeAmountComponent
ratio

97,868372,092

%
24.7

9.1

24,93725.4

132,382

8.8

157,658

14.7

12,3747.8

215,983

14.3

1.7

19,970

1.9

3,462

17.3

26,3371.8

663,09347.6

524,45248.9

138,641

26.4

746,795

49.6

Materials handlingequipment

580,75341.7

427,433

39.9

153,32035.9

595,236

39.5

Logistics

63,821

4.6

47,616

4.4

16,20534.0

65,145

4.3

Textile machinery

42,505

3.1

35,931

3.4

6,574

18.3

49,789

3.3

Others41,861

3.0

36,402

3.4

5,459

15.0

48,9883.3

100.0 1,071,837

100.0

320,198

29.9

1,505,955

100.0

Car air-conditioning
compressor
Foundry, Electronics
parts and others

Total

122,999

Increase(Decrease)%
39.3

Engine346,628

Component
ratio

Amount%23.2

Automobile
Vehicle%24.9

FY2006 Third Quarter

1,392,035-1-

Consolidated Balance Sheets
Increase(Decrease)

FY2007 Third Quarter

FY2006(As of December 31, 2006)(As of March 31, 2006)

552,915509,266

43,649498,509

Cash and deposits

111,330

94,474

16,856106,242

Trade notes and accounts
receivable

207,148

200,690

6,458

174,98145,04145,00239

50,000115,010

104,534

10,476103,104

Deferred tax assets

15,392

18,096(2,704)

13,490

Other current assets

61,35049,133

12,21753,064Less－allowance for doubtful
accounts(2,359)(2,665)306(2,374)

3,113,808

2,736,074

377,734

2,565,306

Property, plant and equipment

590,819

526,154

64,665

512,507

Buildings and structures

170,773

155,168

15,605

148,335

Machinery, equipment andvehicles262,154

240,467

21,687

235,155

Tools, furniture and fixtures

23,56822,3101,258

23,018Land

95,29887,213

8,085

83,191

Construction in progress

39,02320,99418,02922,806115,243

109,968

5,275

109,103

Goodwill

103,522

97,485

6,037

96,592

Software11,72012,483(763)

12,511

Investments and other assets

2,407,745

2,099,951

307,794

1,943,695

Investments in securities

2,336,395

2,031,863

304,532

1,876,302

8,492

8,591

(99)

8,693

11,243

11,358(115)

11,567

7,483

6,842

641

6,412

44,363

41,532

2,831

40,957

(232)

(237)

5

(238)

3,666,724

3,245,341

421,383

3,063,815

FY2006 Third Quarter(As of December 31, 2005)

AssetsCurrent assets

Marketable securities
Inventories

Fixed assets

Intangible assets

Long-term loans
Long-term prepaid expenses
Deferred tax assets
Other investments and otherassetsLess－allowance for doubtful
accounts
Total assets-2-

(Million yen)

FY2006

FY2007 Third Quarter(As of December 31, 2006) (As of March 31, 2006)

Increase(Decrease)

FY2006 Third Quarter(As of December 31, 2005)

Liabilities
502,193446,118

56,075417,017

188,906

182,595

6,311

163,906

Short-term bank loans

47,16638,9288,238

41,395

Commercial paper

34,62029,6804,940

29,200Current portion of bonds

30,00015,00015,00015,000

Other payables

30,49330,620(127)

26,788

Accrued expenses

71,61567,674

3,941

60,771

Accrued income taxes

16,71913,625

3,094

8,175

Deposits received from
employees

23,832

20,914

2,918

22,911

Deferred tax liabilities

3,469

3,857

(388)

3,807

Other current liabilities

55,37043,221

12,14945,060Long-term liabilities

1,292,260

1,138,724

153,536

1,075,476

Bonds

281,070

283,831(2,761)

270,388

Long-term debt

140,273

106,267

34,006108,627

Deferred tax liabilities

799,203

681,503117,700

630,835

Allowance for retirement benefits

44,82846,535(1,707)45,139Other long-term liabilities

26,884

20,585

6,299

20,484

Total liabilities

1,794,454

1,584,842

209,612

1,492,494-

49,270(49,270)

47,146

Shareholders’ equity

532,717

530,1502,567

523,280

Common stock

80,46280,462-80,462

Capital surplus

105,089

105,665(576)

105,668

Retained earnings

394,516

358,385

36,131

351,537

Treasury stock at cost

(47,350)(14,363)(32,987)(14,387)

1,282,385

1,081,077

201,308

1,000,894

1,227,068

1,047,190

179,878

970,554

(90)

-

(90)

-

55,40633,886

21,52030,340

126

-

126

-

57,040-57,040-Total net assets

1,872,270

1,611,227

261,043

1,524,174

Total liabilities andnet assets

3,666,724

3,245,341

421,383

3,063,815

Current liabilities
Trade notes and accounts
payableMinority interest inconsolidated subsidiaries
Net assets

Valuation and translation
adjustments
Net unrealized gains or losses
on other securities
Deferred gains or losses on
HedgesForeign currencytranslation adjustments
Subscription rights to shares
Minority interest inconsolidated subsidiaries-3-Consolidated Statements of Income(Million yen)

FY2007 Third Quarter( April 1,2006 December 31, 2006 )FY2006 Third Quarter( April 1,2005 December 31, 2005 )Net sales

1,392,035

1,071,837

320,198

1,505,955

Cost of sales

1,177,177

903,657

273,520

1,276,499

Gross profit

214,857

168,179

46,678229,456

Selling, general andadministrative expenses

148,892

121,347

27,545

165,416

Operating income

65,96546,832

19,13364,040Non-operating income

47,43835,856

11,58243,854

Interest income

12,037

6,626

5,411

9,113

Dividends income

27,443

20,036

7,407

20,090

Other non-operating income

7,957

9,193

(1,236)

14,649Non-operating expenses

23,682

17,5886,094

27,25914,619

8,151

6,468

11,955

9,063

9,437

(374)

15,303

Ordinary income

89,721

65,10024,621

80,635

Income before incometaxes

89,721

65,10024,621

80,635

Income taxes

33,112

21,284

11,82828,308

5,058

3,587

1,471

5,249

51,54940,228

11,32147,077

Interest expenses
Other non-operating expenses

Minority interest inconsolidated subsidiaries
Net income-4-

Increase(Decrease)

FY2006( April 1,2005 March 31, 2006 )Segment Information
1.Business segment information(1)FY2007 Third Quarter (April 1, 2006 - December 31, 2006)(Million yen)

Automobile

Materials
handling
equipment

Logistics

Textilemachinery

OthersTotal

Eliminations Consolidated(1) Outside customer sales

663,093580,753

63,82142,50541,861

1,392,035-

1,392,035(2) Intersegment transactions

15,499

396

5,376

4

16,41537,692(37,692)-

Total

678,592

581,150

69,19842,50958,277

1,429,727(37,692) 1,392,035

Operating expenses

655,941

543,760

68,092

41,53954,491

1,363,825(37,756) 1,326,069

Operating income

22,651

37,389

1,105

970

3,785

65,902

Net sales

63

65,965

Notes 1. Business segments are divided by the type and nature of the product.
2. Main products of each segment:
Automobile ………………………Passenger vehicles, diesel and gasoline engines, car air-conditioning compressors, foundry, electronics
parts
Materials handling equipment ...Counterbalanced lift trucks, warehouse equipment, automated storage and retrieval systems, aerial work
platforms
Logistics …………………………Transportation services, logistics planning, operation of distribution centers, collection and delivery ofcash and management of sales proceeds
Textile machinery ………………Air jet looms, water jet looms ,ring spinning frames
Others ……………………………Semiconductor package substrates(2)FY2006 Third Quarter (April 1, 2005 - December 31, 2005)(Million yen)

Automobile

Materials
handling
equipment

Logistics

Textilemachinery

OthersTotal

Eliminations Consolidated(1) Outside customer sales

524,452

427,433

47,61635,931

36,402

1,071,837-

1,071,837(2) Intersegment transactions

15,412

314

4,385

15

14,77534,903(34,903)-

Total

539,865

427,748

52,00135,94751,1781,106,740(34,903) 1,071,837

Operating expenses

525,294

399,094

51,21336,01948,246

1,059,868(34,863) 1,025,005

Operating income

14,571

28,653

787

(72)

2,932

46,871

Net sales(39)(3)FY2006 (April 1, 2005 - March 31, 2006)

46,832(Million yen)

Automobile

Materials
handling
equipment

Logistics

Textilemachinery

OthersTotal

Eliminations Consolidated(1) Outside customer sales

746,795

595,236

65,14549,78948,9881,505,955-

1,505,955(2) Intersegment transactions

20,768

482

6,355

22

20,851

48,480(48,480)-

Total

767,564595,718

71,50049,811

69,8391,554,436(48,480) 1,505,955

Operating expenses

747,468

556,950

69,91349,882

66,107

1,490,322(48,407) 1,441,915

Operating income

20,09538,768

1,587

(70)

3,732

64,113

Net sales

-5-

(73)

64,0402.Geographical segment information(1)FY2007 Third Quarter (April 1, 2006 - December 31, 2006)
North
Japan
America
Net sales(1) Outside customer sales
902,521
222,775(2) Intersegment transactions
87,954
1,531
Total
990,476
224,307
Operating expenses
940,455
218,583
Operating income
50,0205,723(2) FY2006 Third Quarter (April 1, 2005 - December 31, 2005)
North
Japan
America
Net sales(1) Outside customer sales
715,270
176,299(2) Intersegment transactions
83,653
1,499
Total
798,923
177,798
Operating expenses
760,830
172,741
Operating income
38,092
5,057(Million yen)

EuropeOthersTotal

Eliminations Consolidated

233,40333,335

1,392,035-

1,392,035

4,976

3,849

98,312(98,312)-238,380

37,184

1,490,347(98,312)

1,392,035

229,817

34,856

1,423,712(97,643)

1,326,069

8,562

2,327

66,635(669)

65,965(Million yen)

EuropeOthersTotal

Eliminations Consolidated

155,401

24,865

1,071,837-

1,071,837

4,084

2,691

91,928(91,928)-

159,486

27,557

1,163,765(91,928)

1,071,837

155,695

26,593

1,115,861(90,856)

1,025,005

3,790

963

47,904(1,072)

46,832(3) FY2006 (April 1, 2005 - March 31, 2006)(Million yen)

Japan

North
America

Europe(1) Outside customer sales

1,009,368

246,129

216,230(2) Intersegment transactions
Total

112,543

2,056

5,689

3,998

124,288(124,288)-

1,121,912

248,186

221,919

38,226

1,630,243(124,288)

1,505,955

Operating expenses

1,069,137

241,467

217,370

36,743

1,564,719(122,804)

1,441,915

Operating income

52,775

6,718

4,548

1,482

65,524(1,484)64,040

OthersTotal

Eliminations Consolidated

1,505,955-

Net sales-6-34,227

1,505,955

3.Overseas sales(1)FY2007 Third Quarter (April 1, 2006 - December 31, 2006)

Overseas sales(Million yen)

North America

EuropeOthersTotal

223,474

259,320

111,377

594,172

Consolidated sales
Ratio of overseas sales to consolidated sales

1,392,035
16.1%

18.6%

8.0%

(2) FY2006 Third Quarter (April 1, 2005 - December 31, 2005)

Overseas sales(Million yen)

North America

EuropeOthersTotal

176,955

179,868

89,217446,041

Consolidated sales
Ratio of overseas sales to consolidated sales

1,071,837
16.5%

16.8%

8.3%

(3) FY2006 (April 1, 2005 - March 31, 2006)

Overseas sales

41.6%(Million yen)

North America

EuropeOthersTotal

247,957

249,237

123,751

620,946

Consolidated sales
Ratio of overseas sales to consolidated sales

42.7%

1,505,955
16.5%

-7-

16.5%

8.2%

41.2%

Februay 1, 2007
TOYOTA INDUSTRIES CORPORATIONFINANCIAL SUMMARY for FY2007 Third Quarter (April 1, 2006 - Dec. 31, 2006)
1. Consolidated financial results(Billion yen, %)Net sales
Operating income
Ordinary income
Net income

FY2007 3rd Quarter

FY2006 3rd Quarter

April 06 - December 06

April 05 - December 05

1,392.0
4.7%
65.9
6.4%
89.7
3.7%
51.5
116
148
3,666.7
1,872.2
49.5%
89.5
21.3
54.4
161 companies
21 companies

1,071.8
320.2
4.4%
46.8
19.1
6.1%
65.1
24.6
3.8%
40.2
11.3
112
4
137
11
3,063.8
602.9
1,524.1
348.1
49.7%
95.5
(6.0)
17.5
3.8
45.6
8.8
151 companies 10 companies
21 companies−

100.0%\/US$\/EuroExchange rate

Total assets
Total net assets
Equity ratio
Investments in tangible assets
Investments in overseas
Depreciation
Consolidated subsidiaries
Affiliates applied the equity method

Change%Amount100.0%

FY2007 Forecast

ChangeApril 06 - March 07

%

29.9

100.0%

40.9

4.2%

37.8

5.3%

28.1

2.9%

19.7
22.8
(6.3)
21.2
19.2

1,800.0
76.0
95.0
53.0
115
145
−
−
−
130.0
26.0
75.0
−
−

19.5
18.7
17.8
12.6

(0.1)
0.6
16.4

Note: Starting from FY2006, the BT Industries Group, which constitutes our network of subsidiaries, changed its fiscal year-end from December (Jan. - Dec.) to March (Jan. - next Mar.).
As a result, the table above includes the BT Industries Group's results from January to December 2006. Excluding the effects of changes in fiscal year (Jan. - Mar.), net sales amounted
to 1,328.3 billion yen (up 256.5 billion yen, or 23.9%), operating income totaled 64.0 billion yen (up 17.2 billion yen, or 36.7%), ordinary income was 87.0 billion yen (up 21.9 billion yen,or 33.6%) and net income totaled 50.3 billion yen (up 10.1 billion yen, or 25.0%).

2. Breakdown of consolidated net sales(Billion yen, %)FY2007 3rd Quarter
VehicleEngineCar air-conditioning compressor
Foundry, electronics and other
Automobile total
Materials handling equipment ※Logistics
Textile machinery
Others
Total

24.9%
8.8%
12.2%
1.7%
47.6%
41.7%
4.6%
3.1%
3.0%
100.0%

FY2006 3rd Quarter

346.6
122.9
170.0
23.4
663.0
580.7
63.8
42.5
41.8
1,392.0

23.2%
9.1%
14.7%
1.9%
48.9%
39.9%
4.4%
3.4%
3.4%
100.0%

248.7
98.0
157.6
19.9
524.4
427.4
47.6
35.9
36.4
1,071.8

Change
97.9
24.9
12.4
3.5
138.6
153.3
16.2
6.6
5.4
320.2

%

FY2007 Forecast

39.3

25.6%

25.4

8.9%

7.8

12.8%

17.3

1.9%

26.4

49.2%

35.9

40.0%

34.0

5.0%

18.3

3.0%

15.0

2.8%

29.9

100.0%

460.0
160.0
230.0
35.0
885.0
720.0
90.0
55.0
50.0
1,800.0

%

23.6
20.9
6.5
32.9
18.5
21.0
38.2
10.5
2.1
19.5

※ Excluding the effects of changes in subsidiaries' fiscal year, net sales of the Materials Handling Equipment Segment was 517.0 billion yen (up 89.6 billion yen, or 21.0%)

3. Unit sales(Thousand Units)

FY2007
FY2006
Change3rd Quarter 3rd Quarter

FY2007 Change

Vitz (Yaris)

138

137

1

182

(7)

RAV4

122

65

57

168

60

Vehicle

260

202

58

350

53

Engine

359

263

96

494

132

72

133

(61)

88

(78)

14,87014,000870

20,3001,190

CKD
Car air-conditioning
compressor
Materials handlingequipment ※

164

137

27

216

※ Excluding the effects of changes in subsidiaries' fiscal year, units sales amounted
to 142 thousand units. (up 5 thousand units)

English translation from the original Japanese-language document

32

4. Changes in ordinary income(Billion yen)

Sales volume increase
Cost reduction
Exchange gain
Impact of change in subsidiaries' fiscal year
Non-operating income increase

22.0
16.0
3.7
1.9
5.5

Increase total
Depreciation
Raw material cost
Labor cost
Expenses and others

49.1
8.8
8.0
5.0
2.7

Decrease total

24.5

Total increase in ordinary income

24.6