Consolidated Balance Sheets
Toyota Industries Corporation
As of March 31, 2003 and 2002

Thousands ofU.S. dollars (Note 1)

Millions of yen

ASSETS

2003

2002

2003

Current assets:
Cash and cash equivalents (Note 4)¥ 136,929

Trade notes and accounts receivable (Note 8)
Short-term investments (Note 5)

71,120$ 1,139,176

119,048¥

107,821990,416

3,692

7,979

30,715Inventories (Note 6)

69,141

70,511

575,216

Deferred tax assets (Note 15)

14,072

10,081

117,072

Other current assets

30,92529,731

257,280

Less — allowance for doubtful accounts(1,999)(1,917)(16,631)371,808

295,326

3,093,244

Buildings and structures (Note 8)

118,449

102,659

985,433

Machinery, equipment and vehicles (Notes 8 and 16)

157,733

149,259

1,312,254

Tools, furniture and fixtures (Note 16)

16,007

15,483

133,170

Land (Note 8)

56,25546,550468,012Construction in progress

13,74923,692

114,384

Total property, plant and equipment

362,193

337,643

3,013,253

Total current assets
Fixed assets:
Property, plant and equipment:

Intangible assets:
Software

9,195

6,347

76,498Goodwill

87,57888,528

728,602

Total intangible assets

96,773

94,875805,100

Investments in securities (Notes 5 and 8)

745,909968,604

6,205,566

Unconsolidated subsidiaries and affiliated companies

16,431

17,751

136,697

Long-term loans

10,522

11,53387,537Long-term prepaid expenses

15,082

11,927

125,474

Investments and other assets:

Deferred tax assets (Note 15)

2,863

2,237

23,819Other investments and other assets (Note 14)

29,05730,621

241,739

(247)

(116)

(2,055)

819,617

1,042,557

6,818,777

1,278,5831,475,075

10,637,130¥1,650,391¥1,770,401$13,730,374

Less — allowance for doubtful accounts

Total investments and other assets
Total fixed assets
Total assets
The accompanying notes are an integral part of these financial statements.

50

TOYOTA INDUSTRIES CORPORATIONANNUAL REPORT 2003

Thousands ofU.S. dollars (Note 1)

Millions of yen

LIABILITIES AND SHAREHOLDERS’ EQUITY

2003

2002

2003

Current liabilities:¥ 117,424¥ 111,251

Short-term bank loans (Note 8)

Trade notes and accounts payable

78,05333,371$976,905
649,359

Current portion of bounds

20,000–166,389

Current portion of convertible bonds

75,692–629,717

Other payables

17,406

21,662

144,809

Accrued expenses

42,02736,327

349,642

Accrued income taxes

14,144

8,611

117,671

Deposits received from employees

19,234

18,548160,017

Deferred tax liabilities (Note 15)

1,192

494

9,917

Other current liabilities (Note 8)

8,193

6,375

68,161

393,365

236,639

3,272,587

200,300

140,300

1,666,389–

75,742–Long-term debt (Notes 7 and 8)

36,57765,941

304,301

Deferred tax liabilities (Note 15)

212,355

315,978

1,766,681

Allowance for retirement benefits (Note 14)

34,10028,840283,694

Other long-term liabilities

10,833

9,293

90,125

Total long-term liabilities

494,165

636,094

4,111,190

Total liabilities

887,530

872,733

7,383,777

Minority interest in consolidated subsidiaries

23,99318,856

199,609

68,04768,022566,115

Capital surplus

89,36589,327

743,469

Retained earnings

269,381

253,975

2,241,106

Total current liabilities
Long-term liabilities:
Bonds
Convertible bondsShareholders’ equity (Note 10):
Common stock:
Authorized — 1,091,245,000 shares
Issued— 313,324,451 shares in 2003 and 313,299,249 shares in 2002

Net unrealized gains on other securities

331,668

456,415

2,759,301

Foreign currency translation adjustments

16,89012,361

140,516

Treasury stock at cost — 20,547,253 shares in 2003 and 503,091 shares in 2002

(36,483)(1,288)(303,519)

738,868

878,812

6,146,988¥1,650,391¥1,770,401$13,730,374

Total shareholders’ equity
Total liabilities and shareholders’ equity

TOYOTA INDUSTRIES CORPORATIONANNUAL REPORT 200351