ANNUAL REPORT 2007
Year ended March 31, 2007

Profile
Toyota Industries Corporation was founded in
1926 to manufacture and sell automatic looms(weaving machines) invented by Sakichi Toyoda.
In the ensuing years, Toyota Industries extended
the scope of its business domains to encompass
textile machinery, automobiles (vehicles, engines, carair-conditioning compressors), materials handlingequipment, electronics and logistics. With production
bases in North America, Europe and Asia, including
Japan, China and India, as well as a worldwide sales
network, mainly in its Materials Handling Equipmentand Textile Machinery segments, the operations ofthe Toyota Industries Group span the globe.

In November 2006, Toyota Industries celebrated the80th anniversary of its founding. Looking ahead, weremain committed to actively undertaking initiatives
aimed at achieving further development and growth.

Definition of Terms“Fiscal 2007” refers to the fiscal year ended 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 “Toyota Industries,” “Toyota Industries Group” or the “Group” herein are to the Company and its 162 consolidated subsidiaries.

Cautionary Statement with Respect to Forward-Looking Statements
This annual report contains projections and other forward-looking statements that involve risks and uncertainties. The use of the words “expect,” “anticipate,” “estimate,” “forecast,” “plan” andsimilar 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 such projections and forward-looking statements are based on management’sassumptions 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 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) pricecompetition, (6) reliance on suppliers of raw materials and components, (7) environmental regulations, (8) success or failure of strategic alliances with other companies, (9) exchange ratefluctuations, (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.