Consolidated Statements of Income
Toyota Industries Corporation
For the six months ended September 30, 2007 and 2006 (unaudited)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income:Interest income
Dividends income
Other non-operating income
Non-operating expenses:
Interest expenses
Other non-operating expenses
Ordinary income
Extraordinary gains:
Proceeds from sales of investment securities
Income before income taxes and minority interests
Income taxes — current
Income taxes — deferred
Minority interests in consolidated subsidiaries
Net incomeMillions of yen

Thousands of
U.S. dollars (Note 1)

For the six months
ended September 30

For the six months
ended September 30

2007

2006

¥955,760
800,912
154,848
107,887
46,960¥913,085
770,487
142,597
102,546
40,051$8,280,002
6,938,509
1,341,493
934,661
406,832

2007

7,351
18,252
5,790

8,539
14,353
6,074

63,690158,130
50,162(9,772)(5,321)
63,260(9,942)(5,595)53,482(84,664)(46,104)
548,046

5,863
69,124
24,112842
3,859¥ 40,309–
53,482
20,661(331)
2,883¥ 30,268

50,794
598,841
208,889
7,301
33,439$ 349,212

The accompanying notes are an integral part of these financial statements.

Consolidated Statements of Changes in Net Assets
Toyota Industries Corporation
For the six months ended September 30, 2007 and 2006 (unaudited)
Millions of yen
Shareholders’ equity
Commonstock

Balance at March 31, 2007
Change during interim accounting period
Surplus dividend
Decrease due to increase in consolidated subsidiaries
Decrease due to decrease in consolidated subsidiaries
Increase due to decrease in affiliates accounted
for under the equity method
Net income
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2007

CapitalsurplusRetainedearnings

Treasury stock
at costTotal shareholders’equity¥80,462¥105,055¥402,431¥(47,253)¥540,696––––––––(8,738)(1,316)(77)
1,121––––(8,738)(1,316)(77)
1,121––––––(67)–

40,309
––––
(41)
1,617
–

40,309
(41)
1,550
––
¥80,462(67)¥104,987

31,298¥433,730

1,575¥(45,677)

32,807¥573,503

Valuation and translation adjustments

Balance at March 31, 2007
Change during interim accounting period
Surplus dividend
Decrease due to increase in consolidated subsidiaries
Decrease due to decrease in consolidated subsidiaries
Increase due to decrease in affiliates accounted
for under the equity method
Net income
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2007

12

TOYOTA INDUSTRIES CORPORATIONNet unrealized
gains or losses onother securities

Deferred gains
or losses onhedgesForeign currencytranslation
adjustments

Total valuationand translation
adjustments

Subscription
rights toshares

Minority interests
in consolidated
subsidiaries

Total net
assets¥1,157,793¥ (0)¥52,912¥1,210,704¥202¥58,878¥1,810,483–––––––––––––––––
–
–
–

–
–––

(8,738)(1,316)
(77)
1,121

–
––
(74,946)

–––
(8)

–––
8,462

–––(66,492)

–––
199

–––
548

40,309(41)
1,550(65,744)(74,946)¥1,082,846

(8)
¥(9)

8,462
¥61,375(66,492)¥1,144,212

199
¥402

548
¥59,427(32,937)¥1,777,545

Thousands of U.S. dollars (Note 1)
Shareholders’ equity

Balance at March 31, 2007
Change during interim accounting period
Surplus dividend
Decrease due to increase in consolidated subsidiaries
Decrease due to decrease in consolidated subsidiaries
Increase due to decrease in affiliates accounted for under the equity method
Net income
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2007

Commonstock

CapitalsurplusRetainedearnings

Treasury stock
at costTotal shareholders’equity$697,069$910,124$3,486,370$(409,367)$4,684,195

–
–
–––––
–

–
–
–
–
––
(585)
–

(75,701)(11,409)
(669)
9,717
349,212
–––––
–
–
–
(364)
14,017–(75,701)(11,409)
(669)
9,717
349,212(364)
13,431––$697,069(585)$909,538

271,150$3,757,520

13,653$(395,714)

284,218$4,968,413
Total net
assetsValuation and translation adjustments
Net unrealized
gains or losses onother securities

Deferred gains
or losses onhedgesForeign currencytranslation
adjustments

Total valuationand translation
adjustments

Subscription
rights toshares

Minority interests
in consolidated
subsidiaries

Balance at March 31, 2007
$10,030,261
Change during interim accounting period
Surplus dividend–
Decrease due to increase in consolidated subsidiaries–Decrease due to decrease in consolidated subsidiaries–
Increase due to decrease in affiliates accounted–
for under the equity method
Net income–
Repurchase of treasury stock–
Exercise of stock options–
Change to items other than shareholders’ equity(649,280)
during interim accounting period
Total change during interim accounting period(649,280)
Balance at September 30, 2007
$9,380,981$ (6)$458,395$10,488,649$1,758$510,081$15,684,683

–
–
––

–
–
–
–

–
–
–
–

–
–
–
–

–
–
–
–

(75,701)(11,409)
(669)
9,717

–––
(76)

–––
73,317–––(576,039)

–––
1,727

–
–
–
4,751

349,212(364)
13,431(569,560)

(76)
$(82)

73,317$531,712(576,039)$9,912,611

1,727$3,4854,751$514,833(285,342)$15,399,341

Treasury stock
at costTotal shareholders’equityMillions of yen
Shareholders’ equity
Commonstock

CapitalsurplusRetainedearnings¥80,462¥105,665¥358,385¥(14,363)¥530,150––––––(6,386)(427)(1,673)–––(6,386)(427)(1,673)––––––(549)–

30,268––––(35,473)
2,432–

30,268(35,473)
1,882––¥80,462(549)¥105,116

21,781¥380,167(33,041)¥(47,405)(11,809)¥518,340

Foreign currencytranslation
adjustments

Total valuationand translation
adjustments

Subscription
rights toshares

Minority interests
in consolidated
subsidiaries–¥33,886¥1,081,077¥ –¥49,270¥1,660,498

–
–
–

–
–
–

–
–
–

–
–
–

–
–
–

–
–
–

(6,386)(427)(1,673)–––(40,860)

–––
(147)

–––
11,965–––(29,042)

–––
50

––
–
5,054

30,268(35,473)
1,882(23,936)(40,860)¥1,006,330(147)¥(147)

11,965¥45,852(29,042)¥1,052,035

50
¥50

5,054
¥54,325(35,746)¥1,624,752

Balance at March 31, 2006
Change during interim accounting period
Surplus dividend
Bonuses to directors and corporate auditors
Decrease due to increase in affiliates accounted
for under the equity method
Net income
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2006

Valuation and translation adjustments

Balance at March 31, 2006
Change during interim accounting period
Surplus dividend
Bonuses to directors and corporate auditors
Decrease due to increase in affiliates accounted
for under the equity method
Net income
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2006

Net unrealized
gains or losses onother securities

Deferred gainsor losses onhedges¥1,047,190¥

Total net
assets

The accompanying notes are an integral part of these financial statements.
SEMIANNUAL REPORT 200813