FY2008
Semi-Annual
Financial Results
November 1, 2007

Ⅰ. Summary

Financial Results (FY2008 1st Half)z Increased in net sales and profits for 8th consecutive year(Billion yen)

FY2007 1st half FY2008 1st half

913.0

Net sales
OperatingincomeOrdinary
incomeNet
income

40.0
53.4
30.2

955.7
46.9
63.2
40.3

ChangeChange(%)

+42.7

+4.7%

(+105.3)(+12.4%)+6.9+17.3%(+8.8)(+23.1%)+9.8+18.3%(+12.5)(+24.5%)+10.1+33.2%(+11.3)(+38.8%)Figures in parentheses show the changes excluding the effects of changes in subsidiaries' fiscal year-end

1 /13

Earnings Forecasts (FY2008)z Increases in net sales and profits expected for 9th consecutive year(Billion yen)

FY2007
Net Sales
OperatingincomeOrdinary
incomeNet
income1,878.3
89.9
108.4
59.4

FY2008 (Forecast)

2,000.0
95.0
120.0
70.0

ChangeChange(%)+121.7+6.5%(+186.4)(+10.3%)

+5.1

+5.6%

(+7.0)(+8.0%)+11.6+10.6%(+14.3)(+13.5%)+10.6+17.7%(+11.8)(+20.3%)Figures in parentheses show the changes excluding the effects of changes in subsidiaries' fiscal year-end

2 /13

Progress of Medium-Term Management Plan
Targets
Targets¥140.0 billion

Progress
Progress ofof thethe 1st
1st andand 2nd
2nd yearyear ¥140.0 billion
108.4

Ordinary Income

Over ¥2 trillion
80.6Over ¥2 trillion¥2,000.0 billion
80.6 1,878.3 1,240 < Priorities in the Past >116.9

Materials
MaterialsHandling
HandlingEquipment
Equipment

1,000.0¥1,505.9

1,505.9
98.9

Machinery,
98.9 Textile
OthersNet Sales

120.0

856.6

660.3 Materials Handling
Equipment-relatedBusiness916.0

・ Integrate management of TOYOTA
and BT brands (TMHG)
・ Augment sales strategy and management

1,000.0Car
CarAir-Conditioning
Air-ConditioningCompressor
Compressor
・ Stronger emphasis on variabledisplacement compressors; reinforce
production structure

660.3

VehicleVehicle1,000.0
Automobile-related
Business

746.7

746.7

904.8

11/3(Target)

06/3

EngineEngine

1,000.0・ Augment structure to enable productionof 500,000 engines
・ Develop clean diesel engines(Announced Oct, 2005)

06/3

960.0

・ Establish structure capable of producing
350,000 vehicles

07/3

08/3(Forecast)

11/3(Target)

3 /13

Aiming for Further Growth¥140.0 billion
Ordinary Income

108.4
80.6

1,878.3

120.0Over ¥2 trillion¥2,000.0billion
124.0

116.9

< Priorities for the Future >Materials
MaterialsHandling
HandlingEquipment
Equipment
・Maximize synergies within TMHG
10,000・Make inroads into new markets (BRICs, VISTA)

1,505.9
98.9

916.0
856.6

Car
CarAir-Conditioning
Air-ConditioningCompressor
Compressor
・Introduce new products tailored to customer
needs
・Respond appropriately to the new refrigerant
VehicleVehicleNet Sales

Materials Handling
Equipment-related
660.3
Business

Automobile-relatedBusiness746.7

904.8

06/3

07/3

960.0

・Expand our role in contributing toTMC’s growth strategy
EngineEngine

10,000・Expand clean diesel engine business
CarCarElectronics
Electronics
・Further contribute to the field of TMC
hybrid vehicles

08/3(Forecast)

11/3(Target)

4 /13

Ⅱ. Financial Results

Financial Results (FY2008 1st Half)z Increased in net sales and profits for 8th consecutive year
(Billion yen)

FY2007 1st half FY2008 1st half

913.0

Net sales
Operatingincome
Ordinaryincome
Net
income

40.0
53.4
30.2

955.7
46.9
63.2
40.3

ChangeChange(%)

+42.7

+4.7%

(+105.3)(+12.4%)+6.9+17.3%(+8.8)(+23.1%)+9.8+18.3%(+12.5)(+24.5%)+10.1+33.2%(+11.3)(+38.8%)Figures in parentheses show the changes excluding the effects of changes in subsidiaries' fiscal year-end

5 /13

Net Sales by Segment

FY2008 1st Half Financial Resultsz Increased in net sales in all segments
Billion yen

431.0

458.9

(+ 51.7）
388.2 377.3

400*Vehicle

300

222.3

Engine

80.1

200

0100

（+ 18.1）

39.8 57.9

Automobile

Materials
Handling
Equipment

Compressor

200100FY07 1H FY08 1H

FY08 1H
955.7

228.2

325.6

3000

( + 42.7)

FY07 1H
913.0(+ 27.9）

500

Logistics

85.0

113.1

128.7

FY07 FY08
1H 1H（+ 3.3）（+ 4.4）27.4 30.7

26.3 30.7

TextileMachinery

Others* Impact of change in subsidiaries’ fiscal year

6 /13

Operating Income by Segment FY2008 1st Half Financial Resultsz Increased in profit in all segments
Billion yen
2522.7(+ 5.1）

201518.8*20.8

FY07 1H
40.0（+ 1.1）

( + 6.9)

FY08 1H
46.9

21.9

13.7

10（+ 0.4）5（+ 1.4）

0.5
0FY07 1H FY08 1HAutomobile

Materials
Handling
Equipment

1.9Logistics（+ 0.8）0.5

1.3

TextileMachinery* Impact of change in subsidiaries’ fiscal year

2.2

2.6Others

7 /13

Change in Ordinary Income FY2008 1st Half Financial Results
z Cost-reduction efforts and sales expansion offset increase indepreciation and labor costYear-on-year Comparison (FY07 1H and FY08 1H)
2.7

3.7

-1.3

-2.7
-3.5
63.2
Expenses and others

Impact of change insubsidiaries’ fiscal year

Raw material cost

Labor costDepreciation

FY07 1H
115yen146yenNon-operating income Increase

Sales volumeIncrease

FY07
1HUSD
EUR

Exchange gain

53.4

Cost reduction

billion yen(YoY + 9.8 billion yen)

-2.7

7.5

9.5

-3.4

FY08 1H→ 119yen→ 162yen

FY08
1H8 /13

Earnings Forecasts (FY2008)z Increases in net sales and profits expected for 9th consecutive year
(Billion yen)

FY2007
Net Sales
OperatingincomeOrdinary
incomeNet
income1,878.3
89.9
108.4
59.4

FY2008 (Forecast)

2,000.0
95.0
120.0
70.0

ChangeChange(%)+121.7+6.5%(+186.4)(+10.3%)

+5.1

+5.6%

(+7.0)(+8.0%)+11.6+10.6%(+14.3)(+13.5%)+10.6+17.7%(+11.8)(+20.3%)Figures in parentheses show the changes excluding the effects of changes in subsidiaries' fiscal year-end

9 /13

Net Sales by Segment

FY2008 Earnings Forecastsz Increase in net sales in all segments expected
Billion yen
1,000

904.8

960.0

（+ 97.5）

Vehicle

600

800.0

800

( + 121.7)

FY07
1878.3(+ 55.2）

767.2

500

*400

702.5

470.2

Engine495.0

Compressor

235.4 258.0

300

600

FY08
2000.0167.4 173.02001000400（+ 26.6）

200

89.4
0

FY07 FY08

FY07 FY08
Automobile

Materials
Handling
Equipment

116.0

Logistics（+ 3.6）（+ 3.7）62.0

58.3 62.0

TextileMachineryOthers

58.4* Impact of change in subsidiaries’ fiscal year

10 /13

Change in Ordinary Income FY2008 Earnings Forecastsz Cost-reduction efforts and sales expansion offset increase indepreciation and labor costYear-on-year Comparison (FY07 and FY08)
7.3

-15.5

17.5

-2.7
-5.5
120.0
Expenses and others

Impact of change insubsidiaries’ fiscal year

Raw material cost

FY07→→Labor cost

Cost reduction

USDEUR

FY07
117yen150yen-4.0
Depreciation

108.4

Sales volume
Increasebillion yen

Non-operating income Increase

20.0(YoY + ¥11.6 billion yen)

-5.5

FY08
115yen159yenFY08(Forecast)

11 /13

Capital Expenditures and Depreciation
Billion yen
140

130.1

120

129.0
Capital Expenditures

111.3

100
80

64.4
49.2

51.2

40

90.0
74.4
Depreciation

60

65.7

200

04/3

05/3

06/3

120.0

08/3(Forecast)

07/4

Breakdown of Capital Expenditures

Billion yen
50

45.5

43.6

41.2

42.0

4030

27.0
21.0

25.7

26.430.0

5.5 4.4 8.510023.2

18.5 16.6

2006/3 07/3 08/3（Forecast）
Compressor

Vehicle/ EngineMaterials
Handling
Equipment

Foundry/
Electronics

Others12 /13Cash Dividends
z Dividend: 56 yen per share (YoY change: 6 yen up)
56 yen50
28 Year-end
28

32
20

24
1912121304/305/3

1806/32207/3

Cash dividends per share

38

28

Interim

08/3(Forecast)

13 /13

Cautionary Statement with Respect
to Forward-Looking Statements
This presentation contains projections of business results as well as statements
regarding business plans, forecasts, strategies, and other forward-looking statementsthat are not to be taken as historical fact. Projections and forward-looking statements are
based on the current expectations and estimates of Toyota Industries and its Groupcompanies. All such projections and forward-looking statements are based on
management’s assumptions and beliefs derived from the information available to it at thetime of producing this report and are not guarantees of future performance. You should
also be aware that certain risks and uncertainties could cause the actual results of Toyota
Industries and its Group companies to differ materially from any projections or forwardlooking statements appearing in this report. These risks and uncertainties include, but are
not limited to, the following: 1) economic trends, 2) various competitive pressures,3) changes in relevant laws and regulations, and 4) fluctuations in exchange rates.