FINANCIAL SUMMARY
FY2007First Quarter(April 1, 2006 through June 30, 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. Our 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 appearing in this report. These risks and uncertainties include, but are not limited to,the following : 1) economic trends, 2) principal customers, 3) product development capabilities, 4) new businesses, 5) productdefects, 6) price competition 7) reliance on suppliers of raw materials and components, 8) alliances with other companies, 9)exchange rate fluctuations, 10) effects of disasters, power blackouts and other incidents, 11) latent risks associated withinternational activities, 12) official restriction, 13) share price fluctuations and 14) retirement benefit liabilities.

July 27, 2006

Consolidated Financial Results for FY2007 First Quarter (April 1, 2006 - June 30, 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 First Quarter (April 1, 2006 - June 30, 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

FY2007First Quarter
FY2006First Quarter
FY2006%

Million yen

Million yen%

471,679

(

38.6

)

22,668(36.9)

37,182(41.2)

340,283

(

14.1

)

16,559(4.3)

26,340(8.9)

1,505,955

64,040Million yen

80,635

Net income pershare－basic

change fromyear )( %previous

Net income
FY2007First Quarter
FY2006First Quarter
FY2006%%

Net income pershare－diluted
Yen

Yen

22,289

(

34.5

)

70.38

70.25

16,566

(

7.4

)

52.00

51.95

146.16146.0247,077(2) Consolidated financial position
Total assets

Total net assets

Million yen

Equity ratio

Million yen

Equity per share%Yen

FY2007 First Quarter
FY2006 First Quarter

3,089,587
2,322,096

1,523,595
1,116,602

47.6
48.1

4,728.56
3,504.60

FY2006

3,245,341

1,611,227

49.6

5,044.45(3) Scope of consolidation and equity method
Consolidated subsidiaries: 156 companies
Unconsolidated subsidiaries accounted for under the equity method: 0 company
Affiliates accounted for under the equity method: 23 companies(4) Changes in scope of consolidation and equity method
Consolidated subsidiaries: (increase) 4 companies, (decrease) 1 company
Equity method: (increase) 1 company, (decrease) 0 company

2. Forecasts of Consolidated Financial Results for FY2007 (April 1, 2006 - March 31, 2007)
Net sales

Operating income
Million yen

FY2007 Semi-annual
FY2007

Million yen

Ordinary income
Million yen

Net income
Million yen

840,000

33,00042,00025,0001,670,000

68,00085,00049,000

Reference: (Forecast) Net income per share - basic (annual): 157.39 yen* Figures for fiscal 2007 have not been revised from those previously announced on April 27, 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 first quarter of fiscal 2007 (the three months from April 1 to June 30, 2006), total
consolidated net sales of Toyota Industries amounted to 471.6 billion yen, an increase of 131.4 billion yen,or 39%, over the same period of the previous fiscal year. The following is a review of operations for the
major business segments.
Net sales of the Automobile Segment totaled 206.4 billion yen, an increase of 39.4 billion yen, or 24%,over the same period. Within this segment, net sales of the Vehicle Business amounted to 109.5 billion
yen, an increase of 32.4 billion yen, or 42%. This increase was due mainly to strong sales of the RAV4,
which was reintroduced into the market in November 2005 after a full model change. Net sales of theEngine Business totaled 36.8 billion yen, an increase of 6.3 billion yen, or 21%, attributable largely to anincrease in sales of AD and KD diesel engines. Net sales of the Car Air-Conditioning Compressor
Business totaled 52.6 billion yen, an increase of 0.4 billion yen, or 1%, as a result of solid sales in North
America and Europe.
Net sales of the Materials Handling Equipment Segment totaled 221.5 billion yen, an increase of 86.2
billion yen, or 64%. Vigorous sales activities resulted in strong sales of TOYOTA- and BT-brand products.
A change in the fiscal year of subsidiaries also contributed to the increase.
Net sales of the Logistics Segment amounted to 18.0 billion yen, an increase of 3.3 billion yen, or 22%,
as a result of steady development in the Transportation and Logistics Solutions businesses.
Net sales of the Textile Machinery Segment totaled 13.2 billion yen, an increase of 1.7 billion yen, or
14%, owing mainly to an increase in sales of air-jet looms primarily to China and solid sales of spinningmachinery.
In terms of profit, Toyota Industries’ ordinary income amounted to 37.1 billion yen, an increase of 10.8
billion yen, or 41%. Although the price of raw materials and the expenses for personnel, depreciation andothers increased, ordinary income rose as a result of an increase in sales in Japan and overseas,enhanced Group-wide cost-reduction efforts and an increase in dividends income. Net income amounted
to 22.2 billion yen, an increase of 5.7 billion yen, or 35%.
For fiscal 2007, ending March 31, 2007, Toyota Industries forecasts consolidated net sales of 1,670.0
billion yen, operating income of 68.0 billion yen, ordinary income of 85.0 billion yen and net income of
49.0 billion yen.

Breakdown of Consolidated Net Sales(Million yen)

FY2007 First Quarter
AmountComponent
ratio

77,111

7.8

30,51552,611

11.2

7,390

Subtotal% changeAmountComponent
ratio

32,454372,092

%
24.7

9.0

6,342

20.8

132,382

8.8

52,272

15.4

339

0.6

215,983

14.3

1.6

7,109

2.1

281

4.0

26,337

1.8

206,42443.8

167,008

49.1

39,41623.6

746,795

49.6

Materials handlingequipment

221,59347.0

135,38539.8

86,20863.7

595,236

39.5

Logistics

18,011

3.8

14,782

4.3

3,229

21.8

65,145

4.3

Textile machinery

13,216

2.8

11,594

3.4

1,622

14.0

49,789

3.3

Others12,433

2.6

11,513

3.4

920

8.0

48,988

3.3

Total

471,679

100.0

340,283

100.0

131,396

38.6

1,505,955

100.0

Car air-conditioning
compressor
Foundry, Electronics
parts and others

36,857

AmountIncrease(Decrease)

FY2006%
42.1

Engine109,565

Component
ratio

%
22.6

Automobile
Vehicle%23.2

FY2006 First Quarter-1-Consolidated Balance Sheets
FY2007 First Quarter(As of June 30, 2006)

FY2006(As of March 31, 2006)

Increase(Decrease)

FY2006 First Quarter(As of June 30, 2005)

513,895

509,266

4,629

455,00299,74094,474

5,266

87,409193,610200,690(7,080)166,80935,00845,002(9,994)30,058111,938

104,534

7,404

100,989

Deferred tax assets

20,61718,096

2,521

18,786

Other current assets

55,667

49,1336,534

53,267Less－allowance for doubtful
accounts(2,689)(2,665)(24)(2,320)2,575,692

2,736,074(160,382)

1,867,094

Property, plant and equipment563,225

526,154

37,071

473,590

Buildings and structures

169,334

155,168

14,166

138,050

Machinery, equipment andvehicles248,597

240,4678,130

189,128

Tools, furniture and fixtures

22,33722,31027

19,563

Land

90,532

87,213

3,319

78,728Construction in progress

32,42320,994

11,42948,119112,391

109,968

2,423

113,842

Software

12,045

12,483(438)

13,004

Goodwill

100,345

97,4852,860

100,837

Investments and other assets

1,900,074

2,099,951(199,877)

1,279,661

Investments in securities

1,830,359

2,031,863(201,504)

1,213,773

8,436

8,591

(155)

9,368

11,27011,358(88)

12,288

8,668

6,842

1,826

6,597

41,56541,532

33

37,921

(226)

(237)

11

(288)

3,089,587

3,245,341(155,754)

2,322,096

AssetsCurrent assets
Cash and deposits
Trade notes and accounts
receivable
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)

FY2007 First Quarter(As of June 30, 2006)

FY2006(As of March 31, 2006)

Increase(Decrease)

FY2006 First Quarter(As of June 30, 2005)

479,036

446,118

32,918423,816

186,502

182,595

3,907

157,008

Short-term bank loans

46,83538,928

7,907

32,704

Commercial paper

31,62029,6801,940

25,400Current portion of bonds

15,00015,000-20,300

Other payables

35,49830,6204,878

44,610Accrued expenses

77,247

67,674

9,573

68,857

Accrued income taxes

14,243

13,625618

9,644

Deposits received from
employees

19,12020,914(1,794)

18,345

Deferred tax liabilities

3,474

3,857

(383)

3,833

Other current liabilities

49,492

43,221

6,271

43,111Long-term liabilities

1,086,955

1,138,724(51,769)

740,537

Bonds

284,303

283,831472

230,000

Long-term debt

135,295

106,267

29,02871,033

Deferred tax liabilities

601,005

681,503(80,498)377,342

Allowance for retirement benefits

43,816

46,535(2,719)44,200

Other long-term liabilities

22,535

20,585

1,950

17,960Total liabilities

1,565,992

1,584,842(18,850)

1,164,353-

49,270(49,270)

41,140Shareholders’ equity

508,711530,150(21,439)505,767

Common stock

80,46280,462-80,462

Capital surplus

105,664

105,665(1)

105,757

Retained earnings

372,379

358,385

13,994335,454

Treasury stock at cost

(49,794)(14,363)(35,431)(15,906)

963,419

1,081,077(117,658)

610,834

923,532

1,047,190(123,658)

583,279

(115)

-

(115)

-

40,00333,886

6,117

27,55551,463-51,463-

Total net assets

1,523,595

1,611,227(87,632)

1,116,602

Total liabilities andnet assets

3,089,587

3,245,341(155,754)

2,322,096

Liabilities
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
Minority interest inconsolidated subsidiaries-3-Consolidated Statements of Income(Million yen)

FY2007 First Quarter(As of June 30, 2006)

FY2006 First Quarter(As of June 30, 2005)

Net sales

471,679

340,283

131,396

1,505,955

Cost of sales

391,646284,293

107,353

1,276,499

Gross profit

80,032

55,99024,042

229,456

Selling, general andadministrative expenses

57,36439,43017,934

165,416

Operating income

22,66816,5596,109

64,040Non-operating income

22,31915,0947,225

43,854

Interest income

5,320

2,133

3,187

9,113

Dividends income

14,091

10,475

3,616

20,090

Other non-operating income

2,907

2,485

422

14,649Non-operating expenses

7,806

5,313

2,493

27,259Interest expenses

5,613

2,646

2,967

11,955

Other non-operating expenses

2,192

2,666

(474)

15,303

Ordinary income

37,182

26,34010,84280,635

Income before income
taxes

37,182

26,34010,84280,635

Income taxes

13,544

9,001

4,543

28,308

1,348

773

575

5,249

22,28916,566

5,723

47,077

Minority interest inconsolidated subsidiaries
Net income-4-

Increase(Decrease)

FY2006(As of March 31, 2006)

Segment Information
1.Business segment information(1)FY2007 First Quarter (April 1, 2006 - June 30, 2006)(Million yen)

Automobile

Materials
handling
equipment

Logistics

Textilemachinery

OthersTotal

Eliminations Consolidated(1) Outside customer sales

206,424

221,593

18,011

13,216

12,433471,679-

471,679(2) Intersegment transactions

5,164

217

1,694

0

5,604

12,682(12,682)-

Total

211,588

221,811

19,705

13,217

18,038484,361(12,682)471,679

Operating expenses

204,014208,223

19,49013,187

16,853

461,770(12,759)

449,010

Operating income

7,574

13,587

215

30

1,184

22,591

77

22,668Net sales

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 ………………Ring spinning frames, air jet looms, water jet looms
Others ……………………………Semiconductor package substrates(2)FY2006 First Quarter (April 1, 2005 - June 30, 2005)(Million yen)

Automobile

Materials
handling
equipment

Logistics

Textilemachinery

OthersTotal

Eliminations Consolidated(1) Outside customer sales

167,008

135,385

14,782

11,594

11,513

340,283-

340,283(2) Intersegment transactions

5,152

52

1,380

5

5,292

11,884(11,884)-

Total

172,160

135,437

16,163

11,59916,806352,167(11,884)

340,283

Operating expenses

164,820

127,339

16,015

11,454

15,955335,584(11,860)

323,723

Operating income

7,340

8,098

148

144

850

16,582(23)

16,559Net sales(3)FY2006 (April 1, 2005 - March 31, 2006)(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 First Quarter (April 1, 2006 - June 30, 2006)
Japan(Million yen)North
America

EuropeOthersTotal

Eliminations Consolidated

Net sales(1) Outside customer sales

273,061

88,992

99,652

9,973

471,679-

471,679(2) Intersegment transactions
Total

36,039

459

2,299

1,156

39,954(39,954)-309,100

89,451

101,952

11,129511,634(39,954)471,679

Operating expenses

292,808

86,62999,10810,447

488,993(39,982)

449,010

Operating income

16,291

2,822

2,844

682

22,64028

22,668(2) FY2006 First Quarter (April 1, 2005 - June 30, 2005)
Japan(Million yen)North
America

EuropeOthersTotal

Eliminations Consolidated

Net sales(1) Outside customer sales

222,841

59,41350,955

7,072

340,283-

340,283(2) Intersegment transactions
Total

26,369

294

1,479

824

28,967(28,967)-

249,21159,70852,434

7,897

369,250(28,967)

340,283

Operating expenses

236,441

57,63250,955

7,599

352,629(28,905)

323,723

Operating income

12,769

2,075

1,478

297

16,621(61)

16,559(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 First Quarter (April 1, 2006 - June 30, 2006)(Million yen)

North America

EuropeOthersTotal

85,228106,215

34,855226,299

Overseas sales
Consolidated sales

471,679

Ratio of overseas sales to consolidated sales

18.1%

22.5%

7.4%

(2) FY2006 First Quarter (April 1, 2005 - June 30, 2005)

Overseas sales(Million yen)

North America

EuropeOthersTotal

58,95559,08627,998146,039

Consolidated sales
Ratio of overseas sales to consolidated sales

340,283
17.3%

17.4%

8.2%

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

Overseas sales

42.9%(Million yen)

North America

EuropeOthersTotal

247,957

249,237

123,751

620,946

Consolidated sales
Ratio of overseas sales to consolidated sales

48.0%

1,505,955
16.5%

-7-

16.5%

8.2%

41.2%

July 27, 2006
TOYOTA INDUSTRIES CORPORATIONFINANCIAL SUMMARY for FY2007 First Quarter (April 1, 2006 - June 30, 2006)
1. Consolidated financial results(Billion yen,%)

FY2007 1st Quarter FY2006 1st Quarter
April 06 - June 06

Net sales
Operating income
Ordinary income
Net income

471.6
22.6
37.1
22.2
115
144
3,089.5
1,523.5
47.6%
32.2
7.2
17.5

100.0%
4.8%
7.9%
4.7%

\/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

April 05 - June 05
100.0%
4.9%
7.7%
4.9%

340.2
16.5
26.3
16.5
108
136
2,322.0
1,116.6
48.1%
29.4
2.7
13.1

ChangeAmount

FY2007 Forecast
April 06 - March 07

%

131.4
6.1
10.8
5.7
7
8
767.5
406.9

38.6

100.0%

36.9

4.1%

41.2

5.1%

34.5

2.9%

2.8
4.5
4.4

9.4

33.1
36.4

162.8
33.3

148 companies 8 companies
21 companies 2 companies

156 companies
23 companies

1,670.0
68.0
85.0
49.0
115
140
−
−
−
120.0
26.0
74.0
−
−

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 June 2006. Excluding the effects of changes in fiscal year (Jan. - Mar.), net sales amounted to410.1 billion yen (up 69.9 billion yen, or 20.5%), operating income totaled 20.8 billion yen (up 4.3 billion yen, or 25.6%), ordinary income was 34.5 billion yen (up 8.2 billion yen, or
31.1%) and net income totaled 21.0 billion yen (up 4.5 billion yen, or 27.3%).

2. Breakdown of consolidated net sales
FY2007 1st Quarter FY2006 1st Quarter
VehicleEngineCar air-conditioning compressor
Foundry, electronics and other
Automobile total
Materials handling equipment ※Logistics
Textile machinery
Others
Total

109.5
36.8
52.6
7.3
206.4
221.5
18.0
13.2
12.4
471.6

23.2%
7.8%
11.2%
1.6%
43.8%
47.0%
3.8%
2.8%
2.6%
100.0%

22.6%
9.0%
15.4%
2.1%
49.1%
39.8%
4.3%
3.4%
3.4%
100.0%

77.1
30.5
52.2
7.1
167.0
135.3
14.7
11.5
11.5
340.2

Change
32.4
6.3
0.4
0.2
39.4
86.2
3.3
1.7
0.9
131.4

FY2007 Forecast

%

42.1

23.9%

20.8

8.8%

0.6

13.5%

4.0

2.0%

23.6

48.2%

63.7

41.0%

21.8

4.8%

14.0

3.0%

8.0

3.0%

38.6

100.0%

400.0
147.0
225.0
33.0
805.0
685.0
80.0
50.0
50.0
1,670.0※ Excluding the effects of changes in subsidiaries' fiscal year, net sales of the Materials Handling Equipment Segment was 160 billion yen (up 24.7 billion yen, or 18.2%)

3. Unit sales(Thousand Units)

FY2007
FY2006
Change1st Quarter 1st Quarter

FY2007Vitz (Yaris)

46

45

1

171

RAV4

37

19

18

139

Vehicle

83

64

19

310

Engine

106

82

24

473

28

36

(8)

101

5,060

4,730

330

20,000

70

46

24

215

CKD
Car air-conditioning
compressor
Materials handlingequipment ※※ Excluding the effects of changes in subsidiaries' fiscal year, units sales amounted to 48
thousand units. (up 2 thousand units)

English translation from the original Japanese-language document

4. Changes in ordinary income(Billion yen)

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

7.5
5.2
1.8
1.4
4.7

Increase total
Depreciation
Raw material cost
Labor cost
Expenses and others

20.6
4.4
2.7
1.5
1.2

Decrease total

9.8

Total increase in ordinary income

10.8