FINANCIAL SUMMARY
FY2006 Third Quarter
Financial Results for the Nine Months
Ended December 31, 2005

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.

February 2, 2006

Consolidated Financial Results for the Nine Months Ended December 31, 2005
TOYOTA INDUSTRIES CORPORATION
Stock exchange listings: Tokyo, Osaka and Nagoya (Ticker code: 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 the Nine Months Ended December 31, 2005
(1) Consolidated financial results(Amounts less than one million yen are omitted.)

Net saleschange from% change from% change from
Ordinary income ( previous year )year ) Operating income ( previous year )( %previous

Nine months ended
December 31,2005
Nine months ended
December 31,2004
FY2005

Million yen

Million yen%

Million yen%

1,071,837

(

18.8

)

46,832(11.0)

65,100(9.2)

902,330(

5.2)

42,182(

5.3)

59,601(22.6)

1,241,538
Net income

Nine months ended
December 31,2005
Nine months ended
December 31,2004
FY2005%53,120% change fromprevious year(

Million yen

70,912

Net income pershare－basic)

Net income per
Share－diluted

%

Yen

Yen

40,228(9.2)

126.08125.9936,840(29.2)

115.84115.79135.09135.0343,357(2) Consolidated financial position
Total assets

Shareholders’ equity
Million yen

Nine months ended
December 31,2005
Nine months ended
December 31,2004
FY2005

Ratio of
Shareholders’ equity

Million yen

Shareholders’ equity
per share%Yen

3,063,815

1,524,174

49.7

4,773.40

2,222,638

1,121,970

50.5

3,525.53

2,326,824

1,115,747

48.0

3,504.80(3) Scope of consolidation and equity method
Consolidated subsidiaries: 151 companies
Unconsolidated subsidiaries accounted for under the equity method: 0 companies
Affiliates accounted for under the equity method: 21 companies(4) Changes in scope of consolidation and equity method
Consolidated subsidiaries: (increase) 6 companies, (decrease) 1 company
Affiliates accounted for under the equity method: (increase) 1 company, (decrease) 0 companies

2. Forecasts of Consolidated Financial Results for FY2006 (April 1, 2005 - March 31, 2006)
Net sales

Ordinary income
Million yen

FY20061,500,000

Net income
Million yen

77,000Million yen

45,000

Reference: (Forecast) Net income per share - basic (annual): 140.93 yen* Figures for fiscal 2006 have not been revised from those previously announced on October 28, 2005.
* 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
As of the third quarter of fiscal 2006 (the nine months from April 1 to December 31, 2005), total
consolidated net sales of Toyota Industries amounted to 1,071.8 billion yen, an increase of 169.5 billion
yen, or 19%, compared with year-on-year results for the same period in fiscal 2005 (“previous period”).
The following is a review of operations for the major business segments.
Net sales of the Automobile Segment totaled 524.4 billion yen, an increase of 78.1 billion yen, or 18%,
over the previous period. Within this segment, net sales of the Vehicle Business amounted to 248.7 billion
yen, an increase of 50.8 billion yen, or 26%, over the previous period, due to continued brisk sales of theVitz (Yaris in Europe) as well as higher sales of the fully redesigned RAV4, which was launched in
November 2005. Net sales of the Engine Business totaled 98.0 billion yen, an increase of 13.6 billion yen,or 16%, over the previous period. This increase was attributable to the contributions made by sales of KD
diesel engines for the Innovative International Multi-Purpose Vehicle (IMV) series that we began
producing in June 2005 as well as sales of AD diesel engines mounted on the RAV4 for Europe and othervehicles. Net sales of the Car Air-Conditioning Compressor Business totaled 157.6 billion yen, an
increase of 11.8 billion yen, or 8%, over the previous period. This increase reflected robust sales in North
America and Europe, which compensated for flat sales in Japan.
Net sales of the Materials Handling Equipment Segment totaled 427.4 billion yen, an increase of 61.3
billion yen, or 17%, over the previous period. Toyota Industries undertook proactive sales expansion
activities and strengthened its sales network amid robust domestic and overseas markets.
Net sales of the Logistics Segment amounted to 47.6 billion yen, a sharp increase over the previous
period, due mainly to the contribution made by Asahi Security Co., Ltd. In working to build this segment
into a future pillar of growth, we focused on developing the logistics solutions business while carrying out
aggressive sales promotion activities.
Net sales of the Textile Machinery Segment amounted to 35.9 billion yen, an increase of 3.4 billion yen,or 11%, over the previous period, fueled by an expansion in new orders for air-jet looms in China, ourmain market.
During this period, Toyota Industries’ ordinary income amounted to 65.1 billion yen, an increase of 5.5
billion yen, or 9%, over the previous period. Despite increases in raw materials prices and depreciationand personnel expenses, the rise in ordinary income resulted from growth in domestic and overseas
sales in addition to the promotion of Group-wide cost-reduction activities and an increase in
non-operating income.
For fiscal 2006, ending March 31, 2006, Toyota Industries forecasts consolidated net sales of 1,500.0
billion yen, ordinary income of 77.0 billion yen and net income of 45.0 billion yen. These forecasts remainunchanged from projections announced as of September 2005.

-1-

Breakdown of Consolidated Net Sales(Million yen; amounts less than one million yen are omitted.)(

FY2006

FY2005

April 1, 2005 December 31, 2005

April 1, 2004 December 31, 2004

Amount)Ratio% Change

Ratio(

Amount197,9219.1

84,417

157,658

14.7

19,970Subtotal)

Ratio

50,839278,841

%
22.5

9.4

13,64516.2

113,295

9.1

145,871

16.2

11,787

8.1

197,98415.9

1.9

18,108

2.0

1,862

10.3

26,0792.1

524,45248.9

446,31749.5

78,13517.5

616,200

49.6

Materials handlingequipment

427,43339.9

366,124

40.6

61,30916.7

503,989

40.6

Textile machinery

47,616

4.4--

47,616---

Logistics

35,931

3.4

32,523

3.6

3,408

10.5

43,902

3.5

Others36,402

3.4

57,364

6.3(20,962)(36.5)

77,446

6.3

1,071,837

100.0

902,330

100.0

169,50718.8

1,241,538

100.0

Car air-conditioning
compressor
Foundry, Electronics
parts and others

Total

98,062

FY2005
April 1, 2004 –March 31, 2005%
25.7

Engine248,760

Amount)%21.9

Automobile
Vehicle%23.2(

Increase(Decrease)

Notes The logistics-related business, which was included in the Others Segment until the previous fiscal year, has been separated and declared
independently as the Logistics Segment starting from this fiscal year (FY 2006). Sales of the Logistics Segment for the nine months ended
December 31, 2004 and FY 2005 annual were 24,498 million yen and 33,306 million yen, respectively.

-2-

Consolidated Balance Sheets
FY2005

FY2006As of
As of( December
31, 2005 ) ( March 31, 2005 )FY2005

Increase(Decrease)

As of( December
31, 2004 )(Assets)
498,509462,973

35,536

385,524

Cash and deposits

106,242

84,91521,32756,573

Trade notes and accounts receivable

174,981

173,459

1,522

147,162

50,00040,056

9,944

30,066103,104

94,024

9,080

91,510

Deferred tax assets

13,49020,379(6,889)16,739Other current assets
Less - allowance for doubtful
accounts

53,06452,491573

45,865(2,374)(2,351)(23)(2,392)2,565,306

1,863,850

701,456

1,837,114

Property, plant and equipment

512,507457,078

55,429422,519

Buildings and structures

148,335

132,419

15,916

128,808

Machinery, equipment and vehicles

235,155

185,424

49,731

171,619

Tools, furniture and fixtures

23,01818,833

4,185

15,763

Land

83,191

78,6584,533

75,173

Construction in progress

22,806

41,742(18,936)

31,152

109,103

116,971(7,868)98,217

Software12,511

12,410101

11,800Goodwill

96,592

104,561(7,969)86,416

1,943,695

1,289,799

653,896

1,316,377

1,876,302

1,222,658

653,644

1,250,071

8,693

9,804

(1,111)

9,628

11,567

13,218(1,651)

13,874

6,412

7,234

(822)

5,802

40,957

37,214

3,743

37,267

(238)

(330)

92

(266)

3,063,815

2,326,824

736,991

2,222,638

Current assets

Marketable securities
Inventories

Fixed assets

Intangible assets

Investments and other assets
Investments in securities
Long-term loans
Long-term prepaid expenses
Deferred tax assets
Other investments and other assets
Less - allowance for doubtful
accounts
Total assets-3-

(Million yen; amounts less than one million yen are omitted.)(

FY2006

FY2005

As ofDecember 31, 2005

As ofMarch 31, 2005

) ()

FY2005

Increase(Decrease)

As of( December
31, 2004 )(Liabilities)
417,017421,539(4,522)354,175

163,906

160,231

3,675

136,561

Short-term loans

41,39559,945(18,550)

73,724

Commercial paper

29,200-29,200-Current portion of bonds

15,00020,300(5,300)20,300

Other payables

26,78845,461(18,673)

26,476

Accrued expenses

60,771

59,356

1,415

50,723

Accrued income taxes

8,175

15,297(7,122)

7,478

22,911

20,054

2,857

21,736

Deferred tax liabilities

3,807

4,066

(259)

3,515

Other current liabilities

45,06036,826

8,234

13,659Long-term liabilities

1,075,476

748,633

326,843

707,271

Bonds

270,388

230,000

40,388180,000

Long-term loans

108,627

73,49135,13670,966

Deferred tax liabilities

630,835

381,787

249,048394,929

Allowance for retirement benefits

45,13944,462677

42,362Other long-term liabilities

20,48418,891

1,593

19,013

Total liabilities

1,492,494

1,170,172

322,322

1,061,447

47,14640,904

6,242

39,220Common stock

80,46280,462-80,462

Capital surplus

105,668

105,600

68

105,587

Retained earnings
Net unrealized gain onother securities
Translation adjustments

351,537

325,330

26,207

318,813970,554591,218

379,336

608,456

30,34029,861479

25,365

Treasury stock at cost

(14,387)(16,726)

2,339(16,713)

Total shareholders’ equity

1,524,174

1,115,747

408,427

1,121,970

Total liabilities andshareholders’ equity

3,063,815

2,326,824

736,991

2,222,638

Current liabilities
Trade notes and accounts payable

Deposits received from employees

Minority interest inconsolidated subsidiaries(Shareholders’ equity)-4-Consolidated Statements of Income(Million yen; amounts less than one million yen are omitted.)

FY2006

FY2005

April 1, 2005 April 1, 2004 ( December
31, 2005 ) ( December 31, 2004 )Increase(Decrease)

FY2005
April 1, 2004 ( March
31, 2005 )Net sales

1,071,837

902,330

169,5071,241,538

Cost of sales

903,657

752,724

150,933

1,041,780

Gross profit

168,179

149,605

18,574

199,758

Selling, general andadministrative expenses

121,347

107,423

13,924

146,638

Operating income

46,832

42,182

4,650

53,120Non-operating income

35,856

31,932

3,924

38,284

Interest income

6,626

5,990

636

8,159

Dividends income

20,036

13,644

6,392

13,760

Other non-operating income

9,193

12,297(3,104)

16,363Non-operating expenses

17,58814,512

3,076

20,491

Interest expenses

8,151

7,055

1,096

9,735

Other non-operating expenses

9,437

7,457

1,980

10,756

65,10059,601

5,499

70,912

-

414

(414)

558

-

414

(414)

558

Income before income taxes
and minority interest inconsolidated subsidiaries

65,10059,187

5,913

70,353

Income taxes

21,28419,005

2,279

22,251

3,587

3,341

246

4,744

40,22836,8403,388

43,357

Ordinary income
Extraordinary losses
Impairment loss of fixed assets

Minority interest inconsolidated subsidiaries
Net income-5-Segment Information
1.Business segment information(1)Nine months ended December 31, 2005

(Million yen; amounts less than one million yen are omitted.)

Automobile

Materials
handling
equipment

Logistics

Textilemachinery

OthersTotal

Eliminations Consolidated(1) Outside customer sales

524,452

427,433

47,61635,931

36,402

1,071,837-

1,071,837(2) Intersegment transactions

15,412

314

4,385

15

14,77534,903(34,903)-

Total

539,865

427,748

52,00135,94751,1781,106,740(34,903) 1,071,837

Operating expenses

525,294

399,094

51,21336,01948,246

1,059,868(34,863) 1,025,005

Operating income

14,571

28,653

787

(72)

2,932

46,871

Net sales(39)

46,832

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
Materials handling equipment ...Counterbalanced forklifts, warehouse equipment, automated storage and retrieval system, truck mountaerial 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 ……………………………Ball grid array-type plastic package substrates for IC chipsets
3. Changes in business segment
The logistics-related business, which was included in the Others Segment until the previous fiscal year, has been separated and declared
independently as the Logistics Segment starting from this fiscal year (FY 2006). Sales and operating loss of the Logistics Segment for thenine months ended December 31, 2004 were 27,682 million yen and 273 million yen, respectively. For FY2005 annual, the segment
recorded sales of 37,913 million yen and an operating loss of 650 million yen.

(2)Nine months ended December 31, 2004

(Million yen; amounts less than one million yen are omitted.)

Automobile

Materials
handling
equipment

Textilemachinery(1) Outside customer sales

446,317366,124

32,523(2) Intersegment transactions

13,45074

Total

459,768

Operating expenses
Operating income

Total

Eliminations Consolidated

57,364902,330-

902,330

15

14,89628,438(28,438)-

366,199

32,53972,261

930,768(28,438)

902,330

441,209346,538

33,00867,869888,626(28,477)

860,148

18,55819,660

(469)

4,392

42,14239

42,182Others

Net sales(3)FY2005 (April 1, 2004 - March 31, 2005)(Million yen; amounts less than one million yen are omitted.)

Automobile

Materials
handling
equipment

Textilemachinery(1) Outside customer sales

616,200

503,989

43,902(2) Intersegment transactions

18,222

148

Total

634,422

Operating expenses
Operating income

Total

Eliminations Consolidated

77,446

1,241,538-

1,241,538

24

21,57939,975(39,975)-

504,138

43,92799,025

1,281,514(39,975)

1,241,538

611,659

478,053

44,69893,782

1,228,193(39,775)

1,188,418

22,76326,084

(771)

5,243

53,320(200)

53,120

Others

Net sales-6-2.Geographical segment information(1)Nine months ended December 31, 2005

(Million yen; amounts less than one million yen are omitted.)

Japan

North
America

Europe(1) Outside customer sales

715,270

176,299

155,401(2) Intersegment transactions
Total

83,653

1,499

798,923

Operating expenses
Operating income

Total

Eliminations Consolidated

24,865

1,071,837-

1,071,837

4,084

2,691

91,928(91,928)-

177,798

159,486

27,557

1,163,765(91,928)

1,071,837

760,830

172,741

155,695

26,593

1,115,861(90,856)

1,025,005

38,092

5,057

3,790

963

47,904(1,072)

46,832Others

Net sales(2 Nine months ended December 31, 2004

(Million yen; amounts less than one million yen are omitted.)

Japan

North
America

Europe(1) Outside customer sales

588,427

157,733

136,677(2) Intersegment transactions
Total

74,991

724

663,418

Operating expenses
Operating income

Total

Eliminations Consolidated

19,492

902,330-

902,330

5,430

2,075

83,221(83,221)-

158,457

142,108

21,567985,552(83,221)902,330

628,990

153,601

138,488

21,128942,208(82,060)

860,148

34,428

4,856

3,620

438

43,343(1,161)

42,182Others

Net sales(3) FY2005 (April 1, 2004 - March 31, 2005)(Million yen; amounts less than one million yen are omitted.)

Japan

North
America

Europe(1) Outside customer sales

815,039

212,253

188,668(2) Intersegment transactions
Total

99,464

1,125

7,221

2,776

110,588(110,588)-

914,503

213,379

195,890

28,352

1,352,126(110,588)

1,241,538

Operating expenses

870,928207,068

191,20227,712

1,296,911(108,493)

1,188,418

Operating income

43,575

6,311

4,688

639

55,214(2,094)

53,120

OthersTotal

Eliminations Consolidated

1,241,538-

Net sales-7-

25,576

1,241,538

3.Overseas sales(1)Nine months ended December 31, 2005

Overseas sales(Million yen; amounts less than one million yen are omitted.)

North America

EuropeOthersTotal

176,955

179,868

89,217446,041

Consolidated sales
Ratio of overseas sales to consolidated sales

1,071,837
16.5%(2) Nine months ended December 31, 2004

Overseas sales

16.8%

8.3%

(Million yen; amounts less than one million yen are omitted.)

North America

EuropeOthersTotal

154,621

164,934

77,045

396,600

Consolidated sales
Ratio of overseas sales to consolidated sales

902,330
17.1%(3) FY2005 (April 1, 2004 - March 31, 2005)

Overseas sales

18.3%

8.6%

44.0%

(Million yen; amounts less than one million yen are omitted.)

North America

EuropeOthersTotal

208,675

225,409104,917539,002

Consolidated sales
Ratio of overseas sales to consolidated sales

41.6%

1,241,538
16.8%

-8-

18.2%

8.4%

43.4%