FINANCIAL SUMMARY
FY2009 Third Quarter(Nine Months Result from April 1, 2008 to December 31, 2008)

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 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) price competition, 6) reliance on suppliers of raw materials and components, 7) environmental
regulations, 8) success or failure of strategic alliances with other companies, 9) exchange rate fluctuations, 10) share pricefluctuations, 11) effects of disasters, power blackouts and other incidents, 12) latent risks associated with international
activities and 13) retirement benefit liabilities.

February 3, 2009

FY2009 Third Quarter Consolidated Financial Results(Nine Months Result from April 1, 2008 to December 31, 2008)

TOYOTA INDUSTRIES CORPORATION
Stock exchange listings: Tokyo, Osaka and Nagoya (Code number: 6201) (URL: http://www.toyota-industries.com/ )Representative person: Tetsuro Toyoda, President
Contact person: Toshifumi Ogawa, Managing Officer, General Manager of Accounting Department (Tel. +81-(0)566-22-2511)
The expected date of submission of the quarterly report: February 12, 2009
(Amounts less than one million yen are omitted)

1. Financial Highlights for FY2009 Third Quarter (Nine Months Result ended December 31, 2008)(1) Consolidated Financial Results(% : change from the same period of previous year)

Operating Income

Net Sales
Million yen

FY2009
Third Quarter
FY2008
Third Quarter%

Million yen

Ordinary Income%

Million yen

Net Income%

Million yen%

1,307,158(- )18,839(- )48,477(- )27,474(- )1,477,361

(

6.1 )

73,362(

11.2 )

107,327(

19.6 )

69,062(34.0 )

FY2009
Third Quarter
FY2008
Third Quarter

Net Income
per Share―basic

Net Income
per Share―diluted

Yen

Yen

088.17088.17220.98220.87(2) Consolidated Financial Position
Total Assets

Total Net Assets

Million yen

Equity Ratio

Equity per Share
%Million yen

Yen

FY2009
Third Quarter

2,249,077

0,988,118

41.5

2,993.20

FY20082,965,585

1,453,996

47.1

4,483.32

Note: Equity capital: FY2009 third quarter: 932,621 million yen, FY2008: 1,396,955 million yen
2. Cash Dividends
First Quarter

Annual Cash Dividends per Share
Second Quarter
Third Quarter
Year-end

Yen

Yen

Yen

Yen

Yen

FY2008

00.0-

28.00

00.0-

32.00

60.00

FY2009

00.0-

30.00

00.0-

00.0-

00.0-

FY2009(Forecast)

00.0-

00.0-

00.0-

30.00

60.00

Note: Changes in the forecasted cash dividends in this quarter : No
3. Forecasts of Consolidated Financial Results for FY2009 (April 1, 2008 - March 31, 2009)(% : change from the same period of previous year)

Net Sales
Million yen

FY2009Operating Income%

1,640,000 ( -18.0 )Million yen-10,000(

Ordinary Income%

Million yen- )19,000%( -85.0 )Million yen

10,000Note: Changes in the forecasts of consolidated financial results in this quarter : No

- 1 -Net Income
per Share―basic

Net Income%( -87.6 )

Yen

32.09

4.Others(1) Changes in major subsidiaries : None
(2) Application of simplified accounting methods and special accounting methods
for the preparation of quarterly consolidated financial statements : Yes
Please see page 4 for details on changes in accounting policies in"[Qualitative Information and Financial Statements] 4.Others ".
(3) Changes in accounting principles, procedures and method of presentation of quarterly consolidated
financial statements (changes made in significant items that form the basis of preparation of quarterly
consolidated financial statements)
1. Changes arising from revision of accounting policies : Yes
2. Changes other than 1. : Yes
Please see page 4 for details on changes in accounting policies in"[Qualitative Information and Financial Statements] 4.Others ".
(4) Issued and outstanding capital stock
1. Number of shares outstanding at end of each period:
FY2009 third quarter －325,840,640 shares, FY2008 －325,840,640 shares
2. Number of treasury stock outstanding at end of each period:
FY2009 third quarter －14,260,567 shares, FY2008 －14,251,070 shares
3. Average number of shares outstanding for each period:
FY2009 third quarter －311,585,741 shares, FY2008 third quarter －312,532,823 shares»

Explanation regarding the proper use of performance forecasts and other special items(Performance forecasts）
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.
(Application of accounting standards for quarterly consolidated financial statements)
Effective from the fiscal year beginning April 1, 2008, Toyota Industries applied Financial AccountingStandard No. 12 “Accounting Standards for Quarterly Financial Reporting” issued by the AccountingStandards Board of Japan and its Implementation Guidance No. 14 “Guidance on Accounting Standardsfor Quarterly Financial Reporting” issued by the Accounting Standards Board of Japan. The quarterly
consolidated financial statements have been prepared in accordance with the quarterly financial reportsystem.

- 2 -[Qualitative Information and Financial Statements]
1. Qualitative Information Regarding Consolidated Business Results
During the third quarter of fiscal 2009 (the nine months from April 1 to December 31, 2008), global
economic conditions became increasingly severe. Overseas, in addition to an economic downturn in the
United States and Europe, deceleration of the emerging market economies intensified.
Concurrently, the Japanese economy rapidly declined as exports, production and private-sector
capital investment sharply decreased, accompanied by the deteriorating employment situation beginningfrom autumn 2008.
In this difficult operating environment, total consolidated net sales of Toyota Industries amounted to1,307.1 billion yen, a decrease of 170.2 billion yen, or 12%, from 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 630.6 billion yen, a decrease of 84.4 billion yen, or 12%,from the same period of the previous fiscal year.
Within this segment, net sales of the Vehicle Business totaled 318.7 billion yen, a decrease of 46.9
billion yen, or 13%, due mainly to decreases in sales of the Vitz (Yaris overseas), the RAV4 and Mark X
ZiO.
Net sales of the Engine Business totaled 127.1 billion yen, a decrease of 4.2 billion yen, or 3%.
Despite an increase in sales of VD diesel engines installed in the Land Cruiser for the overseas market,
sales of AD diesel engines fitted in the RAV4 and other automobiles decreased.
Net sales of the Car Air-Conditioning Compressor Business totaled 156.7 billion yen, a decrease of
34.6 billion yen, or 18%, due to significant decreases in production volume primarily by automakers inNorth America and Europe.
Net sales of the Materials Handling Equipment Segment totaled 522.1 billion yen, a decrease of 55.2
billion yen, or 10%, from the same period of the previous fiscal year. This can be attributed to a decrease
in total unit sales of lift trucks, a mainstay product of this segment, on account of a contraction in the
global market. A decline in unit sales of aerial work platforms and the negative impact of exchange rate
fluctuations were also key factors.
Net sales of the Logistics Segment totaled 88.7 billion yen, an increase of 0.9 billion yen, or 1%,
attributable mainly to the strong performance by businesses engaged in collection and delivery of cash
and management of sales proceeds services as well as secure storage, management, collection anddelivery of corporate documents services.
Net sales of the Textile Machinery Segment totaled 27.8 billion yen, a decrease of 20.9 billion yen, or
43%, from the same period of the previous fiscal year owing mainly to a significant decrease in sales of
air-jet looms to China.
In terms of overall profit, consolidated ordinary income amounted to 48.4 billion yen, a decrease of
58.9 billion yen, or 55%. Despite vigorous cost-reduction activities Group-wide, ordinary income fell as aresult of lower sales in Japan and overseas, rises in raw materials and components costs, the negative
impact of exchange rate fluctuations, higher depreciation expenses and a decrease in the net amount of
non-operating income and non-operating expenses. Net income amounted to 27.4 billion yen, adecrease of 41.6 billion yen, or 60%.

Note: Value and rate of changes comparing to FY2008 third quarter are not reviewed by Auditor.

- 3 -2. Qualitative Information Regarding Consolidated Financial Condition
Despite an initial increase as a result of a revision to accounting standards, total assets were down
716.5 billion yen to 2,249.0 billion yen due mainly to a decrease in market value of investment securities.
Net assets amounted to 988.1 billion yen, a decrease of 465.8 billion yen.

3. Qualitative Information Regarding Forecast for the FY 2009
Toyota Industries anticipates the current economic conditions to become even more challenging.
While it is expected that countermeasures administered by respective governments will be effective atovercoming the financial crisis, the operating environment surrounding the Toyota Industries Group isforecast to become even more severe in view of concerns over further market contractions anddeteriorating corporate performance.
Amid this challenging operating environment, the Toyota Industries Group will devote our efforts toquickly and comprehensively rebuild our management platform into a more muscular and strong one.
In addition, the Toyota Industries Group will speed up development in the area of environmental
technologies and other potential growth areas.
For fiscal 2009, ending March 31, 2009, Toyota Industries forecasts consolidated net sales of 1,640.0
billion yen, an operating loss of 10.0 billion yen, ordinary income of 19.0 billion yen and net income of
10.0 billion yen.
Our projections are based on assumed exchange rates of ¥90.0 = US$1 and ¥120.0 = €1 for the
fourth quarter.

4. Others(1)

Changes in major subsidiaries: None

(2)

Application of simplified accounting methods and special accounting methods for the preparationof quarterly consolidated financial statements
1. Inventory valuation
In calculating inventories as of the end of the third quarter of the fiscal year under review,actual calculation of inventories has been omitted, being replaced with a determination of
inventory using a rational calculation method based on actual inventory at the end of thesecond quarter.
Furthermore, reductions in the book value of inventories have only been made in cases
where there have been clear reductions in potential earnings. In such cases, the book value
has been written down on an estimated net basis
2. Calculation of fixed asset depreciation
Depreciation expenses for fixed assets depreciated by the declining-balance method havebeen calculated by allocating depreciation expenses related to the fiscal year under review by
their remaining terms.
3. Calculation of income taxes, deferred tax assets and deferred tax liabilities
The inclusion of additions and subtractions and tax deduction items in the calculation ofincome tax payments has been limited to significant items.
When there has been no marked change in the business environment or temporary
fluctuations since the end of the previous fiscal year, the potential recovery of deferred tax
assets is determined based on the business performance forecasts of the previous fiscal year
and tax planning methods.

- 4 -

(3)

Changes in the accounting principles, procedures and method of presentation of quarterly
consolidated financial statements
1. Application of Accounting Standards for Quarterly Financial Reporting
Effective from the fiscal year beginning April 1, 2008, Toyota Industries applied Financial
Accounting Standard No. 12 “Accounting Standards for Quarterly Financial Reporting” issued
on March 14, 2007 by the Accounting Standards Board of Japan and its Implementation
Guidance No. 14 “Guidance on Accounting Standards for Quarterly Financial Reporting”
issued on March 14, 2007 by the Accounting Standards Board of Japan. The quarterly
consolidated financial statements have been prepared in accordance with the quarterly
financial report system.
2. Application of Accounting Standards for Measurement of Inventories
Effective from the fiscal year beginning April 1, 2008, Toyota Industries applied Financial
Accounting Standard No. 9 “Accounting Standards for Measurement of Inventories” issued on
July 5, 2006 by the Accounting Standards Board of Japan. Based on these standards, Toyota
Industries has changed its inventory valuation method from the cost method to the net selling
value (writing down book value on loss of earning power) method.
3. Application of Practical Solutions for Unification of Accounting Policies Applied to Foreign
Subsidiaries for Consolidated Financial Statements
Effective from the fiscal year beginning April 1, 2008, Toyota Industries applied Practical
Issues Task Force No. 18 “Practical Solutions for Unification of Accounting Policies Applied toForeign Subsidiaries for Consolidated Financial Statements” issued on May 17, 2006 by the
Accounting Standards Board of Japan.
4. Application of Accounting Standards for Lease Transactions
Effective from the fiscal year beginning April 1, 2008, Toyota Industries made an early
application of Financial Accounting Standard No. 13 “Accounting Standards for Lease
Transactions” issued on June 17, 1993 (final revision on March 30, 2007) by the AccountingStandards Board of Japan and its Implementation Guidance No. 16 “Guidance on AccountingStandards for Lease Transactions” issued on January 18, 1994 (final revision on March 30,2007) by the Accounting Standards Board of Japan.

- 5 -5. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Million yen)

AssetsCurrent assets
Cash and deposits
Trade Notes and accounts receivable
Short-term investments
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other current assets
Allowance for doubtful accounts
Total current assets
Fixed assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Goodwill
SoftwareTotal intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other investments and other assets
Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets- 6 -FY2009
Third Quarter(As of December 31, 2008)

FY2008(As of March 31, 2008)

111,541
172,866
51,313
48,13439,28229,92915,411
61,622(2,245)
527,856

115,557
244,035
40,621
57,95935,87330,79918,86054,391(2,486)595,612

182,044
255,982
26,679109,239
53,303627,248

188,776
266,347
28,145
107,727
31,849622,847

108,021
11,347
119,368

137,163
12,522
149,685

831,524
6,235
9,513
127,507(177)
974,604
1,721,221
2,249,077

1,513,779
8,056
8,578
67,202(177)
1,597,439
2,369,972
2,965,585

(Million yen)
FY2009
Third Quarter(As of December 31, 2008)
Liabilities
Current liabilities
Trade notes and accounts payable
Short-term loans payable
Commercial papers
Current portion of bonds
Accounts payable-other
Income taxes payable
Deferred tax liabilities
Provision for directors' bonuses
Other current liabilities
Total current liabilities
Long-term liabilities
Bonds payable
Long-term loans payable
Deferred tax liabilities
Provision for retirement benefits
Other long-term liabilities
Total long-term liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total valuation and translation
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets- 7 -FY2008(As of March 31, 2008)

141,364
66,793
22,61526,18932,655
4,357
269
418
165,038
459,703

214,084
52,32633,70020,00030,38927,137
1,881
626
157,894
538,041

228,024
195,961
216,695
44,517116,055
801,255
1,260,958

230,766
185,513482,787
47,102
27,376
973,547
1,511,588

80,462
106,180
472,535(50,667)
608,51180,462
106,184
466,780(50,644)602,783

339,827
162(15,880)
324,1101,086
54,410988,118
2,249,077

752,553140
41,477794,171695
56,345
1,453,996
2,965,585

(2) Quarterly Consolidated Statements of Income

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
Total non-operating income
Non-operating expenses
Interest expenses
Other non-operating expenses
Total non-operating expenses
Ordinary income
Income before income taxes and minority
Income taxes-current
Income taxes-deferred
Total income taxes
Minority interests in income
Net income- 8 -(Million yen)
FY2009 Third Quarter(Nine Months Result
ended December 31, 2008)
1,307,158
1,128,200
178,957
160,118
18,83910,03137,677
4,461
52,171
15,2907,242
22,53348,477
48,477
9,346
10,124
19,4701,532
27,474Effective from the fiscal year beginning April 1, 2008, Toyota Industries applied Financial AccountingStandard No. 12 “Accounting Standards for Quarterly Financial Reporting” issued by the AccountingStandards Board of Japan and its Implementation Guidance No. 14 “Guidance on Accounting Standards for
Quarterly Financial Reporting” issued by the Accounting Standards Board of Japan. The quarterly
consolidated financial statements have been prepared in accordance with the quarterly financial reportsystem.

(3) Note on premise of going concern: None
(4) Segment Information
1. Business segment information
FY2009 Third Quarter (Nine Months Result ended December 31, 2008)
Automobile

Materials
handling
equipment

Logistics

Textilemachinery(1) Outside customer sales

630,699

522,136

88,77627,869(2) Intersegment transactions

15,940

2,599

5,650

Total

646,640

524,735

2,062

13,087(Million yen)

Total

Eliminations Consolidated

37,676

1,307,158-

1,307,158

22

17,317

41,530(41,530)-

94,42627,892

54,993

1,348,689

2,394

(34)

1,087

18,597

Others

Net sales

Operating income(41,530) 1,307,158
241

18,839Notes 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, electronics parts
Materials handling equipment ...Forklift trucks, warehouse equipment, automated storage and retrieval system, aerial work platforms
Logistics …………………………Transportation services, collection and delivery of cash and management of sales proceeds services,
secure storage, management, collection and delivery of corporate documents services
Textile machinery ………………Air jet looms, water jet looms, ring spinning frames
Others ……………………………Semiconductor package substrates

2. Geographical segment information
FY2009 Third Quarter (Nine Months Result ended December 31, 2008)
Japan

North
America

EuropeOthers(Million yen)

Total

Eliminations Consolidated

Net sales(1) Outside customer sales

880,165

159,807225,252

41,933

1,307,158-

1,307,158(2) Intersegment transactions

80,945

1,561

4,914

5,410

92,832(92,832)-

Total

961,110

161,368

230,167

47,343

1,399,990(92,832)

1,307,158

Operating income

16,955(1,066)

181

1,714

17,785

1,053

18,839- 9 -3. Overseas sales
FY2009 Third Quarter (Nine Months Result ended December 31, 2008)
North America
Ⅰ Overseas sales

158,978

Europe251,805(Million yen)

Others114,745

Ⅱ Consolidated net sales
Ⅲ Ratio of overseas sales to consolidated net sales

Total
525,529
1,307,158

12.1%

19.3%

8.8%

40.2%

(5) Notes on significant changes in the amount of shareholders’ equity
During the third quarter of FY 2009 (the nine months from April 1 to December 31, 2008), theCompany paid dividends in the amount of 19,318 million yen from retained earnings.
In addition, effective the fiscal year beginning April 1, 2008, Toyota Industries applied Practical
Issues Task Force No. 18 “Practical Solutions for Unification of Accounting Policies Applied toForeign Subsidiaries for Consolidated Financial Statements” issued on May 17, 2006 by the
Accounting Standards Board of Japan and made the necessary revisions to its consolidated
accounting methods.

- 10 -

[Reference] Financial Statements in FY2008 Third Quarter(1) Quarterly Consolidated Statements of Income

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
Total non-operating income
Non-operating expenses
Interest expenses
Other non-operating expenses
Total non-operating expenses
Ordinary income
Extraordinary income
Gain on sales of investment securities
Total extraordinary income
Income before income taxes and minority
Income taxes-current
Income taxes-deferred
Total income taxes
Minority interests in income
Net income- 11 -(Million yen)
FY2008 Third Quarter(Nine Months Result
ended December 31, 2007)
1,477,361
1,239,849
237,511
164,148
73,362
10,921
34,763
11,94857,633
14,7698,899
23,669107,327
5,864
5,864
113,191
34,6393,320
37,9606,168
69,062

(2) Segment Information
1. Business segment information
FY2008 Third Quarter (Nine Months Result ended December 31, 2007)
Automobile

Materials
handling
equipment

Logistics

Textilemachinery(1) Outside customer sales

715,001

577,31187,886(2) Intersegment transactions

19,048

1,885

Total

734,050

Operating income

30,328(Million yen)

OthersTotal

Eliminations Consolidated

48,78848,372

1,477,361-

1,477,361

5,951

0

16,37643,262(43,262)-

579,196

93,837

48,78964,749

1,520,623

31,589

2,779

3,132

5,247

73,077

Net sales(43,262) 1,477,361
284

73,362

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, electronics parts
Materials handling equipment ...Forklift trucks, warehouse equipment, automated storage and retrieval system, aerial work platforms
Logistics …………………………Transportation services, collection and delivery of cash and management of sales proceeds services,
secure storage, management, collection and delivery of corporate documents services
Textile machinery ………………Air jet looms, water jet looms, ring spinning frames
Others ……………………………Semiconductor package substrates

2. Geographical segment information
FY2008 Third Quarter (Nine Months Result ended December 31, 2007)
Japan

North
America

Europe(Million yen)

OthersTotal

Eliminations Consolidated

Net sales(1) Outside customer sales

986,775

204,174

239,444

46,965

1,477,361-

1,477,361(2) Intersegment transactions

99,645

1,547

5,502

5,631

112,326(112,326)-

1,086,421

205,721244,947

52,597

1,589,688(112,326)

1,477,361

61,496

4,133

5,126

3,819

74,575(1,212)73,362

Total
Operating income

3. Overseas sales
FY2008 Third Quarter (Nine Months Result ended December 31, 2007)
North America
Ⅰ Overseas sales

204,385(Million yen)

Europe273,567

Others
139,413

Ⅱ Consolidated net sales

Total
617,366
1,477,361

Ⅲ Ratio of overseas sales to consolidated net sales

13.8%- 12 -

18.5%

9.5%

41.8%