FINANCIAL SUMMARYFY2010 Second Quarter(April 1, 2009 through September 30, 2009)

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.

October 30, 2009

FY2010 Second Quarter Consolidated Financial Results(Six Months Result from April 1, 2009 to September 30, 2009)

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: November 12, 2009
The expected date of dividends payment: November 26, 2009
(Amounts less than one million yen are omitted)

1. Financial Highlights for FY2010 Second Quarter (Six Months Result ended September 30, 2009)(1) Consolidated Financial Results(% : change from the same period of previous year)

Net sales

Operating income%

Million yen

Ordinary income%

Million yen

Net income%

Million yen%

Million yen

FY2010
Second Quarter

627,562(32.4)(2,802)-4,265(89.4)

229(99.0)

FY2009Second Quarter

928,470-

22,974-40,313-23,518-Net income
per share―basic

Net income
per share―diluted

Yen

Yen

FY2010
Second Quarter

00.74

-

FY2009Second Quarter

75.48

75.48

(2) Consolidated Financial Position
Total assets

Total net assets

Million yen

Equity ratio

Net assets per share%

Million yen

Yen

FY2010
Second Quarter

2,535,820

1,097,172

41.4

3,367.75

FY20092,327,432

0,977,670

40.0

2,987.16(Note) Equity capital: FY2010 Second Quarter ― 1,049,300 million yen, FY2009 ― 930,730 million yen
2. Cash Dividends
Annual cash dividends per shareFirst quarter

Second quarter

Third quarter

Yen

Yen

Yen

FY2009

00.0-

30.00

FY2010

00.0-

10.00

FY2010(Forecast)Year-end
Yen

Yen

00.0-

10.00

40.00

00.0-

00.0-

00.0-

(Note) Changes in the forecasted cash dividends in this quarter : No
(Note) Forecast of cash dividends per share for fiscal 2010 has not been decided yet.
3. Forecasts of Consolidated Financial Results for FY2010 (April 1, 2009 - March 31, 2010)(% : change from previous year)

Net sales

FY2010Operating income

Million yen%

Million yen

1,390,000(12.3)

10,000%-Ordinary income
Million yen

18,000%25.5%

Million yen

4,500(Note) Changes in the forecasts of consolidated financial results in this quarter : Yes- 1 -Net income
per share―basic

Net income

-

Yen

14.44

4.Others(1) Changes in major subsidiaries : No
(2) Application of simplified accounting methods and special accounting methods
for the preparation of quarterly consolidated financial statements : Yes(Note) Please see page 5 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 : Yes② Changes other than ① : No
(Note) Please see page 5 for details on changes in accounting policies in"[Qualitative Information and Financial Statements] 4.Others ".
(4) Issued and outstanding capital stock① Number of shares outstanding at end of each period:
FY2010 Second Quarter －325,840,640 shares, FY2009 －325,840,640 shares② Number of treasury stock outstanding at end of each period:
FY2010 Second Quarter －14,267,399 shares, FY2009 －14,263,027 shares③ Average number of shares outstanding for each period:
FY2010 Second Quarter －311,574,828 shares, FY2009 Second Quarter －311,587,260 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 making
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.
・ Our projections are based on assumed exchange rates of ¥90 = US$1 and ¥130 = €1 for theremainder of the fiscal year.
(Forecast of Cash dividends paying)
Toyota Industries’ dividend policy is to meet the expectations of shareholders while giving
full consideration to business performance and funding requirement, and focusing on dividend
payout ratio and other factors. However, Toyota Industries abstains from making forecasts for
dividends at this point since the outlook for the management environment remains uncertain.
By giving due consideration to future business performance and other factors, Toyota Industries
plans to announce its intentions by the end of fiscal 2010 financial closing.

- 2 -(Reference) Forecasts of Non-Consolidated Financial Results for FY2010 (April 1, 2009 - March 31, 2010)(% : change from previous year)

Net sales
FY2010Operating income

Million yen%

900,000(4.3)%

Million yen

8,000

-

Ordinary income
Million yen

16,000%(21.5)%

Million yen

12,000(Note) Changes in the forecasts of Non-consolidated financial results in this quarter : Yes- 3 -Net income
per share―basic

Net income

-

Yen

38.51

[Qualitative Information and Financial Statements]
1. Qualitative Information Regarding Consolidated Business Results
During the first half of fiscal 2010 (the six months ended September 30, 2009), the global economic
recession persisted even though certain Asian countries witnessed a mild economic recovery andeconomies in the European countries and the United States appear to have bottomed out thanks to theeffects of economic stimulus measures. The Japanese economy remained in grave condition despite
signs of improvement as the private-sector capital investments decreased and the employment situation
further deteriorated.
In this difficult operating environment, total consolidated net sales of Toyota Industries amounted to627.5 billion yen, a decrease of 300.9 billion yen, or 32%, from the first half of fiscal 2009 (the six months
ended September 30, 2008). The following is a review of operations for the major business segments.
Net sales of the Automobile Segment totaled 340.1 billion yen, a decrease of 105.3 billion yen, or24%, from the first half of fiscal 2009. Within this segment, net sales of the Vehicle Business amounted
to 174.3 billion yen, a decrease of 47.1 billion yen, or 21%, due mainly to a decrease in unit sales of theVitz (Yaris overseas), RAV4 and Mark X ZiO. Net sales of the Engine Business totaled 70.0 billion yen, adecrease of 20.8 billion yen, or 23%, attributable primarily to a decrease in unit sales of KD diesel
engines for Toyota Motor Corporation’s Innovative International Multi-Purpose Vehicle (IMV) Series. Net
sales of the Car Air-Conditioning Compressor Business totaled 79.9 billion yen, a decrease of 33.8
billion yen, or 30%, resulting from a decrease in production of automakers.
Net sales of the Materials Handling Equipment Segment totaled 208.4 billion yen, a decrease of
163.4 billion yen, or 44%, resulting from a significant decline in unit sales of lift trucks, a mainstay
product of this segment, for both the TOYOTA and BT brands, This can be largely attributed to the paceof the global market contraction, which eased slightly in the second quarter.
Net sales of the Logistics Segment amounted to 53.1 billion yen, a decrease of 6.3 billion yen, or 11%,despite the strong performance by businesses engaged in collection and delivery of cash andmanagement of sales proceeds services as well as secure storage, management, collection anddelivery of corporate documents services. This was offset by a decline in sales of the cargo transportbusiness of automotive-related parts.
Net sales of the Textile Machinery Segment totaled 6.9 billion yen, a decrease of 17.5 billion yen, or
71%, owing mainly to a significant decrease in unit sales of air-jet looms to China.
In terms of overall profit, during the second quarter of fiscal 2010 (July 1 to September 30, 2009),
Toyota Industries saw its sales gradually recover while aggressively striving to realize a streamlined
structure mainly through reductions in personnel costs, expenses and capital investments. As a result,
Toyota Industries posted consolidated operating income of 6.7 billion yen. For the first six months offiscal 2010, however, a significant decrease in sales worldwide had a tremendous impact, resulting in an
operating loss of 2.8 billion yen compared with operating income of 22.9 billion yen in the first half offiscal 2009. Ordinary income amounted to 4.2 billion yen, a decrease of 36.1 billion yen, or 89%, while
net income totaled 0.2 billion yen, a decrease of 23.3 billion yen, or 99%, due primarily to posting a loss
arising from business restructuring of the Materials Handling Equipment Segment as an extraordinaryloss.

2. Qualitative Information Regarding Consolidated Financial Condition
Total assets increased 208.4 billion yen from the end of the previous fiscal year to 2,535.8 billion yen
due mainly to an increase in market value of investment securities. Net assets amounted to 1,097.1
billion yen, an increase of 119.5 billion yen from the end of the previous fiscal year.

- 4 -3. Qualitative Information Regarding Forecast for Fiscal 2010
In fiscal 2010, ending March 31, 2010, although the global economy is projected to gradually recover,uncertainties remain with regards to fluctuations in exchange rates and concerns about a further decline
in the economic situation. As a result, the operating environment continues to preclude optimism.
Amid this challenging environment, the Toyota Industries Group will continue to make a concerted
effort on a global basis to quickly and thoroughly rebuild our business structure into a more muscular andstronger one. For medium- to long-term growth, we will pursue business expansion by refining ourelement technologies for contributing to electrification, lighter weight and energy efficiency and byincorporating these technologies into new products released by our mainstay businesses of automobiles
and materials handling equipment. Based on the keywords of the 3Es, Toyota Industries defines as“energy,” “environmental protection” and “ecological thinking” incorporated into our products andoperating activities.
Based on our consolidated business results for the first half of fiscal 2010 as well as a review ofprojected unit sales of the Automobile Segment, cost reduction activities and a review of non-operating
income and expenses, Toyota Industries forecasts consolidated net sales of 1,390.0 billion yen,operating income of 10.0 billion yen, ordinary income of 18.0 billion yen and net income of 4.5 billion yen.
Our projections are based on exchange rates of ¥90 = US$1 and ¥130 = €1 for the remainder of the
fiscal year.

4. Others(1) Changes in major subsidiaries: No(2) Application of simplified accounting methods and special accounting methods for the preparationof quarterly consolidated financial statements① 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.
② 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.
(3) Changes in the accounting principles, procedures and method of presentation of quarterly
consolidated financial statements① Application of Accounting Standard for Construction Contracts
Effective from the fiscal year beginning April 1, 2009, Toyota Industries applied Financial
Accounting Standard No. 15 “Accounting Standard for Construction Contracts” and its
Implementation Guidance No. 18 “Guidance on Accounting Standard for Construction
Contracts,” both of which were issued on December 27, 2007 by the Accounting Standards
Board of Japan.

- 5 -5. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Million yen)
FY2010 Second Quarter(As of September 30, 2009)

FY2009(As of March 31, 2009)

AssetsCurrent assets
Cash and deposits

242,531

169,743

Trade notes and accounts receivable

167,927

158,798

Short-term investments

51,36858,838Merchandise and finished goods

40,36544,237Work in process

26,92030,500Raw materials and supplies

24,06527,423

Deferred tax assets

16,562

16,600

Other current assets

44,65664,632

Allowance for doubtful accounts(3,073)(2,806)

611,324

567,967

Buildings and structures, net

176,442

182,214

Machinery, equipment and vehicles, net

236,887

252,402

Tools, furniture and fixtures, net

25,312

25,598Land

109,816

110,078

Construction in progress

19,607

18,970Total property, plant and equipment

568,065589,264

Goodwill

105,260

107,072

Software

11,13011,736

Total intangible assets

116,391

118,809

1,097,221

907,524

Long-term loans receivable

5,506

5,954

Deferred tax assets

11,757

11,578Other investments and other assets

125,769

126,534

(215)

(199)

1,240,039

1,051,391

1,924,496

1,759,464

2,535,820

2,327,432

Total current assets
Fixed assets
Property, plant and equipment

Intangible assets

Investments and other assets
Investment securities

Allowance for doubtful accounts
Total investments and other assets
Total fixed assets
Total assets- 6 -(Million yen)
FY2010 Second Quarter(As of September 30, 2009)

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
Lease obligations
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 securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total valuation and translation adjustments
Subscription rights to shares
Minority interests
Total net assets
Total liabilities and net assets- 7 -FY2009(As of March 31, 2009)

125,10251,322

104,658
63,187

18,20826,35625,40532,072

10,417
5,152

25,349
7,570

106

249

106
159,404

214
154,720395,226

414,379

261,942
288,301
109,886

231,501
285,340
104,245

327,615
43,132

252,20944,055

12,543
1,043,422

18,029935,382

1,438,648

1,349,762

80,462
106,179

80,462
106,180

409,405(50,682)545,365

412,294(50,672)548,264

506,651
110(2,826)503,935
1,503
46,3681,097,172
2,535,820

392,489
24(10,048)
382,466
1,224
45,715
977,670
2,327,432

(2) Quarterly Consolidated Statements of Income(Million yen)
FY2009 Second Quarter(Six months result ended
September 30, 2008)

FY2010 Second Quarter(Six months result ended
September 30, 2009)

Net sales

928,470

627,562

Cost of sales

793,225

551,453

Gross profit

135,245

76,108Selling, general and administrative expenses

112,270

78,911

Operating income (loss)

22,974(2,802)

Interest income

7,367

5,564

Dividends income

20,6509,449

Other non-operating income

3,647

4,482

Total non-operating income

31,665

19,496

Interest expenses

10,276

9,243

Other non-operating expenses

4,049

3,185

Total non-operating expenses

14,326

12,42840,313

4,265

Non-operating income

Non-operating expenses

Ordinary income
Extraordinary losses
Loss on business restructuring of theMaterials Handling Equipment
Total extraordinary losses
Income before income taxes and

-

3,013

-

3,013

40,313

1,251

Income taxes-current

14,002

1,520

Income taxes-deferred992(1,302)

Total income taxes

14,995217

Minority interests in income

1,799

804

Net income

23,518229

minority interests- 8 -(3) Note on premise of going concern : No
(4) Segment Information① Business segment information
FY2009 Second Quarter (Six months result ended September 30, 2008)(Million yen)

Automobile

Materials
handling
equipment(1) Outside customer sales

445,405

371,827

59,41424,47427,347(2) Inter-segment transactions

11,850

1,773

4,045

3

Total

457,255

373,601

63,4597,300

12,199

1,469

Logistics

Textilemachinery

OthersTotal

Eliminations

Consolidated

928,470-928,470

11,04328,715(28,715)-

24,47838,390957,185(28,715)

928,470887

966

22,823

151

22,974

Net sales

Operating income(Notes) 1. Business segments are divided by the type and nature of the product.
(Notes) 2. Main products of each segment:
Automobile ……………………… Passenger vehicles, diesel and gasoline engines, car air-conditioning compressors,
foundry parts, electronics components
Materials handling equipment … Counterbalanced lift trucks, warehouse trucks, automated storage and retrieval systems,
truck mount aerial work platforms
Logistics ………………………… Transportation services, logistics planning, operation of distribution centers,
collection and delivery of cash and management of sales proceeds,
secure storage, management, collection and delivery of corporate documents
Textile machinery ………………
Air-jet looms, water-jet looms, ring spinning frames
Others ……………………………
Semiconductor package substrates

FY2010 Second Quarter (Six months result ended September 30, 2009)(Million yen)

Automobile

Materials
handling
equipment(1) Outside customer sales

340,125

208,433

53,141

6,999

18,861(2) Inter-segment transactions

5,405

428

2,584

30

345,531

208,862

55,725

1,141(6,249)

1,951

Logistics

Textilemachinery

OthersTotal

Eliminations

Consolidated

627,562-

627,5625,524

13,972(13,972)-

7,030

24,385641,535(13,972)

627,562(1,419)1,525(3,050)247(2,802)

Net sales

Total
Operating income (loss)(Notes) 1. Business segments are divided by the type and nature of the product.
(Notes) 2. Main products of each segment:
Automobile ……………………… Passenger vehicles, diesel and gasoline engines, car air-conditioning compressors,
foundry parts, electronics components
Materials handling equipment … Counterbalanced lift trucks, warehouse trucks, automated storage and retrieval systems,
truck mount aerial work platforms
Logistics ………………………… Transportation services, logistics planning, operation of distribution centers,
collection and delivery of cash and management of sales proceeds,
secure storage, management, collection and delivery of corporate documents
Textile machinery ………………
Others …………………………… Air-jet looms, water-jet looms, ring spinning frames
Semiconductor package substrates- 9 -② Geographical segment information
FY2009 Second Quarter (Six months result ended September 30, 2008)(Million yen)

Japan

North
America

Europe(1) Outside customer sales

624,146

111,162

162,785

30,375(2) Inter-segment transactions

58,688

951

3,099

Total

682,835

112,114

Operating income (loss)

20,799(615)

OthersTotal

Eliminations

Consolidated

928,470-928,470

3,904

66,644(66,644)-

165,884

34,280995,114(66,644)928,470

371

1,880

22,437537

22,974

Net sales

FY2010 Second Quarter (Six months result ended September 30, 2009)
Japan

North
America(Million yen)

EuropeOthersTotal

Eliminations

Consolidated

Net sales(1) Outside customer sales

444,039

64,44699,202

19,874

627,562-

627,562(2) Inter-segment transactions

35,027

576

1,658

2,101

39,363(39,363)-

Total

479,067

65,022

100,860

21,975666,925(39,363)

627,562605(1,891)(3,482)

1,295(3,472)670(2,802)

Operating income (loss)③ Overseas sales

FY2009 Second Quarter (Six months result ended September 30, 2008)
North America
Ⅰ Overseas sales(Million yen)

Europe111,314

Others

182,877

Total

87,724

381,916

Ⅱ Consolidated sales
Ⅲ Ratio of overseas sales to consolidated sales

928,470
12.0%

19.7%

9.4%

FY2010 Second Quarter (Six months result ended September 30, 2009)
North America
Ⅰ Overseas sales

64,792(Million yen)

EuropeOthers109,990

Total

42,031

Ⅱ Consolidated sales
Ⅲ Ratio of overseas sales to consolidated sales

41.1%

216,814627,562

10.3%

17.5%

(5) Note on significant changes in the amount of shareholders’ equity
During the first half of fiscal 2010 (the six months from April 1 to September 30, 2009),
Toyota Industries Corporation paid dividends of 3,115 million yen from retained earnings.

- 10 -

6.7%

34.5%