Consolidated Statements of Income
Toyota Industries Corporation
For the six months ended September 30, 2006 and 2005 (unaudited)

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
Non-operating expenses:
Interest expenses
Other non-operating expenses
Ordinary income
Income before income taxes and minority interests
Income taxes — current
Income taxes — deferred
Minority interests in consolidated subsidiaries
Net income

Millions of yen

Thousands ofU.S. dollars (Note 1)

For the six months
ended September 30

For the six months
ended September 30

2006

2005

2006

¥913,085
770,488
142,597
102,546
40,051¥699,028
586,754
112,274
80,22332,051$7,744,572
6,535,098
1,209,474
869,771339,703

8,540
14,354
6,075

4,407
10,6886,740

72,434
121,747
51,527(9,943)(5,595)53,48253,482
20,661(331)
2,884¥ 30,268(5,259)(7,050)41,577
41,577
11,8282,204
2,537¥ 25,008(84,334)(47,455)
453,622453,622
175,242(2,807)
24,461$ 256,726

Yen

Net income per share — basic
Net income per share — diluted
Cash dividends per share¥96.3096.21
22.00

U.S. dollars¥78.41
78.38
18.00

$0.82
0.82
0.19

The accompanying notes are an integral part of these financial statements.

Consolidated Statements of Shareholders’ Equity
Toyota Industries Corporation
For the six months ended September 30, 2006 and 2005 (unaudited)

Millions of yen

Balance at March 31, 2005
Net income
Cash dividends
Bonuses to directors and corporate auditors
Net unrealized gains on other securities
Foreign currency translation adjustmentsRepurchase of treasury stock
Exercise of stock options
Decrease due to increase in affiliates
accounted for under the equity method
Balance at September 30, 2005

12TOYOTA INDUSTRIES CORPORATION

Commonstock

CapitalsurplusRetainedearnings

Net unrealized
gains on othersecurities

Translation
adjustments

Treasurystock
at cost¥80,463––––––––¥105,601
–
–
––––
68
–

¥325,331
25,008(6,046)(396)––––(1,822)¥591,218–––
197,556––––¥29,861––––(6,318)–––¥(16,727)–––––(21)2,359–¥80,463¥105,669¥342,075¥788,774¥23,543¥(14,389)

Millions of yen
Shareholders’ equity
Commonstock

Balance at March 31, 2006
Change during interim accounting period
Surplus dividend
Bonuses to directors and corporate auditors
Decrease due to increase in affiliates accounted
for under the equity method
Net income for the period
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2006

CapitalsurplusRetained
earnings

Treasury stock
at costTotal shareholders’equity¥80,463¥105,665¥358,386¥(14,364)¥530,150––––––(6,387)(427)(1,673)–––(6,387)(427)(1,673)––––––(548)–30,268––––(35,474)
2,432–

30,268(35,474)
1,884––¥80,463(548)¥105,117

21,781¥380,167(33,042)¥(47,406)(11,809)¥518,341

Valuation and translation adjustments

Balance at March 31, 2006
Change during interim accounting period
Surplus dividend
Bonuses to directors and corporate auditors
Decrease due to increase in affiliates accounted
for under the equity method
Net income for the period
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2006

Net unrealized
gains or losses onother securities

Deferred gains
or losses onhedgesForeign currencytranslation
adjustments

Total valuationand translation
adjustments¥1,047,191¥

Subscription
rights toshares

Minority interests
in consolidated
subsidiaries

Total netassets–¥33,886¥1,081,077¥ –¥49,271¥1,660,498

–
–
–

–
––––––––––––––(6,387)(427)(1,673)–––(40,861)–––(147)–––
11,966–––(29,042)

–––
51

––
–
5,054

30,268(35,474)
1,884(23,937)(40,861)¥1,006,330(147)¥(147)

11,966¥45,852(29,042)¥1,052,035

51
¥51

5,054
¥54,325(35,746)¥1,624,752

Thousands of U.S. dollars (Note 1)
Shareholders’ equity

Balance at March 31, 2006
Change during interim accounting period
Surplus dividend
Bonuses to directors and corporate auditors
Decrease due to increase in affiliates accounted
for under the equity method
Net income for the period
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2006

Commonstock

CapitalsurplusRetainedearnings

Treasury stock
at costTotal shareholders’equity$682,468$896,226$3,039,746$(121,833)$4,496,607––––––(54,173)(3,622)(14,190)–––(54,173)(3,622)(14,190)

–––
–

–
–
(4,648)–

256,726––––(300,882)
20,628–

256,726(300,882)
15,980––$682,468(4,648)$891,578

184,741$3,224,487(280,254)$(402,087)(100,161)$4,396,446

Subscription
rights toshares

Minority interests
in consolidated
subsidiaries

Total net
assetsValuation and translation adjustments

Balance at March 31, 2006
Change during interim accounting period
Surplus dividend
Bonuses to directors and corporate auditors
Decrease due to increase in affiliates accounted
for under the equity method
Net income for the period
Repurchase of treasury stock
Exercise of stock options
Change to items other than shareholders’ equity
during interim accounting period
Total change during interim accounting period
Balance at September 30, 2006

Net unrealized
gains or losses onother securities

Deferred gains
or losses onhedgesForeign currencytranslation
adjustments

Total valuationand translation
adjustments$8,882,027$–$287,413$9,169,440––––––––––––(346,573)–––(1,247)(346,573)$8,535,454(1,247)$(1,247)$–$417,905$14,083,952

–
–
–

––
–

–
––

(54,173)(3,622)(14,190)–––
101,493–––(246,327)

–––
432

––
–
42,867

256,726(300,882)
15,980(203,028)

101,493$388,906(246,327)$8,923,113

432
$432

42,867$460,772(303,189)$13,780,763

The accompanying notes are an integral part of these financial statements.

SEMIANNUAL REPORT 200713