Profile
What is now Toyota Industries Corporation (“Toyota Industries”) was founded in1926 as Toyoda Automatic Loom Works, Ltd. by the renowned Japanese inventor
Sakichi Toyoda to manufacture automatic looms. The enterprise proceeded overthe years to diversify into such fields as automobiles, forklift trucks and electronics.

Contents

In line with its strategy of globalization, Toyota Industries now has production
facilities in Europe, North America and other regions.

Financial Highlights

1

At a Glance2

To Our Shareholders

4

Automobile, which comprises the vehicle (automobile assembly), engine and carToyota Industries in Focus

11

air-conditioning compressor businesses; Materials Handling Equipment, which

Review of Operations

37

specializes in forklift trucks and other materials handling equipment; Textile

Financial Section

41

Machinery, which covers the spinning and weaving machinery businesses; andToyota Industries Close-up

81

Others, which includes electronics and other businesses. Each of these segments

The business universe of Toyota Industries consists of four segments:

already has or is building a secure footing in its particular fields. The Car Air-Major Developments
90

Conditioning Compressor and Materials Handling Equipment businesses currently

92

make up the mainstays of Toyota Industries’ operations, while the Electronics

Directors and Corporate Auditors 93

Business is well positioned to develop into the core of its future operations.

in Toyota Industries’ History
Corporate Organization

Corporate Data

94

We aim to develop technological and market synergies among our various

Investor Information

96

businesses in order to produce added value in terms of overall performance.

Cautionary Statement with Respect to Forward-Looking Statements
This annual report contains projections and other forward-looking statements that involve risks and uncertainties.
Such 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. Allsuch projections and forward-looking statements are based on management’s assumptions and beliefs derived fromthe information available to it at the time of producing this report and are not guarantees of future performance. These
projections and forward-looking statements are subject to change without notice, and Toyota Industries Corporationand its Group companies will not necessarily inform you of such changes. Therefore, it is advised that you should not
rely solely upon these projections and forward-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:

The cover of this annual report shows
the silhouettes of Toyota Industries’
main products. From left to right:
7SEU compressor, 1CD diesel engine,
TOYOTA’s small car Vitz (Yaris),GENEO (7FG/D) internal combustion
counterbalanced forklift truck,
BT REFLEX AC reach truck,
JAT610 air-jet loom,
and low-temperature polysilicon
TFT-LCDs (manufactured by ST-LCD).

i) Domestic and overseas economic conditions, particularly levels of consumer spending, demand for our products
and private sector capital expenditureii) Adverse changes in laws and regulations, such as trade restrictions and tariffs, or stricter safety or emissions
regulations, resulting in higher costs and/or sales restrictionsiii) Currency exchange rate fluctuations, notably involving yen, U.S. dollars, Asian currencies and the euro—thecurrencies in which Toyota Industries Corporation and its Group companies have holdings and use to conduct theirinternational businessiv) Fluctuations in market prices of securities in which Toyota Industries Corporation and its Group companies havesubstantial holdingsv) The ability of Toyota Industries Corporation and its Group companies to maintain their strength in many productdevelopment and geographical areas, through such means as new product development and launches in highly
competitive markets characterized by continual new product introductions, rapid technological advances andfluctuations in demandvi) Effects of natural disasters, terrorist activities or warvii) Other factors such as greater price competition in Asia, North America and Europe resulting from industry
overcapacity or other factors; higher fuel prices; labor or other constraints on the ability of Toyota Industries
Corporation and its Group companies to restructure their business; work stoppages at their or key supplier facilities;
and the discovery of defects in their products resulting in delays in new product launches, recall campaigns,increased warranty costs or litigation.