FY2021
Financial Results
May 11, 2021

I. Financial Summary
1. Points of financial results
2. Financial results for FY2021
3. Financial forecast for FY2022

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Points of Financial Results for FY2021
1. Net sales and profits exceeded the latest forecast underfavor of recovery from the 2Q onward.

2. Dividends for FY2021 is ¥150, ¥10 decrease from previous
fiscal year. Dividends plan for FY2022 is ¥170, ¥20 increase.

3. Increases in net sales and profits are expected for theFY2022 forecast.
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Performance <FY2021>
FY2020(Billion yen)

FY2021

Change2,171.3

2,118.3(53.0)(2.4%)

Operating profit

128.2

118.1

(10.1)(7.9%)

Profit before income taxes

196.2

184.0

(12.2)(6.3%)

Profit attributable toowners of the parent

145.8

136.7

(9.1)

(6.3%)

Earnings per share¥469.85¥440.28(¥29.57)‐

Dividends per share[Year end]

¥160
[¥80]

¥150
[¥80]

(¥10)
[¥‐]‐
[‐]

Payout ratio

34.1%

34.1%

‐

‐

¥/US$

¥109

¥106(¥3)‐¥/Euro

¥121

¥124

¥3

‐

Net sales‐ Net sales and profits exceeded the latest forecast under favor of recovery from Q2 onwardalthough decreased YoY due mainly to unit sales decrease in each segment.
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Segment Information <FY2021>
Net sales [Operating profit](Billion yen)

Unit sales(Thousand units)

FY2020

FY2021

ChangeVehicle
Engine

89.9
138.5

88.3
139.9

(1.6)
1.4

(1.7%)
1.0%

Car Air‐Conditioning
Compressor

328.2

301.6

(26.6)(8.1%)

Electronics Parts
and others

57.1

61.6

4.5

8.0%

Automobile

613.8[17.2]

591.6
[4.7]

(22.2)[(12.5)](3.6%)

Materials Handling
Equipment

1,436.3[102.2]

1,431.4[109.9]

(4.9)
[7.7]

(0.3%)

Textile Machinery

61.7
[2.9]

40.8
[(1.1)](20.9)[(4.0)](33.9%)

Others

59.3
[5.9]

54.3
[4.4]

(5.0)
[(1.5)]

Total

2,171.3[1,282]

2,118.3[118.1](53.0))[(10.1)]

FY2020

FY2021

Change

324

323

(1)

DieselGasoline

389
418

362
403

(27)
(15)

Engine807

765(42)Car Air-Conditioning
Compressor

31,03027,510(3,520)(8.4%)

Materials Handling
Equipment

278

250

(28)

(2.4%)

Air-jet loom

6.8

4.7

(2.1)

Vehicle（RAV4)

Note: From these financial results, "the Electronics Parts, Foundry and Others Business" has been renamed as "the Electronics Parts and Others Business", whilefoundry products and others included in "the Electronics Parts, Foundry and Others Business" have been reclassified into "the Engine Business" and"the Car Air‐Conditioning Compressor Business". Figures for FY2020 have also been reclassified.

Vehicle :Net sales remained on par with previous year with unit sales increase of RAV4 in Japan while decrease overseas.
Engine :Net sales remained on par with previous year by sales increase of foundry products although unit sales ofgasoline and diesel engines decreased.
Car Air-Conditioning Compressor :Net sales decreased due mainly to unit sales decrease in Europe and North America.
Materials Handling Equipment :Although unit sales of forklift in Europe and North America decreased, contribution oflogistics solutions business supported stable net sales.

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Changes in Operating Profit
Year‐on‐year comparison (FY2020 and FY2021)
Operating profit ¥10.1 billion decrease (¥128.2 to ¥118.1 billion)(Billion yen)

+11.5

+0.5
Decrease inraw materialcost

128.2

+2.3

(19.8)

Decrease inexpenses andothers(4.0)

Cost reduction
Decreasein net sale

FY2020‐+14.3

Increase inlabor costs

(0.6)

118.1

Increase indepreciation(24.4)FY2021

Although cost reduction initiatives as well as decrease in expenses and others
contributed to profit increase, decrease in net sales had a major impact on
YoY profit decrease.
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Performance <FY2021>(Billion yen)

FY2020

FY2021

ChangeInvestments intangible assets

106.0

113.3

7.3

6.9%

Depreciation

90.4

91.0

0.6

0.7%

‐ Overall investments in tangible assets increased due mainly to increase inEngine business and Electronics Parts business and others business including
battery while those in Car Air‐Conditioning Compressor business andMaterials Handling Equipment segment decreased.

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Performance <FY2021>(Billion yen)

As of March
31, 2020

As of March
31, 2021

Total assets

5,279.6

6,503.9

1,224.3

23.2%

Total equity

2,520.5

3,322.5

802.0

31.8%

¥7,854.87¥10,422.64¥2,567.77

‐

46.2%

49.8%

‐

‐

256256‐‐Equity attributable toowners of the parent
per share
Percentage of equity
attributable to owners of theparent
Consolidated subsidiariesChange‐ Total assets increased by increase of market value ofinvestment securities.
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Performance <FY2022 Forecast>(Billion yen)

FY2021

FY2022

Change2,118.3

2,300.0

181.7

8.6%

Operating profit

118.1

150.0

31.9

26.9%

Profit before income taxes

184.0

215.0

31.0

16.8%

Profit attributable toowners of the present

136.7

160.0

23.3

17.0%

Earnings per share¥440.28¥515.33¥75.05‐

Dividends per share[Year‐end]

¥150
[¥80]

¥170
[¥90]

¥20
[¥10]

‐
‐

Payout ratio

34.1%

33.0%

‐‐

¥/US$¥106¥105(¥1)‐¥/Euro¥124¥125¥1‐Net sales

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Segment Information <FY2022 Forecast>
Net sales [Operating profit](Billion yen)

Unit sales(Thousand units)

FY2021

FY2022

ChangeVehicle
Engine

88.3
139.9

93.0
200.0

4.7
60.1

5.2%
42.9%

Car Air‐Conditioning
Compressor

301.6

360.0

58.4

19.4%

Electronics partsand others

61.6

85.0

23.4

37.8%

Automobile

591.6
[4.7]

738.0

146.4

24.7%

Materials Handling
Equipment

1,431.4[109.9]1,470.0

2.7%

Textile Machinery

40.8[(1.1)]

42.0

1.2

2.8%

Others54.3[4.4]

50.0(4.3)(8.0%)

Total

2,118.3[118.1]2,300.0[150.0]181.7[31.9]

8.6%

38.6

FY2021

FY2022

Change323

330

7DieselGasoline

362
403

408
430

4627

Engine765838

73

Car Air-Conditioning
Compressor

27,51032,5004,990

Materials Handling
Equipment

250

306

56

Air-jet loom

4.7

5.0

0.3

Vehicle（RAV4)

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Changes in Operating Profit
Year‐on‐year comparison (FY2021 full year and FY2022 full year forecast)
Operating profit: ¥31.9billion increase (from ¥118.1 billion to ¥150.0 billion)+14.0(Billion yen)

(11.5)(8.0)+49.0Cost
reduction

Increase in
raw material Increase incosts
labor cost

(2.0)
Increase indepreciation

118.1

(1.0)
Negative
impact ofexchange rate
fluctuations

(8.6)
150.0
Increase in
expensesand others

Salesefforts

FY 2021

FY 2022+63.0(31.1)

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Performance <FY2022 Forecast>(Billion yen)

FY2021

FY2022

ChangeInvestments in tangible
assets

113.3

140.0

26.7

23.5%

Depreciation

91.0

93.0

2.0

2.1%

11/30

II. Our Business Initiatives
Materials Handling
Equipment
ＦCar Air‐conditioning
Compressor

12/30

Materials Handling Equipment1. Sales and Forecast
Lift truck
Net sales breakdown

Unit sales of lift trucks(Thousand)・Solid demand withbroad utility

300200

Valuechain・Increase by economic
recovery and expansionof e‐commerce

Newtruck100

Approx. 80%

02021Ｆ22(FY)（Forecast）

Logistics solutions

Order intake of logistics solutions(¥ billion)

450

Net sales breakdown
Approx. 20%

400
350
300
250
200
150 0202122(FY)

・Strong order intake,especially in e‐commerce・Expanding needs forautomation andmanpower saving withsocial distancing
requirement undercorona‐virus crisis（Forecast）

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Materials Handling Equipment
2. Major Activities for Automation (1/3)

 Respond to manpower saving needs by autonomous
tow tractors
・Conducted the first autonomous tow tractor driving demonstration
experiment at Haneda Airport (Equivalent of level3※)・Developed autonomous tow tractor with advanced location tracking※Automate all driving operations under specified conditions.
abilities and driving performance(The driver must be able to return to driving at any time.)

ＦAircraftstandCargo
warehouse

The latest autonomous tow tractor

Autonomous driving routeat Haneda Airport

Aim for conducting trial operation for actual flights in
October 2021, and realizing unmanned driving in 2025
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Materials Handling Equipment
2. Major Activities for Automation (2/3)

 Contribute to working environment improvement
through automated forklifts
・Conducting demonstration experiment in collaboration withNICHIREI LOGISTICS GROUP INC. for automation of forklift operation
in a freezer warehouse (‐25 ℃)
Ｆ

Automated forklift working in a freezer warehouse

Aim for realizing practical use with findings obtained
through the demonstration experiment
15/30

Materials Handling Equipment2. Major Activities for Automation (3/3)

 Accelerate the development of autonomous driving technology– Established new company in April
・Develop comprehensive control system through maximum use of ourcollective strengths of the forklift and the logistics solution businesses
Comprehensive control system
Control software for equipment/vehicle
VisionIoT

Navigation

Ｆ

Comprehensively
control equipment
and vehicles inlogistics sites

SeaportManufacturingsite
Distribution
centerOverall optimizationof logistics
efficiency, safety,and environment

Airport

⾃社および他社の幅広い機器・⾞両をつなぐ16/30

Materials Handling Equipment
3. Major Activities for After Sales Services (1/2)

 Preventive maintenance with forklift operationalmanagement system
・Introduced operational management
system, T_Site to NIPPON GIANT
TYRE CO., LTD, a manufacturer oflarge tires for construction machineryOperational management system “T_Site”

・Reduced unexpected troubles andmaintenance costs with full maintenanceincluding preventive maintenance・Improved safety awareness of operatorsand reduces number of forklift
collisions

Maintenance by highly skilled staff

17/30

Materials Handling Equipment
3. Major Activities for After Sales Services (2/2)

 Conclusion of a long‐term service contract
with a UK hub airport
・Concluded a 10‐year service contract
for all terminals at London Heathrow Airport
・Our reliability of products and services
cultivated through 20 years of business
relationships are highly valued

・Contribute to stable operation andfunctional improvement of baggage
handling system

Automated warehouse for baggage

Baggage pick‐up turntable

18/30

Materials Handling Equipment
4. Major Activities for Logistics Solution Business (1/3)

 Balanced customer industry composition
・Well balanced sales composition such as e‐commerce, parcel andbaggage handling system
・Strong order intake from e‐commerce and parcel, which are close todaily life
Sales break down by industry（FY2020）ＦNISSIN FOODS
Johnson & Johnson
FANUC
Bridgestone
BoeingBOSCHHeathrow (UK)Frankfurt (Germany)
Changi (Singapore)
Atlanta (USA)Food/
Pharmaceuticals
and others
24％
Manufacturer
11％
Baggage
Handling
21％

Retail/Distribution/
e‐commerce
31％
Parcel/Express service
13％

Home Depot
TESCO
TRUSCO NAKAYAMA

DHL
UPS
FedEx

19/30

Materials Handling Equipment
4. Major Activities for Logistics Solution Business (2/3)

 Efforts to expand business ‐ Vanderlande

Logistics center of US major e‐commerce
Ｆcompany by airport
Increasing air freights due to growthof e‐commerce

Logistics center of a major French
food company
Expanding needs in the food industry<Others>

 Order intake for a distribution
center from a major local parcel
handling company in China
Logistics center of a major Dutch
department store
The cutting‐edge high‐speed sorting and storage systems
Introduce into the Japanese market in May

etc.
20/30

Materials Handling Equipment
4. Major Activities for Logistics Solution Business (3/3)

 Efforts to expand business ‐ Bastian

Automated storage and retrieval system for Ｆ
start‐up car manufacturer in North America
Developed with Toyota Industries’
logistics solution team

Toyota's towing truck equipped with
Bastian’s automatic driving function
Started sales at forklift truck dealers<Others>

 Introduced logistics system toa major US e‐commerce company
in collaboration with Vanderlande
Automated loading robots
to a commercial truck, “ULTRA”
Full‐scale introduction into the Japanese market

etc.

21/30

Materials Handling Equipment【Topic】

Renovating Toyota Material Handling Customer Center Tokyo・Exhibits the latest equipment and systems corresponding various needs
・Introduces automated loading robots (Bastian) and high‐speed sortingand storage systems (Vanderlande) as wellＦ

Exterior view

Entrance

Layout Simulator

Full automation using robotics

Semi‐automation where humans
work in harmony with equipment

Solutions experience area

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II. Our Business Initiatives
Materials Handling
Equipment
Ｆ
Car Air‐conditioningCompressor

23/30

Car Air‐Conditioning Compressor
1. Our Compressor Sales and Forecast
Expand sales of both engine and electric driven types
backed by recovery of the automobile market as well as our sales expansion efforts（Thousand units）

GlobalJapan

North America

32,5006,200

27,510〔Major increases〕

5,580

5,700
Nissan/Mitsubishi
Honda（＋2,540）

Electric driven type00

FY22 （Forecast）

FY2126,300

8,300（＋2,450）

6,520〔Major increases〕

ToyotaFordGM

FY21

FY22 （Forecast）

8,350
7,280

Daimler
AUDI/VWBMW
Stellantis

Engine driven type

FY22（Forecast）

FY21〔Major increases〕

China and Others

EuropeFY218,130

Ｆ

3,660

23,850

10,150

FY22 （Forecast）〔Major increases〕

ToyotaDAIHATSU

FY21FY22 （Forecast）

24/30

Car Air‐Conditioning Compressor
2. Broadening Technologies and Sales through the Development of Electric Driven TypeTechnical Improvement
Accumulate know‐how by developing models and elemental technologies
Sharing technical informationand issues with automakers
around the world

Promote sales expansion bytaking advantage of technology
Expansion of Sales

FY2026
Over 10 million

・Sales expansion to car manufacturers all over the world
Ｆ vehicles
in addition to installation in all Toyota electrified
・Order increase for PHVs and EVs as well as HVs

40% increase of coolingand heating capabilities
with high capacity
Contribute tocooling batteries（Thousand units）
10,000FY2006
Miniaturization andweight saving by
integrating theInverter andFY2004
compressor
First mass production
type in the world

FY2017Equipped with gas injection
function for the first time inFY2013
mass produced vehicles
10% better efficiency
Heating capability even below
in power consumption
freezing without engines
FY2016
Improved mountability
Capture the
8% better efficiency inpower consumption
expansion ofFY2010
Smaller size, lighter weight
the electrified
and improved productivity

vehicle market

02004

20052006

2007200820092010

2011

2012

2013

2014

2015

2016

2017201820192020

2021

2022 2023（Forecast）

2024

2025 2026 （FY）
（Forecast）

25/30

Car Air‐Conditioning Compressor
3. Characteristics of Electric Type Compressor and Our Strengths
MachineryComponents

Compresssection

Motor + Inverter

ElectronicComponents

Scroll structure

Ｆ

Machinery Components
Developed with engine type・Design with patented compression technology
・Precise machining/assemble technology⇒ Realize high efficiency in power
consumption and lower noiseElectronic Components
・Developed motor and inverterwith our unique technologies⇒ Realize lower electromagnetic
noise and smaller size/less weight

Realize high product appeal through the strengths ofboth machinery and electronic components
26/30

Car Air‐Conditioning Compressor
Our Strengths in Electric TypexEV

Our Initiatives

Broad product lineup

Applicable to variety of vehicle models
from compact to luxury cars

High efficiency in power
consumption / Lower noise/ Less vibration

・Design with our unique patented technology
・Ensuring product quality and performancein mass production stage by leveraging
precise machining/assemble technology

Support capability
to automakers

PHV・EV

4. Strengths of Electric TypeＦ
Proposal of problem solutions to automakers

Prevention of radio disturbanceon home electrical appliances
while charging EVs

Improvement of inverter performanceachieving lower electromagnetic noise

Improvement of power
consumption efficiency whileheating

Development of high efficiency
compressors for heat pump
air‐conditioning system

Cooling such devices asbatteries

Expand our business field to driving
components with strengths of reliability
27/30

Car Air‐Conditioning Compressor
5. Expansion of business field by leveraging core technologies
Cooling Batteries &Electric devices

Car Interior
Heating

Expand into heating
functions and coolingcomponents

Utilize our strengthsof high efficiency
and reliability
ＦExpand businessfield into drive
train components
Applying our corecompression technology

Car Interior
Cooling
Installed in FCV
New "MIRAI"

Hydrogencirculation pump

Oxygen‐supplying
air compressor

Impeller

Turbocharger

28/30

Topics
 Strong Sales of RAV4 Continues
Electrified Vehicle Ratio in FY2021 Production: More than 60% (HV/PHV)RAV4 PHVＦ HARRIER* received the “Good Design Award”,
which TICO had roles of design→ Selected as “Best 100”
* TICO designed upper body as well as its
exterior and interior design etc.
HARRIER

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Topics
 Efforts to achieve zero CO2 in the European forklift business
Achieved shift to renewableenergy of all electricity
Lift Truck
ManufacturingBases

2018/4

Lift Truck
All Sites and Bases(Manufacturing + Sales)

2021/4

Solar Panels at plant in Sweden

GOAL
ZERO CO2 emissions asa whole by switchingfrom gas to electricity

FY2031

Solar Panels at plant in Italy

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Cautionary Statement with Respect toForward‐Looking Statements
This presentation contains projections of business results as well as statements regarding business plans,
forecasts, strategies, and other forward‐looking statements that are not to be taken as historical fact.
Projections and forward‐looking statements are based on the current expectations and estimates ofToyota Industries and its Group companies. All such projections and forward‐looking statements are basedon management’s assumptions and beliefs derived from the information available to it at the time ofproducing this report and are not guarantees of future performance. You should also be aware thatcertain risks and uncertainties could cause the actual results of Toyota Industries and its Group companies
to differ materially from any projections or forward‐looking statements appearing in this report. Theserisks and uncertainties include, but are not limited to, the following: 1) economic trends, 2) variouscompetitive pressures, 3) changes in relevant laws and regulations, and 4) fluctuations in exchange rates.