Consolidated Balance Sheets
Consolidated Balance Sheets

Toyota Industries Corporation
As of March 31, 2004 and 2003
Thousands of
U.S. dollars (Note 1)

Millions of yen

ASSETS

2004

2003

2004

Current assets:
Cash and cash equivalents

77,212¥ 136,929

144,575

119,048

1,367,916

228

3,692

2,157

Inventories (Note 6)

77,574

69,141

733,977

Deferred tax assets (Note 15)

17,534

14,072

165,900

Other current assets

35,12830,925332,368

Less — allowance for doubtful accounts(2,337)(1,999)(22,112)349,914

371,808

3,310,758

Buildings and structures (Notes 8 and 16)

124,423

118,449

1,177,245

Machinery, equipment and vehicles (Notes 8 and 16)

160,787

157,733

1,521,308

Tools, furniture and fixtures (Note 16)

15,56516,007

147,270

Trade notes and accounts receivable (Note 8)
Short-term investments (Note 5)

Total current assets¥$730,552

Fixed assets:
Property, plant and equipment:

Land (Note 8)

71,78756,255679,222

Construction in progress

16,835

13,749159,286

Total property, plant and equipment

389,397362,1933,684,331

Software11,993

9,195

113,473

Goodwill

87,86387,578

831,328

Total intangible assets

99,856

96,773

944,801

1,095,031

745,909

10,360,781

23,20816,431

219,586

Intangible assets:

Investments and other assets:
Investments in securities (Notes 5 and 8)
Unconsolidated subsidiaries and affiliated companies
Long-term loans

9,756

10,522

92,308Long-term prepaid expenses

13,55415,082

128,243

Deferred tax assets (Note 15)

3,538

2,863

33,475

Other investments and other assets (Note 14)

27,991

29,057

264,841

Less — allowance for doubtful accounts

(250)

(247)

(2,366)

Total investments and other assets

1,172,828

819,617

11,096,868

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

50

ANNUAL REPORT 2004 — TOYOTA INDUSTRIES CORPORATION

1,662,081

1,278,583

15,726,000¥2,011,995¥1,650,391$19,036,758

LIABILITIES AND SHAREHOLDERS’ EQUITY

2004

2003

2004

¥ 129,822¥ 117,424$ 1,228,328

Short-term bank loans (Note 8)

70,442

78,053

666,496

Commercial paper

15,000–141,925–

20,000–Current liabilities
Trade notes and accounts payable

Current portion of bonds
Current portion of convertible bonds–75,692–

Other payables

19,067

17,406

180,405

Accrued expenses

51,58742,027

488,097

Accrued income taxes

8,845

14,144

83,688Deposits received from employees

19,497

19,234

184,474

Deferred tax liabilities (Note 15)

2,743

1,192

25,953

Other current liabilities (Note 8)

9,334

8,193

88,315326,337

393,365

3,087,681

200,300

200,300

1,895,165

Total current liabilities

Consolidated Balance Sheets

Thousands ofU.S. dollars (Note 1)

Millions of yen

Long-term liabilities:Bonds (Note 7)Long-term debt (Notes 7 and 8)

35,22536,577333,286

Deferred tax liabilities (Note 15)346,336

212,355

3,276,904

Allowance for retirement benefits (Note 14)34,264

34,100324,193

Other long-term liabilities

17,843

10,833

168,824

633,968

494,165

5,998,372

Total liabilities

Total long-term liabilities

960,305

887,530

9,086,053

Minority interest in consolidated subsidiaries

34,92623,993

330,457

80,46368,047

761,311

Capital surplus

105,743

89,3651,000,501

Retained earnings

294,672

269,3812,788,078

Net unrealized gains on other securities

534,079

331,668

5,053,260

Foreign currency translation adjustments

19,783

16,890187,180

Treasury stock at cost — 8,174,958 shares as of March 31, 2004

(17,976)(36,483)(170,082)

Total shareholders’ equity

1,016,764

738,868

9,620,248

Total liabilities and shareholders’ equity¥2,011,995¥1,650,391$19,036,758

Shareholders’ equity (Note 10):
Common stock:
Authorized — 1,091,245,000 shares
Issued—325,840,640 shares as of March 31, 2004
313,324,451 shares as of March 31, 2003

20,547,253 shares as of March 31, 2003

ANNUAL REPORT 2004 — TOYOTA INDUSTRIES CORPORATION51