Document:

EXHIBIT 4a

               FY2004 First Quarter Consolidated Financial Results
                      (April 1, 2003 through June 30, 2003)

   (All financial information has been prepared in accordance with accounting
         principles generally accepted in the United States of America)
        English translation from the original Japanese-language document

                                                                 August 5, 2003

Company name                                     : Toyota Motor Corporation
Stock exchanges on which the shares are listed   : Tokyo, Nagoya, Osaka, Fukuoka
                                                   and Sapporo Stock Exchanges
                                                   in Japan
Code number                                      : 7203
Location of the head office                      : Aichi Prefecture
URL                                              : http://www.toyota.co.jp
Representative                                   : Fujio Cho, President
Contact person                                   : Takahiko Ijichi, General
                                                   Manager, Accounting Division
                                                   Tel. (0565) 28-2121
Whether or not to be prepared in accordance      : Yes
with accounting principles generally accepted
in the United States

Results of FY2004 first quarter (April 1, 2003 through June 30, 2003)

<TABLE>
<CAPTION>
(1) Consolidated financial results                                                (Amounts are rounded to the nearest million yen.)
-----------------------------------------------------------------------------------------------------------------------------------
                                                                                              Income before income taxes,
                               Net revenues                   Operating income              minority interest and equity in
                                                                                            earnings of affiliated companies
-----------------------------------------------------------------------------------------------------------------------------------
                           Million yen        %           Million yen            %               Million yen               %
<S>                         <C>           <C>               <C>             <C>                   <C>                <C>
FY2004 first quarter         4,092,939    (5.6)               340,772      (-13.2)                  371,279          (-12.1)
FY2003 first quarter         3,877,673                        392,573                               422,281
-----------------------------------------------------------------------------------------------------------------------------------
FY2003                      15,501,553                      1,271,646                             1,226,652
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
                                Net income                  Net income per share                  Net income per share
                                                                  - basic                              - diluted
-----------------------------------------------------------------------------------------------------------------------------------
                           Million yen        %                             Yen                                   Yen
<S>                            <C>       <C>                              <C>                                  <C>
FY2004 first quarter           222,585   (-9.7)                            64.83                                    -
FY2003 first quarter           246,365                                     68.38                                    -
-----------------------------------------------------------------------------------------------------------------------------------
FY2003                         750,942                                    211.32                               211.32
-----------------------------------------------------------------------------------------------------------------------------------
Note:   Regarding net revenues, operating income, income before income taxes, minority interest and equity in earnings of
        affiliated companies and net income, the figures in parentheses show percentage of changes from the corresponding period
        of the preceding year.
</TABLE>

<TABLE>
<CAPTION>
(2) Consolidated financial position
-----------------------------------------------------------------------------------------------------------------------------------
                               Total assets      Shareholders' equity          Ratio of                   Shareholders' equity
                                                                         shareholders' equity                   per share
-----------------------------------------------------------------------------------------------------------------------------------
                               Million yen           Million yen                            %                          Yen
<S>                             <C>                   <C>                                <C>                      <C>
FY2004 first quarter            20,901,504            7,363,029                          35.2                     2,151.05
FY2003                          20,152,974            7,121,000                          35.3                     2,063.43
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Note 1:  Effective from FY2004 first quarter, Toyota prepares its consolidated
         financial statements in accordance with accounting principles generally
         accepted in the United States of America. The consolidated financial
         statements for FY2003 first quarter and FY2003 are also prepared in
         accordance with accounting principles generally accepted in the United
         States of America.
     2:  No diluted net income per share is reported because no potential shares
         with dilutive effects existed in FY2004 first quarter and FY2003 first
         quarter.EXHIBIT 4b

Supplement

                                                                 August 5, 2003
                                                       Toyota Motor Corporation

      Comparison of Consolidated Financial Results for FY2003 First Quarter
                  under Japanese and U.S. Accounting Standards

<TABLE>
<CAPTION>
FY2003 first quarter (April 1, 2002 - June 30, 2002)                                                               (Billions of yen)
------------------------------------------------------------------------------------------------------------------------------------
                                                                          Differences
                                      ------------------------------------------------------------------------------------

                                           (1)             (2)          (3)            (4)               (5)
Category                 Japanese        Scope of       Reporting     Foreign        Gains on         Impairment    Other    U.S.
                         standards    consolidation      category     currency      transfer of          of               standards
                                                        of equity    translation   the substantial   marketable
                                                       in earnings      and         portion of       securities
                                                      of affiliated  derivatives   the employee
                                                        companies                  pension fund
------------------------------------------------------------------------------------------------------------------------------------
<S>                         <C>            <C>           <C>           <C>          <C>               <C>            <C>      <C>
Net                       4,021.1         (114.2)           -            -              -                 -        (29.3)   3,877.6
revenues

Income before
income taxes,
minority interest and       613.6          (13.6)        (33.7)        33.0         (162.5)           (23.9)         9.3      422.2
equity in earnings of
affiliated companies
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

(1) Scope of Consolidation
    Under the U.S. standards, the determination of which subsidiaries are
    included in the scope of consolidation is made on the basis of ownership
    (more than 50%), and consequently, those subsidiaries that are consolidated
    according to the control basis under the Japanese standards are excluded
    from the scope of consolidation.

(2) Reporting Category of Equity in Earnings of Affiliated Companies
    "Equity in earnings of affiliated companies" reported under the Japanese
    standards as non-operating income is not included in "income before income
    taxes, minority interest and equity in earnings of affiliated companies"
    under the U.S. standards, therefore the figure for this item has been
    reclassified.

(3) Foreign Currency Translation and Derivatives
    The difference mainly relates to the valuation profits or losses on foreign
    exchange forward contracts outstanding at the end of the period which are
    recognized as "foreign exchange gain or lose" in the statements of income
    under the U.S. standards while deferred as assets or liabilities under the
    Japanese standards.

(4) Gains on Transfer of the Substitutional Portion of the Employee Pension Fund
    Under the U.S. standards, gains or losses on transfer of the substitutional
    portion of the employee pension fund are recognized at the time of the
    actual transfer, therefore "gains on transfer of the substitutional portion
    of the employee pension fund," recognized under the Japanese standards, is
    not included.

(5) Impairment of Marketable Securities
    Impairment losses of certain marketable securities whose acquisition costs
    under the U.S. standards exceed those under the Japanese standards are
    recognized.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00054-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00054-of-00352.parquet"}]]