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Toyota/Lexus/Scion Pressroom: Toyota Announces Year-End Financial Results

May 8, 2008
Toyota Announces Year-End Financial Results
Achieves Record Net Revenues, Operating Income and Net Income
(All consolidated financial information has been prepared in accordance with
accounting principles generally accepted in the United States of America)
Tokyo — TOYOTA MOTOR CORPORATION (TMC) today announced operating results for the fiscal year ended
March 31, 2008.
On a consolidated basis, net revenues for the fiscal year ended March 31, 2008 totaled 26.29 trillion yen, an increase
of 9.8 percent compared to the last fiscal year. Operating income increased 1.4 percent to 2.27 trillion yen, and
income before income tax, minority interest and equity in earnings of affiliated companies was 2.44 trillion yen. Net
income increased 4.5 percent to 1.72 trillion yen. All of these figures marked record results.
Operating income increased by 31.7 billion yen to 2.27 trillion yen, due to positive contributions of 290.0 billion yen
from marketing efforts and 120.0 billion yen from cost reduction efforts, and negative factors including 48.1 billion yen
of valuation losses on interest rate swaps. Excluding this 48.1 billion yen, operating income on a non-USGAAP basis
increased substantially by 79.8 billion yen to 2.34 trillion yen. Equity in earnings of affiliated companies increased by
60.6 billion yen to 270.1 billion yen, due to strong results of joint venture companies in China.
Commenting on the results, TMC President Katsuaki Watanabe said, "For this fiscal year, we posted our highest ever
results in both revenue and profits. There are two key points for these results. First, our profit structure has become
more geographically balanced, with growing contribution from resource-rich countries and emerging countries. We
believe our growth strategy of utilizing every opportunity across the full product line-up and in all regions have shown
strong results. Second, net income has steadily increased due to the growth of operating profit from global operations
and equity in earnings of affiliated companies. Growth of equity in earnings has been particularly strong and has more
than doubled over the last four years, mainly due to the rapid growth of Chinese operations."