July 1, 2004 - Torrance, CA - Toyota Motor Sales (TMS), U.S.A., Inc., today reported its best-ever first-half sales in 47 years of business in the U.S. with calendar-year-to-date (CYTD) sales of 1,004,636. June sales of 170,366, an increase of 5.2 percent over last June, contributed to a record-setting second quarter with sales of 539,915 units.

"There's no doubt that higher gasoline prices over the last few months have temporarily affected retail spending," said Jim Press, TMS executive vice president and COO. "However, we're already seeing a rise in consumer confidence and a softening of fuel prices. The combination should result in an upswing in industry sales this summer."

The Toyota Division posted its best-ever June with 147,299, up 5.1 percent. The Lexus Division reported best-ever June sales with 23,067 units sold, an increase of 5.7 percent.

Toyota Division passenger cars recorded June sales of 82,683, up 6.8 percent over the same period last year. Camry, the number-one-selling car in America, led sales with strong June sales of 37,603, up 6.8 percent. The Prius gas-electric hybrid mid-size sedan posted best-ever June sales of 4,219. Sales of the MR2 Spyder convertible were up 7.4 percent.

Toyota Division light truck sales were up 3.0 percent, with 64,616 units sold. The Sienna sales momentum stayed strong with best-ever June sales of 13,681, up 25.3 over last year's record June. The Highlander mid-size sport utility vehicle (SUV) also enjoyed a best-ever June, with sales of 10,891, up 9.4 percent. The RAV4 SUV posted sales of 5,578 units, an increase of 1.0 percent. Tundra full-size pickup sales rose 1.4 percent with 8,901 units sold, while Tacoma compact pickup sales were at 12,891, up 0.1 percent.

June marked Scion's one-year sales anniversary. Scion, the new line of vehicles from Toyota that started out with sales in California only, is now available nationwide. Scion reported its fifth-consecutive best-ever sales month with 8,168 units sold. The popular xB urban utility vehicle led Scion sales, recording its best-ever selling month with 5,235 units sold. The xA subcompact also posted its best-ever sales month with 2,933 units sold. CYTD sales for Scion total 31,223.

Lexus Division passenger car sales were up 0.8 percent with total sales of 11,132. The ES 330 luxury sedan posted June sales of 6,036, up 5.0 percent. Sales of the LS 430 flagship luxury sedan increased 50.2 percent, with 2,486 units sold.

Lexus light trucks reported record June sales of 11,935, up 10.7 percent. The RX 330 luxury SUV recorded best-ever June sales of 8,760 units, an increase of 14.1 percent. The GX 470 mid-size luxury SUV posted best-ever June sales of 2,502, up 1.3 percent over the same period last year. Sales of the LX 470 full-size luxury SUV were up 5.7 percent, with 673 units sold.

Sales of North American-built vehicles accounted for 65.4 percent of total June sales. There were 25 selling days this sales month compared to 24 last June.

May 11, 2004 - Tokyo, Japan - TOYOTA MOTOR CORPORATION (TMC) announced today consolidated and unconsolidated operating results for the fiscal year ended March 31, 2004.

Toyota's consolidated financial results are reported in accordance with U.S. generally accepted accounting principles (U.S. GAAP). For the purposes of comparison, fiscal year 2003 figures have also been restated according to U.S. GAAP.

On a consolidated basis, net revenues for the twelve months ended March 31, 2004, increased 11.6 percent year-over-year to 17.29 trillion yen. Operating income reached a new high at 1.66 trillion yen, an increase of 395.2 billion yen, or 31.1 percent, over the previous fiscal year. Net income climbed 54.8 percent, or to 1.16 trillion yen. All of these figures marked record highs.

Basic earnings per share for the year was 342.90 yen, an increase of 131.58 yen over the fiscal year ended March 31, 2003.

Positive contributions to operating income included 320 billion yen in improved marketing efforts, 230 billion yen in cost reduction efforts, and a 107.0 billion yen gain from the transfer of the substitutional portion of the employee pension fund to the government. These gains offset the negative effects of changes in exchange rates (140 billion yen) and a 121.8 billion yen increase in labor costs and other expenses.

Unconsolidated net revenues and ordinary income for the fiscal year also increased, with net sales reaching 8.96 trillion yen, an increase of 2.6 percent versus last year. Ordinary income increased 2.6 percent to 915.7 billion yen.

TMC also announced a second-half cash dividend for the six months ended March 31, 2004 of twenty-five yen, an increase of five yen per share compared with the same period last fiscal year. Total dividend payout for the full year was forty-five yen per share, an increase of nine-yen year-over-year. TMC has increased its dividend for five consecutive terms, and the payout has almost doubled over that span.

Commenting on the results, TMC President Fujio Cho said, "In fiscal year 2004, Toyota's consolidated vehicle sales increased in all regions to 6.71 million units. As a result, our production reached full capacity, leading to improved profitability at our subsidiaries. Overall, operating profits of our subsidiaries have increased almost 300 percent over the past five years. Clearly, we are benefiting from our efforts to strengthen our overseas operations and create a global business model that is more resistant to market fluctuations and currency exchange risk."

In Japan, despite difficult market conditions, demand for new models like the new Raum, SIENTA, and Crown contributed to higher sales than last year. Toyota's share of the domestic market (excluding mini-vehicles) for the twelve months ended March 31, 2004 was 42.9 percent, up 0.6 percent from the previous fiscal year.

Sales in North America reached 2.10 million vehicles, an increase of 121 thousand vehicles, mainly due to the strong popularity of models including the Sienna, Lexus RX330 and Corolla.

In Europe, favorable sales, mainly of the new Avensis and other core models such as the Yaris and Corolla, resulted in total sales of 898 thousand units, an increase of 122 thousand units over last year.

Sales in other regions including Asia, the Middle East and Oceania improved to reach 1.41 million vehicles, an increase of 277 thousand units. In Asia specifically, sales increases have exceeded the market's rate of recovery since the economic crisis.

TMC also announced its forecast for the fiscal year ending March 31, 2005. Based on an exchange rate of 105 yen to the U.S. dollar and 125 yen to the euro, TMC forecasts unconsolidated net sales of nine trillion yen, ordinary income of 830 billion yen and net income of 520 billion yen.

TMC estimates that consolidated vehicle sales for the fiscal year ending March 31, 2005 will be 7.02 million vehicles.

Cho concluded by commenting on the consolidated profit outlook for the fiscal year ending March 31, 2005. "With a number of important domestic and overseas projects underway, we recognize the uncertainties we're facing in both the foreign exchange and interest rate environment. In responding to these challenges, Toyota will continue its sales and cost reduction efforts and work hard to maintain the profit levels of the fiscal year ending March 2004."


Cautionary Statement with Respect to Forward-Looking Statements
This release contains forward-looking statements that reflect Toyota's plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro and the British pound; (iii) Toyota's ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies affecting Toyota's automotive operations, in the markets in which Toyota operates, particularly laws, regulations and policies relating to trade restrictions, environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies affecting Toyota's other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota's ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota's actual results, performance, achievements or financial position is contained in the "Operating and Financial Review and Prospects" and "Information on the Company" sections and elsewhere in Toyota's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.

Tuesday, August 3, 2004


By YURI KAGEYAMA
AP Business Writer

Toyota Motor Corp. reported Tuesday a nearly 29 percent rise in profit for the latest quarter on strong sales in North America and Europe, prompting Japan's top automaker to lift its vehicle sales forecast for the full fiscal year.

Toyota's net group profit for the April-June quarter totaled 286.6 billion yen ($2.6 billion), up from 222.5 billion yen the same period a year ago. Sales jumped 10 percent to 4.51 trillion yen ($41 billion) from 4.09 trillion yen.

"Our ongoing efforts to introduce products that meet the needs of our customers as well as the strengthening of our production and sales organization led to increased profits in all regions," Toyota executive vice president Ryuji Araki said.

Toyota raised its global vehicle sales target for the fiscal year ending March 31, 2005, to 7.2 million vehicles, an increase of 180,000 vehicles from an earlier forecast in May. Toyota sold 6.7 million vehicles around the world last fiscal year.

Toyota has recently marked success with its Prius models, which run on both an electric motor and a regular gasoline engine to deliver good mileage and an ecological ride. Although other automakers also sell or are developing such hybrid vehicles, Toyota has an edge in hybrids.

Toyota said Tuesday that it plans to boost the monthly production capacity of the Prius, now made solely in Japan, to 15,000 vehicles from 10,000, starting in the first half of next year.

In the first fiscal quarter, Toyota sold 1.79 million vehicles worldwide, up by more than 12 percent from 1.59 million a year ago. Sales in North America rose by 63,000 vehicles, or 12 percent, to 572,000 vehicles, partly because of the popularity of the Sienna truck model.

In Europe, models made there such as the Corolla Verso helped boost sales by 13,000, or nearly 6 percent, to 247,000 vehicles in the quarter.

Japan, where the auto market has long been sluggish, was one region where Toyota sold slightly fewer vehicles at 538,000, down nearly 1 percent from a year ago. But Toyota's market share in Japan excluding tiny minicars stood at 46.1 percent, the highest ever for the company for quarterly results.

Sales in other regions, such as Asia, Africa and South America, were strong, climbing by about 40 percent from the previous year. Sales in Asia outside Japan recorded a dramatic 65 percent rise, and Toyota is expecting the numbers to grow, it said.

Toyota said marketing efforts added 170 billion yen ($1.5 billion) to the quarterly results, while cost cuts added another 40 billion yen ($361 million), outpacing operating losses, including 70 billion yen ($631 million) from an unfavorable exchange rate.

The U.S. dollar cost 110 yen in the latest quarter, down from 119 yen a year ago, according to Toyota. A strong yen hurts the earnings of Japanese exporters like Toyota.