Interim Results 1/5

Toyota Motor Corporation
04 November 2005

                                                           For immediate release

                                                                November 4, 2005



                      Toyota Announces Semi-Annual Results

              Achieves record high vehicle sales and net revenues

  (All consolidated financial information has been prepared in accordance with

         accounting principles generally accepted in the United States)



Tokyo - TOYOTA MOTOR CORPORATION (TMC) today announced operating results
for the six months ended September 30, 2005.



On a consolidated basis, net revenues for the period totaled 9.95 trillion yen,
an increase of 10.3 percent compared to the same period last fiscal year.
Operating income decreased 6.6 percent to 809.4 billion yen, while income before
income taxes, minority interest and equity earnings of affiliated companies was
855.9 billion yen.  Net income was 570.5 billion yen.



Positive contributions to operating income totaled 150.0 billion yen and
included marketing efforts of 70.0 billion yen, cost reduction efforts of 60.0
billion yen and the effects of exchange rate changes of 20.0 billion yen.
Negative factors totaled 206.8 billion yen, including an increase in expenses
due to business expansion of 197.7 billion yen, and a decrease in the gains
recognized from the transfer of the substitutional portion of the employee
pension fund to the government of 9.1 billion yen.



TMC also announced a first-half cash dividend of 35 yen per share for the six
months ended September 30, an increase by 10 yen per share compared with the
same period last year.



Commenting on the results, TMC Executive Vice President Mitsuo Kinoshita said,
'We attained a high level of profit while expanding production capacity and
developing advanced technology and future products in response to strong demand
worldwide.'



Consolidated vehicle sales for the six months reached a record high of 3.833
million vehicles, an increase of 266 thousand vehicles compared with the same
period of the last fiscal year.



In Japan, Lexus was launched in August as a new global premium brand. Because of
the lack of new mass market vehicle introductions, however, sales decreased by
20 thousand vehicles to 1.086 million vehicles compared with the same period of
the last fiscal year.



In North America, the strong popularity of the new Avalon, Prius, new Tacoma
pick-up trucks and the Scion lineup helped sales increase by 119 thousand
vehicles to 1.245 million vehicles.



In Europe, the newly introduced Aygo, produced in a joint-venture with PSA
Peugeot Citroen and the Corolla contributed to a sales increase of 22 thousand
vehicles to 498 thousand vehicles.



Sales in Asia, which have been reported as an independent geographical segment
since the first quarter, rose to 448 thousand vehicles, an increase of 62
thousand vehicles.  This increase was mainly due to the successful launch of the
IMV (Innovative International Multi-purpose Vehicle) project.



Sales in other regions including Africa and Central and South America reached
556 thousand vehicles, an increase of 83 thousand vehicles.



TMC estimates that consolidated vehicle sales for the fiscal year ending March
31, 2006 will be 8.03 million vehicles, an increase of 60 thousand vehicles from
the forecast announced in August 2005.



TMC also announced amendments to its annual prospects for unconsolidated
financial results.  The company's exchange rate assumption was revised from 105
yen to the dollar to 110 yen.  TMC's net income projection was increased by 170
billion yen to 670 billion yen compared with the previous projection announced
in May 2005.



Kinoshita concluded by commenting on the consolidated profit outlook for the
fiscal year ending March 31, 2006.  'Assuming that the U.S. dollar is at 110 yen
per dollar, we aim to exceed last year's revenues and profits. We will also
strive to offset the increase in business expansion costs through marketing and
cost reduction efforts.'



(Please see attached information for details on financial results. Further
information is also available on the Internet at http://www.toyota.co/.jp)



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, the Australian dollar 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, particularly laws, regulations and policies relating to
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 Toyota's annual report on
Form 20-F, which is on file with the United States Securities and Exchange
Commission.


                      This information is provided by RNS
            The company news service from the London Stock Exchange