Interim Results

Toyota Motor Corporation
07 November 2007

                                                           For immediate release

                                                                November 7, 2007


                      Toyota Announces Semi-Annual Results

Net Revenues, Operating Income and Net Income Mark New Record for the First Half

  (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
six months ended September 30, 2007.


On a consolidated basis, net revenues for the first half of the fiscal year
totaled 13.01 trillion yen, an increase of 13.4 percent compared to the same
period last fiscal year.  Operating income increased 16.3 percent to 1.27
trillion yen, while income before income taxes, minority interest and equity in
earnings of affiliated companies was 1.36 trillion yen.  Net income increased
21.3 percent to 942.4 billion yen.


Positive contributions to operating income totaled 330.0 billion yen, consisting
of 150.0 billion yen from changes in foreign exchange rates, 130.0 billion yen
from marketing efforts and 50.0 billion yen from cost reduction efforts.
Negative factors totaled 151.3 billion yen.


TMC also announced an interim cash dividend of 65 yen per share for the first
half of the fiscal year, an increase of 15 yen per share compared with the same
period last fiscal year.


Commenting on the results, TMC Executive Vice President Mitsuo Kinoshita said,

'For this period, we posted record results in both revenues and profits. We
believe our efforts to build a globally balanced operational foundation
contributed to these results. Net income has increased by nearly 70 percent over
the last two years, due to a substantial increase in earnings by companies
accounted for under the equity method, as well as increase in operating income.'



Consolidated vehicle sales for this period reached a record high of 4.301
million units, an increase of 156 thousand units over the same period last
fiscal year.


In Japan, vehicle sales decreased by 67 thousand units, to 1.006 million units.
Operating income increased by 88.9 billion yen, to 773.3 billion yen, mainly due
to improvements in the model mix of domestic and export sales, including strong
sales of the Lexus LS models.


Vehicle sales in North America totaled 1.497 million units, an increase of 33
thousand units, due to steady sales including the redesigned Tundra and the
Prius. Operating income increased by 3.6 billion yen, to 254.1 billion yen.


In Europe, vehicle sales increased by 46 thousand units, to 635 thousand units,
due to strong sales of the redesigned Corolla and the Auris which has been
manufactured locally since early 2007.  Operating income increased by 2.3
billion yen, to 68.3 billion yen. Strong Russian sales of Lexus models, the
Camry and the Corolla contributed to this result.


Sales in Asia increased by 70 thousand units, to 452 thousand units. Operating
income increased by 55.4 billion yen, to 116.7 billion yen, mainly due to brisk
sales recovery in the Asian markets including Indonesia. Our consolidated
subsidiaries in China also made a substantial contribution to the results, due
to strong sales of Lexus models.


In other regions, including Central and South America, Oceania and Africa,
vehicle sales increased to 711 thousand units, an increase of 74 thousand units,
due to steady sales of the IMV series and the redesigned Camry.  Operating
income increased by 35.6 billion yen, to 71.7 billion yen.


TMC estimates that consolidated vehicle sales for the fiscal year ending March
31, 2008 will be 8.93 million units, which is an upward revision from TMC's
initial forecast of 8.89 million units announced in May 2007.  Additionally,
consolidated net revenues were revised to 25.5 trillion yen (from 25.0 trillion
yen), operating income to 2.30 trillion yen (from 2.25 trillion yen) and net
income to 1.70 trillion yen (from 1.65 trillion yen).


Commenting on the outlook for consolidated profit for the fiscal year ending
March 31, 2008, Kinoshita said, 'We aim to achieve higher levels of revenues and
profits through further increase of vehicle sales and cost reductions.'


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

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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 and
market demand 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 in the markets in which Toyota operates that affect Toyota's
automotive operations, particularly laws, regulations and government policies
relating to trade, environmental protection, vehicle emissions, vehicle fuel
economy and vehicle safety, as well as changes in laws, regulations and
government policies that affect 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.




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