TOYOTA: News Releases

September 20, 2006

Unconsolidated Financial Results: Notice Concerning Amendment to the Forecast of FY2007 Semi-Annual

Based on recent developments in our business performance, we, Toyota Motor Corporation ("TMC"), hereby amend, as below, our unconsolidated financial forecast for Fiscal Year 2007 Semi-Annual (from April 1, 2006 to September 30, 2006), announced on May 10, 2006:

1. Amendment to the forecast of Fiscal Year 2007 Semi-Annual (from April 1, 2006 to September 30, 2006)

	Net revenues	Operating income	Ordinary income	Net income
Forecast before amendment (A)	5,200 billion yen	370 billion yen	560 billion yen	380 billion yen
Forecast after amendment (B)	5,500 billion yen	540 billion yen	740 billion yen	500 billion yen
Amount changed (B - A)	300 billion yen	170 billion yen	180 billion yen	120 billion yen
% of change	5.8%	45.9%	32.1%	31.6%
(Reference) Actual results of the corresponding period of the preceding year (FY2006 ending March 31, 2006)	4,664 billion yen	297.6 billion yen	416.6 billion yen	283.6 billion yen

2. Reasons for the Amendment

The forecast of Fiscal Year 2007 Semi-Annual is expected to increase from the previously announced forecast, due to a weaker yen than the initially anticipated exchange rate and an increase in sales in the overseas markets.

[Note]

This report contains forward-looking statements that reflect TMC'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 TMC'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 TMC 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) TMC's ability to realize production efficiencies and to implement capital expenditures at the level and times planned by management; (iv) changes in the laws, regulations and government policies in the markets in which TMC operates that affect TMC's automotive operations, particularly laws, regulations and 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 TMC's other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which TMC operates; (vi) TMC'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 TMC 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 TMC's actual results, performance, achievements or financial position is contained in TMC's annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.