Japanese

Message

To Our Shareholders and Other Investors

We would like to take this opportunity to express our deepest appreciation to our shareholders and other investors for your support of Toyota Industries Corporation and the Toyota Industries Group.

Regarding our interim financial results, both consolidated net sales and ordinary income achieved record highs due primarily to the strong performance of the Automobile and Materials Handling Equipment segments, marking increases for the eighth consecutive year. For the full fiscal year ending March 2008, increases in both net sales and profits are forecast for the 9th consecutive year.

Toyota Industries will distribute an interim cash dividend of 28 yen per share, an increase of 6 yen per share over the previous fiscal year. This marks the seventh consecutive year of an increase in interim cash dividends. Our dividend policy is to pay dividends that meet the expectations of our shareholders, taking into consideration such factors as our business results and fund requirements, while also placing emphasis on the consolidated payout ratio.

We are making a concerted effort to implement a variety of initiatives based on our basic philosophy of "Toyota Industries believes that economic growth and conservation of the natural environment are compatible. It strives to offer products and services that are clean, safe and of high quality."

During the first half of fiscal 2008, we sought to expand our role within the Toyota Group in the automobile field. Such efforts included the development of the VD clean diesel engine (fitted in the Toyota Land Cruiser for overseas markets) that drastically reduces environmental load as well as the start of production under consignment of the Mark X ZiO, a new concept car developed by Toyota Motor Corporation and Toyota Industries.

We will continue to make Group-wide efforts to attain the goals laid out in our medium-term management plan. We believe a solid business performance is the result of diverse management initiatives. Bearing that in mind, we will refocus on the basics of manufacturing, strengthen our corporate constitution and introduce products that satisfy customers worldwide as we make unceasing efforts to further raise our corporate value.

In closing, we ask our shareholders and other investors for your continued understanding and support.

 

November 2007

Chairman Tadashi Ishikawa
President Tetsuro Toyoda

Chairman Tadashi Ishikawa / President Tetsuro Toyoda

Chairman Tadashi Ishikawa
/ President Tetsuro Toyoda

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