-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MvmpEY+IaHTjUj73O+L4p11AWMRWXz+sqQlWDB86FH4hBO6mLGkKE4XjYX++yXoc zR0nN/SpwltnIALe04mGZQ== 0000834071-03-000039.txt : 20030805 0000834071-03-000039.hdr.sgml : 20030805 20030805161727 ACCESSION NUMBER: 0000834071-03-000039 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030630 ITEM INFORMATION: FILED AS OF DATE: 20030805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TOYOTA MOTOR CREDIT CORP CENTRAL INDEX KEY: 0000834071 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] IRS NUMBER: 953775816 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09961 FILM NUMBER: 03823971 BUSINESS ADDRESS: STREET 1: 19300 GRAMERCY PLACE STREET 2: NORTH BUILDING CITY: TORRANCE STATE: CA ZIP: 90509 BUSINESS PHONE: 3107871310 MAIL ADDRESS: STREET 1: 19300 GRAMERCY PLACE STREET 2: NORTH BUILDING CITY: TORRANCE STATE: CA ZIP: 90509 8-K 1 form8k.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 5, 2003 -------------- Toyota Motor Credit Corporation ------------------------------------------------------ (Exact name of registrant as specified in its charter) California 1-9961 95-3775816 - ------------------- ---------------- ------------------- (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) Toyota Motor Credit Corporation 19001 South Western Avenue Torrance, California 90509 - ---------------------------------------------- ------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310) 468-1310 ------------------- Exhibit Index is on Page 2 Page 1 of 3 Item 12. Disclosure of Results of Operations and Financial Condition A copy of the Toyota Motor Credit Corporation's earnings release is attached hereto as Exhibit 99.1. This Form 8-K and the attached exhibit are provided under Item 12 of Form 8-K and are furnished to, but not filed with, the Securities and Exchange Commission. Item 7(c). Exhibits Exhibit Number Description -------------- ----------- 99.1 Earning Release, dated August 5, 2003, of Toyota Motor Credit Corporation. -2- SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TOYOTA MOTOR CREDIT CORPORATION ------------------------------- (Registrant) Date: August 5, 2003 By: /s/ John F. Stillo ------------------ ------------------------------- John F. Stillo Vice President and Chief Financial Officer -3- EX-99 4 er.txt Exhibit 99.1 Earnings Release Toyota Motor Credit Corporation Reports First Quarter results TORRANCE, Calif. August 5, 2003 -- Toyota Motor Credit Corporation ("the Company"), which is marketed under the brands of Toyota Financial Services ("TFS") and Lexus Financial Services ("LFS"), announced earnings for the first quarter 2004. Three Months Ended (in millions) ------------------------- 6/30/03 6/30/02 --------- --------- Net income $ 50 $ (29) Impact of application of SFAS 133, as amended (net of income tax) 21 124 --------- --------- Net income excluding impact of application of SFAS 133, as amended (net of income tax) $ 71 $ 95 ========= =========
Net income has been presented for the three months ended June 30, 2003 and 2002,in accordance with generally accepted accounting principles in the United States ("GAAP"), and also on a basis excluding the impact of adjustments calculated in accordance with Statement of Financial Accounting Standards ("SFAS") No. 133, "Accounting for Derivative Instruments and Hedging Activities," and related amendments ("SFAS 133, as amended"). Management believes that providing a summary of net income excluding the effects of SFAS 133, as amended, provides useful information to investors for the reasons explained below, and a more balanced representation of the Company's operating results. Management uses this measure when analyzing its core operating results. The Company uses a variety of derivative instruments to manage interest rate and foreign exchange exposures arising from the relationship between the Company's funding programs and earning asset portfolio. The Company does not use derivative instruments for trading purposes. -1- In accordance with SFAS No. 133, as amended, the effect of interest rate movements on portfolio-based derivative instruments and the ineffective portion of the Company's fair value hedge relationships must be included in the Company's financial results. Under GAAP, the effect of market interest rate movements on the Company's related earning assets is not included in the Company's financial results. Management believes that including in the Company's financial results the effect of market interest rate movements on its portfolio-based derivative instruments and the ineffective portion of the Company's fair value hedges in accordance with SFAS No. 133, as amended, while not including any corresponding valuation adjustment related to earning assets, does not provide a complete picture of the economics of the Company's business and its operating performance. Therefore, the Company reports financial results on a basis that includes, as well as excludes, the impact of the application of SFAS 133, as amended. TFS and LFS are the finance and insurance brands for Toyota and Lexus respectively in the United States. They primarily offer retail auto financing and leasing, and wholesale auto financing through the Company, and extended service contracts through Toyota Motor Insurance Services. The Company is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly owned subsidiary of Toyota Motor Corporation. -2- -----END PRIVACY-ENHANCED MESSAGE-----