EX-99.1 2 dp33653_ex9901.htm EXHIBIT 99.1
Exhibit 99.1
 


[GRAPHIC OMITTED]

TOYOTA
FINANCIAL SERVICES

Presentation Materials for Investors

October 2012


 
 
 

 
 
 




Disclaimer

o    This presentation includes certain "forward-looking statements" within the meaning of The U. S.
     Private Securities Litigation Reform Act of 1995.

o    These statements are based on current expectations and currently available information.

o    Actual results may differ materially from these expectations due to certain risks,
     uncertainties and other important factors, including the risk factors set forth in the most
     recent annual and periodic reports of Toyota Motor Corporation and Toyota Motor Credit
     Corporation

o    We do not undertake to update the forward-looking statements to reflect actual results or
     changes in the factors affecting the forward-looking statements.

o    This presentation does not constitute an offer to sell or a solicitation of an offer to
     purchase any securities. Any offer or sale of securities will be made only by means of a
     prospectus and related documentation.

2


 
 
 

 
 
 



Disclaimer

o    This presentation includes certain "forward-looking statements" within the meaning of The U. S.
     Private Securities Litigation Reform Act of 1995.

o    These statements are based on current expectations and currently available information.

o    Actual results may differ materially from these expectations due to certain risks,
     uncertainties and other important factors, including the risk factors set forth in the most
     recent annual and periodic reports of Toyota Motor Corporation and Toyota Motor Credit
     Corporation

o    We do not undertake to update the forward-looking statements to reflect actual results or
     changes in the factors affecting the forward- looking statements.

o    This presentation does not constitute or form part of and should not be construed as, an offer
     to sell or issue or the solicitation of an offer to purchase or subscribe for securities of
     TMCC in any jurisdiction or an inducement to enter into investment activity in any
     jurisdiction. Neither this presentation nor any part thereof, nor the fact of its distribution,
     shall form the basis of, or be relied on in connection with, any contract or commitment or
     investment decision whatsoever. Any offer or sale of securities by TMCC will be made only by
     means of a prospectus and related documentation.

o    Investors and prospective investors in securities of TMCC are required to make their own
     independent investigation and appraisal of the business and financial condition of TMCC and the
     nature of its securities. This presentation does not constitute a recommendation regarding
     securities of TMCC. Any prospective purchaser of securities in TMCC is recommended to seek its
     own independent financial advice.

o    This presentation is made to and directed only at (i) persons outside the United Kingdom, or
     (ii) qualified investors or investment professionals falling within Article 19(5) and Article
     49(2)(a) to (d) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
     (the "Order"), or (iii) high net worth individuals, and other persons to whom it may lawfully
     be communicated, falling within Article 49(2)(a) to (d) of the Order, and (iv) persons who are
     "qualified investors" within the meaning of Article 2(1)(e) of the Prospectus Directive
     (Directive 2003/71/EC) (such persons collectively being referred to as "Relevant Persons") .
     This presentation must not be acted or relied on by persons who are not Relevant Persons. Any
     investment or investment activity to which this presentation relates is available only to
     Relevant Persons and will be engaged in only with Relevant Persons.

o    This presentation is an advertisement and not a prospectus and investors should not subscribe
     for or purchase any securities of TMCC referred to in this presentation or otherwise except on
     the basis of information in the base prospectus of Toyota Motor Finance (Netherlands) B. V. ,
     Toyota Credit Canada Inc. , Toyota Finance Australia Limited and Toyota Motor Credit
     Corporation dated 16 September 2011 as supplemented from time to time together with the
     applicable final terms which are or will be, as applicable, available on the website of the
     London Stock Exchange plc at
     www.londonstockexchange.com/exchange/news/market-news/market-news-home.html.

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Toyota's Global Businesses

AUTOMOTIVE      FINANCIAL SERVICES        OTHER BUSINESSES

[graphic omitted]

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TMC Consolidated Financial Results

                                                      Three Months
                          Fiscal Year Ended March 31,        Ended
(JPY billions)              2011    2012              June 30,2012
----------------------- -------- -------------------- -------------
Net Revenues            18,993.7 18,583.7                  5,501.6
Operating Income (Loss)   468.3    355.6                      353.1
Net Income (Loss)         408.2    283.6                     290.3

Source: TMC FY2011 , FY2012 and FY2013 Q1 Financial Summary

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TMC Consolidated Balance Sheet

                                                    FY2011               FY2012              FY2013
(JPY billions)                           As of March 31, 2011 As of March 31, 2012 As of June 30, 2012
---------------------------------------- -------------------- -------------------- -------------------
Current assets                                     11,829.8             12,321.2           12,107.6
Noncurrent finance receivables, net                 5,556.7              5,602.5            5,432.1
Investment and other assets                         6,122.5              6,491.9            6,424.1
Property, plant and equipment, net                  6,309.2              6,235.4            6,066.0
                                         -------------------- -------------------- -------------------
Total Assets                                       29,818.2             30,651.0           30,029.8
                                         -------------------- -------------------- -------------------
Liabilities                                        18,898.1             19,584.5           19,002.2
Shareholders' equity                               10,920.0             11,066.5           11,027.6
                                         -------------------- -------------------- -------------------
Total Liabilities abd Shareholders' Equity         29,818.2             30,651.0           30,029.8
                                         -------------------- -------------------- -------------------

Source: TMC FY2011 , FY2012 and FY2013 Q1 Financial Summary

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Toyota Across the United States

[graphic omitted]

Source: Toyota Motor Corporation FY2011 and FY2012 Financial Summary

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Toyota Motor Sales, USA

o    For 2012, more than 40% of the vehicle models TMS sells will be all-new or significantly
     refreshed

o    TMS is launching 19 new or refreshed models, including 7 from Toyota, 9 from Lexus and 3 from
     Scion

o    Industry-leading investment in next-generation technologies in power-train, safety and
     production

     --   TMS has the most fuel-efficient line-up of any full-line OEM

     --   11 hybrid models(1) in TMS line-up and 72% share of the U. S. hybrid market(2)

o    Recent and upcoming vehicle launches:

-Prius PHV          -Scion FR-S
-Prius c            -Lexus GS and HV
-RAV 4 EV           -Lexus ES and HV
-Avalon and HV      -Lexus LS and HV

(1) Includes cars and light trucks
(2) Calendar year to date as of August 2012
Source: Company Reports

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Toyota Motor Sales, USA (2)

o    Quality, dependability, safety and product appeal remain high as reflected by numerous 3(rd)
     party accolades

              2012 Interbrand                     2012 Interbrand                      2012 Cars.com
          "Best Global Brands"           "Best Global Green Brands"               "American-Made Index "
 At #10, Toyota ranked first among   Toyota ranked #1 among all brands         Camry ranked #1 for fourth
               all auto brands                      and industries                     consecutive year
----------------------------------- ------------------------------------- ----------------------------------
           2012 JD Power IQS                 2012 JD Power Vehicle
                                                                          2012 Consumer Reports Top Picks
Toyota and Lexus earned 5 segment              Dependability Study
                                                                            Toyota captured 5 of the 10 "Top
     awards; Lexus repeated as #1   Lexus ranked #1, Toyota ranked #3
                                                                                           Picks" spots
             overall nameplate            highest non-premium brand
----------------------------------- ------------------------------------- ----------------------------------
                 2012 Forbes
                                    Parents Magazine and Edmunds.com              Consumer Reports' 2012
            "Safest Small Cars"
                                       "Best Family Cars of 2012" List       Car-Brand Perception Survey
    Lexus CT 200H, Scion tC and
                                              Prius v, Camry, Sienna                   Toyota ranked #1
                 Toyota Prius
----------------------------------- ------------------------------------- ----------------------------------
         2012 IIHS "Top Safety"                         NHTSA                     Kelley Blue Book 2012
               TMS earned 19        Four vehicles received 5 Star overall            "Best Resale Value"
 "top safety" awards, more than any          rating in NCAP testing           Toyota best automotive brand
              other automaker        Scion tC, Camry, Camry HV, Prius             Lexus best luxury brand
----------------------------------- ------------------------------------- ----------------------------------

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Toyota Motor Sales, USA(3)

Lexus LS460       Lexus LS460 F-Sport

Toyota Avalon

[graphic omitted]

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Toyota Motor Sales, USA (4)

PRIUS Plug-In

RAV 4 EV

[graphic omitted]

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Toyota Motor Sales, USA (5)

Scion FR-S

Lexus LF-CC
Concept

[graphic omitted]

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Toyota Financial Services

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TFS Group Global Presence

o    34 Countries and Regions Worldwide

[graphic omitted]

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Toyota Motor Credit Corporation (TMCC)

Toyota Motor Corporation (TMC)

Toyota Financial Services Corporation (TFSC)


Toyota Motor Credit Corporation (TMCC)

o    Nearly 4.0 million active finance contracts (1)

o    AA- (2)/Aa3(2) rated captive finance company by S and P / Moody's

o    Credit support agreement structure with TFSC/TMC

(1) As of June 30, 2012
(2) Outlook negative

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Credit Support Agreements

o    Securities* issued by TMCC (and various other TFSC subsidiaries) have the benefit of a credit
     support agreement with TFSC

     --   TFSC will own 100% of TMCC

     --   TFSC will cause TMCC to maintain a tangible net worth of at least $100,000 as long as
          covered securities are outstanding

     --   If TMCC determines it will be unable to meet its payment obligations on any securities,
          TFSC will make sufficient funds available to TMCC to ensure that all such payment
          obligations are paid as due

     --   Agreement cannot be terminated until (1) repayment of all outstanding securities or (2)
          each rating agency requested by Toyota to provide a rating has confirmed no change in
          rating of all such securities

o    TFSC in turn has the benefit of a credit support agreement with Toyota Motor Corporation
     ("TMC")

     --   Same key features as TFSC/TMCC credit support agreement

     --   TMC will cause TFSC to maintain a tangible net worth of at least JPY10mm as long as
          covered securities are outstanding

o    TFSC's and/or TMC's credit support obligations will rank pari passu with all other senior
     unsecured debt obligations

* Securities defined as outstanding bonds, debentures, notes and other investment securities and
commercial paper, but does not include asset-backed securities issued by TMCC's securitization
trusts.

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TMCC Products and Services

     Consumer          Dealer             Commercial                Insurance
     Finance          Finance              Finance
o  Retail        o  Wholesale          o  Forklift             o Service Agreements
o  Lease         o  Real Estate        o  Hino Medium Duty     o Ext.  Warranty
                 o  Working Capital    o  Retail               o Guaranteed Auto Protection
                 o  Revolving Credit   o  Lease                o Roadside Assistance
                     Lines

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TMCC FY12 Business Highlights

o    2(nd) highest market share ever helped drive strong financing revenues

o    Lowest net charge-off ratio ever

o    2(nd) lowest residual value losses ever driven by record used vehicle values

o    Highest insurance penetration ever

o    2(nd) highest operating income(1) ever

o    Celebrating 30 years of supporting Toyota/Lexus/ Scion sales and enhancing customer
     relationships

(1) Operating Income: pre-tax income, excluding the impact of derivative mark-to-market adjustments

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TMCC Earning Asset Composition

Managed Assets
(USD billions)                  79.0
                       76.8  76.8
             72.6 72.2
                        12.1 12.7 13.9
             10.8 11.3
                  3.0   11.3 10.5 10.8

[graphic omitted]


Source: TMCC March 31, 2012 10-K and June 30, 2012 10-Q

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Extensive Field Organization

o    Decentralized dealer and field support

o    Centralized servicing and collections

[graphic omitted]

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TMCC Financial Performance - Select Data

                                                                     Three months
                                        Fiscal Year Ended March 31,      Ended
                                                                        June 30,
(USD millions)                          2009    2010    2011    2012      2012

Total Financing Revenues               8,800   8,163   8,064   7,429     1,797
 add: Other Income                       432     680     779     717       185
 less: Interest Expense                7,132   5,587   4,967   4,639       913
             and Depreciation
Net Financing Revenues                 2,100   3,256   3,876   3,507     1,069
             and Other Revenues
Net Income (Loss)                       (623)  1,063   1,853   1,486       477

Source: TMCC March 31, 2012 10-K and June 30, 2012 10-Q

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TMCC Financial Performance - Select Data

                                                                   Three months
                                     Fiscal Year Ended March 31,      Ended
                                                                     June 30,
(USD millions)                       2009    2010    2011    2012      2012

Over 60 Days Delinquent (1)         0.68%   0.45%   0.26%   0.18%     0.23%
Allowance for Credit Losses (1)(2)  2.51%   2.31%   1.13%   0.80%     0.76%
Net Credit Losses (3)               1.37%   1.03%   0.52%   0.21%     0.15%

(1) Percentage of gross earning assets

(2) The quotient of allowance for credit losses divided by the sum of gross finance receivables
    (net finance receivables less allowance for credit losses) plus gross investments in operating
    leases (net investments in operating leases less allowance for credit losses)

(3) Percentage of average gross earning assets annualized

Note: All percentage figures calculated for fiscal years 2009 were based on a 150-day charge-off
policy, which was changed to 120 days in fiscal 2010
Source: TMCC March 31,2012 10-K and June 30,2012 10-Q

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TMCC Retail Loan Collateral and ABS Transactions

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Credit Decisioning and Collections

o    Major adjustments to credit decisioning implemented beginning in late 2007 and enhanced in
     subsequent years

     --   Identification and minimization of least desirable segments

o    Renewed focus on core Toyota and Lexus business

o    Rededication of collections strategy and staff

     --   Re-trained staff and out-sourced high risk collections

     --   Emphasis on early intervention

     --   Optimization of staff and technology resources

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Credit: Results*

o    Retail loan credit performance has shown significant improvement

     --   Portfolio-level performance trends show general improvement

     --   Recent vintages outperforming older cohorts

Cumulative Net losses: Annual Origination Vintages

[graphic omitted]

* Abbreviated for presentation purposes

Source: Company Reports

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Managed Portfolio Performance

TMCC Retail Loan Delinquency Experience (1)

                                    At September 30,                        At March 31,
                              ----------------------- ---------- ---------- -------------- ----------- -----------
                                2012        2011      2012        2011           2010        2009        2008
                              ----------- ----------- ---------- ---------- -------------- ----------- -----------
Outstanding Contracts (2)     3,146,582   3,167,374   3,119,781  3,189,591   3,093,894     3,050,178   2,942,565
Number of Accounts Past Due
in the followingcategories
              30 - 59days        43,965      48,619      35,162     43,070      55,123        57,547      54,219
              60 - 89days         9,454      10,766       6,786      8,588      11,722        13,327      13,010
              Over 89 days        7,166       9,456       5,870      9,153      10,953        11,797       9,575
Delinquencies as a Percentage
of Contracts Outstanding(3)
              30 - 59days          1.40%       1.53%       1.13%      1.35%       1.78%         1.89%       1.84%
              60 - 89days          0.30%       0.34%       0.22%      0.27%       0.38%         0.44%       0.44%
              Over 89 days         0.23%       0.30%       0.19%      0.29%       0.35%         0.39%       0.33%

(1) The historical delinquency data reported in this table includes all retail vehicle installment
sales contracts purchased by TMCC, excluding those purchased by a subsidiary of TMCC operating in
Puerto Rico. Includes contracts that have been sold but are still being serviced by TMCC.
(2) Number of contracts outstanding at end of period.
(3) The period of delinquency is based on the number of days payments are contractually past due. A
payment is deemed to be past due if less than 90% of such payment is made.

Source: Company Reports

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Performance -- Retail Loan

TMCC Managed Portfolio Net Loss and Repossession Experience (dollars in thousands) (1)

                                                    For the 6 Months Ended                 For the Fiscal Years Ended
                                                ------------------------------------ --------------
                                                         September 30,                                             March 31,

                                                ------------------------------------ -------------- ------------- -------------
                                                    2012               2011              2012           2011          2010
 2009         2008
                                                ----------------- ------------------ -------------- ------------- -------------
   PrincipalBalance Outstanding (2)             $46,396,990       $45,050,980        $44,648,020    $45,053,303   $43,234,740
 $43,485,623   $42,313,780
   Average PrincipalBalance Outstanding (3)     $45,522,505        $45,052,141       $44,850,661     $44,144,021   $43,360,181
 $42,899,702   $39,900,783
   Number of Contracts Outstanding                 3,146,582          3,167,374           3,119,781     3,189,591   3,093,894
 3,050,178     2,942,565
   Average Number of

    Contracts Outstanding (3)                       3,133,182        3,178,483          3,154,686       3,141,743   3,072,036
 2,996,372     2,812,234
   Number of Repossessions (4)                         16,252            21,378            42,937         64,710        79,637
  81,270       65,785
   Number of Repossessions as a Percent of

    the Average Number of Contracts Outstanding         1.04% (7)          1.35% (7)          1.36%         2.06%        2.59%
    2.71%        2.34%
   Gross Charge-Offs (5)(8)                          $107,319          $120,374          $240,736       $447,159      $724,212
 $897,508      $608,689
   Recoveries (6)                                      $31,717         $43,550            $78,593        $98,105       $116,892
 $87,182        $68,511
   Net Losses                                        $75,602           $76,824            $162,143     $349,054      $607,320
 $810,326     $540,178
   Net Losses as a Percentage of Average

    PrincipalBalance Outstanding                        0.33% (7)         0.34% (7)          0.36%          0.79%         1.40%
    1.89%         1.35%

(1) The net loss and repossession data reported in this table includes all retail installment sales
contracts purchased by TMCC, excluding those purchased by a subsidiary of TMCC operating in Puerto
Rico. Includes contracts that have been sold but are still being serviced by TMCC.
(2) Principal Balance Outstanding includes payoff amount for simple interest contracts and net
principal amount for actuarial contracts.
(3) Average of the principal balance or number of contracts outstanding as of the beginning and end
of the indicated periods.
(4) Includes bankrupt repossessions but excludes bankruptcies.
(5) Amount charged-off is the net remaining principal balance, including earned but not yet received
finance charges, repossession expenses and unpaid extension fees, less any proceeds from the
liquidation of the related vehicle. Also includes dealer reserve charge-offs.
(6) Includes all recoveries from post-disposition monies received on previously charged -off
contracts including any proceeds from the liquidation of the related vehicle after the related
charge-off. Also includes recoveries for dealer reserve charge-offs and chargebacks.
(7) Annualized.
(8) Beginning in February 2010, Toyota Motor Credit Corporation changed its charge-off policy from
150 days past due to 120 days past due.

Source: Company Reports

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Origination Profile

    TMCC Retail Auto Loan Originations

     Original Summary Characteristics

     by Vintage Origination Year:                       2007               2008               2009               2010
     2011              2012(1)
     Number of Pool Assets                                 1,070,814           1,070,411          824,133            956,010
         911,545            742,734
     Original Pool Balance                         $23,723,872,435     $23,938,411,965    $17,974,710,305    $21,924,552,881
 $21,608,462,287     $18,270,310,894
     Average Initial Loan Balance                            $22,155           $22,364             $21,810           $22,933
        $23,705             $24,599
     Weighted Average Interest Rate                            7.64%              6.03%              5.69%              3.91%
           3.76%               3.26%
     Weighted Average Original Term                         62 months         63 months          62 months          62 months
       63 months           63 months
     Weighted Average FICO                                       708                723               737                738
             735                 731
     Geographic Distribution of Receivables
     representing the 5 states with the greatest
     aggregate original principal balance:
                 State 1                                  CA - 22.9%         CA - 20.7%         CA - 18.9%         CA - 18.0%
      CA - 18.9%          CA - 19.2%
                 State 2                                    TX - 11.0%        TX - 12.0%          TX - 12.1%        TX - 13.1%
       TX - 12.6%          TX - 14.0%
                 State 3                                    NY - 5.1%         NY - 4.8%          NY - 5.4%          NY - 5.2%
       NY - 5.4%           NY - 5.0%
                 State 4                                    NJ - 4.8%          NJ - 4.5%          NJ - 5.2%          NJ - 4.7%
        NJ - 4.9%           NJ - 4.6%
                 State 5                                   VA - 4.3%            IL - 4.3%          IL - 4.3%        VA - 4.5%
          IL - 4.1%        VA - 4.3%
     Distribution of Receivables by Contract Rate:
                 Less than 2.0%                                 11.3%              16.0%              17.1%             35.2%
           30.3%                41.0%
                 2.0% - 3.99%                                   8.9%               14.7%             17.9%              22.8%
           35.9%               30.0%
                 4.0% - 5.99%                                    11.6%            20.4%               21.2%             19.3%
            17.5%              15.5%
                 6.0% - 7.99%                                   31.8%             26.2%              23.9%              13.6%
            8.5%                6.8%
                 8.0% - 9.99%                                   18.2%              12.6%              11.3%               4.1%
            3.2%                2.7%
                 10.0% - 11.99%                                 6.0%               3.7%               3.6%                1.7%
             1.6%                1.4%
                 12.0% - 13.99%                                 2.5%                2.1%               1.7%              0.9%
            0.7%                0.5%
                 14.0% - 15.99%                                  2.4%               1.3%               1.0%              0.7%
            0.6%                0.5%
                 16.0% and greater                               7.4%              3.0%               2.3%                1.8%
             1.7%                1.4%
                           Total                             100.00%           100.00%            100.00%            100.00%
         100.00%            100.00%
     Share of Original Assets:
                 % of Non-Toyota/Non-Lexus                       7.2%               6.1%              4.8%               4.9%
             4.4%               3.3%
                 % of 72+ Month Term                             7.7%             20.6%               15.1%              9.8%
            10.5%               10.2%
                 % of Used Vehicles                            23.4%              25.4%              29.5%              30.6%
            31.5%              24.0%

(1) As of September 30, 2012
(2) Percentages may not add to 100% due to rounding
Source: Company Reports

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Origination Characteristics

APR Distribution

Weighted Average Original Term

Weighted Average FICO

Weighted Average FICO

New vs. Used

[graphic omitted]

*As of September 30,2012
Source: Company Reports

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ABS Deal Comparison
Toyota Auto Owner Trust (TAOT)(1)
                                         TAOT 2010-C           TAOT 2011-A          TAOT 2011-B           TAOT 2012-A
 TAOT 2012-B
   Number of Pool Assets                             104,874               77,857                 111,163              95,915
         62,985
   Original Pool Balance                   $1,344,094,647       $1,038,130,389        $1,573,816,681       $1,558,792,743
 $1,034,333,678
   Average Principal Balance                         $12,816              $13,334              $14,158               $16,252
        $16,422
   Weighted Average Interest Rate                      4.06%                3.57%                2.99%                  2.89%
           2.85%
   Weighted Average Original Term                           60                   60                   60                      61
                61
   Weighted Average FICO                                  755                  755                  755                    754
              754
   Geographic Distribution of
   Receivables representing the 5 states
   with the greatest aggregate original
   principal balance:
                  State 1                        CA - 19.5%            CA - 19.0%          CA - 18.9%             CA - 19.8%
     CA - 21.4%
                  State 2                          TX - 11.5%           TX - 12.2%          TX - 12.0%             TX - 12.4%
      TX - 13.3%
                  State 3                          PA - 5.9%            PA - 5.4%            PA - 4.8%               IL - 4.5%
       NJ - 4.7%
                  State 4                         MD - 4.8%               IL - 4.6%         NY - 4.5%              VA - 4.5%
        IL - 4.5%
                  State 5                            IL - 4.6%          NY - 4.5%              IL - 4.5%            MD - 4.1%
      NY - 4.5%
   Share of Original Assets:
                  % of Non-Toyota/Non-Le                 0.0%                 0.0%                 0.0%                   0.0%
            0.0%
                  % of 72+ Month Term                    0.0%                 0.0%                 0.0%                   0.0%
            0.0%
                  % of Used Vehicles                    19.5%               20.3%                23.8%                  27.3%
           26.3%

(1) Abbreviated for presentation purposes
Source: Company Reports

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TAOT Deal Performance

Transaction Moody's EL     S and P's EL
----------- ---------- -----------------
TAOT 2010-A  1.25% (1) 1.70% - 1.90% (2)
----------- ---------- -----------------
TAOT 2010-B  1.25% (1) 1.50% - 1.70% (2)
----------- ---------- -----------------
TAOT 2010-C  1.15% (1) 1.40% - 1.60% (2)
----------- ---------- -----------------
TAOT 2011-A    1.15%    1.40% - 1.60%
----------- ---------- -----------------
TAOT 2011-B   0.85%      1.15% - 1.35%
----------- ---------- -----------------
TAOT 2012-A   0.70%     0.85% - 1.00%
----------- ---------- -----------------
TAOT 2012-B   0.50%     0.75% - 0.90%
----------- ---------- -----------------

(1)  Moody's cumulative net loss assumption at initial transaction rating. On September 15, 2011,
     Moody's announced that it had decreased the transaction CNL assumptions to 0.45%-0.70% for
     2010-A and 2010-B and 0.35%-0.60% for 2010-C.

(2)  Standard and Poors cumulative net loss assumption at initial transaction rating. On January 17,
     2012, Standard and Poors announced that it had decreased the transaction CNL assumptions to
     0.45%-0.55% for 2010-A, 0.40%-0.50% for 2010-B and 0.35%-0.45% for 2010-C.

[graphic omitted]

Source: Company Reports

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TMCC Funding Programs

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Exceptional Liquidity

o    A-1+/P-1 direct commercial paper program

     --   $15.4 billion multi-party committed credit facilities (1)

o    $ 6.1 billion short-term investment portfolio

o    Over $ 50 billion in readily salable retail loan & lease receivables

o    Access to various domestic and international markets

o    Billions of additional capacity in global benchmark markets

o    Extensive inter-company lending infrastructure

o    Credit support agreements: TMCC []TFSC [] TMC

(1) Average balance for quarter ended June 30, 2012
Source:TMCC June 30,2012 10-Q

33


 
 
 

 
 
 


TMCC Funding Program Objectives

o    TMCC is committed to:

     --   Maintaining funding diversity and exceptional liquidity

     --   Issuing into strong demand with attractive deals

     --   Identifying and developing new markets and investor relationships

     --   Responding quickly to opportunities with best-in-class execution

34


 
 
 

 
 
 


Diversification in Debt Offerings

TMCC Long Term Debt Outstanding

[graphic omitted]

As of June 30, 2012
Source: Company Reports

35


 
 
 

 
 
 



Funding Flexibility And Responsiveness

Increased Diversification Across USD Curve (1)

[graphic omitted]

(1) Unsecured U.S. MTN issuance, excluding Structured Notes and Retail Notes.
(2) As of September 30, 2012
Source:Company Reports

36

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Key Investment Highlights

o    Financial strength supported by strong credit ratings

o    Transparent business model with exceptional liquidity

o    Rational funding programs with long term perspective

     --   Diversification in bond offerings

     --   Focus on proactively meeting needs of market

     --   Strong emphasis placed on flexibility and responsiveness

o    Industry-leading in:

     --   Liquidity management framework

     --   Balance sheet strength

     --   Business model resiliency

37


 
 
 

 
 
 


TOYOTA
FINANCIAL SERVICES

[graphic omitted]