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Presentation Materials for Investors October 2014 1 |
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Disclaimer [] This presentation includes certain "forward-looking statements" within the meaning of The U. S. Private Securities Litigation Reform Act of 1995. [] These statements are based on current expectations and currently available information. [] 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. [] We do not undertake to update the forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking statements. [] 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. [] Investors and others should note that we announce material financial information using the investor relations section of our corporate website (http://www.toyotafinancial. com) and SEC filings. We use these channels, press releases, as well as social media to communicate with our investors, customers and the general public about our company, our services and other issues. While not all of the information that we post on social media is of a material nature, some information could be material. Therefore, we encourage investors, the media, and others interested in our company to review the information we post on the Toyota Motor Credit Corporation Twitter Feed (http://www.twitter. com/toyotafinancial). We may update our social media channels from time to time on the investor relations section of our corporate website. 2 |
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Disclaimer [] This presentation includes certain "forward-looking statements" within the meaning of The U. S. Private Securities Litigation Reform Act of 1995. [] These statements are based on current expectations and currently available information. [] 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. [] We do not undertake to update the forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking statements. [] 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 contractorcommitment or investment decision whatsoever. Any offer or sale of securities by TMCC will be made only by means of a prospectus and related documentation. [] Investors and prospective investors in securities of TMCC are required to make their own independent investigation and appraisalof 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. [] 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) as amended (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 willbe engaged in only with Relevant Persons. [] This presentation is an advertisement and not a prospectus and investors should not subscribe for or purchase any securitiesofTMCC 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 13 September 2013 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 Exchangeplcat www. londonstockexchange. com/exchange/news/market-news/market-news-home. html. [] Investors and others should note that we announce material financial information using the investor relations section of ourcorporate website (http://www.toyotafinancial. com)and SEC filings. We use these channels, press releases, as well as social media to communicate with our investors, customers and the general public about our company, our services and other issues. While not all of the information that we poston social media is of a material nature, some information could be material. Therefore, we encourage investors, the media, and others interested in ourcompany to review the information we post on the Toyota Motor Credit Corporation Twitter Feed (http://www.twitter. com/toyotafinancial) . We may update our social media channels from time to time on the investor relations section of our corporate website. 3 |
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Toyota's Global Businesses 4 |
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TMC Consolidated Financial Results
ThreeMonths
FiscalYearEndedMarch31, EndedJune30,
(JPYbillions) 2013 2014 2014
--------------- --------- ------------- --------------
NetRevenues 22,064.2 25,691.9 6,390.7
OperatingIncome 1,320.9 2,292.1 692.7
NetIncome 962.2 1,823.1 587.8
Source:TMC FY2013, FY2014 20-F, June 30, 2014 6-K
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TMC Consolidated Balance Sheet
FY2013 FY2014 FY2015
(JPYbillions) AsofMarch31,2013 AsofMarch31,2014 AsofJune30,2014
------------------------------------ ----------------- ----------------- ---------------
Currentassets 13,784.9 15,717.7 15,574.3
Noncurrentfinancereceivables,net 6,943.8 8,102.3 8,143.9
Investmentandotherassets 7,903.4 9,976.2 9,972.0
Property,plantandequipment,net 6,851.2 7,641.3 7,765.6
----------------- ----------------- ---------------
TotalAssets 35,483.3 41,437.5 41,455.7
----------------- ----------------- ---------------
Liabilities 22,710.5 26,218.5 25,997.4
Shareholders'equity 12,772.9 15,219.0 15,458.3
----------------- ----------------- ---------------
TotalLiabilitiesandShareholders'Equity 35,483.3 41,437.5 41,455.7
Source:TMC FY2013, FY2014 and June 30, 2014 6-K
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Toyota Across the United States Operations Overview [GRAPHIC OMITTED] 7 |
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Toyota's Next Chapter [] Recently announced consolidation of Toyota headquarters functions [] Will move to a single location in Plano, Texas during 2016-2018 [] Unified manufacturingand sales leadershipHQ willenable us to: -- Improvecollaborationandleveragecapabilitiesacrossthebusiness -- Respondtochangesinthemarketfasterandimproveourcompetitiveadvantage -- Betteralignmanufacturingoperationswithsales,marketingandotherfunctions -- Ultimatelydevelopbetterproductsandservicesforourcustomers |
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Toyota Motor Sales, USA [] TMS sold 2.23 million vehicles in 2013; its highest sales volume since 2007 and up 7.4% from 2012 -- Toyota division is the #1 US retail brand in 2014 -- Camry was the best-selling passenger car in America for the 12 (th) consecutive year [] Industry-leading investment in next-generation technologies in power-train, safety and production -- TMS has one of the most fuel-efficient line-ups of any full-line OEM -- Over 2.3 million hybrids sold in the US and nearly 6.6 million worldwide(1) -- 11 hybrid models(2), 1 plug-in model, and 1 EV model across the TMS line-up [] For2014, TMS is launching8new or refreshedmodels. Recent and upcoming vehicle launches: -CamryandHV -HighlanderandHV -LexusNX -Yaris -LexusRC -LexusNXHV -Sienna -LexusRCF (1) As ofJune 2014 (2) Includescars and lighttrucks Source: TMSReports 9 |
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Toyota Motor Sales, USA (2)
[] Quality, dependability, safetyand product appeal remain high as reflected by
numerous 3(rd) partyaccolades
2014NHSTA5-Star 2014ConsumerReports 2014PopularMechanics
OverallSafetyRating BestNewCarValue 10BestCarsandTrucks
11Toyota,LexusandScionmodels ToyotaPrius 2014LexusIS
-------------------------------- ------------------------------------- -------------------------------
2014NHTSATop10Most'American WorldsMostInnovativeCompanies 2014J.D.PowerandAssociates
Made'Vehicles Toyotaranked5(th)overallandthehighest VehicleDependabilityStudy
Camry,CorollaandTundra amongstautomotivebrands Lexusranked1(st)overall
-------------------------------- ------------------------------------- -------------------------------
2014J.D.PowerandAssociates 2014ConsumerReports Interbrand
InitialQualityStudy ConsumerPerceptionSurvey BestGlobalGreenBrandsin2014
Toyota,Lexus,andScionvehicles Toyotahighestamongnon-luxurybrands Toyotarankedno.2
earnedtop3finishes
-------------------------------- ------------------------------------- -------------------------------
2014AutoPacific
KelleyBlueBook's 2014Edmunds
VehicleSatisfactionAward
10BestGreenCarsof2014 TopRatedSedan
Highlandernamedmostsatisfying
PriusFamilyandLexusES300h ToyotaAvalon
premiummidsizecrossoverSUV
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Toyota Motor Sales, USA (3) Toyota Camry XSE [GRAPHIC OMITTED] Toyota FCV Hydrogen Car [GRAPHIC OMITTED] 11 |
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Toyota Motor Sales, USA (4) Toyota Yaris [GRAPHIC OMITTED] Toyota Sienna [GRAPHIC OMITTED] 12 |
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Toyota Motor Sales, USA (5) Lexus RC F [GRAPHIC OMITTED] NX Concept Lexus NX 300h [GRAPHIC OMITTED] 13 |
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Toyota Financial Services 14 |
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TFS Group Global Presence [GRAPHIC OMITTED] 15 |
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Toyota Motor Credit Corporation (TMCC)
Toyota Motor Corporation (TMC) Toyota Financial Services
Corporation (TFSC) Toyota Motor Credit Corporation (TMCC)
[] Over 4.2 million active finance contracts (1)
[] AA- (2)/Aa3(2) rated captive finance company by SandP / Moody's [] Credit
support agreement structure with TFSC/TMC(3)
(1) As of August 2014 (2) Outlook stable
(3)The Credit Support Agreements do not apply to securitizationtransactions
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TMCC Products and Services Consumer Finance [] Retail [] Lease Dealer Finance [] Wholesale [] Real Estate [] Working Capital [] Revolving Credit Lines Commercial Finance [] Forklift [] Hino Medium Duty [] Retail [] Lease Insurance [] Service Agreements [] Prepaid Maintenance [] Guaranteed Auto Protection [] Excess Wear and Use [] Tire and Wheel 17 |
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Extensive Field Organization [] Decentralized dealer and field support [] Centralized servicing and collections (circled) 18 |
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Recent TMCC Business Highlights [] In excess of $10.6billionpre-tax income over the past 5 years(1) [] Continuing the trend in 2014, TFS is the top U. S. auto lender in all new vehicles(2) [] Strongmarket share continues to drivesolidfinancingrevenues and sales support [] Lownet charge-offratio driven by prudent underwriting standards and proactive servicing practices [] Highinsurancepenetration and growing insurance volume [GRAPHIC OMITTED] (1) ForthefiveyearperiodfromFY10throughFY14;$1.679mm+$3.003mm+$2.423mm+$2.155mm+$1. 354mm=$10,614mm (2) Source:AutoCountasofJuly2014 19 |
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TMCC Earning Asset Composition
Managed Assets (USD billions)
$89.9 $91.8
$83.0
$76.8 $76.8 15.8 15.6
14.9
12.1 12.7 9.6 10.7
8.0
11.3 10.5
39.6 38.7
39.9
34.1 34.6
19.3 19.0 20.2 24.9 26.8
Mar-11 Mar-12 Mar-13 Mar-14 Jun-14
Lease Retail Sold(ABS) WholesaleandOther
Source: TMCC March 31, 2011 10-K, March31, 201210-K , March31,201310-K, March
31, 2014 10-K andJune 30, 2014 10-Q
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TMCC Financial Performance -Select Data
Fiscal Year EndedMarch 31, Three Months Ended
June 30,
(USD millions) 2011 2012 2013 2014 2014
---------------------------------- ----- -------------- ----------- ----- ------------------
Total FinancingRevenues 8,064 7,429 7,244 7,397 1,960
add: Other Income 779 717 744 702 188
less: Interest Expense 4,967 4,639 4,508 5,352 1,230
andDepreciation
Net FinancingRevenues 3,876 3,507 3,480 2,747 918
andOther Revenues
Net Income 1,853 1,486 1,331 857 364
Source: TMCC March 31, 201 4 10-K and TMCC June 30, 2014 10-Q
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TMCC Financial Performance -Select Data
Fiscal Year EndedMarch 31, Three Months Ended
June 30,
(USD millions) 2011 2012 2013 2014 2014
------------------------------------ ------ -------------- ----------- ------ ------------------
Over 60 Days Delinquent (1) 0.26% 0.18% 0.19% 0.18% 0.22%
Allowance for Credit Losses (1)(2) 1.13% 0.80% 0.63% 0.50% 0.48%
.
Net Credit Losses (3) 0.52% 0.21% 0.27% 0.28% 0.20%
(1) Percentageofgrossearningassets
(2)
Thequotientofallowanceforcreditlossesdividedbythesumofgrossfinancereceivables(n
etfinancereceivableslessallowanceforcreditlosses)plusgrossinvestmentsin
operatingleases(netinvestmentsinoperatingleaseslessallowanceforcreditlosses)
(3) Percentageofaveragegrossearningassetsannualized
Note: All percentage figures calculatedwerebased on a120-daycharge-offpolicy
Source: TMCC March31,2014 10-K and TMCC June 30, 2014 10-Q
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TMCC Funding Programs 23 |
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Exceptional Liquidity [] A-1+/P-1rated directcommercial paperprogram [] $19.0billion committedcreditfacilities(1) [] $7.2billion short-termliquidity investment portfolio(2) [] Over$60 billionin readily salableconsumer retailloan and lease receivables [] Access to various domestic and international markets [] Billions of additional capacity in global benchmark markets [] Extensive inter-company lending infrastructure [] Credit support agreements: TMCC[]TFSC [] TMC (1)As of June 30, 2014 (2) Averagebalance forquarter ended June 30,. 2014 Source:TMCC June 30, 2014 10-Q 24 |
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TMCC Funding Program Objectives [] TMCC is committed to: -- Maintainingfundingdiversityandexceptionalliquidity -- Issuingintostrongdemandwithattractivedeals -- Identifyinganddevelopingnewmarketsandinvestorrelationships -- Respondingquicklytoopportunitieswithbest-in-classexecution -- Managingourbusinessandstakeholderrelationshipswithalong-termview 25 |
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New Funding Vehicles [] Auto industry's first ever Green BondABS [] Diversity and Inclusion (DandI) bond syndicates led by diversity firms [] Competitive, innovative and socially responsible 26 |
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TMCC FYTD15FundingOverview $10.75billion of long term debtfunded FYTD [] $8.62 billion in unsecured debt [] $2.13billion in secured debt (net of amount retained) -- $0.93 billion comprised of public term secured funding (net of amount retained) As ofSeptember 30, 2014 Source:Company Reports 27 |
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Diversification in Debt Offerings
TMCC Long Term DebtOutstanding (USD millions)
By Deal Type Uridashi $2,376
EMTN $5,022
Eurobonds $6,302 Global MTN $23,350
Other $5,378
Public/Private ABS $8,237 MTN $9,406
By Currency
[GRAPHIC OMITTED]
GBP CHF Other JPY
AUD $1,210 $479 $354 $1,963 $2,608
EUR $5,365
USD $48,089
Asof August 31, 2014
Source:Company Reports
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Funding Flexibility And Responsiveness DiversificationAcross USD Curve (1) [GRAPHIC OMITTED] (1) UnsecuredU.S. MTN issuance, excluding Structured Notes and RetailNotes Percentagesmay not add to 100% due torounding As ofSeptember 30, 2014 Source:Company Reports 29 |
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Key Investment Highlights [] Financial strength supported by strong credit ratings [] Transparent business model with exceptional liquidity [] 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 [] Industry-leading in: -- Liquidity management framework -- Balance sheet strength -- Business model resiliency [GRAPHIC OMITTED] 30 |
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TMCC Retail Loan Collateral and ABS Transactions |
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Credit Decisioning and Collections [] Recent consistent, conservative underwriting standards have produced low levels of delinquencies and credit losses -- Identification and minimization of least desirable segments -- Ongoing focus on Toyota and Lexus business [] Optimization of collections strategy and staff supports lossmitigation while enabling portfolio growth -- Emphasis on early intervention -- Reinforcement of strong compliance management system 3.0% 2.0% Delinquency(1) 1.0% Credit loss (2) 0.0% FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 [GRAPHIC OMITTED] (1)Delinquencyis30+daydelinquenciesasapercentageofretailreceivablesoutstanding (2) Creditlossisannualnetcreditlossasapercentageofretailreceivablesoutstanding 32 |
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Credit: Results* [] 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 4.50% 2007 2008 2009 2010 2011 2012 2013 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% 0 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 68 72 Month * Abbreviatedfor presentationpurposes Source: Company Reports [GRAPHIC OMITTED] |
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Managed Portfolio Performance
TMCC Retail Loan Delinquency Experience (1)
AtJune30, AtMarch31,
------------------------- -------- ------------ ------------- ----------- -------------
2014 2013 2014 2013 2012 2011 2010
------------- ----------- -------- ------------ ------------- ----------- -------------
OutstandingContracts(2) 3,233,098 3,178,961 3,220,641 3,156,247 3,119,781 3,189,591 3,093,894
NumberofAccountsPastDue
inthefollowingcategories
30-59days 40,214 36,845 32,920 35,672 35,162 43,070 55,123
60-89days 9,565 8,496 6,660 7,182 6,786 8,588 11,722
Over89days 5,908 6,208 5,799 6,362 5,870 9,153 10,953
DelinquenciesasaPercentage
ofContractsOutstanding(3)
30-59days 1.24% 1.16% 1.02% 1.13% 1.13% 1.35% 1.78%
60-89days 0.30% 0.27% 0.21% 0.23% 0.22% 0.27% 0.38%
Over89days 0.18% 0.20% 0.18% 0.20% 0.19% 0.29% 0.35%
(1) The historical delinquency data reported in this table includes all retail
vehicle installment sales contracts purchasedbyTMCC, 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 bepast 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)
FortheThreeMonthsEnded
June30, FortheFiscalYearsEnded
---------------------------- -------------- ---------------------------------------
-------------
2014 2013 2014 2013 2012 2011 2010
-------------- ------------- -------------- ---------- -------------- -------------
-------------
PrincipalBalanceOutstanding(2) $49,718,012 $48,270,227 $48,761,164 $46,932,720 $44,648,020 $45,053,303
$43,234,740
AveragePrincipalBalanceOutstanding(3) $49,239,588 $47,601,474 $47,846,942 $45,790,370 $44,850,661 $44,144,021
$43,360,181
NumberofContractsOutstanding 3,233,098 3,178,961 3,220,641 3,156,247 3,119,781 3,189,591
3,093,894
AverageNumberof
ContractsOutstanding(3) 3,226,870 3,167,604 3,188,444 3,138,014 3,154,686 3,141,743
3,072,036
NumberofRepossessions(4) 13,617 13,824 34,923 34,353 42,937 64,710
79,637
NumberofRepossessionsasaPercentof
theAverageNumberofContractsOutstanding 1.01% 1.05% 1.10% 1.09% 1.36% 2.06%
2.59%
GrossCharge-Offs(5)(6) $98,300 $91,586 $257,586 $244,432 $240,736 $447,159
$724,212
Recoveries(7) $25,042 $28,735 $62,714 $69,088 $78,593 $98,105
$116,892
NetLosses $73,258 $62,851 $194,872 $175,344 $162,143 $349,054
$607,320
NetLossesasaPercentageofAverage
PrincipalBalanceOutstanding 0.36% 0.32% 0.41% 0.38% 0.36% 0.79%
1.40%
(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. Actuarial contracts
do not comprise any of the Receivables.
(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) Beginningin February 2010, Toyota Motor Credit Corporation changed its
charge-off policy from 150 days past due to 120 days past due.
(7) Includesall 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.
Source: Company Reports
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Origination Profile
TMCC Retail Auto Loan Originations
Original Summary Characteristics 2010 2011 2012 2013
2014(1)
by Vintage Origination Year:
----------------- ----------------- ---------------- ------------------
-----------------
NumberofPoolAssets 956,010 911,545 973,979 1,008,958
221,109
OriginalPoolBalance $21,924,552,881 $21,608,462,287 $24,029,119,369 $25,332,328,542
$5,632,125,913
AverageInitialLoanBalance $22,933 $23,705 $24,671 $25,107
$25,472
WeightedAverageInterestRate 3.91% 3.76% 3.15% 2.94%
3.22%
WeightedAverageOriginalTerm 62months 63months 63months 63months
64months
WeightedAverageFICO 738 735 731 727
723
GeographicDistributionofReceivablesrepresentingthe5
stateswiththegreatestaggregateoriginalprincipalbalance:
State1 CA-18.0% CA-18.9% CA-19.3% CA-21.4%
CA-21.5%
State2 TX-13.1% TX-12.6% TX-14.1% TX-13.3%
TX-14.3%
State3 NY-5.2% NY-5.4% NY-5.1% NY-4.6%
NY-4.5%
State4 NJ-4.7% NJ-4.9% NJ-4.5% NJ-4.4%
NJ-4.3%
State5 VA-4.5% IL-4.1% VA-4.2% IL-3.9%
PA-3.9%
DistributionofReceivablesbyContractRate:(2)
Lessthan2.0% 35.2% 30.3% 44.1% 51.2%
49.2%
2.0%-3.99% 22.8% 35.9% 27.8% 20.2%
20.3%
4.0%-5.99% 19.3% 17.5% 15.1% 14.0%
14.1%
6.0%-7.99% 13.6% 8.5% 6.6% 6.7%
7.6%
8.0%-9.99% 4.1% 3.2% 2.7% 3.2%
3.6%
10.0%-11.99% 1.7% 1.6% 1.4% 1.5%
1.7%
12.0%-13.99% 0.9% 0.7% 0.5% 0.6%
0.7%
14.0%-15.99% 0.7% 0.6% 0.5% 0.6%
0.7%
16.0%andgreater 1.8% 1.7% 1.4% 2.0%
2.1%
----------------- ----------------- ---------------- ------------------
-----------------
Total 100.00% 100.00% 100.00% 100.00%
100.00%
================= ================= ================ ==================
=================
ShareofOriginalAssets:
PercentageofNon-Toyota/Non-Lexus 4.9% 4.4% 3.3% 3.3%
3.6%
Percentageof72+MonthTerm 9.8% 10.5% 10.0% 10.6%
11.2%
PercentageofUsedVehicles 30.6% 31.5% 24.4% 24.5%
25.1%
(1) As ofMarch 31, 2014
(2) Percentages may not add to 100% due to rounding
Source: Company Reports
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Origination Characteristics *As of June 30, 2014 Source: CompanyReports 37 |
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ABS Deal Comparison
Toyota AutoOwnerTrust (TAOT)(1)
Original Summary Characteristics TAOT 2012-A TAOT 2012-B TAOT 2013-A TAOT 2013-B TAOT
2014-A TAOT 2014-B
by Prior Securitization:
----------------- ----------------- ----------------- -----------------
----------------- -----------------
Number of Pool Assets 95,915 62,985 84,513 66,096
115,093 98,798
Original Pool Balance $1,558,792,743 $1,034,333,678 $1,301,545,574 $1,054,454,801
$1,845,073,346 $1,583,044,330
Average Principal Balance $16,252 $16,422 $15,401 $15,953
$16,031 $16,023
Weighted Average Interest Rate 2.89% 2.85% 2.56% 2.24%
2.10% 2.09%
Weighted Average Original Term 61 61 61 61
61 61
Weighted Average FICO 754 754 756 757
757 756
Geographic Distribution of Receivables
representing the 5 states with the greatest
aggregate original principal balance:
State 1 CA - 19.8% CA - 21.4% CA - 20.0% CA - 21.3% CA
- 22.6% CA - 26.3%
State 2 TX- 12.4% TX- 13.3% TX- 13.3% TX- 13.4%
TX- 13.4% TX- 12.9%
State 3 IL - 4.5% NJ - 4.7% VA - 4.3% IL - 4.2%
IL - 4.6% IL - 4.4%
State 4 VA - 4.5% IL - 4.5% IL - 4.3% VA - 4.1%
PA - 4.3% PA - 4.0%
State 5 MD - 4.1% NY - 4.5% NJ - 4.2% PA - 4.0%
NJ - 4.2% VA - 3.9%
Distribution of Receivables by Contract Rate: (1)
Less than 2.0% 40.6% 40.1% 47.5% 54.8%
58.7% 59.4%
2.0% - 3.99% 35.0% 38.0% 32.5% 28.3%
25.2% 24.8%
4.0% - 5.99% 14.3% 13.4% 12.2% 10.6%
10.2% 10.0%
6.0% - 7.99% 6.0% 4.9% 4.5% 3.6%
3.4% 3.3%
8.0% - 9.99% 2.2% 2.0% 1.8% 1.5%
1.4% 1.4%
10.0% - 11.99% 1.0% 0.9% 0.8% 0.6%
0.6% 0.6%
12.0% - 13.99% 0.4% 0.4% 0.3% 0.2%
0.2% 0.2%
14.0% - 15.99% 0.4% 0.3% 0.2% 0.2%
0.2% 0.2%
16.0% and greater 0.2% 0.2% 0.1% 0.1%
0.1% 0.1%
----------------- ----------------- ----------------- -----------------
----------------- -----------------
Total 100.00% 100.00% 100.00% 100.00%
100.00% 100.00%
================= ================= ================= =================
================= =================
Share of Original Assets:
Percentage of Non-Toyota/Non-Lexus 0.0% 0.0% 0.0% 0.0%
0.0% 0.0%
Percentage of 72+ Month Term 0.0% 0.0% 0.0% 0.0%
0.0% 0.0%
Percentage of Used Vehicles 27.3% 26.3% 22.7% 21.8%
21.4% 20.8%
(1) Abbreviated for presentation purposes
Source: Company Reports
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TAOT Deal Performance
As of September 15, 2014 Payment Date
[GRAPHIC OMITTED]
TAOT 2010-A
TAOT 2010-B
TAOT 2010-C
TAOT 2011-A
TAOT 2011-B
TAOT 2012-A
TAOT 2012-B
TAOT 2013-A
TAOT 2013-B
TAOT 2014-A
TAOT 2014-B
Moody's SandP Final
----------- ---------- --------------- ------------------------
Transaction Initial EL Updated EL Initial EL Updated EL Actual CNL
----------- ---------- --------------- ------------ ----------- ----------
TAOT2010-A 1.25% 0.45%-0.70% 1.70%-1.90% 0.30%-0.35% 0.32%
----------- ---------- --------------- ------------ ----------- ----------
TAOT2010-B 1.25% 0.45%-0.70% 1.50%-1.70% 0.25%-0.30% 0.23%
----------- ---------- --------------- ------------ ----------- ----------
TAOT2010-C 1.15% 0.35%-0.60% 1.40%-1.60% 0.20%-0.25% 0.19%
----------- ---------- --------------- ------------ ----------- ----------
TAOT2011-A 1.15% 0.25% 1.40%-1.60% 0.20%-0.25% 0.18%
----------- ---------- --------------- ------------ ----------- ----------
TAOT2011-B 0.85% 0.25% 1.15%-1.35% 0.25%-0.30%
----------- ---------- --------------- ------------ -----------
TAOT2012-A 0.70% 0.30% 0.85%-1.00% 0.85%-1.00%
----------- ---------- --------------- ------------ -----------
TAOT2012-B 0.50% 0.30% 0.75%-0.90% 0.75%-0.90%
----------- ---------- --------------- ------------ -----------
TAOT2013-A 0.50% 0.40% 0.65%-0.80% 0.65%-0.80%
----------- ---------- --------------- ------------ -----------
TAOT2013-B 0.40% 0.40% 0.55%-0.70% 0.55%-0.70%
----------- ---------- --------------- ------------ -----------
TAOT2014-A 0.40% 0.40% 0.55%-0.70% 0.55%-0.70%
----------- ---------- --------------- ------------ -----------
TAOT2014-B 0.40% 0.40% 0.55%-0.70% 0.55%-0.70%
----------- ---------- --------------- ------------ ----------- ----------
Source: Company Reports
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Sales and Trading Update 40 |
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CommercialPaperProgramsHighlights [] A-1+/P-1 Direct Commercial Paper Programs -- 3 distinct USD commercial paper programs (TMCC, TCPR, TCCI) -- $13.0billion multi-party committed credit facilities -- $6.0billion bilateral committed credit facilities -- $26.6billion USCP combined average outstanding for TMCC and TCPR -- Over 600diverse institutional investors [] State and local municipalities [] Large corporations [] Pension and retirement funds [] Financial institutions [] Money managers and mutual fund companies -- Rates are posted daily on Bloomberg DOCP screen Source:TMCC June 30, 2014 10-Q 41 |
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