Long-Term Business Plan forthe Fiscal Year Ending March 2020

May 1, 2015

© 2013Stable performance as a result of increased automobile production

37.5

45.7

58.2*

67.5

40.2

27.3

47.1

66.2 67.473.0

67.5 70.0

6.88 7.59

8.12 8.69

7.10 7.28 7.34 7.53

8.56 8.95 8.95 9.12

当期純利益（当社計画値含む）

トヨタ年間生産台数（当社推測値含む）

1

（万台）

（億円） 140.0

Historical Overview of Net Income

*Excludes the JPY 19.0 billion tax reduction effect due to the merger.Fiscal years to March 312005 2006 2007 2008 2009 2010 2011 2012

(Net income before amortization of goodwill)

Toyota Motor’s annual car production volume (Million units; includes Toyota Tsusho estimates)

Net income (Billion yen; includes Toyota Tsusho estimates)

2013 2014 2015 2016 2020

Plan Target

© 2013 2

Initiatives to achieve the long-term business plan

Strengthen the earnings foundation of the automotive business

・Propose businesses that meet customer needs in each region

・Develop peripheral businesses that leverage strengths

・Successfully monetize the businesses we launch

・Restructure for more growth businesses

Build businesses in which we have invested and expand earnings in them

Create a new generation of businesses

・Rigorously invest in areas that leverage our strengths and businesses that are highly profitable

Issues and Initiatives to Achieve Annual and Long-Term Plans

Issues Initiative Policies

© 2013

140.0

3

70.0

Returns on new investments

Amortization of goodwill

completed (Tomen, Eurus,

etc.)

Amortization of goodwill

suspended(CFAO, etc.)

Existing businessgrowth

Monetize prior investments

Fiscal Year Ending March 2020: Multistage Net Income Targets

March 2020Target

March 2016 Plan

+20.0

+20.0

+20.0

(Net income before amortization of

goodwill)+10.0

(Billion yen)

© 2013

March 2014Results

March 2015Results

March 2016Plan

March 2020 Target

Net sales 7,743.2 8,663.4 8,400.0 9,500.0

PL Operating income 161.3 169.4 158.0 270.0Net income 73.0 67.5 70.0 140.0Total assets 4,072.7 4,533.6 4,900.0 6,500.0Shareholders’ equity 799.8 844.4 900.0 1,200.0Comprehensive income 172.9 281.0 – –Net assets 1,156.0 1,304.4 1,370.0 1,900.0Net interest-bearing debt 1,088.9 1,233.6 1,300.0 1,600.0

Net DER 1.1 1.1 1.1 ≥1.5 times

New investments 146.1 208.8 Invest within the scope of operating cash flow

4

BS

Emphasize sound finances

Quantitative Targets of Long-Term Business Plan (Billion yen)

FinancialB

enchmarks

Investments

(Net income before amortizationof goodwill)

© 2013 5

Americas & Europe Asia Pacific & China Emerging Countries & Africa

AutomobileProduction

AutomobileSales

Implement production and sales strategies for each region

Deploy Toyota G

roup Collective Experience O

utside Toyota Group

・Start in Mexico・Deal with changing

car models・Improve processing

technology・Use new materials

・Improve capabilitiesin China

・Implement IMV・Establish Mekong

distribution・Techno-park

・Implement IMV・Lower costs

・Expand OEM use・Enhance sales network・Create individual demand・Pre-owned cars and sales

finance

Strengthen the Earnings Foundation of the Automotive Business

・Enhance sales network in main countries

・Scrap and build・Deal in commercial

components

* Circle size corresponds to the extent of business expansion

・Raise management efficiency

・Popularize brands

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Division Business Areas Future Initiatives

Metals ・Rare earths・Lithium

・Increasing productivity from stable operations・Expand sales channels

Global Parts & Logistics ・Techno-park・Aftermarket component sales

・Strengthen Tier 1 and Tier 2 relationships・Sell more materials and form local relationships

Automotive・Pre-owned cars & sales finance・Hydrogen & electric vehicle

businesses

・Alliances with new car dealers・Create framework for popularizing brands

Machinery, Energy & Project

・Gas business・Power generation business

・Rigorous control of development schedule ・Strengthen relationships with strong partners

Chemicals & Electronics ・Iodine・Superabsorbent polymers (SAP) ・Secure sales routes for unique products

Food & Agribusiness ・Wheat & sugar businesses・Development of businesses from upstream to

downstream・Expand sales channels

Consumer Products & Services ・Hospital & nursing services ・Operate in peripheral service businesses

Implement initiatives required for rapid returns

Build Businesses in Which We Have Invested and Expand Earnings in Them –Successfully Monetize the Businesses We Launch

© 2013 7

Division Business Area Future Initiatives

Machinery, Energy & Project ・Renewable energy

・Portfolio balanced among Japan, Europe and the USA

・Diversify generation methods (solar, biomass, geothermal, offshore wind, etc.)

Chemicals & Electronics

・Electronics・Pharmaceuticals business

・Exercise Group synergies ・Expand business in which Toyota Tsusho

is strong, incl. automotive・Increase products handled by building

ties with manufacturers and constructing networks

Food & Agribusiness ・Grain business・Beverage business

・Build value chains from upstream to downstream

・Strengthen relationships and development with strong partners

Consumer Products & Services

・Insurance package services・Textiles

・Operate overseas, and increase insurance products handled

・Review purchasing and sales routes, and create brand strategies

Leverage our strengths to generate additional growth

Prior Investment Projects: Growth Areas with Projected Earnings Growth

© 2013 8

Selectively invest in growth areas and highly profitable businesses by leveraging our strengths

Target implementation of TRY-1 by generating additional growth in core businesses based on long-term strategy and

continuing to invest to develop next core businesses

Policies for New Investments

© 2013 9

Core Next Core

Challenge

Market Growth Potential

Building the next core earnings

drivers

Build next core earnings drivers with awareness of business model lifecycle

Business Model Lifecycle

Scale of earnings

New Investment Areas:Initiatives to Build Next Core Earnings Drivers

Current core earnings drivers

Phase 2 core earnings drivers

Phase 3 core earnings drivers

Temporal axisPhase 2 core earnings drivers: businesses with potential for good results and growth

Phase 3 core earnings drivers: businesses that exceed each division’s parameters from a long-term perspective

Strength: Highly experiencedGrowth potential: Sustain and ensure growth in existing businesses

Strength: Highly experiencedGrowth potential: Market share gains, etc.

・Africa (Groupwide)・Power generation business (Incl. renewable energy)・Electronics business expansion

Strength: Partners complement our strengths when we are less experiencedGrowth potential: market scale and product lineup expansion・Upstream grain strategy・Environment, recycling, medical, agribusiness

(Automotive-related businesses)

Our Strengths

© 2013

April 2015: Africa designated as our fifth key region

Throughout Africa, develop businesses that demonstrate the Toyota Tsusho Group’s strengths 10

Next Core Earnings Drivers 1: Build Our Presence in Africa

・ Develop retail business through Carrefour・YAMAHA two-wheeler assembly & sales・ L'Oréal production & sales

Rely on CFAO to expand Toyota automobile sales

Cross developmentfrom Kenya in the infrastructure business (geothermal power, harbors, etc.)

Toyota Tsusho (Toyota models) and CFAO (VW models, etc.) will expand sales of automobiles

Automobile CKD production

Automobile production

Rely on CFAO to expand in the pharmaceuticals business

Toyota Tsusho Support & Cooperation

Create Synergy

© 2013

Eurus Energy・Wind + solar power: 2,600MW (gross) Largest wind power station in Japan (over 20% share)・Ability to structure non-recourse financing and achieve

internalizing development and maintenance in Japan

North America● Base: TTP (USA)

N. America gas-fired CCGT 3,455MW (gross）Asia Pacific● Base: TPS (Singapore)

1,966MW in Asian countries (gross)

・Regional expansion of the renewable energy business in Japan and overseas

・Transmission business, surplus power storage andsales (hydrogen, storage batteries, etc.)

Demonstrate the various power sources we offer and grow by synergistically creating unique clean energy businesses that can provide stable power generation in various

countries and business areas

11

● Geothermal & solar power generation businesses● Creation of power generation infrastructure in Africa &

the Middle East● Link the power generation resources & network of

Group companies to expand initiatives to enter new business areas

ENE-VISION: In-house & biomass power generation

Thermal Power Generation Business Renewable Energy

Next Core Earnings Drivers 2: Develop a Unique Power Generation Business

Investigate potential of new business areas

© 2013 12

Grain Strategy ComponentAcquired stable upstream procurement and cost competitiveness.

Downstream linkage through value chain (primarily in Asia).

Strengths & Issues in Brazil

● High growth in grain production forecast for BrazilGrain infrastructure integrated from inland warehouses to ports in northern Brazil

● Long term access rights for key ports, access to railroads and truck routes linked with major producing states in Northern Brazil

Have four grain silos in Japan, where there is demand

Stable supply to customers in Southeast Asia and China

Strengths of NovaAgri & Toyota Tsusho

Earth & ResourcesCollection/Transport/Storage

Initial processingShipment (Export) TradingMarine transport Import (Logistics) Initial processing

Livestock/Secondary processing

Businesses in Supply Regions Businesses in Consumer Regions

Attractive marketAttractive market Now a major strategic market for Toyota Tsusho

Life & Community

Our Grain Strategy

3rd Step: Leverage the resource procurement capabilities we acquired to further strengthen sales capabilities

Challenge Project: Acquisition of NovaAgri

2nd Step: ensure raw material procurement for this project 1st Step: Participate in downstream businesses

● Grain global export share (Fiscal 2013/14)Soybeans: 41%; Corn: 16.5% (both No. 2 globally)

● Storage capacity for about 90% of domestic production volume (chronic capacity shortage)

Room for new entrants, unlike N. America,which is controlled by an oligopoly of grainmajors

13

Policies for New Investments

© 2013 14

Selectively invest in growth areas and highly profitable businesses by leveraging our strengths

Policies for New Investments

• Invest within the scope of operating cash flow

• Rigorously employ quantitative standards (RVA & TVA) and emphasize investment returns

• For investment projects, determine Groupwide and Division priorities and replace existing projects and businesses (strategic allocation of managerial resources)

© 2013 15

Rigorously Manage the Investment Cycle

Senior managers and chief division officers discuss strategic significance and priorities

2. Investment Strategy Meeting (Monthly)

Set and approve division policy based on Group policy Manage the pipeline

1. Policy Committee (March)

Business monitoring system Restructuring & exit

decisions Adds rigor to exit rules

5. Portfolio Meeting (October)

Discusses investment and loan proposals

3. Investment and Loan Meeting (Weekly)

4. Decision(Monthly)

Go

GoRevamp

Exit

Strengthening governance withoutside directors

Drop

© 2013 16

Background for Risk and Capital Cost Rates

1. Target: RA ≒ RB ≒ Net worth2. Target return for RA ≒ Return on equity = ROE3. Cost rate is set at 10% to 13% to increase ROE

RVA =

Ordinary income x 60% – RA x risk cost

Verifies whether we are generating sufficient earnings from risks taken

TVA =

(Ordinary income – net interest expense)× (1 – country tax rate） – capital employed×country capital cost rate

Verifies whether we are generating expected earnings and capital employed

We use and rigorously apply quantitative benchmarks

Risk Adjusted Value Added: RVA＞0 Capital Efficiency: TVA＞0

Quantitative Assessment Criteria for New Loans and Investments: Risk Adjusted Value Added (RVA) and Capital Efficiency Indicator (TVA)

© 2013

Red(Insolvency)

Red(Insolvency)

Yellow(Loss exceeds

-50%)

Exit

Annual fixed benchmark (Once annually)Annual fixed benchmark (Once annually)

New benchmarkNew benchmark

Evaluate after two years

“Under Scrutiny” status (Support)

17

Consolidated Subsidiaries and Major Affiliates

Continue

Clarifying Benchmarks for Supporting or Exiting Businesses

First 5 years

After 5 years

FS deviation over 50% (After-tax profit)

Business profit below ¥100 million (3 consecutive years) or after-tax loss for fiscal year

Negative RVA

Balance sheet benchmark (Monthly)Balance sheet benchmark (Monthly)

18

Key Performance Indicators

© 2013 19

Long-term business plan target (Year ending March 31, 2020)

ROE：10% to 13%

Improve benchmark ROE of 10% to 13% in light of factors including various changes in the operating

environment and the application of quantitative benchmarks for assessing businesses

Basic Policy for ROE

© 2013 20

◆ Basic Risk Asset Management Policy1) Keep total risk within a sustainable range RA≦RB2) Secure earnings to justify risk taken RVA*＞0

(Ordinary income after tax – RA×10%)

RA(Risk assets)

Approx.JPY 980 billion

RB(Risk buffer; mainly net

worth)Approx.

JPY 990 billion

RA：RB ratio 0.99 : 1(Reference) 1.13 : 1 as of March 31, 2014

RVA ＞ 0

(Risk cost 10% ）

※１:RVA（Risk Adjusted Value Added)

Basic Risk Asset Management Policy

We target sound, strong finances that enable future investments by reviewing existing investments and improving capital efficiency and the

risk profitability of businesses

March 31, 2015 = Preliminary basis =

21

Dividends

© 2013

We will generate stable, sustained shareholder returns with a target consolidated payout ratio of 25% calculated using net income before

amortization of goodwill

28

42 4450

◆

◆

◆

◆

◆

21% 22%23%

24%

29%

◆56

31%

62

22

◆

19%20%

New Divided Policy

Dividend Policy

Cash dividends per share (Yen)Dividend payout ratio

Payout ratio (using earnings before amortization of goodwill)

March2012

March2013

March2014

March2015

March 2016

Planned

March2011

23

Personnel Development

© 2013 24

We need to develop people who can manage diverse employees, create businesses and build businesses with overseas partners in order to achieve our

2020 Vision and become a truly global corporation

Young Employees

D&I

Global D&I

Outside Directors

Personnel Development to Achieve Global 2020 Vision

Specific Initiatives

• Assign to companies throughout the Group to acquire firsthand competencies

• Give all employees overseas assignments within their first 7 years

• Form Diversity Task Force in each department• Proposals for issues including work from home, shorter hours,

maternity leave and nursing leave

• Hire and employ elite foreign employees with business creation and senior management skills

• Actively promote foreign employees

• 3 outside directors, incl. 2 women, to vitalize the Board of Directors• Introduction of governance code to expand functions of outside

directors

© 2013 25

Inquiries:

Investor Relations Group

E-mail ttc_ir@pp.toyota-tsusho.com

TEL +81-3-4306-8201

FAX +81-3-4306-8818

◆ The presentation material includes “forward-looking statements” such as those pertaining to the strategy and management plan of Toyota Tsusho Corporation and its group companies, which are not historical facts. The forward-looking statements are based on expectations, estimates, and forecasts available at the current moment, and necessarily include risks and uncertainties. Accordingly, the information on the business environment, future performances, business results, and financial standings of the Company explicitly or implicitly expressed in the forward-looking statements could differ materially from the actual results. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.

◆ The presentation material is not intended to be the basis for an offer or solicitation to buy or sell any security. In making a decision on investment, etc., prospective investors may not rely on the information in this presentation.