2024 Q4 - Annual Report

☐REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g)OF THE SECURITIES EXCHANGE ACT OF 1934OR☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended: March 31, 2024OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934OR☐SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934Commission file number: 001-14948 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large accelerated filer,”“accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): Table of Contents TABLE OF CONTENTS PageITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS1ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE1ITEM 3.KEY INFORMATION13.A[RESERVED]13.BCAPITALIZATION AND INDEBTEDNESS13.CREASONS FOR THE OFFER AND USE OF PROCEEDS13.DRISK FACTORS1ITEM 4.INFORMATION ON THE COMPANY74.AHISTORY AND DEVELOPMENT OF THE COMPANY74.BBUSINESS OVERVIEW74.CORGANIZATIONAL STRUCTURE684.DPROPERTY, PLANTS AND EQUIPMENT69ITEM 4A.UNRESOLVED STAFF COMMENTS70ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS715.AOPERATING RESULTS715.BLIQUIDITY AND CAPITAL RESOURCES945.CRESEARCH AND DEVELOPMENT, PATENTS AND LICENSES985.DTREND INFORMATION1005.ECRITICAL ACCOUNTING ESTIMATES100ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES1006.ADIRECTORS AND SENIOR MANAGEMENT1006.BCOMPENSATION1076.CBOARD PRACTICES1166.DEMPLOYEES1176.ESHARE OWNERSHIP1186.FDISCLOSURE OF A REGISTRANT’S ACTION TO RECOVER ERRONEOUSLY AWARDED COMPENSATION119ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS1197.AMAJOR SHAREHOLDERS1197.BRELATED PARTY TRANSACTIONS1207.CINTERESTS OF EXPERTS AND COUNSEL121ITEM 8.FINANCIAL INFORMATION1218.ACONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION1218.BSIGNIFICANT CHANGES123ITEM 9.THE OFFER AND LISTING1239.ALISTING DETAILS1239.BPLAN OF DISTRIBUTION1239.CMARKETS1239.DSELLING SHAREHOLDERS1239.EDILUTION1239.FEXPENSES OF THE ISSUE123ITEM 10.ADDITIONAL INFORMATION12310.ASHARE CAPITAL12310.BMEMORANDUM AND ARTICLES OF ASSOCIATION12410.CMATERIAL CONTRACTS130 Table of Contents Page10.DEXCHANGE CONTROLS13010.ETAXATION13510.FDIVIDENDS AND PAYING AGENTS14110.GSTATEMENT BY EXPERTS14110.HDOCUMENTS ON DISPLAY14110.ISUBSIDIARY INFORMATION14110.JANNUAL REPORT TO SECURITY HOLDERS141ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK141ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES14212.ADEBT SECURITIES14212.BWARRANTS AND RIGHTS14212.COTHER SECURITIES14212.DAMERICAN DEPOSITARY SHARES142ITEM 13.DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES144ITEM 14.MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS144ITEM 15.CONTROLS AND PROCEDURES144ITEM 16.[RESERVED]145ITEM 16A.AUDIT COMMITTEE FINANCIAL EXPERT145ITEM 16B.CODE OF ETHICS145ITEM 16C.PRINCIPAL ACCOUNTANT FEES AND SERVICES146ITEM 16D.EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES147ITEM 16E.PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS147ITEM 16F.CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT148ITEM 16G.CORPORATE GOVERNANCE148ITEM 16H.MINE SAFETY DISCLOSURE152ITEM 16I.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS152ITEM 16J.INSIDER TRADING POLICIES153ITEM 16K.CYBERSECURITY153ITEM 17.FINANCIAL STATEMENTS156ITEM 18.FINANCIAL STATEMENTS156ITEM 19.EXHIBITS157 Table of Contents As used in this annual report, the term “fiscal” preceding a year means the twelve-month period ended March31 of the year referred to. All otherreferences to years refer to the applicable calendar year unless the context otherwise requires. Unless the context otherwise requires or as otherwiseexpressly stated, references in this prospectus supplement to “TMC” refers to Toyota Motor Corporation, “Toyota,” “we,” “us,” “our” and similar termsrefer to Toyota Motor Corporation and its consolidated subsidiaries, as a group, and as of March31, 2024, “Toyota Group” refers to Toyota MotorCorporation, Toyota Industries Corporation, Aichi Steel Corporation, JTEKT CORPORATION, Toyota Auto Body Co., Ltd., Toyota TsushoCorporation, AISIN CORPORATION, DENSO Corporation, TOYOTA BOSHOKU CORPORATION, TOYOTA FUDOSAN CO., LTD., TOYOTACENTRAL R&D LABS., INC., Toyota Motor East Japan, Inc., Toyoda Gosei Co., Ltd., Hino Motors, Ltd., Daihatsu Motor Co., Ltd., Toyota HousingCorporation, Toyota Motor Kyushu, Inc. and Woven by Toyota, Inc, collectively. Toyota’s consolidated financial statements in this annual report have been prepared in accordance with IFRS Accounting Standards, as issued bythe International Accounting Standards Board (“IASB”). IFRS Accounting Standards also includes International Accounting Standards (“IASs”) and therelated interpretations of the interpretations committees (SIC and IFRIC). As such, we make an explicit and unreserved statement of c