This excerpt taken from the TM 6-K filed Nov 7, 2006.
Cautionary Statement with Respect to Forward-Looking Statements
This report contains forward-looking statements that reflect
Toyotas plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyotas actual results, performance,
achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic
conditions and market demand affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to
the value of the Japanese yen, the U.S. dollar, the Euro, the Australian dollar and the British pound; (iii) Toyotas ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by
management; (iv) changes in the laws, regulations and government policies in the markets in which Toyota operates that affect Toyotas automotive operations, particularly laws, regulations and policies relating to trade, environmental
protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies that affect Toyotas other operations, including the outcome of future litigation and other legal
proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyotas ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor
strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced,
distributed or sold.
A discussion of these and other factors which may affect Toyotas actual results, performance, achievements or
financial position is contained in Toyotas annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission.