This excerpt taken from the TM 6-K filed Nov 7, 2006.
4. Forecast of Financial Results for FY2007
Although we expect continued gradual growth in the world economy in the future, we face a variety of unstable elements, including concerns about the future American economy and higher prices for crude oil and raw materials. The Japanese economy is on a recovery trend, but troubling factors still remain. In the automobile industry, auto makers from around the world are expanding development of next-generation technologies that address issue of environment, safety, and energy, including the large scale introduction of hybrid vehicles, and competition is expected to become even more intense in the future.
Under these circumstances, current forecast of financial results for the fiscal year ending March 2007 is set forth below. This forecast assumes average exchange rates through the fiscal year of 115 yen per US$1 and 145 yen per 1 euro.
Forecast of consolidated results for FY2007
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.
When using the forecast of financial results, please refer to the Cautionary Statement with Respect to Forward-Looking Statements in the Financial Summary on the inside cover.