Business Development in Africa

November 1, 2012

Inquiries to:

Investor Relation Group E-mail: ttc_ir@pp.toyota-tsusho.com Tel: +81-3-4306-8201 Fax: +81-3-4306-8818 Toyota Tsusho’s Vision & Overseas Regional Strategy

●Aimed at strategies and execution within the four key regions of Asia and Oceania, China, Europe, and North and Central America ●Additional focus on emerging countries and resource-rich countries in other regions with operations directly managed by the head office ●Achievement of a balanced “1:1:1” business portfolio across the three operating fields of the GLOBAL 2020 VISION

Europe North and Central Asia China Central Life & Life & Earth & Community America Community Resources Middle East

Africa Mobility South America

Asia Pacific

*Circle size reflects scale of net sales as of fiscal year ending March 31, 2012 Africa follows the four key areas in scale ⇒ Discovery and expansion planned in the three business areas 2

Potential in Africa

Explosive Population Growth Basic Infrastructure Creation (1 billion people in 2010 ⇒ 2 billion people in 2050) (Basic development of roads, electricity, water, etc.)

Accelerated Resource Plentiful Resources (Extensive undeveloped resources and energy) Development (Crude oil, copper, diamonds, rare metals)

Expanding Middle-Income Marked Economic Growth (10-year forecast: 5.2% growth in Sub Sahara vs. Demographic 3.3% globally) (Per capita GDP above $3,000: 65 million people in 2012⇒ 100 million people in 2015)

Rising Standards of Living Accelerated Motorization (Income per capita: $800 in 1980 ⇒ $2,900 in 2016) (2010: 1.45 million vehicles ⇒ 2016: 2.0 million vehicles*)

*Toyota Tsusho estimate for car market based on GDP growth prediction by IMF

The final emerging region after China, Southeast Asia and Central and South America ⇒ Opportunity for business expansion 3 InitiativesInitiatives inin AfricaAfrica History of Business Development in Africa

19331933 AlexandriaAlexandria Branch Branch opened; opened; cotton cotton trading trading began began

19641964 ExportsExports of of completed completed vehicl vehicleses fr fromom Japan Japan to to East East Africa Africa began began

19911991 MinorityMinority investments investments in in automobile automobile distri distributorsbutors in in Kenya, Kenya, Angola, Angola, Z Zaambiambia and and Z Zimbabwimbabwee

2000 FiFirstrst head headqquuartersarters for for Africa, Africa, TO TOYOTAYOTA TSUSHO TSUSHO AFRICA AFRICA (PTY) (PTY) LTD., LTD., established established 2000 inin South South Africa Africa

2001 TransferTransfer of of bu businesssiness of of U.K. U.K. company company Lonrho Lonrho plc. plc. in in Kenya, Kenya, Angola, Angola, Z Zimbabwimbabwe,e ,Z Zaambiambia and and 2001 MalawMalawi i

20082008 InveInvestmenstment tin in drilling drilling of of marine marine gas gas field fields sin in E Egyptgypt

20092009 CarCar leasing leasing company company es establistablishedhed in in Kenya Kenya and and Mauritius Mauritius

20112011 OrderOrder recei receivveded for for Kenya’s Kenya’s larg largestest geothermal geothermal energy energy proj projectect

Track record of about 80 years of business development in Africa 5 Current Business Development in Africa

9Automotive business portfolio ■Northern Africa Portfolio ○ Non-automotive business portfolio Egypt ○ Electric power plant

■Eastern Africa Portfolio

9 Automobiles Eastern 9 Logistics business ○ Energy plant-related/ Chemical products Africa ○ Farm mechanization business ○ Geothermal energy

■Southern Africa Portfolio Countries with investments in Toyota distributors (7 countries) ⑪ 9 Automobiles Other Toyota business- 9 Toyota parts SCM business (South Africa) transferred countries (17 Southern countries) Africa ○ Agriculture (Zambia, Mozambique) Countries with investments in ○ Logistics business Subaru distributors (1 country)

Diversified development of the automotive and non-automotive businesses, largely in eastern and southern Africa. 6 Net Sales in Africa by Business, Employees and Bases

Net Sales by Business *Net sales for the year ended March 31, 2012

ParentParent company company export export domain domain JapanJapan 16.016.0 billion billion

Import,Import, exp expoortrt & & w whholesaleolesale by by regi regioonalnal s usubbsidiariessidiaries SouthSouth Africa Africa 53.053.0 billion billion

SteelSteel sheet sheet processing processing bu businesinessss SouthSouth Africa Africa 6.06.0 billion billion

SalesSales of of a uautomobilestomobiles & & parts; parts; after-sales after-sales servic servicee SouthSouth Africa, Africa, Angola, Angola, Kenya, Kenya, etc. etc. 55.055.0 billion billion

TotalTotal 130.0130.0 billion billion

Employees： Expatriates 34; National Staffs 2,393; Total 2,427 ＊as of March 31, 2012

Number of Bases： 8bases ＊as of March 31, 2012

Focus on the automotive business ⇒ Expand the non-automotive business in the future 7 New Developments in Africa

Existing Businesses New Businesses Sy

Automotive Area nergy (t Non-Automotive Area Kenya Geothermal energy rusting business Toyota distributors, etc. Olkaria No. 1 and No. 4

＋ relationsh Automotive area is the base (Approx. 280MW – equivalent to 25% of Kenya’s electric power generation) i ps, pe rsonal con

Non-Automotive Area nections, experience,et Automotive Area

Egypt Small-scale CKD Electric power plants, etc. production business Non-automotive area is ＋ Joint venture with Toyota Motor Corp. the base Fortuna assembly (production of

c. 3,000 units annually) )

Region where former Toyota Tsusho is strong + Strong business of former Tomen ⇒ Geothermal energy business in Kenya Region where former Tomen is strong + Strong business of former Toyota Tsusho ⇒Automobile production in Egypt We are promoting business development to extend TRY 1 in Africa, which is a key region

8 New Developments in Eastern Africa

ResultResultss in in Kenya: Kenya: 1. Automotive business Comprehensive agreement concluded 1. Automotive business Comprehensive agreement concluded „Automobile distributors with government of Kenya „Automobile distributors with government of Kenya „Used car sales „Used car sales „Car Leasing Comprehensive programs in the areas of automobiles, „Car Leasing Comprehensive programs in the areas of automobiles, 2. Non-Automotive Business power generation and energy, oil and minerals, 2. Non-Automotive Business environmentpower generation and agricultural and energy, ind oilu andstriali minerals,zation. „Order for geothermal power generation PJ environment and agricultural industrialization. „Order for geothermal power generation PJ

EstablishEstablishmmentent of of Eastern Eastern Africa Africa r ergionalegional headq headquuartersarters (plan(plannneded for for Novembe November r2012) 2012)

Uganda Kenya 1. Integrated management of inventory in the Rwanda 1. Integrated management of inventory in the automoautomotivetive bu businesinesss s 2. Promotion of business expansion in the EAC*, Burundi 2. centerPromotioned on ofKenya business expansion in the EAC*, Tanzania centered on Kenya ** EAC EAC (Eas (East tAfrica Africa Commu Community):nity): A A community community formed formed byby countries countries in in ea easternstern Africa. Africa. Current Current members members are are Kenya,Kenya, Uganda, Uganda, Rw Rwananda,da, Burun Burunddi iand and Tanz Tanzania.ania. The branch in Nairobi, Kenya is now a subsidiary. As a result, it is the regional axis for initiatives in Kenya and EAC. 9 InvestmentInvestment inin CFAOCFAO Overview of CFAO

Operations include automobile distributor business, pharmaceutical wholesale business, beverage production, and sales business. Largest French trading company specialized in Africa

■CFAO Established: 1887 Countries with operations: 32 countries + 7 French overseas possessions Corporate Employees: 10,100 (as of Dec. 31, 2011) Group companies: 121 (Sales offices: 261) Overview Net sales: €3,124 mil (as of Dec. 31, 2011) Stock listing: Euronext (listed 12/2009)

Automotive Business Operations Non-Automotive Business Operations

Automobile Distributor/Dealer Business Pharmaceutical Division Industries Division IT Division Division (60% of net sales) (28%) (8%) (4%)

Toyota GM Nissan Suzuki • IT consulting Isuzu business • PC-related 17 7 9 19 Does business with 450 OEM production of equipment 7 pharmaceutical companies, countries countries countries countries Heineken and Coca sales countries handles about 20,000 Cola in Rep. of • Office design products. Wholesales to Congo, No. 1 share. consulting 5,000 pharmacies in 27 business (incl. ■ OEM production and Distribution rights for more than 20 brands in 32 countries countries in western Africa. sales of Yamaha and installation of Management of supply and demand with optimum efficiency at the Peugeot motorcycles. facilities such centralized inventory yard in Belgium as elevators) The major strength is a network covering all regions of western Africa. 11 Changes in CFAO Financial Results

CFAO Net Sales Unit: € Million 3,124 (Share by division) 2,875 2,676 2,535 2,582 IT 4% 2,219 Industries 2,034 1,859 11% 1,718 1,743 1,487

Pharmaceutical Automobile 1H 29% 56%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012/1H

CFAO Operating Income 270 (Share by division) Unit: € Million 256 226 223 211 IT 2% 177 Industries 167 158 156 11% 145 121

Automobile 1H Pharmaceutical 52% 24%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012/1H

Following the Lehman Shock, steady growth in sales and earnings even amid the financial crisis in Europe 12 CFAO Business Strategy

CFAO is moving forward with three businesses – Equipment (centered on automobiles), Health Care and Food & Consumer Goods – under its 3 Pillar Strategy.

Life & Earth & EQUIPMENT HEALTH Community Resources CARE

Use a powerful business ・ GROWTH foundation and expand TRY 1 STRATEGY businesses in Africa FOOD & ・ CONSUMER Mobility GOODS

Strategy closely matches Toyota Tsusho’s GLOBAL 2020 VISION TRY 1

CFAO focuses on three businesses similar to Toyota Tsusho’s TRY 1 strategy

13 Business Expansion from Investment in CFAO

Investment in CFAO

Earth & Life & Mobility Resources Community ■Rapid development & expansion in the emerging market of ○ ○ ○ Africa (current 25 countries ⇒ 48 countries/54 countries)

■Accelerated development of the distributor/dealer business ○

■Multi-brand car distribution and Pharmaceutical distribution businesses as the result of the acquisition of CFAO (21 brands ○ ○ car distribution and wholesales to 5,000 pharmacies)

■Medium- to long-term business discovery and foundation building in non-automotive domains (foundation building in ○ ○ resource and infrastructure development business)

Create strong business foundation in Africa and achieve GLOBAL 2020 VISION Investment in CFAO is an excellent opportunity in terms of our business strategy and regional strategy 14 Complementary Relationship with CFAO in the Automotive Business

25 Countries Handled by Toyota Tsusho (Toyota domain + South Africa/ Subaru) 32 Countries Handled by CFAO (Automobile Division) ■ ■Key Development Region: Eastern and Southern Africa Key Development Region: Western Africa (Western Africa = Toyota, etc.; Eastern Africa (Southern and eastern Africa = Toyota) = non-Toyota)

Toyota Tsusho CFAO

Internal operations and investments: Internal operations and 8 countries ＋ investments: 32 countries (South Africa: investment in Subaru (Toyota: 17 countries/Non-Toyota: distributors) 32 countries)

Handling of Toyota vehicles: 24 countries Handling of Toyota vehicles: 17 countries 17,800 units (2010) ⇒ 19,135 units (2011) 10,260 units (2010) ⇒ 12,722 units (2011)

Vehicles handled for all brands Vehicles handled for all 21 brands * Toyota + 1,000 Subaru units = 20,000 units 71,200 units (fiscal 2011)

Countries with investments in Other Toyota business-transferred Toyota handled (17 Non-Toyota handled (32 Toyota distribution (7 countries) countries (17 countries) countries) countries) Countries with investments in Subaru distribution (1 country)

The two companies handle approx. 91,000 units in 48 countries (includes Toyota in 40 countries) ⇒ Area development 15 CFAO’s Pharmaceutical Wholesale Business

Pharmaceutical wholesale & logistics business: No. 1 share of pharmaceutical wholesale business in Africa Manufacturers handled: 450 companies Sales network: 20 countries in Africa and 7 French overseas possessions Products handled: Approx. 20,000 varieties Shipments: Daily to approx. 5,000 pharmacies/hospitals in 27 countries

Pharmaceutical manufacturer (mainly European manufacturer) Human Resources Support Experts in many areas + OEM production in Algeria and Logistics Know-How cooperation Know-how cultivated in Consolidated inventory for Eurapharma business Toyota Group (EPDIS of France/Continental Pharmaceutique) Network Global network of bases Weekly orders Personnel network

Eurapharma distributors Infrastructure Logistics warehouses, (20 countries in Africa + 7 French overseas possessions, etc.) information systems

Daily orders & deliveries Financial Strength Stable finances

Pharmacies/hospitals in each country, etc. Etc.

Toyota Tsusho will contemplate support and cooperate with CFAO by providing Toyota Tsusho’s resource and know-how 16 Schedule of TOB

July August September October November December January

29.8% 29.8% purchasing purchasing implementation contract conclusion

TOB (takeover Approval of European Commission bid) application application from Anti-Competition to AMF AMF Clearance (France’s Financial Services Agency)

Acceptance Period Reopened Acceptance Period

Announcement Announcement of result of result

▲ Implemented Nov. 1, 2012 Planned implementation TOB planned for completion by end of December if all goes smoothly. 17 RiskRisk ManagementManagement && NumericalNumerical FinancialFinancial TargetsTargets BasicBasic PolicyPolicy forfor FinancialFinancial StrategyStrategy

Basic Policy Aim to maintain a sound financial balance and generate stable growth

Sound Financial Balance Based on the concept of Asset Liability Management: 1. Align funding with asset class 1) Employ shareholders’ equity and long-term debt as capital for long-term investments 2) Maintain appropriate balance between shareholders’ equity and long-term debt (net DER ≦ 1.5) 2. Maintain balance between risk asset scale and risk buffer Risk Asset ≦ Risk Buffer

Growth 1. Growth in consolidated net income: ¥66.2 billion (result for fiscal year ended March 31, 2012) ⇒ ¥ 120.0 billion (target for fiscal year ending March 31, 2017) 2. Increase in ROE 10.7% (result for fiscal year ended March 31, 2012) ⇒ 12%-15% (target for fiscal year ending March 31, 2017)

19 Planned Post-TOB Financial Indicators

March 31, March 31, March 31, March 31, Performance March 31, 2010 2011 2012 2013 Indicators 2017 Target Results Results Results Forecast* ¥27.3 ¥47.1 ¥66.2 ¥70.0 ¥120.0 Net income billion billion billion billion billion Net 1.50 or 0.96 0.98 1.05 1.30 DER less

ROE 4.9% 8.0% 10.7% 10.5% 12-15%

RA:RB 0.74 0.73 0.88 1.18 Under 1.0

*Numbers may change depending on the result of the TOB.

• Indicators for March 31, 2013 will worsen temporarily as a result of equity investment in CFAO • However, increased earnings and asset amortization will enable achievement of all indicators for March 31, 2017 20 Notice on Forward-Looking Statements

◆ 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.

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