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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 13, 1994
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TOYOTA MOTOR CREDIT CORPORATION
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(Exact name of registrant as specified in its charter)
California 1-9961 95-3775816
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
19001 South Western Avenue
Torrance, California 90509
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310) 787-1310
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Item 5. Other Events.
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The consolidated results of operations for Toyota Motor Credit Corporation
(the "Company") for the fiscal year ended September 30, 1994 are as follows.
Net income was $175 million for fiscal year 1994 as compared to $158 million
for the previous fiscal year.
Total assets were $14.7 billion at September 30, 1994 compared to
$11.2 billion at September 30, 1993. Total earning assets (consisting of
finance receivables, net and investments in operating leases, net) were
$14.0 billion at September 30, 1994 versus $10.3 billion at
September 30, 1993. Total notes and loans payable, including the effect of
foreign currency translations at spot rates in effect at the balance sheet
date, were $11.8 billion and $8.8 billion at September 30, 1994 and 1993,
respectively. Total shareholder's equity was $1.5 billion at September 30,
1994 and $1.2 billion at September 30, 1993.
The number of retail financing and retail leasing accounts outstanding at
September 30, 1994, including the sold accounts that the Company continues to
service, was approximately 970,000.
Fiscal years 1994 and 1993 financial results follow:
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Years ended September 30,
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1994 1993
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<S> <C> <C>
Financing Revenues:
Retail financing........................ $ 413 $ 468
Leasing................................. 1,230 747
Wholesale and other dealer financing.... 86 80
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Total financing revenues................... 1,729 1,295
Interest expense........................ 486 454
Depreciation on operating leases........ 735 381
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Net financing revenues..................... 508 460
Other revenues............................. 95 77
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Net Financing Revenues and Other Revenues.. 603 537
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Expenses:
Operating and administrative............ 232 228
Provision for credit losses............. 78 54
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Total Expenses............................. 310 282
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Income before income taxes................. 293 255
Provision for income taxes................. 118 97
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Net Income................................. $ 175 $ 158
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TOYOTA MOTOR CREDIT CORPORATION
Date: December 13, 1994 By /S/WOLFGANG JAHN
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WOLFGANG JAHN
Group Vice President
(principal executive officer)
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