TOYOTA MOTOR CREDIT CORP
10-Q/A, 1997-08-08
PERSONAL CREDIT INSTITUTIONS
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<PAGE>

            UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                                FORM 10-Q/A


(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the quarterly period ended  March 31, 1997
                                     --------------
          OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period from           to         
                                     --------    --------

Commission file number    1-9961
                        ----------


                      TOYOTA MOTOR CREDIT CORPORATION
- ---------------------------------------------------------------------------
          (Exact name of registrant as specified in its charter)

               California                                 95-3775816
- ----------------------------------------            -----------------------
   (State or other jurisdiction of                     (I.R.S. Employer
    incorporation or organization)                    Identification No.)

        19001 S. Western Avenue
          Torrance, California                               90509
- ----------------------------------------            -----------------------
(Address of principal executive offices)                   (Zip Code)

Registrant's telephone number, including area code       (310) 787-1310
                                                    -----------------------


          Indicate by check mark whether the registrant (1) has filed all 
reports required to be filed by Section 13 or 15(d) of the Securities Exchange 
Act of 1934 during the preceding 12 months (or for such shorter period that 
the registrant was required to file such reports), and (2) has been subject to 
such filing requirements for the past 90 days.
                                                             Yes  X  No
                                                                 ---    ---

          As of April 30, 1997, the number of outstanding shares of capital 
stock, par value $10,000 per share, of the registrant was 91,500, all of which 
shares were held by Toyota Motor Sales, U.S.A., Inc.

                                     -1-

<PAGE>

                        PART II.  OTHER INFORMATION


ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K.

            (a)   Exhibits

            The exhibit listed on the accompanying Exhibit Index, on page 4,
            is filed as part of this report to amend the previously filed
            financial data schedule exhibit.














































                                     -2-

<PAGE>

                                 SIGNATURES


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 thereunto duly authorized.


                                             TOYOTA MOTOR CREDIT CORPORATION
                                             -------------------------------
                                                      (Registrant)



Date:   August 7, 1997                 By         /S/ GEORGE BORST
                                             -------------------------------
                                                     George Borst
                                               Senior Vice President and
                                                    General Manager
                                             (Principal Executive Officer)



Date:   August 7, 1997                 By         /S/ GREGORY WILLIS
                                             -------------------------------
                                                     Gregory Willis
                                                     Vice President 
                                               Finance and Administration
                                             (Principal Accounting Officer)



























                                     -3-

<PAGE>

                                EXHIBIT INDEX


Exhibit                                                              Method
Number                           Description                        of Filing
- -------                          -----------                        ---------

27.1                   Amended Financial Data Schedule.              Filed
                                                                    Herewith













































                                     -4-
 



 

 






<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS AMENDED SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
TOYOTA MOTOR CREDIT CORPORATION'S MARCH 31, 1997 FINANCIAL STATEMENTS AND
NOTES THERETO AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                             276
<SECURITIES>                                       190
<RECEIVABLES>                                   19,338<F1>
<ALLOWANCES>                                       221
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F2>
<PP&E>                                               0
<DEPRECIATION>                                       0<F3>
<TOTAL-ASSETS>                                  19,993
<CURRENT-LIABILITIES>                                0<F2>
<BONDS>                                         15,152
                                0
                                          0
<COMMON>                                           915
<OTHER-SE>                                       1,083
<TOTAL-LIABILITY-AND-EQUITY>                    19,993
<SALES>                                              0
<TOTAL-REVENUES>                                 1,729
<CGS>                                                0
<TOTAL-COSTS>                                    1,368<F3>
<OTHER-EXPENSES>                                   151
<LOSS-PROVISION>                                    65
<INTEREST-EXPENSE>                                   0<F3>
<INCOME-PRETAX>                                    145
<INCOME-TAX>                                        60
<INCOME-CONTINUING>                                 85
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                        85
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0
<FN>
<F1>Receivables include Investments in Operating Leases net of Accumulated
Depreciation and Finance Receivables net of Unearned Income.
<F2>Toyota Motor Credit Corporation's Balance Sheet is not classified into
Current and Long-Term Assets and Liabilities.
<F3>Total Costs includes Interest Expense and Depreciation on Operating
Leases.
</FN>
        

</TABLE>


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