Toyota 2015 Annual Report Download - page 132

Fees Incurred in Fiscal 2016
For fiscal 2016, Toyota received $326,319.23 from the Depositary for standard out-of-pocket maintenance
costs for the ADRs (consisting of the expenses of postage and envelopes for mailing annual reports, printing and
distributing dividend checks, stationery, postage, facsimile, and telephone calls) and expenses relating to
Toyota’s annual general shareholders’ meeting that are incurred with respect to Toyota’s ADR holders. The
Depositary also paid Toyota’s continuing annual stock exchange listing fees.
Fees to be Paid in the Future
With regards to the ADS program, the Depositary has agreed to pay the standard out-of-pocket maintenance
costs for the ADRs, which includes the expenses of postage and envelopes for mailing annual reports, printing
and distributing dividend checks, stationery, postage, facsimile and telephone calls. It has also agreed to pay for
investor relations expenses and any other program related expenses. The limit on the amount of expenses for
which the Depositary will pay is the sum of $300,000 annually. In addition, the Depositary has agreed to pay
Toyota 50% of the net dividend fees collected by the Depositary during each annual period towards the
aforementioned expenses.
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