3rd Quarter Results

Toyota Motor Corporation
05 February 2008

                                                           For immediate release

                                                                February 5, 2008



                Toyota Announces Record Third Quarter Operating Results
  -Net Revenue, Operating income and Net income Mark New Record for the Third
                                    Quarter-
  (All consolidated financial information has been prepared in accordance with
        accounting principles generally accepted in the United States)


Tokyo - TOYOTA MOTOR CORPORATION (TMC) today announced operating results
for the third quarter ended December 31, 2007.

On a consolidated basis, net revenues for the third quarter totaled 6.71
trillion yen, an increase of 9.2 percent compared to the same period last fiscal
year. Operating income increased 4.7 percent to 601.5 billion yen, while income
before income taxes, minority interest and equity in earnings of affiliated
companies was 652.7 billion yen.  Net income increased by 7.5 percent to 458.6
billion yen.


Positive contributions to operating income totaled 140.0 billion yen, consisting
of 100.0 billion yen from marketing efforts and 40.0 billion yen from cost
reduction efforts. Negative factors totaled 113.2 billion yen.


Commenting on the results, Takeshi Suzuki, TMC Senior Managing Director, said,


'For this period, we posted our highest ever quarterly results for the third
quarter in both revenues and profits, despite the severe business environment.
Operating income has become more equally balanced among the regions, with
significant higher contribution from growing markets, specifically emerging and
resource-rich countries. We believe our record high financial results can be
attributed to Toyota's growth strategy of utilizing every opportunity across the
full product line-up and all regions. '



Consolidated vehicle sales for the third quarter amounted to 2.281 million
units, an increase of 126 thousand units compared with the same period last
fiscal year.



In Japan, vehicle sales were 541 thousand units. Operating income increased by
5.9 billion yen to 389.4 billion yen, due to launches of new models as well as
an increase in domestic production to meet increased overseas demand.



Vehicle sales in North America totaled 756 thousand units, a decrease of 8
thousand units. Operating income decreased by 35.5 billion yen, to 63.6 billion
yen, due to the valuation loss on interest rate swaps from declines in interest
rates. However, sales of the new Tundra and fuel-efficient models such as the
Prius were strong.



In Europe, vehicle sales increased by 2 thousand units, to 308 thousand units.
Operating income was 34.0 billion yen, which was nearly flat over the same
period last fiscal year. Vehicle sales in some markets including Germany
decreased, while sales in Russia and the Eastern European countries showed
steady growth, due to strong sales of models such as the Camry and the Auris.



Sales in Asia increased by 37 thousand units to 241 thousand units. Operating
income in the region more than doubled, to 64.3 billion yen. Increase in sales
volume, especially in Indonesia and Thailand and the production capacity
increase in Thailand to meet the recovering market demand contributed to the
profit increase. In addition, our consolidated subsidiaries in China greatly
contributed to the earnings as well.


In the other regions including South and Central America, Africa and Oceania,
sales reached 435 thousand units, an increase of 95 thousand units, due to the
incremental sales in all of these regions. As a result, operating income
increased by 18.9 billion yen, to 49.9 billion yen.



Suzuki also commented on the shareholders' return, 'Our net income has grown
rapidly in recent years. We plan to actively return value from our increased
earnings to our shareholders'.



The Board of Directors has resolved to purchase the maximum number of shares
authorized at the ordinary General Shareholders' Meeting held in June 2007 by
further acquiring the remaining authorized shares, up to 10 million shares. In
addition, it has authorized to purchase additional shares, up to 12 million
shares, by the end of this month. Altogether, the company will purchase up to
the lesser of 22 million shares or 120 billion yen. Further, the Board of
Directors has resolved to cancel 162 million shares of treasury stock during the
current fiscal year to define improvement of capital efficiency. The remaining
approximately 300 million shares will be kept as treasury stock to secure
management flexibility.



TMC estimates that the projected consolidated vehicle sales for the fiscal year
ending March 31, 2008 will be 8.93 million units, which is unchanged from TMC's
forecast announced in November 2007. The company's consolidated revenues and
earnings forecast for the fiscal year also remains unchanged, with consolidated
net revenues of 25.5 trillion yen, operating income of 2.3 trillion yen and net
income of 1.7 trillion yen.





 (Please see attached information for details on financial results. Further
information is also available on the Internet at www.toyota.co.jp)

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Cautionary Statement with Respect to Forward-Looking Statements

This release contains forward-looking statements that reflect Toyota's plans and
expectations.  These forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and other factors
that may cause Toyota's 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.  These factors include: (i) changes in economic conditions and
market demand affecting, and the competitive environment in, the automotive
markets in Japan, North America, Europe and other markets in which Toyota
operates; (ii) fluctuations in currency exchange rates, particularly with
respect to the value of the Japanese yen, the U.S. dollar, the Euro, the
Australian dollar and the British pound; (iii) Toyota's ability to realize
production efficiencies and to implement capital expenditures at the levels and
times planned by management; (iv) changes in the laws, regulations and
government policies in the markets in which Toyota operates that affect Toyota's
automotive operations, particularly laws, regulations and government policies
relating to trade, environmental protection, vehicle emissions, vehicle fuel
economy and vehicle safety, as well as changes in laws, regulations and
government policies that affect Toyota's other operations, including the outcome
of future litigation and other legal proceedings; (v) political instability in
the markets in which Toyota operates; (vi) Toyota's ability to timely develop
and achieve market acceptance of new products; and (vii) fuel shortages or
interruptions in transportation systems, labor strikes, work stoppages or other
interruptions to, or difficulties in, the employment of labor in the major
markets where Toyota purchases materials, components and supplies for the
production of its products or where its products are produced, distributed or
sold.

A discussion of these and other factors which may affect Toyota's actual
results, performance, achievements or financial position is contained in
Toyota's annual report on Form 20-F, which is on file with the United States
Securities and Exchange Commission.



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