Amendment Subsidiary Prospect

Toyota Motor Corporation
01 September 2003

                                 (Translation)


To Whom It May Concern:

                       Filed on September 1, 2003
                       Company Name: Toyota Auto Body Co., Ltd.
                            Name and Title of Representative:

                       Risuke Kubochi, President
                       Code Number: 7221

                            First Section of Tokyo and Nagoya Stock Exchanges
                       Name and Title of Contact Person:
                            Shinobu Ichikawa
                            Director & General Manager, Management 
                            Control@Division
                       Telephone Number: 0566-36-7522

                            (Parent Company)

                       Company Name: Toyota Motor Corporation
                       Name and Title of Representative:
                            Fujio Cho, President
                       Code Number: 7203

                            Securities exchanges throughout Japan
                            Name and Title of Contact Person:
                       Takahiko Ijichi

                            General Manager, Accounting Division
                       Telephone Number: 0565-28-2121


             Notice Concerning Amendments to the Business Prospects


Based on recent progress in our business performance, we made amendments to the
business performance prospects of Fiscal Year 2004 (starting from April 1, 2003
and ending on March 31, 2004) of Toyota Auto Body Co., Ltd. ('TAB') disclosed
upon the announcement of the financial statements on April 24, 2003, as follows:
     
1.   Amendments to the prospective figures of non-consolidated interim business 
     performance of Fiscal Year 2004 ending March 31, 2004 (from April 1, 2003 
     to September 30, 2003)

                                                                            (In millions of yen,%)
  
                                                Net sales         Ordinary income     Interim net income
Previous prospects (A)                                  435,000                8,500                5,000
New prospects (B)                                       435,000                8,500               26,000
Amount changed                                                -                    -               21,000

(B - A)
% of change                                                   -                    -                420.0
(Reference)                                             451,136                8,138               13,137

Actual performance for the period from
April 1, 2002 to September 30, 2002
(Interim period of FY2003)

     
2.   Amendments to the prospective figures of consolidated interim business 
     performance of Fiscal Year 2004 ending March 31, 2004 (from April 1, 2003 
     to September 30, 2003)

                                                                               (In millions of yen,%)

                                                Net sales         Ordinary income     Interim net income
Previous prospects (A)                                  445,000                9,300                5,500
New prospects (B)                                       445,000                9,300               26,500
Amount changed                                                -                    -               21,000

(B - A)
% of change                                                   -                    -                381.8
(Reference)                                             458,880                8,978               13,607

Actual performance for the period from
April 1, 2002 to September 30, 2002
(Interim period of FY2003)
          
3.   Amendments to the prospective figures of non-consolidated business 
     performance of Fiscal Year 2004 ending March 31, 2004 (from April 1, 2003 
     to March 31, 2004)

                                                                          (In millions of yen,%)

                                                Net sales         Ordinary income         Net income
Previous prospects (A)                                  820,000               15,000                9,000
New prospects (B)                                       820,000               15,000               30,000
Amount changed                                                -                    -               21,000

(B - A)
% of change                                                   -                    -                233.3
(Reference)                                             912,872               16,543               17,777

Actual performance for the period from
April 1, 2002 to March 31, 2003 (FY2003)
     
4.   Amendments to the prospective figures of consolidated business performance 
     of Fiscal Year 2004 ending March 31, 2004 (from April 1, 2003 to March 31, 
     2004)

                                                                             (In millions of yen,%)

                                                Net sales         Ordinary income         Net income
Previous prospects (A)                                  840,000               16,500                9,800
New prospects (B)                                       840,000               16,500               30,800
Amount changed                                                -                    -               21,000

(B - A)
% of change                                                   -                    -                214.3
(Reference)                                             929,745               18,098               18,600

Actual performance for the period from
April 1, 2002 to March 31, 2003 (FY2003)

     
5.   Reason for the Amendments

     On May 30, 2003, Toyota Motor Corporation ('TMC' - a major shareholder of
     TAB) purchased additional shares of TAB and came to hold a majority of 
     TAB's voting rights.  In connection with the above, TAB sold its TMC shares 
     pursuant to Article 211-2 of the Commercial Code and accordingly, TAB 
     reported the gain from such sales as extraordinary profit and amended the 
     prospective figures for the net income.  The amendments made to the 
     consolidated business performance prospects also reflect the fluctuation in 
     TAB's performance.


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