Dissolution of a Subsidiary

Toyota Motor Corporation
02 September 2005

                                 (Translation)



To Whom It May Concern:

                                      Company Name: TOYOTA MOTOR CORPORATION
                                      Name and Title of Representative:
                                           Katsuaki Watanabe
                                      (Code Number: 7203
                                           Securities exchanges throughout Japan)
                                       Name and Title of Contact Person:
                                           Masaki Nakatsugawa
                                           General Manager, Accounting Division
                                           Telephone Number: 0565-28-2121


              Notice Concerning the Dissolution of a Subsidiary


We hereby notify you that, at the meeting of the Board of Directors of Toyota
Motor Corporation ('TMC') held on September 2, 2005, TMC decided to dissolve its
subsidiary as described below.



1.    Facts of the Subsidiary to be Dissolved



       Trade name:                Toyota Motor (China)Limited
       Date of Incorporation:     June, 1993
       Location:                  Unit 2702, Tower 1, Admiralty Centre,18 Harcourt Road, Hong Kong
       Name of Representative:    Masashi Isogai
       Capital:                   HKD 6 Million
       Issued Shares:             600,000 shares
       Total Assets:              HKD 643 Million (as of March 31, 2005)
       Number of Employees:       51 persons (as of March 31, 2005)
       Shareholders:              TMC 75%
                                  Toyota Tsusho Corporation 25%
       Contents of Business:      Import and sales, etc. of vehicles and parts for China
       Business Performance (Fiscal year ended March 31, 2005):
                                   Net revenues: HKD 5,840 Million


2.    Schedule for Dissolution


       Liquidation proceedings will start after the close of business activities
and, thereafter, Toyota Motor (China) Limited will be dissolved.


3.    Reason for Dissolution


       In order to develop consistent marketing activities in China, we have
decided to newly assign the businesses relating to the import and sales of
vehicles and parts to a subsidiary in China, which has received the necessary
authorizations to conduct the said businesses.  Accordingly, we have decided to
dissolve Toyota Motor (China) Limited which has been responsible for the said
businesses.



4.    Anticipated Effects on Business Performance



       The anticipated effects of the dissolution of Toyota Motor (China)
Limited on TMC's business performance and consolidated business performance are
minor.




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