Dissolution of a subsidiary

Toyota Motor Corporation
24 January 2008

                                 (Translation)

                                                                January 24, 2008

To Whom It May Concern:


Company Name:

     TOYOTA MOTOR CORPORATION

Name and Title of Representative:

     Katsuaki Watanabe, President
    (Code Number: 7203 Securities exchanges throughout Japan)

Name and Title of Contact Person:

     Takuo Sasaki
     General Manager, Accounting Division
     (Telephone Number: 0565-28-2121)



       Notice Concerning the Dissolution of a Subsidiary of a Subsidiary


We hereby notify you that Central Motor Wheel Co., Ltd. ('CMW'), a subsidiary of
Toyota Motor Corporation ('TMC'), has decided to dissolve CMW's subsidiary, as
described below.


1.    Name and Summary of the Subsidiary of a Subsidiary to be Dissolved


Trade Name:                        Chuo Seiki Corporate Services, Inc.

Location:                          2271 W. 205th Street, South 104, Torrance, CA 90501, U.S.A.

Name of Representative:            Tadahiko Yamamoto, President, CEO, CFO

Content of Business:               Sale of automobile-related products

Date of Incorporation:             February 23, 1995

Capital:                           USD 100,000

Total Assets:                      USD 495,000 (as of March 31, 2007)

Number of Employees:               2 (as of March 31, 2007)

Main Clients:                      Macpek, WD Wheel

Shareholder Composition:           CMW 100%

                                   (TMC holds 51.7% of shares of CMW.)

Business Performances (Fiscal year ended March 31, 2007):

                                   Net Sales: USD 1,758,000

                                   Operating Income: USD 292,000

                                   Net Income: USD 122,000

2.    Reason for the Dissolution


Enhancement of management efficiency within the TMC group is contemplated
through the dissolution of the above-mentioned subsidiary of CMW.



3.    Schedule for the Dissolution



Dissolution is scheduled to take place on March 31, 2008 after
liquidation proceedings subsequent to the cessation of business operation.


4.    Anticipated Effects on the Business Performance (Consolidated Sales and
Income) of TMC


The anticipated effects of the dissolution of the above-mentioned
subsidiary of CMW on TMC's business performances are minor.


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