Dissolution of a subsidiary

Toyota Motor Corporation
21 September 2007

                                 (Translation)



                                                              September 21, 2007



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 Subsidiaries



We hereby notify you that Aero Asahi Corporation ('AAC'), a subsidiary of Toyota
Motor Corporation ('TMC'), has decided to dissolve its subsidiaries as described
below.



1.    Names and Description of the Subsidiaries to be Dissolved



(1)

Trade Name:                        East Japan Aero Asahi Corporation
Location of Head Office:           1-1, Minamidai 3-chome, Kawagoe-shi, Saitama
Name of Representative:            Norio Iijima, Representative Director and President
Content of Business:               Surveying Services
Established:                       October 1981
Capital:                           JPY80 million
Total Assets:                      JPY186 million (as of March 31, 2007)
Number of Employees:               0 person
Main Clients:                      Local governments in eastern Japan
Shareholder Composition:           AAC 100%

                                   (TMC holds 99.11% of shares of AAC.)
Business Performances (Fiscal year ended March 31, 2007):
                                   Net Sales: JPY3 million
                                   Ordinary Loss: JPY2 million



(2)

Trade Name:                        West Japan Aero Asahi Corporation
Location of Head Office:           35-31, Tarumicho 3-chome, Suita-shi, Osaka
Name of Representative:            Yoshikazu Kimura, Representative Director and President
Content of Business:               Surveying Services
Established:                       August 1972
Capital:                           JPY40 million
Total Assets:                      JPY47 million (as of March 31, 2007)
Number of Employees:               0 person
Main Clients:                      Local governments in western Japan
Shareholder Composition:           AAC 100%

                                   (TMC holds 99.11% of shares of AAC.)
Business Performances (Fiscal year ended March 31, 2007):
                                   Net Sales: JPY39 million

                                   Ordinary Income: JPY0 million



(3)

Trade Name:                        Kyushu Aero Asahi Corporation
Location of Head Office:           12-1, Hakata-eki-higashi 3-chome, Hakata-ku, Fukuoka-shi, Fukuoka
Name of Representative:            Mikio Tsutsumi, Representative Director and President
Content of Business:               Surveying Services
Established:                       October 1996
Capital:                           JPY30 million
Total Assets:                      JPY9 million (as of March 31, 2007)
Number of Employees:               0 person
Main Clients:                      Local governments in Kyushu
Shareholder Composition:           AAC 100%

                                   (TMC holds 99.11% of shares of AAC.)
Business Performances (Fiscal year ended March 31, 2007):
                                   Net Sales: JPY0 million

                                   Ordinary Loss: JPY0 million


2.    Reason for the Dissolution

The above-mentioned three companies have been engaged in geospatial information
business, such as surveying.

However, all three companies have transferred a part of their business to AAC in
2002, and ceased their business

activities in April 2007.  Therefore, in order to enhance business efficiency,
AAC has decided to dissolve the above-

mentioned three companies.



3.    Schedule for the Dissolution



       Dissolution is scheduled to take place by the end of March 2008.



4.    Effects on Consolidated Sales and Earnings of TMC



       The effects of the dissolution of the above-mentioned three companies on
TMC's business performances are expected to be minor.




                      This information is provided by RNS
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