Dissolution of Subsidiary

Toyota Motor Corporation
30 March 2005

                                 (Translation)



To Whom It May Concern:



                                                                  March 31, 2005


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







Notice Concerning Dissolution of Subsidiary



We hereby give notification that at the meeting of the Board of Directors of
Toyota Motor Corporation ('TMC') held on March 31, 2005, TMC decided to dissolve
its subsidiary, Red Moon, LLC. ('RML'), as described below.



1. Reason for the Dissolution



    In May 2004, for the purpose of the land purchase for the Toyota Technical
Center, USA, Inc., a wholly owned subsidiary of TMC ('TTC'), TTC acquired RML,
established in March 2004 as a Michigan limited liability company, a subsidiary
of TTC, and an indirect subsidiary of TMC.

    As a result of entering into agreements which allow TTC to purchase the
aforementioned real estate, the necessity for TTC to continue the operations of
RML has ceased. Therefore, we have decided to dissolve RML in consideration of
simplifying the company operation.



2. Facts of subsidiary to be dissolved


Name:                    Red Moon, LLC
Location:                1555 Woodridge Avenue, Ann Arbor, Michigan, U.S.A
Formation:               March, 2004

                         Ownership acquired by TTC in May 2004
Capital:                 None
No. of employees:        0
Owner:                   TTC 100%



3. Schedule for the dissolution



    Dissolution scheduled in March 2005.



4. Anticipated effects on the consolidated revenues of TMC



    The anticipated effects of the dissolution of RML on TMC's business
performance are very minor.


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