Number of Listed Shares

Toyota Motor Corporation
20 November 2003

                           (Excerpt Translation)

                                                               November 20, 2003
                                                        Toyota Motor Corporation
                                               (Toyota Jidosha Kabushiki Kaisha)
                                    1, Toyota-cho, Toyota City, Aichi Prefecture

                     Report on Number of Listed Shares

We hereby report changes in the number of listed securities, as a result of the
exercise of stock acquisition rights, etc. ('Stock Acquisition Rights') in
October 2003 (the 'Current Month').

1. Summary

Number of listed shares as at the end of                   3,609,997,492 shares
the proceeding to the Current Month

Total number of shares changed during the                              0 shares
month

(out of which, as a result of exercise of                             (0 shares)
Stock Acquisition Rights)

(out of which, as a result of other                                   (0 shares)
reasons)

Number of listed shares as at the end of                   3,609,997,492 shares
the Current Month


2. Stock Acquisition Rights Exercised (Bonds with detachable warrants to
subscribe for shares)

Aggregate face value of the bonds allotted                      JPY 600,000,000
to the outstanding warrants as at the end
of the month

Aggregate face value of the bonds                                         JPY 0
originally allotted to the warrants
exercised during the month

Aggregate face value of the bonds as                            JPY 600,000,000
allotted to the outstanding warrants at
the end of the Current Month




(1) Number of shares

Total number of shares delivered during                                0 shares
the Current Month

(out of which, number of newly issued                                 (0 shares)
shares)

(out of which, number of shares                                       (0 shares)
transferred from treasury shares)

(2) Issue price

Aggregate issue price during the Current                                  JPY 0
Month

(out of which, aggregate amount of newly                                 (JPY 0)
issued shares)

(out of which, aggregate amount of shares                                (JPY 0)
transferred from treasury shares)



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