Purchase of Own Securities

Toyota Motor Corporation
23 March 2001

LETTER TO: COMPANY ANNOUNCEMENT OFFICE

Re:  Repurchase of Shares

We hereby inform you that Toyota Motor Corporation ('TMC') repurchased its
shares from the market for the purpose of the cancellation of the shares using
its profits as follows pursuant to Article 3 of the 'Law on Special Exceptions
to the Commercial Code Concerning Procedures for Cancellation of Shares'.
We also inform that with this repurchase, we have completed all repurchases of
shares under the resolution of the Meeting of the Board of Directors held on
January 16, 2001.

1. Purchase period                              February 22,2001 through March
                                                23, 2001

2. Number of shares repurchased                 5,615,500 shares

3. Aggregate purchase price of shares           JPY 22,619,915,000

4. Method of repurchase                         Purchase on the Tokyo Stock 
                                                Exchange

(Reference)
(1) Details of the authorization given at the Meeting of the Board of Directors
(January 16, 2001)

 Type of shares to be repurchased               Par value shares of common
                                                stock of TMC

 Aggregate purchase price of shares             Up to JPY 250,000,000,000

 Aggregate number of shares to be repurchased   Up to 75,000,000 shares

(2) Aggregate number of shares having been repurchased

 Aggregate purchase price of shares             JPY 237,211,937,000

 Aggregate number of shares repurchased         58,996,600 shares

Contact: TMC, Public Affairs at [phone]-6 (Tokyo Head Office)
                                (0565) 23-1520-4 (Head Office)
                                [phone]-3 (Nagoya)

From:  Toyoaki Kawaji