Re Amend to BusinessProspects

Toyota Motor Corporation
22 September 2000

Amendment to the Business Prospects

                   

Filed on September 22, 2000
Company Name:  Toyota Motor Corporation
Address:  1 Toyota-cho, Toyota City, Aichi
          Prefecture
Code Number:  7203
Listed Securities Exchange:
Securities exchanges throughout Japan.
Fiscal Year:  Fiscal Year ending March 31, 2001 (FY 2001)
Name and Title of Contact Person:
  Takasuke Haruki
  General Manager
  Accounting Division
  Telephone Number:  0565-28-2121

              
                      Amendment to the Business Prospects  

1.  We hereby make amendments to the business performance prospects
(unconsolidated) for the first half of FY 2001 (from April 1, 2000 through
September 30, 2000) disclosed upon the announcement of the financial statements
of FY 2000 on May 17, 2000 as follows:



                             Net sales     Ordinary income    Net income

Previous prospects (A)      Y 3,600 billion   Y 170 billion     Y70 billion
New prospects (B)           Y 3,700 billion   Y 220 billion    Y100 billion
Amount changed              Y   100 billion   Y  50 billion    Y 30 billion
(B)-(A)
% of change                      2.8%             29.4%           42.9%

2.  Reasons for the Amendment

The business performance for the first half of FY 2001 is expected to exceed the
initial prospects as a result of the increase in number of units sold in the
domestic market and foreign markets, mainly North America and Europe.

(Reference:  Year-to-year actual performance)



                              Net sales      Ordinary income     Net income
First half of FY2000        Y3,570.1 billion   Y288.3 billion    Y173.6 billion

Note:

This amendment contains forward-looking statements.  These forward-looking
statements involve known and unknown risks, uncertainties and other factors that
may cause our actual results, performance or financial position to be materially
different from any future results, performance or financial position expressed
or implied by these projections.  These factors include:  (a) changes in
economic conditions affecting the automotive markets in which we operate; (b)
fluctuations in currency exchange rates; (c) our ability to realize production
efficiencies and to implement capital expenditures at the levels and times
planned by management; (d) changes in laws, regulations and government policies
affecting our automotive operations; (e) political instability in the markets in
which we operate; and (f) difficulties and impediments to the conduct of our
business caused by events outside our control.  A discussion of these and other
factors is contained in our Registration Statement on Form F-1, which is on file
with the United States Securities and Exchange Commission.