Result of AGM

Toyota Motor Corporation
24 June 2005



                                                                   June 23, 2005

To All Shareholders:

                                                     President Katsuaki Watanabe
                                                        TOYOTA MOTOR CORPORATION
                                    1, Toyota-cho, Toyota City, Aichi Prefecture


 Notice of Resolutions Adopted at FY2005 Ordinary General Shareholders' Meeting
     (Unless otherwise stated, all financial information has been prepared
      in accordance with generally accepted accounting principles in Japan)
        English translation from the original Japanese-language document



Dear Shareholder,


The reports given and resolutions adopted at today's FY2005 Ordinary General
Shareholders' Meeting are as below.


Report:


1.  Reports on the business report, unconsolidated balance sheet and statement 
    of income for the FY2005 term (April 1, 2004 through March 31, 2005)


2.  Reports on the consolidated balance sheet and statement of income for the 
    FY2005 term (April 1, 2004 through March 31, 2005) and the report by 
    accounting auditors and board of corporate auditors on the audit results
    of the consolidated financial statements.


Details pertaining to the above 1 and 2 were reported.



Resolutions:


  Proposed Resolution 1: Approval of Proposed Appropriation of Retained Earnings
for the FY2005 Term

                       The year-end dividend of 40 yen per share was approved as 
per the proposed resolution.

                       Combined with the interim dividend, the total shareholder 
dividend for the fiscal year ended March 31, 2005 will be 65 yen per share.



  Proposed Resolution 2: Election of 26 Directors

                       Approved as per the proposed resolution.  The following
26 persons were elected and have taken up their positions as directors:
Hiroshi Okuda, Katsuhiro Nakagawa, Fujio Cho, Katsuaki Watanabe, Tokuichi
Uranishi, Kazuo Okamoto, Kyoji Sasazu, Mitsuo Kinoshita, Yoshimi Inaba, Takeshi
Uchiyamada, Masatami Takimoto, Akio Toyoda, Tetsuo Hattori, Takeshi Suzuki,
Shoichiro Toyoda, Yukitoshi Funo, Atsushi Niimi, Hajime Wakayama, Hiroshi
Takada, Teiji Tachibana, Shinichi Sasaki, Shin Kanada, Akira Okabe, Yoshio
Shirai, Yoichiro Ichimaru, and Shoji Ikawa.


  Proposed Resolution 3: Election of 1 Corporate Auditor

                       Approved as per the proposed resolution.  Hiromu Okabe 
was elected and has taken up his position as an auditor.  Mr. Hiromu Okabe 
satisfies the qualifications of an outside corporate auditor as
provided in Paragraph 1, Article 18 of the 'Special Law of the Commercial Code
Concerning the Audit, etc., of Stock Corporations (Kabushiki-kaisha).'


  Proposed Resolution 4: Issue of Stock Acquisition Rights without Consideration
to Directors, Managing Officers and Employees, etc., of Toyota Motor Corporation
and its Affiliates


                       Approved as per the proposed resolution.  Pursuant 
to Article 280-20 and Article 280-21 of the Commercial Code, Stock Acquisition 
Rights shall be granted without consideration, for the purpose of granting 
stock options, to directors, managing officers and employees, etc., of TMC and 
its affiliates.


  Proposed Resolution 5: Repurchase of Shares

                       Approved as per the proposed resolution.  In order to 
improve capital efficiency and to implement flexible capital policies in 
accordance with the business environment, authorization has been gained to 
repurchase shares of TMC common stock, up to 65 million shares and to a maximum 
value of 250 billion yen, pursuant to the  provisions of Article 210 of the 
Commercial Code, after the conclusion of this Ordinary General Shareholders' 
Meeting and until the conclusion of the next Ordinary Shareholders' Meeting.



  Proposed Resolution 6: Award of Bonus Payments to Retiring Directors

                       Approved as per the proposed resolution.  The bonuses 
paid to retiring 10 directors Kosuke Ikebuchi, Akihiko Saito, Ryuji Araki, 
Yoshio Ishizaka, Kosuke Shiramizu, Kazushi Iwatsuki, Yasuhito Yamauchi, 
Takashi Kamio, Hiroyuki Watanabe and Akio Matsubara for their dedicated efforts 
in the past.  The actual amounts and the timing and method of payment, etc. 
will be determined in accordance with TMC's standards by the Board of Directors.





  Proposed Resolution 7: Amendment of the Articles of Incorporation (Part 1)

                       Rejected


Proposed Resolution 8: Amendment of the Articles of Incorporation (Part 2)

                       Rejected




At the conclusion of today's Ordinary General Shareholders' Meeting, a Board of
Directors meeting was held where 26 persons were elected as directors with
special titles and 48 managing officers were elected and took up their
respective positions.


Chairman of the Board Hiroshi Okuda, Vice Chairman Fujio Cho, Vice Chairman
Katsuhiro Nakagawa, President Katsuaki Watanabe, Executive Vice President
Tokuichi Uranishi, Executive Vice President Kazuo Okamoto, Executive Vice
President Kyoji Sasazu, Executive Vice President Mitsuo Kinoshita, Executive
Vice President Yoshimi Inaba, Executive Vice President Takeshi Uchiyamada,
Executive Vice President Masatami Takimoto, and Executive Vice President Akio
Toyoda were elected and took up positions as representative directors.



The new directors are as follows:


Chairman of the Board       Hiroshi Okuda               Senior Managing Director       Hiroshi Takada
Vice Chairman               Fujio Cho                   Senior Managing Director       Teiji Tachibana
Vice Chairman               Katsuhiro Nakagawa          Senior Managing Director       Shinichi Sasaki
President                   Katsuaki Watanabe           Senior Managing Director       Shin Kanada
Executive Vice President    Tokuichi Uranishi           Senior Managing Director       Akira Okabe
Executive Vice President    Kazuo Okamoto               Senior Managing Director       Yoshio Shirai
Executive Vice President    Kyoji Sasazu                Senior Managing Director       Yoichiro Ichimaru
Executive Vice President    Mitsuo Kinoshita            Senior Managing Director       Shoji Ikawa
Executive Vice President    Yoshimi Inaba               Honorary Chairman              Shoichiro Toyoda
Executive Vice President    Takeshi Uchiyamada          Full-time Corporate Auditor    Hideaki Miyahara
Executive Vice President    Masatami Takimoto           Full-time Corporate Auditor    Yoshiro Hayashi
Executive Vice President    Akio Toyoda                 Full-time Corporate Auditor    Chiaki Yamaguchi
Senior Managing Director    Tetsuo Hattori              Corporate Auditor              Yasutaka Okamura
Senior Managing Director    Yukitoshi Funo              Corporate Auditor              Hiromu Okabe
Senior Managing Director    Takeshi Suzuki              Corporate Auditor              Yoichi Kaya
Senior Managing Director    Atsushi Niimi               Corporate Auditor              Tadashi Ishikawa
Senior Managing Director    Hajime Wakayama



Managing Officers


Koichi Ina                  Seiichi Sudo                  Nobuyoshi Hisada            Toshiki Hayama
Yoshikazu Amano             Yasuhiko Ichihashi            Yasumori Ihara              Takahiro Iwase
Takeshi Yoshida             Tadashi Yamashina             Mitsuhisa Kato              Akihito Tsuji
Shinzo Kobuki               Takashi Hata                  Takahiko Ijichi             Yoshihiko Masuda
Akira Sasaki                James E. Press                Toshio Furutani             Nobuo Kobayashi
Hiroshi Kawakami            Gary L. Convis                Tetsuo Agata                Yoshimasa Ishii
Hitoshi Nishiyama           Alan J. Jones                 John H. Conomos             Tatsuya Kaneko
Iwao Nihashi                Wahei Hirai                   Panagiotis                  Takeshi Shirane
                                                          J.Athanasopoulos
Tadashi Arashiima           Tatehito Ueda                 Senta Morioka               Masanao Tomozoe
Masamoto Maekawa            Takashi Shigematsu            Hironobu Inoue              Katsunori Itasaka
Mamoru Furuhashi            Yuzo Ushiyama                 Kazuhiko Takarada           Tokuyuki Takahashi
Satoshi Ozawa               Yoshikatsu Tanaka             Masayuki Nakai              Real C. Tanguay





At the conclusion of this Ordinary General Shareholders' Meeting, following 7
former directors who have retired upon the expiration of their term of office
have taken up their positions as advisors:

Former Vice Chairman Kosuke Ikebuchi, Former Executive Vice President Akihiko
Saito, Former Executive Vice President Ryuji Araki, Former Executive Vice
President Yoshio Ishizaka, Former Executive Vice President Kosuke Shiramizu,
Former Executive Vice President Kazushi Iwatsuki, Former Senior Managing
Director Takashi Kamio.


                      This information is provided by RNS
            The company news service from the London Stock Exchange