Stmt Re:New Management System

Toyota Motor Corporation
28 March 2003
                                                           For immediate release
                                                                  March 28, 2003

                   Toyota to Introduce New Management System
    Streamlined Board, New Managing Officers Aimed at Faster Decision-making

Tokyo - TOYOTA MOTOR CORPORATION (TMC) announced today that following this
year's general shareholders meeting in June it plans to introduce a new
management system that features, among other enhancements, a streamlined board
of directors and the new position of non-board managing officer.

With global competition growing evermore severe, the new management system is
aimed at boosting TMC's competitiveness as the company strives toward objectives
outlined in its 2010 Global Vision announced in April 2002.  This system is
meant to make the most of TMC's traditional strengths of placing at its
management core people capable of understanding and putting into practice TMC's
corporate principles and of practicing hands-on decision-making (genchi 
genbutsu*).  It is also aimed at accelerating managerial processes by 
streamlining the number of board members and at speeding up operations by making
the decision-making structure less vertical.  At the same time, the system hopes
to strengthen corporate auditing efforts by increasing the number of outside
corporate auditors.

With the implementation of this new system, TMC targets further growth and
development as a global company.

Highlights of new management system
Streamlined board of directors

The new board of directors will consist of 20-30 members of senior managing
director rank or higher.  Each will be appointed for a one-year term.

Non-board managing officers

Such officers (under a performance-based system) will number about 30-40
persons, each in charge of daily operations in specific fields/divisions, and
include non-Japanese and younger appointees, as well as executives resident at
TMC's overseas affiliates, whose numbers will be increased.  Each will be
appointed for a one-year term.

Less-vertical decision-making

Matters concerning daily operations in specific fields/divisions will be settled
at no higher than the level of senior managing director; senior managing
directors, as the highest authorities in their areas of supervision, will
participate in overall management of the company while overseeing 'on-site'
decision-making related to their fields of operations.

Improved auditing

Outside corporate auditors will be increased-out of a total of seven corporate
auditors, four will come from outside the company.

*Going to an issue's source to understand the actual situation, build consensus
and expediently achieve one's goal



                                       Contact:    Shinya Matsumoto 03-3817-9150

                                                       Paul Nolasco 03-3817-9161


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