dissolution of a Subsidiary

Toyota Motor Corporation
26 December 2006

                                 (Translation)



To Whom It May Concern:



December 26, 2006



Company Name:TOYOTA MOTOR CORPORATION

Name and Title of Representative:
Katsuaki Watanabe, President

(Code Number:7203
Securities exchanges throughout Japan)

Name and Title of Contact Person:
Takuo Sasaki
General Manager, Accounting Division

(Telephone Number:0565-28-2121)



               Notice Concerning the Dissolution of a Subsidiary

We hereby give notification that at the meeting of the Board of Directors of
Toyota Motor Corporation ('TMC') held on December 26, 2006, TMC resolved to
dissolve its subsidiary,  Sichuan TOYOTA Nitan Development Co., Ltd., as
described below.


1.  Facts of Sichuan TOYOTA Nitan Development Co., Ltd.

Location:                              1, Xi Lu Xinshiji Tianfu Avenue, Chengdu,
                                       Sichuan Province, China

Representative:                        Kazuyoshi Ohki (President)

Date of Incorporation:                 June 2002

Capital:                               29,550,000 yuan (approximately 440
                                       million Japanese yen)

Shareholder Composition:               TMC:    100%

Contents of Business:                  Mining, processing and sale of peat


2.  Reason for Dissolution

As it became difficult to renew the peat mining rights in the property that is
currently being mined, and the business results of Sichuan TOYOTA Nitan
Development Co., Ltd. have been poor since its establishment and there are no
prospects of profitability, TMC has decided to dissolve Sichuan TOYOTA Nitan
Development Co., Ltd.


3.  Schedule for Liquidation

    Liquidation proceedings are scheduled to begin in or after February 2007.


4.  Anticipated Effects on the Business Performance

    The anticipated effects of the dissolution of Sichuan TOYOTA Nitan
Development Co., Ltd. on TMC's business performance are minor.




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