Dissolution of a subsidiary

Toyota Motor Corporation
11 January 2007

                                 (Translation)


To Whom It May Concern:


January 11, 2007


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 on January 11, 2007, Toyota Motor Corporation
('TMC') determined to dissolve its subsidiary, TOYOTA VIGURU CO., LTD., as
described below.


1.  Facts of TOYOTA VIGURU CO., LTD.


Location:                     27 Chiwari, 5 Otobe, Morioka-shi, Iwate Prefecture

Representative:               Toshiyuki Yasa

Date of Incorporation:        December 1970

Capital:                      30,000,000 yen

Shareholder Composition:      IWATE TOYOTA CO., LTD.:  76.7%
                              TOYOTA COROLLA MINAMI IWATE CO., LTD.:   23.3%

Contents of Business:         Inspection of vehicles for sale and vehicle 
                              transport services


2.  Reason for Dissolution


In order to achieve further efficiency on new car related operations for vehicle
dealers in Akita and Iwate area, Toyota Transportation Co., LTD, a subsidiary of
TMC, established TOYOTA TRANSPORTATION TOHOKU CENTER CO., LTD. in July 2006.

Since the inspection of vehicles for sale and vehicle transport services which
have been conducted by TOYOTA VIGURU CO., LTD. will be transferred to TOYOTA
TRANSPORTATION TOHOKU CENTER CO., LTD., TMC has determined to dissolve TOYOTA
VIGURU CO., LTD.


3.  Schedule for Liquidation


     Liquidation proceedings are scheduled to begin after January 11, 2007.


4.  Anticipated Effects on the Business Performance


     The anticipated effects of the dissolution of TOYOTA VIGURU CO., LTD. on
     TMC's business performance are minor.


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