Dissolution of a Subsidiary

Toyota Motor Corporation
20 October 2006

                                 (Translation)



To Whom It May Concern:


October 20, 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 October 20, 2006, TMC resolved to
dissolve its subsidiary, Toyota Motor Asia Pacific Co., Ltd., as described
below.


1.  Facts of Toyota Motor Asia Pacific Co., Ltd.



Company Name:                       Toyota Motor Asia Pacific Co., Ltd.

Date of Incorporation:              July 2006

Location:                           186/1 Mool Old Railway Rd., T. Samrong Tai, U.Prapradaeng,
                                    Samutprakarn, Thailand

Representative:                     Ryoichi Sasaki

Capital:                            10 million baht

Number of Issued Shares:            10,000 shares

Number of Employees:                7 persons

Shareholder Composition:            TMC 100%

Contents of Business:               Support of TMC's production operations in Asia and Oceania



2.  Reason for Dissolution


In order to further develop and strengthen organizational collaboration of
production and technical functions with the aim to promote production
preparations and cost reduction efforts in Asia and Oceania, TMC has decided to
consolidate Toyota Technical Center Asia Pacific Thailand Co. Ltd. (TTCAP-TH),
which serves a technical function in Asia and Oceania, with Toyota Motor Asia
Pacific Co., Ltd, which was expected to serve a production support function in
the same region and which will be liquidated.



3.  Schedule for Liquidation



Liquidation proceedings are scheduled to begin promptly, in or after November 2006.



4.  Anticipated Effects on the Consolidated Revenues and Income



The anticipated effects on TMC and the Consolidated business results are minor.



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