Holding in an Affiliate

Toyota Motor Corporation
24 March 2003

                                 (TRANSLATION)

Form No. 1 (1)
                                                                            Acceptance
                            Amendment No 6 (a)                  Accepting Accepted   Local   Number
                                                                                    Finance
                                                                  Local     Year
                                                                 Finance           Bureau in

                                                                 Bureau             Charge
                            (Report in accordance with Article
                            27-25,

                            Paragraph 1 of the Securities and
                            Exchange Law)



To:  Director of Tokai Local Finance Bureau




Name           Fujio Cho, President, Toyota Motor    (b)                    Effective date of          March 17, 2003
               Corporation                                                  reporting duty             (c)
Address or
head
office         1 Toyota-cho, Toyota City, Aichi      (b)                    Submitted on               March 24, 2003
location       Prefecture






I.  Matters Regarding Submitter

1. Issuing company (d)
 Name of issuing   Denso Corporation     Company          6902             Page number/Total page     1/7
                                          code                             number
     company                           *(1.)       2. Over-the-counter
                                       Listed
Listed securities * (1.) Tokyo     (2.) Osaka         (3.) Nagoya          Total number of             2
                                                                           submitter and joint
    exchange                                                               holders
                  4. Fukuoka       5. Sapporo
   Head office     1-1, Showa-cho, Kariya City, Aichi Prefecture           Submitting method (e)  * (1.)
    location                                                                                      Jointly

                                                                                                  2. Others



2. Submitter (Substantial Shareholder) (f)
*  1. Individual

(2.) Judicial person  ( (1.) Joint stock company   2. Limited liability company   3. Other (  ))
(Pronunciation)                                            (omitted in translation)

Name                                                       Toyota Motor Corporation

(Pronunciation)                                            (omitted in translation)

Address or head office location             1 Toyota-cho, Toyota City, Aichi Prefecture, 471-8571

(Pronunciation)                                            (omitted in translation)

Former name

(Pronunciation)                                            (omitted in translation)

Former address or head office
location
Individual  Date of birth                   (pronunciation)               (omitted in translation)
                                            Office's name
            Occupation                      Office's address
 Judicial   Date of incorporation           (pronunciation)           (omitted in       Title of
  person                                                             translation)       Representative
            August 27, 1937
                                                                                             President
                                            Name of                    Fujio Cho
                                            representative

            Business       The manufacture, sale, leasing and repair of motor vehicles, ships, aircraft,
            purposes       other transportation machinery and apparatus, space machinery and apparatus, and
                           parts thereof, etc.
Place to contact and name  Yuji Maki, Project General Manager of Planning Department, Accounting Division
of person in charge
                                                       Telephone number              0565 (28) 2121

3. Holding purposes (g)
For strategic investment (maintenance and development of the business relationship)

                                                           End of Form No. 1 (1)





Form No. 1 (2)
Company code of              6902
issuing company                                               Page number/Total page              2/7
                                                              number


Name of submitter                                         Toyota Motor Corporation

(Substantial Shareholder)



4. Breakdown of stock, etc. held by the submitter (h)

                     Main Text of Article 27-23, Article 27-23, Paragraph   Article 27-23, Paragraph 3,
                     Paragraph 3                 3, Item 1                  Item 2

  Shares                   207,626,856  shares                      shares                         shares

  Warrants           A     ---          shares                              G                      shares

  Certificate of     B     ---          shares                              H                      shares
  stock acquisition
  rights
  Bonds with stock   C     0            shares                              I                      shares
  acquisition rights
  Covered warrants   D     ---                                              J
  relating to
  applicable
  securities
  Depositary               ---
  receipts
  representing
  ownership interest
  in shares
  Other related      E     ---                                              K
  depositary
  receipts
  Bonds redeemable   F     ---                                              L
  by applicable
  securities
  Total              M     207,626,856  shares   N                shares    O                      shares

Number of shares, etc.,    P        ---
which were transferred
through a margin
transaction and which are                        Total number of issued and S        884,068,713 shares
to be deducted
                                                  outstanding shares

Number of held shares,     Q    207,626,856      (as of March 1, 2003)
etc.,

(Total)(M+N+O-P)                                 Percentage of shares, etc.                23.49 %
                                                 held by the above-stated
                                                 submitter
Number of potentially      R        ---
diluted shares held                              (Q/(R+S)x100)
                                                 Percentage of shares, etc.                24.52 %
(A+B+C+D+E+F+G+H+I+J+K+L)                        held stated in preceding
                                                 report




5. Conditions concerning acquisition or disposal during the last sixty (60) days
of shares, etc. issued by issuing company(i)
      Date        Kind of stock, etc.        Number        Distinction between acquisition and  Unit Price
                                                                        disposal
March 17, 2003   Shares of Common Stock 4,787,200 shares  *1  Acquisition  (2) Disposal         JPY 1,777

                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal
                                                          *1  Acquisition  2  Disposal

                                                           End of Form No. 1 (2)





Form No. 1 (3)
Company code of             6902
                                                             Page number/Total page               3/7
issuing company                                              number


Name of submitter                                         Toyota Motor Corporation
(Substantial Shareholder)



6. Material agreements including security agreements related to the shares, etc. (j)
Not Applicable



7. Funds for acquiring held shares, etc. (k)

(1) Breakdown of funds for acquisition
  Amount of own    T           81,107,879              Total amount of borrowed U             ---
 funds (JPY1,000)                                          funds (JPY1,000)


Other funds (specifically)   Not Applicable
                                                             Total amount of other   V          ---
                                                                funds (JPY1,000)


Total amount of funds for                                       81,107,879
acquisition
 (T+U+V) (JPY1,000)



(2) Breakdown of loans
Number * Name (Name of branch)  Type of business * Name of representative  * Location 'Purpose' of borrowing   Amount
                                                                                                             (JPY1,000)
  1         Not Applicable                                                                    * 1  2
  2                                                                                           * 1  2
  3                                                                                           * 1  2
  4                                                                                           * 1  2
  5                                                                                           * 1  2
  6                                                                                           * 1  2
  7                                                                                           * 1  2
  8                                                                                           * 1  2
  9                                                                                           * 1  2
  10                                                                                          * 1  2

                                                                                               End of Form No. 1 (3)





Form No. 1 (1)
                                                                            Acceptance
                            Amendment No 6 (a)                  Accepting Accepted   Local   Number
                                                                                    Finance
                                                                  Local     Year
                                                                 Finance           Bureau in

                                                                 Bureau             Charge
                            (Report in accordance with Article
                            27-25,

                             Paragraph 1 of the Securities and
                            Exchange Law)



To:     Director of Tokai Local Finance Bureau




Name                                      (b)             Effective date of reporting     March 17, 2003 (c)
                                                          duty
Address or head

office location                           (b)             Submitted on                    March 24, 2003





I.  Matters Regarding Submitter

1. Issuing company (d)
Name of issuing   Denso Corporation     Company          6902             Page number/Total page       4/7
    company                              code
                                                                          number
                                      *(1.)       2. Over-the-counter
                                      Listed
     Listed      * (1.) Tokyo     (2.) Osaka         (3.) Nagoya          Total number of               2
   securities                                                             submitter and joint
    exchange                                                              holders
                 4. Fukuoka       5. Sapporo

  Head office     1-1, Showa-cho, Kariya City, Aichi Prefecture           Submitting method (e)   * (1.)
    location                                                                                      Jointly

                                                                                                  2. Others



2. Submitter (Substantial Shareholder) (f)
*1. Individual

(2.) Judicial person    ((1.) Joint stock company    2. Limited liability company    3. Other (  ))
(Pronunciation)                                           (omitted in translation)

Name                                                         Hino Motors, Ltd.

(Pronunciation)                                           (omitted in translation)

Address or head office location               1-1, Hinodai 3-chome, Hino City, Tokyo, 191-8660

(Pronunciation)                                           (omitted in translation)

Former name

(Pronunciation)                                           (omitted in translation)

Former address or head office
location
Individual  Date of birth                   (pronunciation)               (omitted in translation)
                                            Office's name
            Occupation                      Office's address
 Judicial   Date of incorporation           (pronunciation)           (omitted in       Title of
  person                                                             translation)       Representative
            May 1, 1942                     Name of                 Tadaaki Jagawa
                                            representative                                   President
            Business      The manufacture and sale of trucks and buses, and development, designing of
            purposes      products related thereto and offering of other services, etc.

Place to contact and name Takatoshi Ishigami, General Manager of Accounting Division
of person in charge
                                                       Telephone number              042 (586) 5140

3. Holding purposes (g)
 For strategic investment (maintenance and development of the business relationship)

                                                           End of Form No. 1 (1)





Form No. 1 (2)
Company code of              6902
issuing company                                               Page number/Total page              5/7
                                                              number


Name of submitter                                            Hino Motors, Ltd.

(Substantial Shareholder)



4. Breakdown of stock, etc. held by the submitter (h)

                     Main Text of Article      Article 27-23, Paragraph   Article 27-23, Paragraph 3,
                     27-23, Paragraph 3        3, Item 1                  Item 2
  Shares                    343,146    shares                --- shares                  --- shares

  Warrants           A      ---        shares                             G                  shares

  Certificate of     B      ---        shares                             H                  shares
  stock acquisition
  rights
  Bonds with stock   C      ---        shares                             I                  shares
  acquisition rights
  Covered warrants   D      ---                                           J

  relating to
  applicable
  securities
  Depositary                ---
  receipts
  representing
  ownership interest
  in shares
  Other related      E      ---                                           K
  depositary
  receipts
  Bonds redeemable   F      ---                                           L
  by applicable
  securities
  Total              M      343,146    shares  N             --- shares   O              --- shares

Number of shares, etc.,   P      ---
which were transferred
through a margin
transaction and which are                          Total number of issued   S      884,068,713 shares
to be deducted                                     and outstanding shares

Number of held shares,    Q      343,146           (as of March 1, 2003)
etc.,
                                                   Percentage of shares,                  0.04 %
(Total)(M+N+O-P)                                   etc. held by the
                                                   above-stated submitter
Number of potentially     R      ---
diluted shares held                                (Q/(R+S)x100)
                                                   Percentage of shares,                  0.04 %
(A+B+C+D+E+F+G+H+I+J+K+L)                          etc. held stated in
                                                   preceding report




5. Conditions concerning acquisition or disposal during the last sixty (60) days
of shares, etc. issued by issuing company(i)
Date            Kind of stock, etc. Number      Distinction between acquisition and       Unit Price
                                                disposal
Not applicable                                  *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal
                                                *1  Acquisition  2  Disposal

                                                           End of Form No. 1 (2)





Form No. 1 (3)
Company code of             6902
                                                             Page number/Total page               6/7
issuing company                                              number


Name of submitter                                            Hino Motors, Ltd.
(Substantial Shareholder)



6. Material agreements including security agreements related to the shares, etc.(j)
Not Applicable



7. Funds for acquiring held shares, etc. (k)

(1) Breakdown of funds for acquisition
Amount of own funds T                ---                      Total amount of      U             ---
    (JPY1,000)
                                                         borrowed funds (JPY1,000)


Other funds         Not Applicable
(specifically)
                                                         Total amount of other    V           ---
                                                            funds (JPY1,000)


Total amount of funds for                                           ---
acquisition
  (T+U+V) (JPY1,000)



(2) Breakdown of loans
Number * Name (Name of branch)  Type of business * Name of representative  * Location 'Purpose' of borrowing   Amount

                                                                                                             (JPY1,000)
  1         Not Applicable                                                                    * 1  2
  2                                                                                           * 1  2
  3                                                                                           * 1  2
  4                                                                                           * 1  2
  5                                                                                           * 1  2
  6                                                                                           * 1  2
  7                                                                                           * 1  2
  8                                                                                           * 1  2
  9                                                                                           * 1  2
  10                                                                                          * 1  2

                                                                                                   End of Form No. 1 (3)



Form No. 1 (6)
Company code of             6902
                                                             Page number/Total page               7/7
issuing company                                              number


Name of submitter            Toyota Motor Corporation            Total number of                  2
                                                                 submitter and joint
(Substantial Shareholder)                                        holders
                                                                 Submitting method       * (1.)  Jointly

                                                                                         2.  Others

III. Summary List Regarding Submitter and Joint Holders

1. Submitter and joint holders (n)
Toyota Motor Corporation
Hino Motors, Ltd.














2. Breakdown of stock, etc. held by the submitter and the joint holders (o)
                  Main Text of Article 27-23,     Article 27-23, Paragraph 3,   Article 27-23, Paragraph 3,
                  Paragraph 3                     Item 1                        Item 2
  Shares                207,970,002     shares                   --- shares                  --- shares

  Warrants        A     ---             shares                                  G                shares

  Certificate of  B     ---             shares                                  H                shares
  stock
  acquisition
  rights
  Bonds with      C     0               shares                                  I                shares
  stock
  acquisition
  rights
  Covered         D     ---                                                     J
  warrants

  relating to
  applicable
  securities
  Depositary            ---
  receipts
  representing
  ownership
  interest in
  shares
  Other related   E     ---                                                     K
  depositary
  receipts
  Bonds           F     ---                                                     L
  redeemable by
  applicable
  securities
  Total           M     207,970,002     shares    N              --- shares     O            --- shares

Number of shares, etc.,    P         ---
which were

transferred through a
margin transaction                                          Total number of issued   S    884,068,713 shares
                                                            and
and which are to be
deducted                                                     outstanding shares

Number of held shares,     Q       207,970,002 shares       (as of March 1, 2003)
etc.,

(Total)(M+N+O-P)                                            Percentage of shares,               23.52 %
                                                            etc. held by the
                                                            above-stated submitter
Number of potentially      R                 0 shares
diluted shares held                                         (Q/(R+S)x100)
                                                            Percentage of shares,               24,56 %
(A+B+C+D+E+F+G+H+I+J+K+L)                                   etc. held stated in
                                                            preceding report


                                                           End of Form No. 1 (6)


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