Notice Repurchase of Shares

Toyota Motor Corporation
07 June 2004

                                 (TRANSLATION)



To Whom It May Concern:

                                                                    June 7, 2004

                                                        Toyota Motor Corporation
                                               (Toyota Jidosha Kabushiki Kaisha)
                                    1, Toyota-cho, Toyota City, Aichi Prefecture





             Notice of Repurchase of Shares through ToSTNeT-2

     (Repurchase of Shares Pursuant to the Provisions of Article 210 of the
                                Commercial Code)



Toyota Motor Corporation ('TMC') determined the method for repurchasing its
shares pursuant to the provisions of Article 210 of the Commercial Code and we
hereby inform you as follows.



1.    Method of repurchase

TMC will purchase its shares through ToSTNeT-2 (Tokyo Stock Exchange Trading
Network System-2) (closing price orders) at 8:45 a.m. on June 8, 2004 at today's
closing price, JPY 4,150 (the trading system and trading hours shall not be
changed to other systems and hours).  Such purchase order shall be made during
such trade hour only.



2.    Details of repurchase

(1)   Type of shares to be repurchased                             Shares of common stock of TMC
(2)   Aggregate number of shares to be repurchased                 21,300,000 shares

      (Note 1) The above number of shares shall not be changed.  However,
there is a possibility that a part or all of such shares may not be repurchased
due to market conditions, etc.

      (Note 2) The shares for which orders to sell have been placed shall be
repurchased up to the number of shares scheduled to be repurchased.



3.    Publication of the results of repurchase

      The results of repurchase will be announced after the conclusion of the
8:45 a.m. trading hour of June 8, 2004.



(Reference)

•    Matters resolved at the FY 2003 Ordinary General Shareholders' Meeting held
on June 26, 2003.

(1)   Type of shares to be repurchased                             Shares of common stock of TMC
(2)   Aggregate number of shares to be repurchased                 Up to 150,000,000 shares
(3)   Aggregate purchase price                                     Up to JPY 400,000,000,000



•    Shares having been repurchased up to June 7, 2004

(1)  Aggregate number of shares repurchased                        93,028,200 shares
(2)  Aggregate purchase price                                      JPY 311,425,992,000




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