Purchase of Own Securities

Toyota Motor Corporation
25 January 2002


LETTER TO:  COMPANY ANNOUNCEMENTS OFFICE

                              Repurchase of Shares

We hereby inform you that at the meeting of the board of directors of Toyota
Motor Corporation ('TMC') held on January 25, 2002, TMC resolved to repurchase
its shares pursuant to the provisions of Article 3, paragraph 1 of the former
Law on Special Exceptions to the Commercial Code Concerning Procedures for
Cancellation of Shares, under the application of Article 3, paragraph 4 of the
Supplementary Provisions of the Law Concerning the Partial Amendments of the
Commercial Code, etc (Law No. 79, June 29, 2001). Shares to be repurchased
pursuant to this resolution will be held by TMC, and in case of disposal or
cancellation thereof, such shall be resolved, in advance, at a meeting of the
board of directors.

1. Type of shares to be repurchased               Shares of common stock of TMC

2. Aggregate purchase price of shares             Up to JPY 150,000,000,000

3. Aggregate number of shares to be repurchased   Up to 45,000,000 shares

(1) Number of outstanding shares of TMC           3,649,997,492 shares 
   (as of January 24,2002)

(2) Aggregate number of shares permitted to be repurchased pursuant to the 
    articles of incorporation of TMC              370,000,000 shares 

    (number of shares already repurchased and cancelled out of the above shares
                                                  159,284,600 shares)

Contact: TMC, Public Affairs at [phone]-6 (Tokyo Head Office) 
                                (0565)23-1520-4  (Head Office)
                                [phone]-3  (Nagoya)

From:  Toyoaki Kawaji (Toyota Motor Corporation)

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