Re Purchase of Own Securities

Toyota Motor Corporation
13 May 2002



                  Notice Concerning Repurchase and Cancellation of Shares
              (Repurchase of Shares under Article 210 and Cancellation thereof 
                          under Article 212 of the Commercial Code)


At its meeting held on May 13, 2002, the Board of Directors of Toyota Motor
Corporation ('TMC') resolved to propose an agenda asking for authorization to
repurchase its shares under the provision of Article 210 of the Commercial Code
at the FY2002 Ordinary General Shareholders' Meeting to be held on June 26,2002,
and to cancel the shares held by TMC as of May 13, 2002 under the provision of
Article 212 of the Commercial Code. We hereby inform you as follows.

1. Repurchase of shares

  (1) Reasons for repurchase

      In order to improve capital efficiency and to implement flexible capital 
      policies in accordance with the business environment.

  (2) Type of shares to be repurchased               Shares of common stock of
                                                     TMC

  (3) Aggregate purchase price of shares             Up to JPY 600,000,000,000

  (4) Aggregate number of shares to be repurchased   Up to 170,000,000 shares

(Note) The above resolution shall be conditional upon the agendum 'Repurchase of
Shares' being approved at the FY2002 Ordinary General Meeting of Shareholders
scheduled to be held on June 26, 2002.
 
2.  Cancellation of shares

  (1) Type of shares to be cancelled                 Shares of common stock of
                                                     TMC

  (2) Aggregate number of shares to be cancelled     40,000,000 shares

(Reference)

Number of issued shares of TMC                        3,649,997,492 shares
(as of March 31, 2002)


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