Repurchase of Shares

Toyota Motor Corporation
15 May 2006

                                 (TRANSLATION)



To Whom It May Concern:



                                                                    May 15, 2006
                                                        Toyota Motor Corporation
                                               (Toyota Jidosha Kabushiki Kaisha)
                                    1, Toyota-cho, Toyota City, Aichi Prefecture





                  Notice of Repurchase of Shares through
          N-NET Closing Price Orders on Nagoya Stock Exchange





Toyota Motor Corporation ('TMC') determined the method for repurchasing its
shares pursuant to the provisions of Article 210 of the Commercial Code (under
the application of a transitional measure pursuant to Article 81 of the Act for
Maintenance, Etc. of Relevant Acts Relating to the Enforcement of the
Corporation Act) and we hereby inform you as follows.


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

2.  Aggregate number of shares to be repurchased   27,000,000 shares

3.  Date of repurchase                             May 16, 2006

4.  Purchase price                                 JPY 6,250 per share

5.  Method of repurchase

    Purchase through N-NET closing price orders on the Nagoya Stock Exchange 
    during the period from 8: 20 a.m. to 9:00 a.m. on May 16, 2006 (purchase 
    orders shall be made during such trading hours only.)

6.  Publication of the results of repurchase

    The results of repurchase will be announced after the conclusion of the 
    9:00 a.m. trading hour of May 16, 2006.

   (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.


(Reference)

Matters resolved at the 101st Ordinary General Shareholders' Meeting held on
June 23, 2005

•  Type of shares to be repurchased   Shares of common stock of TMC
•  Aggregate number of shares to be repurchased   Up to 65,000,000 shares
•  Aggregate purchase price of shares   Up to JPY 250,000,000,000



Shares having been repurchased up to May 15, 2006

•  Aggregate number of shares repurchased   11,575,000 shares
•  Aggregate purchase price of shares   JPY 71,880,750,000






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