Stmt Re: Toyota Home Corp

Toyota Motor Corporation
28 March 2003

                                                           For immediate release

                                                                  March 28, 2003



Toyota Housing Corporation to Head Toyota Home Sales Efforts



Tokyo - TOYOTA MOTOR CORPORATION (TMC) announced today plans to strengthen its
housing business by establishing on April 1 a sales company called Toyota
Housing Corporation.  The aim of the new company will be to more quickly and
accurately understand customers' needs for timely and appropriate response in
terms of product planning and sales.



Following the complete transfer of the product planning and sales functions of
TMC's Housing Group to Toyota Housing Corporation, the new company will commence
full-scale business operations on Jan. 1, 2004.  It will strive to strengthen
the public's awareness of the Toyota Home brand, which has become an established
name in Japan's house-building industry and on which the new company's Japanese
name (Toyota Home Kabushikigaisha) is based.



Toyota Housing Corporation's business will center on product planning for houses
and condominiums and on sales, construction and maintenance of such units.  It
will also promote locally oriented sales efforts in close coordination with
Toyota Home dealers and hire skilled and enthusiastic workers to strengthen its
human resources.



Based on the spirit of 'Innovation into the Future', TMC has also formulated a
directional outline labeled 'Housing Business 2010 Vision' meant to serve as a
launch pad for strengthening TMC's housing business in the 21st century.  From
this new starting point, based on TMC's original mission 'to contribute to
society through making things', TMC aims to establish itself as a top company in
the housing business by the end of the 2010s, consolidate the strengths of the
Toyota Group and offer customers a wider array of housing-related services.



As a first step toward this goal, TMC has launched a new three-year plan from
FY2003 in which it aims to be not only the sales leader of detached houses in
the Tokai area, but to also strengthen its presence in the Tokyo metropolitan
area and other key markets.


TMC entered the home-construction business in 1975.  Since then-under the banner
of 'truly wanting to make Japanese homes better'-it has provided an abundant
lineup of products, including condominiums, built using its unit building
system, steel framework construction method or residential steel framing
technique.



This year it is placing special emphasis on the peace-of-mind elements of
earthquake-durability, security and safety, and, in Aichi Prefecture, it is
seeking to achieve three straight fiscal years as the No. 1 seller of detached
houses.



Outline of new housing sales company

Company name                Toyota Housing Corporation
Date of establishment       April 1, 2003
Date of operations start    January 1, 2004
Location of headquarters    Nagoya, Aichi Prefecture (in TMC's Nagoya Building)
Capitalization              Undecided (100 million yen at time of establishment)
Ownership                   TMC 100%
Number of employees         Approx. 200 (from Jan. 1, 2004)
Chairman                    Noritaka Shimizu
President                   Teiji Tachibana
Sales                       100 billion yen (target for FY2005)





Contact: Shinya Matsumoto/Paul Nolasco 03-3817-9150/9161


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