Subsidiary-Projection Amend 1

Toyota Motor Corporation
25 April 2003

                                 (Translation)



                                                         Filed on April 25, 2003

To Whom It May Concern:
                                                Company Name:  Hino Motors, Ltd.
                                                Name and Title of Representative:
                                                  Tadaaki Jagawa, President
                                                Code Number: 7205
                                                  Securities exchanges throughout Japan
                                                Name and Title of Contact Person:
                                                  Toshihisa Sakaki
                                                  General Manager, Public Relations Department, 
                                                  Corporate Planning Division
                                                Telephone Number: 03-5419-9320
                                                Our Parent Company: Toyota Motor Corporation
                                                Name and Title of Representative:
                                                  Fujio Cho, President
                                                Code Number: 7203
                                                  Securities exchanges throughout Japan



                        Notice Concerning Amendments to
              the Business Performance Projections (Consolidated)


Based on recent trends in our business performance, we hereby make the following
amendments to the business performance projections disclosed upon the
announcement of the financial statements on October 28, 2002:


1.           Amendments to the prospective figures of consolidated business
performance of the Fiscal Year 2003 ending March 31, 2003 (from April 1, 2002 to
March 31, 2003)

                                                                                 (In millions of yen, %)
                                                      Net sales        Ordinary income   Net income/(loss)
Previous projections (A)                                   840,000             10,000              7,000
(Announced on October 28, 2002)

New projections (B)                                        850,317             16,582              4,959

Amount changed                                              10,317              6,582            (2,040)
(B - A)

% of change                                                   1.2%              65.8%            (29.1%)

Actual performance from April 1, 2001 to                   758,640              4,622              8,369
March 31, 2002 (FY2002)



2.   Reasons for the Amendments



The prospective figures of the consolidated business performance of the Fiscal
Year 2003 were announced in October 2002.  As a result of increase in sales of
trucks in Japan and vehicles overseas after such announcement, the net sales is
expected to increase by 1.2% from the previous projection.

Due to the increase in sales and rationalization efforts, ordinary income is
expected to increase from the previously announced projection figure.

However, as the loss from write-down of investment securities is expected to be
recorded due to the decline in the stock market, the net sales is expected to be
lower than the previously announced projection figure.


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