Feb. 28, 2002

Notice of Repurchase of Shares through ToSTNeT-2

Toyota Motor Corporation ("TMC") determined the method for repurchasing shares in accordance with the provision 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), and we hereby inform you as follows.

Method of repurchase
TMC will purchase its shares through ToSTNeT-2 (Tokyo Stock Exchange Trading Network System) (closing price orders) at 8:45 a.m. of March 1, 2002, at today's closing price, JPY 3,420 (the trading system and trading hours shall not be changed to other systems and hours). Such purchase order shall be made at such trading hour only.

Details of repurchase

(1)

Type of shares to be repurchased

Shares of common stock of TMC

(2)

Aggregate number of shares to be repurchased

23,000,000 shares

(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 the market conditions, etc.
(Note 2)	The shares for which orders to sell have been placed shall be purchased up to the number of shares scheduled to be repurchased.

(3)

Publication of the results of repurchase
The results of repurchase will be published after the 8:45 a.m. trading hour of March 1, 2002.

*Reference*
1.	Matters resolved at the meeting of the Board of Directors held on January 25, 2002
	(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
2.	Number of shares having been repurchased up to February 28,2002
	(1)	Aggregate purchase price of shares	JPY 19,999,841,000
	(2)	Aggregate number of shares repurchased	5,791,900 shares