Jun. 07, 2004

Notice of Repurchase of Shares through ToSTNeT-2

(Repurchase of Shares Pursuant to the Provisions of Article 210 of the Commercial Code)

Toyota Motor Corporation (“TMC”) determined the method for repurchasing its shares pursuant to the provisions of Article 210 of the Commercial Code and we hereby inform you as follows.

1. Method of repurchase
TMC will purchase its shares through ToSTNeT-2 (Tokyo Stock Exchange Trading Network System-2) (closing price orders) at 8:45 a.m. on June 8, 2004 at today’s closing price, JPY 4,150 (the trading system and trading hours shall not be changed to other systems and hours). Such purchase order shall be made during such trade hour only.

2. Details of repurchase

(1) Type of shares to be repurchased

Shares of common stock of TMC

(2) Aggregate number of shares to be repurchased

21,300,000 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 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.

3. Publication of the results of repurchase
The results of repurchase will be announced after the conclusion of the 8:45 a.m. trading hour of June 8, 2004.

(Reference)
·Matters resolved at the FY 2003 Ordinary General Shareholders’ Meeting held on June 26, 2003.
(1) Type of shares to be repurchased	Shares of common stock of TMC
(2) Aggregate number of shares to be repurchased	Up to 150,000,000 shares
(3) Aggregate purchase price	Up to JPY 400,000,000,000

·Shares having been repurchased up to June 7, 2004
(1) Aggregate number of shares repurchased	93,028,200 shares
(2) Aggregate purchase price	JPY 311,425,992,000