TOYOTA ANNOUNCES MAJOR
U.S. MANUFACTURING PLANT

LEXINGTON, Kentucky, December 11, 1985 (Japan Time; December 12)―TOYOTA MOTOR CORPORATION today announced that it will build a major automobile manufacturing plant in Scott County, near Georgetown. The announcement was made by Dr. Shoichiro Toyoda, president and chief executive officer of Japan's largest and the world's third largest car manufacturer, at a press conference in Lexington.

"This manufacturing plant marks a significant advancement in our dream of achieving a full partnership with the American people," Dr. Toyoda stated. He noted that since the company began selling cars here in 1957, it has become the largest seller of imported cars and small trucks, has established a truck bed assembly plant in California and has a joint venture automobile manufacturing plant with General Motors, also in California. "During our entire history in the United States, we have been touched and rewarded by Americans reaching out to us. Today, we begin the newest phase of our relationship by reaching out to you," he said.

The Toyota plant in Scott County will include a stamping plant, assembly plant and additional facilities. It is expected to produce approximately 200,000 cars a year when it opens in the middle of 1988.

Dr. Toyoda said that the new plant will incorporate a new production system. "This will be a system that brings together the best of what we have achieved in Japan―including the production technology and methods we developed there―and the, best the American system has to offer. We will add to that combination the best of worldwide advanced technology", he said.

Dr. Toyoda said that Toyota has long considered the United States to be the country where virtually all of the important innovations in automotive technology, manufacturing and marketing were initiated. "We felt it to be a special privilege to be accepted into that tradition since we first came here in 1957," he added, "but our decision to build this plant in the United States also expresses our confidence that the American economy, American industry and the American worker have much to offer Toyota in the future."

Dr. Toyoda said that the company expects a favorable relationship with the employees at the Scott County plant.

"Throughout the history of Toyota, in Japan as well as at New United Motor in Fremont, we have succeeded because we have always considered human relationships to be very important. Our success was brought about by mutual trust, which is essential in a partnership situation," he said.

Dr. Toyoda said that the process of selecting Scott County as the site for Toyota's plant was "one of the most demanding in Toyota's history. Representatives from many states provided us with excellent proposals, each one of which received careful study against our criteria. Each proposal was strong in many areas, but, on balance, the proposal from Kentucky was the strongest."

"We believe that as a partner with the American people and the people of Kentucky we can contribute greatly to creating jobs and promoting economic growth. We are enthusiastic about involving ourselves both in our work and in the local community. We firmly believe in the importance of promoting the spirit of cooperation that a partnership requires", Dr. Toyoda said.

"This plant will move our dreams ahead significantly, It will help us provide our American customers with the high quality cars they want. It will meet their needs for adequate selection and availability. But, most important, it will demonstrate the benefits of cooperation to the prosperity of all who join us in this partnership," he concluded.