TOYOTA ESTABLISHES JOINT VENTURE COMPANY IN INDONESIA

Toyota Motor Company, Ltd., and Toyota Motor Sales Company, Ltd., announced today that they established P. T. Toyota-Mobilindo on November 23 as a joint venture with local capital participation for the production of motor vehicle components. The Indonesian Government granted approval on October 12 for carrying out all aspects of the Company's establishment, and formal application for registration of the Company will be filed at the Indonesian Ministry of Justice in the near future.