Amendment Subsidiary Prospect

Toyota Motor Corporation
01 September 2003


                                 (Translation)



To Whom It May Concern:



                                        Filed on September 1, 2003
                                        Company Name: Kanto Auto Works, Ltd.

                                        Name and Title of Representative:
                                            Susumu Uchikawa, President

                                        Code Number: 7223


                              First Section of Tokyo and Nagoya Stock Exchanges

                              Name and Title of Contact Person:
                              Yosuke Uematsu

                              General Manager, Finance and Cost Management 
                              Division

                              Telephone Number: 046-861-5111



                              (Parent Company)

                              Company Name: Toyota Motor Corporation

                              Name and Title of Representative:
                              Fujio Cho, President

                              Code Number: 7203

                              Securities exchanges throughout Japan

                              Name and Title of Contact Person:
                              Takahiko Ijichi

                              General Manager, Accounting Division

                              Telephone Number: 0565-28-2121





             Notice Concerning Amendments to the Business Prospects


Based on recent progress in our business performance, we hereby make amendments
to the prospective figures of interim business performance of Fiscal Year 2004
ending March 31, 2004 (starting from April 1, 2003 and ending on September 30,
2003) (announced on July 31, 2003) and the prospective figures of the business
performance of Fiscal Year 2004 ending March 31, 2004 (starting from April 1,
2003 and ending on March 31, 2004) (announced on April 24, 2003) of Kanto Auto
Works Ltd., ('KAW') as follows:



1.           Amendments to the prospective figures of non-consolidated interim
business performance of Fiscal Year 2004 ending March 31, 2004 (from April 1,
2003 to September 30, 2003)

                                                            (In millions of yen)

                                                Net sales         Ordinary income     Interim net income

Previous prospects (A)                                  275,000                5,500                3,600

(Announced on July 31, 2003)
New prospects (B)                                       275,000                5,500                8,600
Amount changed                                                -                    -                5,000

(B - A)
% of change                                                   -                    -               138.9%
From April 1, 2002 to September 30, 2002                272,711                3,488                6,836

(Actual performance of interim
 period of FY2003)


2.           Amendments to the prospective figures of consolidated interim
business performance of Fiscal Year 2004 ending March 31, 2004 (from April 1,
2003 to September 30, 2003)

                                                            (In millions of yen)

                                                Net sales         Ordinary income     Interim net income

Previous prospects (A)                                  291,500                5,700                3,700

(Announced on July 31, 2003)
New prospects (B)                                       291,500                5,700                8,700
Amount changed                                                -                    -                5,000

(B - A)
% of change                                                   -                    -               135.1%
From April 1, 2002 to September 30, 2002                283,362                2,983                7,088

(Actual performance of interim period of
FY2003)



3.           Amendments to the prospective figures of non-consolidated business
performance of Fiscal Year 2004 ending March 31, 2004 (from April 1, 2003 to
March 31, 2004)

                                                            (In millions of yen)

                                                Net sales         Ordinary income         Net income

Previous prospects (A)                                  508,000               10,500                6,700

(Announced on April 24, 2003)
New prospects (B)                                       508,000               10,500               11,700
Amount changed                                                -                    -                5,000

(B - A)
% of change                                                   -                    -                74.6%
From April 1, 2002 to March 31, 2003                    559,826               10,154               10,278

(Actual performance of FY2003)



4.           Amendments to the prospective figures of consolidated business
performance of Fiscal Year 2004 ending March 31, 2004 (from April 1, 2003 to
March 31, 2004)

                                                            (In millions of yen)

                                                Net sales         Ordinary income         Net income

Previous prospects (A)                                  531,000               10,900                6,800

(Announced on April 24, 2003)
New prospects (B)                                       531,000               10,900               11,800
Amount changed                                                -                    -                5,000

(B - A)
% of change                                                   -                    -                73.5%
From April 1, 2002 to March 31, 2003                    583,008               10,266               10,637

(Actual performance of FY2003)



5.   Reasons for the Amendments

   Based on the resolution made at the meeting of the Board of Directors of
Toyota Motor Corporation ('TMC') held on May 30, 2003, TMC (a major shareholder
of KAW) purchased additional shares of KAW on the same day and came to hold a
majority of KAW's voting rights.

      In connection with the above, pursuant to Article 211-2 of the Commercial
Code, KAW sold all of TMC's shares which it held to TMC through an
off-the-market transaction on September 1, 2003.

      The amendments made to the prospective figures of KAW's business
performance include the extraordinary profit rising out of the above
transaction.




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