Dissolution fo Subsidiary

Toyota Motor Corporation
16 November 2004

                                 (Translation)



To Whom It May Concern:                                      November 16, 2004


Company Name: DAIHATSU MOTOR CO., LTD.

Name and Title of Representative:
         Takaya Yamada, President
(Code Number: 7262
         Tokyo Stock Exchange and Osaka Stock
         Exchange)
Name and Title of Contact Person:
         Takanori Matsuo, Director and General
         Manager of Finance, Accounting and Cost
         Management Division
Telephone Number: 072-754-3062
Parent Company of DAIHATSU MOTOR CO., LTD.:
         TOYOTA MOTOR CORPORATION
Name and Title of Representative:
         Fujio Cho, President
(Code Number: 7203
         Securities exchanges throughout Japan)
Name and Title of Contact Person:
         Masaki Nakatsugawa
         General Manager, Accounting Division
Telephone Number: 0565-28-2121







Notice Concerning Dissolution of Subsidiaries



We hereby notify you that at the meeting of the Board of Directors of DAIHATSU
MOTOR CO., LTD. ('DAIHATSU') held today, DAIHATSU resolved to dissolve three of
its subsidiaries, Fahren Miyagi Co., Ltd., Itagaki Syouji Co., Ltd., and Itagaki
Kousan Co., Ltd., as described below.



The above three companies are the subsidiaries of Miyagi Daihatsu Hanbai Co.,
Ltd., a wholly-owned subsidiary of DAIHATSU.



1. Facts about the subsidiaries

(1) Fahren Miyagi Co., Ltd.


Location:                     22-18, Futabagaoka 1-chome, Aoba-ku, Sendai-shi
Name of representative:       Yoshishige Itagaki
Capital:                      JPY 30 million
Shareholder:                  Miyagi Daihatsu Hanbai Co., Ltd.:  100%



(2) Itagaki Syouji Co., Ltd.


Location:                     3-1, Kokubun-cho 3-chome, Aoba-ku, Sendai-shi
Name of representative:       Tadashi Ota
Capital:                      JPY 10 million
Shareholder:                  Miyagi Daihatsu Hanbai Co., Ltd.:  100%



(3) Itagaki Kousan Co., Ltd.


Location:                     3-1, Kokubun-cho 3-chome, Aoba-ku, Sendai-shi
Name of representative:       Tadashi Ota
Capital:                      JPY 10 million
Shareholder:                  Miyagi Daihatsu Hanbai Co., Ltd.:  100%





2. Reason for dissolution of the subsidiaries



       As the operating activities of the above three subsidiaries have already
been suspended, we have resolved to dissolve these subsidiaries.



3. Schedule for liquidation of the subsidiaries



       The above three subsidiaries are scheduled to initiate procedures for
liquidation promptly and are scheduled to be liquidated by the end of March,
2005.



4. Anticipated effects on our business performance



       The anticipated effects of the liquidation on each of DAIHATSU's and
TOYOTA MOTOR CORPORATION's business performance will be little.




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