Dissolution of subsidiary

Toyota Motor Corporation
23 October 2002

                                 (Translation)



To Whom It May Concern:



                                                                October 23, 2002
Company Name: Hino Motors, Ltd.

Name and Title of Representative:
Tadaaki Jagawa, President

Code Number: 7205
Securities exchanges throughout Japan

Name and Title of Contact Person:
Toshihisa Sakaki

General Manager, Public Relations Department, Corporate Planning Division

Telephone Number: 03-5419-9320



Parent Company of Hino Motors, 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:
Takanori Matsuo
General Manager, Accounting Division

Telephone Number: 0565-28-2121





                  Notice Concerning Dissolution of Subsidiary



We hereby notify you that TRANTECHS, LTD. ('TRANTECHS') subsidiary of Hino
Motors, Ltd. ('Hino'), decided to dissolve its subsidiary as follows.


1.     Name of and facts about the subsidiary to be dissolved

       Trade name:                      HINO BODY SEIBI CO., LTD.

       Established:                     December 1986

       Paid-in capital:                 JPY 10,000,000

       Issued shares:                   200 shares

       Total assets:                    JPY 49,000,000

       Number of employees:             23

       Major clients:                   TRANTECHS and Hino

       Major shareholder:               TRANTECHS  70%  (TRANTECHS is a wholly 
                                        owned subsidiary of Hino)
       Business performance (Fiscal Year 2002 ended March 31, 2002):
                                        Net sales - JPY 201,000,000

                                        Ordinary income - JPY 2,000,000
2.     Schedule for dissolution
       October 31, 2002 (scheduled)


3.     Reason for dissolution
       In order to improve the business efficiency of Hino group.


4.     Anticipated effects on our business performance
       The anticipated effects of the dissolution on each of Hino's and Toyota's 
       business performances will be minor.




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