Dissolution of Subsidiary

Toyota Motor Corporation
18 January 2005

                                 (Translation)



To Whom It May Concern:

                                                                January 18, 2005


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 Subsidiary



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 its
subsidiary, Daihatsu (Thailand) Limited, as described below.



1. Facts about Daihatsu (Thailand) Limited
Location:                     5/2289 Moo10, Tambol BangTalad, Amphur Pakkred, 
                              Nonthaburi, Thailand
Name of representative:       Nobuhiro Ueki
Capital:                      THB 20,000,000
Shareholder:                  DAIHATSU:  100%



2. Reason for dissolution



       As Daihatsu (Thailand) Limited is already in a dormant state and there
are no plans for resuming its business, we have resolved to dissolve Daihatsu
(Thailand) Limited.



3. Schedule for liquidation



       Scheduled to be liquidated in September 2006



4. Future outlook



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




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