Number of Listed Shares

Toyota Motor Corporation
20 February 2004

                             (Excerpt Translation)





                                                               February 20, 2004

                                                        Toyota Motor Corporation

                                               (Toyota Jidosha Kabushiki Kaisha)

                                    1, Toyota-cho, Toyota City, Aichi Prefecture



                        Report on Number of Listed Shares
                        _________________________________



We hereby report changes in the number of listed securities, as a result of the
exercise of stock acquisition rights, etc. ('Stock Acquisition Rights') in
January 2004 (the 'Current Month').




1.          Summary
     Number of listed shares as at the end of the                  3,609,997,492 shares
     proceeding month

     Total number of shares changed during the month                           0 shares

     (out of which, as a result of exercise of Stock                          (0 shares)
     Acquisition Rights)

     (out of which, as a result of other reasons)                             (0 shares)

     Number of listed shares as at the end of the Current          3,609,997,492 shares
     Month


2.   Stock Acquisition Rights Exercised (Bonds with detachable warrants 
     to subscribe for shares)

     Aggregate face value of the bonds allotted to the                  JPY 600,000,000
     outstanding warrants as at the end of the month

     Aggregate face value of the bonds originally allotted                        JPY 0
     to the warrants exercised during the month

     Aggregate face value of the bonds as allotted to the               JPY 600,000,000
     outstanding warrants at the end of the Current Month







(1) Number of shares
     Total number of shares delivered during the Current                      0 shares
     Month

     (out of which, number of newly issued shares)                           (0 shares)

     (out of which, number of shares transferred from                        (0 shares)
     treasury shares)

(2) Issue price
     Aggregate issue price during the Current Month                              JPY 0

     (out of which, aggregate amount of newly issued                            (JPY 0)
     shares)

     (out of which, aggregate amount of shares transferred                      (JPY 0)
     from treasury shares)




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