Number of Listed Shares

Toyota Motor Corporation
22 March 2004

                             (Excerpt Translation)





                                                                  March 22, 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
February 2004 (the 'Current Month').




1.          Summary
     Number of listed shares as of the end of the          3,609,997,492 shares
     preceding 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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