Purchase of Own Securities

Toyota Motor Corporation
1 December 1999


                      NOTICES OF REPURCHASE OF SHARES

       (Cancellation of Shares Stipulated in 'Law on Special Exceptions to 
        Commercial Code Concerning Procedures for Cancellation of Shares')

The Company's board of directors resolved to repurchase its shares at its
meeting held on December 1, 1999. We inform you as follows.

1.  Type of shares to be repurchased               Par value shares of 
                                                   common stock of the 
                                                   Company

2.  Aggregate number of shares to be repurchased   Up to 8,000,000 shares
3.  Aggregate purchase price of shares             Up to 3,000,000,000
                                                   yen


(Reference)
(1)  Number of the outstanding shares of the Company 3,760,650,129 shares
     (as of November 30, 1999)
(2)  Aggregate number of shares permitted to be repurchased and cancelled 
     pursuant to the articles of incorporation          370,000,000 shares


Inquiry about this matter shall be made to:
Public Affairs Division of Toyota Jidosha Kabushiki Kaisha
                                     Tel   [phone] (Tokyo Head Office)   
                                    Tel   [phone] (Head Office)
                                     Tel   [phone] (Nagoya Office)


                          RE:  REPURCHASE OF SHARES            

DATED:   24 NOVEMBER 1999

The Company repurchased its shares from the market for the purpose of
transferring the shares to its directors pursuant to Article 210-2, paragraph 1
of the Commercial Code.  We inform you as follows:


1.   Purchase period                       November 19 through 24, 1999
2.   Number of shares repurchased          465,000 shares
3.   Aggregate purchase price of shares    1,757,950,000 yen
4.   Method of repurchase                  Purchase on the Tokyo Stock
                                           Exchange 

(Reference)
Number of shares with respect to which options were granted to the directors as
of August 1, 1999

*  9 Representative Directors - 15,000 shares each 

*  19 Titled Directors        - 10,000 shares each

*  28 Ordinary Directors      -  5,000 shares each


Inquiry about this matter shall be made to:
Public Affairs Division of Toyota Jidosha Kabushiki Kaisha
                                     Tel   [phone] (Tokyo Head Office)   
                                    Tel   [phone] (Head Office)
                                     Tel   [phone] (Nagoya Office)