Purchase of Own Securities

Toyota Motor Corporation
26 November 2003

                                 (TRANSLATION)



To Whom It May Concern:

                                                               November 26, 2003

                                                        Toyota Motor Corporation

                                               (Toyota Jidosha Kabushiki Kaisha)

                                    1, Toyota-cho, Toyota City, Aichi Prefecture





Notice of Repurchase of Shares through ToSTNeT-2

     (Repurchase of Shares Pursuant to the Provisions of Article 210 of the
                                Commercial Code)



Toyota Motor Corporation ('TMC') determined the method for repurchasing its
shares pursuant to the provisions of Article 210 of the Commercial Code and we
hereby inform you as follows.



1.         Method of repurchase

TMC will purchase its shares through ToSTNeT-2 (Tokyo Stock Exchange Trading
Network System-2) (closing price orders) at 8:45 a.m. on November 27, 2003 at
today's closing price, JPY 3,210 (the trading system and trading hours shall not
be changed to other systems and hours).  Such purchase order shall be made
during such trade hour only.



2.     Details of repurchase

(1)   Type of shares to be repurchased Shares of common stock of TMC

(2)   Aggregate number of shares to be repurchased        27,000,000 shares

        (Note 1) The above number of shares shall not be changed.  However,
there is a possibility that a part or all of such shares may not be repurchased
due to market conditions, etc.

        (Note 2) The shares for which orders to sell have been placed shall be
repurchased up to the number of shares scheduled to be repurchased.



3.    Publication of the results of repurchase

        The results of repurchase will be announced after the conclusion of the
8:45 a.m. trading hour of November 27, 2003.



(Reference)

•  Matters resolved at the FY 2003 Ordinary General Shareholders' Meeting held
on June 26, 2003.

   (1) Type of shares to be repurchased           Shares of common stock of TMC

   (2) Aggregate number of shares to be repurchased  Up to 150,000,000 shares

   (3) Aggregate purchase price           Up to JPY 400,000,000,000


•    Shares having been repurchased up to November 26, 2003

  (1) Aggregate number of shares repurchased     24,288,200  shares

        (2) Aggregate purchase price             JPY 74,321,892,000


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