Response to Press Comment

Toyota Motor Corporation
24 April 2001


                      Comments on Press Coverage Concerning
               'Hino Motors, Ltd. (Hino) Becoming a Subsidiary of 
             Toyota Motor Corporation (Toyota) Through Subscription
                    New Shares by Toyota for Capital Increase'

With respect to some of the press coverage made as of today (April 24, 2001), we
hereby inform you of our comments as follows:

Comments

We are now taking consideration concerning the subscription of new shares of
Hino to be issued for capital increase. 

We will make an announcement as soon as details are decided thereon.


Contact: TMC, Public Affairs at [phone]-6 (Tokyo Head Office)
                                (0565) 23-1520-4 (Head Office)
                                [phone]-3 (Nagoya)