Toyota Financial Services Finances Over $100 Billion In Retail and Lease Contracts

    TORRANCE, Calif., April 25 This month, Toyota Financial
Services (TFS) surpassed the $100 billion mark for the financing of
automotive-related retail and lease contracts.
    Since opening its doors in 1983, TFS has grown from a small company with
eight associates to become the third largest captive finance company, and the
9th largest finance company in the United States.  TFS currently employs over
2700 associates nationwide, and has managed assets totaling $32 billion.
    George Borst, President and CEO of Toyota Financial Services, said,
"The foundation of our success has been the ability to provide consistent,
long-term support to our dealers, as well as provide quality products and
service to our mutual customers.  In addition, our continued growth has been a
result of making ongoing changes to meet new business opportunities."
    The Toyota Financial Services of today started its humble beginnings as
Toyota Motor Credit Corporation (TMCC).  It incorporated in California on
October 4, 1982, and commenced operations in May 1983 by approving a loan for
a used Toyota Corolla in Denver, Colorado.  The company continues to provide
retail and wholesale financing, retail leasing and certain other financial
services to authorized Toyota and Lexus dealers and Toyota Industrial
Equipment dealers, Toyota Marine Sports dealers, affiliates and their
customers in the United States (excluding Hawaii).
    TMCC is part of the worldwide financial services operations for Toyota
Financial Services Corporation (TFSC), which is a wholly owned subsidiary of
Toyota Motor Corporation (TMC) in Japan.  Currently, there are 32 branch
offices in various locations in the United States, one branch office in Puerto
Rico, three regional offices and a centralized customer service center in
Cedar Rapids, Iowa.
    Toyota Motor Insurance Services, Inc. (TMIS) was established in 1986 as a
subsidiary of TMCC.  They provide vehicle protection plans and insurance
products to authorized Toyota and Lexus dealers and Toyota Industrial dealers,
affiliates and their customers in the United States (excluding Hawaii).
Currently, there are 6 regional offices in various locations in the United
States.  All administration and customer service functions are handled by the
Toyota Financial Services Center in Cedar Rapids, Iowa.
    The Toyota Financial Services (TFS) brand identity was launched in
December 1999.  TFS is a service mark that acts as an umbrella for marketing
both finance and insurance products under one name.

    (Note: Figures include retail and lease volume in U.S. (including Puerto
Rico) from FY '84 through FY '01.  Total number of retail and lease contracts
is 5,411,389 for the time period.)

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