Toyota Announces New Supplier Diversity Awards

Johnson Controls, Inc. and Continental Teves North America Recognized for Outstanding Efforts

COVINGTON, Ky., March 2 -- Toyota Motor Manufacturing North America, Inc. (TMMNA) today announced the recipients for the company's first-ever Supplier Diversity Awards. Johnson Controls, Inc. of Milwaukee, Wisconsin, a supplier of seats, headliners and more to Toyota, won the Superior Award. Continental Teves North America of Auburn Hills, Michigan, a supplier of brake and chassis components to Toyota, won the Excellent Award.

The awards were given at Toyota's Annual Business Meeting and Awards Ceremony, which brings together the automaker's approximately 500 North American suppliers to share expectations for the coming business year and to recognize outstanding performance among suppliers.

TMMNA also acknowledged the importance of Tier I suppliers establishing joint ventures to help the development of minority business enterprises. These companies are being created as a direct response to TMMNA's increased emphasis on Supplier Diversity. Two suppliers received this special recognition for their initiative in creating joint ventures.

"These new awards represent the ever-growing importance of business diversity for Toyota and our suppliers," said Osamu "Simon" Nagata, vice president of purchasing for TMMNA, located in Erlanger, Kentucky. "TMMNA has set some very aggressive targets for minority spending with our suppliers, and these award winners have been exemplary in helping us meet these goals."

In 2002, TMMNA announced a target of 7.5% annual minority Tier I purchases by 2005. When TMMNA's Tier 2 requirements of its suppliers are added to this goal, minority business spending will exceed $1 billion by 2005. Last November, the company announced 20% minority spending targets for the construction of their new plant in San Antonio, Toyota Motor Manufacturing, Texas, Inc. (TMMTX).

Last year, Johnson Controls, Inc. announced that the company achieved its goal of spending $1 billion a year with diverse suppliers a year sooner than expected. The company has been honored as "Corporation of the Year" five times by the Michigan Minority Business Development Council.

Continental Teves North America's supplier diversity program, which began five years ago, has increased minority expenditures by more than 4200% and tripled the number of minority suppliers since its inception.

Toyota currently has four vehicle manufacturing plants and six engine/component plants in North America. In addition, three new plants are under construction -- in Baja California, Mexico, San Antonio, Texas and Jackson, Tennessee -- and several of Toyota's North American engine and component plants are expanding.

By 2006, Toyota will have the capacity to build 1.66 million cars and trucks a year and 1.29 million engines in North America. Toyota currently employs over 36,000 people throughout North America. The company's direct investment is over $16.7 billion with annual parts, materials, goods and services purchased from North American suppliers totaling over $20 billion.

Toyota's North American-produced vehicles include the Avalon, Camry, Corolla, Matrix, Sienna, Solara, Sequoia, Tacoma, Tundra, and the Lexus RX 330.

Visit Toyota's online newsroom: pressroom.toyota.com or our web site: http://www.toyota.com/about/diversity/