Toyota to Establish In-House Mobility Service Company

Aiming to provide an integrated service from corporate automobile leasing to practical and value-added services for customers

TOKYO - December 21 2017: Toyota Motor Corporation announces its decision to merge its wholly owned subsidiary Toyota Fleet Leasing Co., Ltd. (TFL) with its wholly owned second-tier subsidiary Toyota Tokyo Rental & Leasing Co., Ltd. (R Tokyo) to establish a new company, Toyota Mobility Service Co., Ltd., on April 1, 2018. In addition to aiming to strengthen the existing corporate automobile leasing and rental car businesses, Toyota intends to plan and provide new mobility services in anticipation of a mobility society.

Toyota is aware of customers' diversifying needs, which not only includes conventional vehicle ownership, but also the growing need for shared utilization, such as car sharing, in which people use things only whenever and for whatever period they would like. The company has determined that it is important not only to respond to changing needs but also to provide value-added services that uncover potential needs. Many corporations operating across Japan are based in Tokyo, where the earliest expansion of the mobility service society is expected to occur. Consequently, Toyota plans to establish the new company there in order to quickly and flexibly respond to changing uses and needs for cars in this once-in-a-century revolutionary period in the automobile industry.

The new company will work with Toyota, as well as with Toyota Group vehicle manufacturing companies including Toyota Connected Company in the connected area, Toyota Finance Corporation in finance, and Toyota Usec in the used car business, mobilizing the combined strength of each company to meet a wide range of customer needs. In the future, Toyota aims to become the leading company of a mobility society by developing and offering mobility services adapted to a connected society.

Specific initiatives of Toyota Mobility Service Co., Ltd. include:

1. Collaborating with Toyota's in-house companies and Toyota Group vehicle manufacturers, gathering the needs of corporate customers, and promoting the making of ever-better cars by providing feedback for products

2. Developing and providing new mobility services including solution services for corporate customers, connected services using in-vehicle communication equipment and car sharing, in cooperation with Toyota's Japan Fleet Business Division and a new organization, the Mobility Service Planning Division (to be established in January 2018 as part of Toyota's Japan Sales Business Group)

3. Constructing a high-quality maintenance network in cooperation with Toyota dealers so that long-range, long-running, high-performance corporate vehicles can be used safely and with peace of mind

4. Proactively collaborating and forming tie-ups with external companies with high levels of expertise and ambition that already operate in the automobile leasing and sharing fields to provide attractive services toward a future mobility society

About Toyota
Toyota Motor Corporation (TMC) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 29 countries, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries under the brands Toyota, Lexus, Daihatsu and Hino. For more information, please visit www.toyota-global.com.