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Toyota Lists on the New York Stock Exchange

30 September 1999

Toyota Lists on the New York Stock Exchange; Shares Also Listed on the London Stock Exchange To Further Globalization

    NEW YORK, Sept. 29 -- Toyota Motor Corporation (TMC)
announced today, the start of trading of its shares on the New
York Stock Exchange.  The world's third largest automotive manufacturer's
shares will trade under the symbol, "TM," as sponsored American Depository
Receipts (ADRs.)
    "The New York Stock Exchange is a driving force in the world's capital
markets.  We will do our best to fulfill the investment community's highest
expectations," declared TMC Chairman Hiroshi Okuda, who was on hand for the
opening bell ceremony.
    "Toyota is now listed on the world's three largest exchanges, New York,
London and Tokyo.  This will allow investors around the world easier access to
Toyota," added Okuda.
    Activities outside the trading arena included an exhibit of Toyota and
Lexus vehicles, featuring Camry, America's best-selling car for two years in a
row.  Special Toyota exhibits included an overview of the company's history,
presence in the United States, path toward globalization and environmental
initiatives.
    More than $9 billion has been invested in the U.S., Toyota's largest
manufacturing base outside Japan.  Currently, Toyota operates six
manufacturing sites in the U.S., and directly employs more than 25,000 people
in design, research and development, manufacturing, sales and service
operations.  There are an additional 89,000 people at Toyota, Lexus and TIE
dealers, and 50,000 people at Toyota suppliers.
    In London, TMC Executive Vice President Kosuke Yamamoto was present for
Toyota's listing on the London Stock Exchange (LSE.)  Yamamoto stressed that
Toyota was more than ready to accept the responsibilities of listing on the
LSE and would "grow in ways that serve the larger interests of people
everywhere."
    In line  with its listings on the NYSE and LSE, Toyota has adopted
accounting practices that provide investors with more transparency about its
finances.