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Toyota Strengthens North American Operations

21 December 1999

Toyota Strengthens North American Operations

      Increases North American Production Capacity to 1.45 Million Units
                   Activates North American Holding Company
      Names Toshiaki Taguchi President of North American Holding Company

   NEW YORK, Dec. 19 -- TOYOTA MOTOR CORPORATION (TMC) today
announced plans to significantly strengthen its North American manufacturing
and business operations by increasing the Company's North American production
capacity and activating its North American holding company, Toyota Motor North
America, Inc., (TMA).  In addition, Toshiaki Taguchi, currently senior
managing director of Overseas Operations at TMC, was named President of TMA.

    Manufacturing Expansion
    TMC plans to increase annual production in North America by 200,000 units
to approximately 1.45 million vehicles a year in the near future.  As part of
this plan, Toyota will increase production capacity at Toyota Motor
Manufacturing, Indiana, Inc. (TMMI) by roughly 150,000 units.  The TMMI
increase calls for an investment of approximately $800 million and will create
nearly 2,000 jobs.

    Toyota Motor North America
    TMA, a holding company created in 1996, has been activated to improve the
efficiency and coordination of Toyota's North American operations.  Toshiaki
Taguchi, currently senior managing director of Overseas Operations at TMC,
will assume the presidency of TMA on January 1, 2000.  Mr. Taguchi is a
35-year Toyota veteran whose past positions have focused on North American and
Latin American operations.
    Commenting on the announcements, Fujio Cho, president of TMC, said,
"Toyota has always been committed to building vehicles in the local markets
where they are sold.  This new plan of expansion in manufacturing as well as
operations shows our continued commitment to the North American market."