Toyota Motor Corporation September 6, 2002 Fujiofujio Cho Cho Presidentpresident

Toyota Motor Corporation September 6, 2002 FujioFujio Cho Cho PresidentPresident

1 Toyota’sToyota’s PerformancePerformance

2 Toyota’s PerformanceI 10 Years of Dynamic Growth Operating Income

Operating income x5x5

* Assigning fiscal 1993 as factor of 100

FY1993 FY1996 FY1999 FY2002

3 Toyota’s PerformanceI 10 Years of Stability

(Trillions of yen) (Yen/dollar)

Cumulative net income

Exchange rate (yen/dollar)

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 * Cumulative net income reflects consolidated figures calculated in accordance with Japan GAAP.

4 Toyota’s PerformanceI Improved Management Efficiency Operating Income Net Sales, Total Assets, and Number of Employees

Operating income x5x5 Net sales Total assets Number of employees

* Assigning fiscal 1993 as factor of 100

FY1993 FY1996 FY1999 FY2002

5 Toyota’s PerformanceI 2001 Global Sales Sales in Approximately 160 Countries and Regions Around the World

Global Unit Sales in 2001 Proportion of 2001 Unit Sales by Region

* Including Daihatsu and Hino (Millions(Millions ofof units)units) 5.9

Overseas

3.6 Japan North Domestic Global Share （（33%）） America （（36%）） 10% Europe, Asia 2.3 and Others （（31%））

6 Toyota’s PerformanceI 2001 Domestic Sales

Japan’s Market Leader (more than 40% market share) Basis of Global Competitiveness : Quality, Cost

2001 Market Share (excluding minivehiclesminivehicles)) 43.3％％％ 41.7％％ 42.2％ 42.4％％

39.4％％ Others （（25.8%）） 38.9％％ 25.8% 38.7％％ 37.3％％ 38.2％％ Toyota 36.5％％ 36.5 （（42.2%）） Toyota’s market share Honda (excluding(excluding minivehicles)minivehicles) （（14.0%）） Toyota’s market share Nissan (including(including minivehicles)minivehicles) （（18.0%））

1998 1999 2000 2001 2002/1-7 * Figures for 1998 and thereafter include Daihatsu; Figures for 2001 and thereafter include Hino

7 Toyota’s PerformanceI Our Vision for the Future

2010 Global Vision 15% Global Market Share

15%

10%

2001 Early in the 2010s

8 BrandBrand StrategyStrategy

ImprovingImproving BrandBrand ValueValue

9 ImprovingII Brand Value North American Strategy : Growth of Product Line-up Youth-oriented vehicles Crossover vehicles Sales Target 2 million units (2003-2004 Planned) (2003-2004 Planned) Large SUVs bbX

Luxury vehicles Highlander Small passenger vehicles Tundra SCION

Lexus LS430 Lexus RX300 Camry

Sequoia Lexus SC430 RankedRanked firstfirst inin 99 ofof 1616 categoriescategories Corolla inin thethe 20022002 IQSIQS survey survey byby J.D.J.D. PowerPower && AssociatesAssociates

10 ImprovingII Brand Value European Strategy : Growth of Product Line-up

NewNew AvensisAvensis Sales Target 800 Sales Target 800 (beginning(beginning ofof 2003)2003) thousandthousand unitsunits +αα (2005(2005 Planned)Planned)

Yaris: Unit sales 2001: 210,000 vehicles First half of 2002: 120,000 vehicles First half of 2002: 120,000 vehicles Corolla

DieselDiesel EnginesEngines

D-CATD-CAT Sales to Other Companies (2003(2003 launch)launch) (from 2003)

11 ImprovingII Brand Value Global Cars

Countries and regions in 2001 production which vehicle is volume marketed (in thousands) (approximate numbers) 2002 Corolla 140 871 1 million Camry 100 527 units Yaris 140 373 (plan) Hilux 140 302

12 ImprovingII Brand Value Motorsports

F1 Competed in races with cars developed completely in-house (from 2002)

CART Current leader in manufacturer’s championship

13 StrategyStrategy forfor OptimalOptimal GlobalGlobal ProductionProduction

Producing Where Demand Exists

14 Producing WhereIII Demand Exists Optimal Global Production Production and Marketing Where Demand Exists (24 overseas countries and regions, 40 companies worldwide)

China: North America: 6 companies Europe: 8 companies 4 companies

Asia: 11 companies Middle East: (outside Japan) 4 companies

Africa: Central and 2 companies South America: 4 companies Oceania: 1 company

15 Producing WhereIII Demand Exists Expansion of Local Production in North America Expansion of Local Production Stable Growth

Production volume (Thousands of units) (yen/dollar)

Exchange rate (yen/dollar)

20032003 productionproduction capacitycapacity 265 FromFrom 1.251.25 millionmillion unitsunits toto 1.451.45 millionmillion unitsunits 205 (First(First halfhalf ofof 2002)2002) 175 164 149 164

65 Operating Income in North America (billions(billions ofof yen)yen) 1990 1992 1994 1996 1998 2000 2002

16 Producing WhereIII Demand Exists Expansion of Local Production in Europe (1) Expansion of Local Production and Procurement Cost Reductions

U.K.U.K. (TMUK):(TMUK): Common-rail diesel assembly (2003) FranceFrance (TMMF):(TMMF): Increased capacity (150,000 vehicles 180,000 vehicles, 2003) Common rail diesel assembly (2003) PolandPoland (TMMP):(TMMP): Manual transmission production commenced (April 2002) TurkeyTurkey (TMMT):(TMMT): Corolla production, exports to Europe (February 2002)

Production volume (Thousands of units) Proportion (%)

Local production volume 20032003 productionproduction capacitycapacity

Proportion of local production* 500,000500,000 unitsunits (including(including Turkey)Turkey)

(First(First halfhalf ofof 2002)2002)

1996 1998 2000 2001 2002 * Proportion of local production = Local production volume / Local unit sales

17 Producing WhereIII Demand Exists Expansion of Local Production in Europe (2) Planned to Introduce Small Entry-Level Passenger Vehicle

JointJoint ProductionProduction ofof NewNew ConceptConcept VehicleVehicle withwith PSAPSA Peugeot-CitroënPeugeot-Citroën

Establishment of plant in Czech Rep. (TPCA) (Production scheduled to begin in 2005) 100,000 Toyota branded vehicles (planned)

Expansion of Polish plant (TMMP) in 2004 Supply engines and transmissions to TPCA

18 Producing WhereIII Demand Exists Expansion of Production Network in Asia

Japan Pakistan China Japan

Taiwan Thailand Vietnam

IndiaIndia

Malaysia

Philippines Singapore

IndonesiaIndonesia

19 Producing WhereIII Demand Exists Major Leap Forward in Toyota’s China Operations

Operations in China at present Tianjin: Production of compact passenger vehicles (October 2002) Sichuan: Production of the Coaster (December 2000) + Expansion by cooperative relationship with FAW Medium/large-class luxury sedans: Production of 50,000 units / year (2005) SUV: Production of 10,000 to 20,000 units / year (2003) Minivehicles:* Production of 100,000 units / year (2003)

*Sold*Sold underunder thethe DaihatsuDaihatsu brandbrand

By around 2010 Total production and sales of 300,000 to 400,000 units / year

20 TechnologyTechnology StrategyStrategy

Stricter Regulations as a Business Opportunity

21 Stricter Regulations IVas a Business Opportunity Next-Generation Technological Competition as a Business Opportunity The Oil Crisis and Emission Controls Triggered Growth * United States: LEV, ZEV EmissionEmission ControlsControls (NOx)(NOx) andand FuelFuel 3838 timestimes * Europe: 140g/km Consumption Regulations (CO2) Japan: Fuel economy guideline by 2010 Consumption Regulations (CO2)

5.05.0 millionmillion unitsunits Toyota’s Opportunity 4.04.0 millionmillion unitsunits HybridHybrid EmissionEmission ControlsControls FCHVFCHV NewNew Oil Crisis 3.03.0 millionmillion unitsunits Oil Crisis DieselDiesel CatalystCatalyst (D-CAT)(D-CAT) Toyota Group production volume (domestic and overseas) Global production volume 3.33.3 timestimes **

* Assuming a production 19601970 1980 1990 2000 volume of 1 car in 1960

22 Stricter Regulations IVas a Business Opportunity Increased Sales of Hybrid Vehicles

300,000 units / year by UnitsUnits 100,000100,000 around 2005 TotalTotal 100,000100,000 vehiclesvehicles

Crown Mild Hybrid

50,00050,000 Estima Hybrid (4WD)

GasGas turbineturbine HVHV (1969)(1969) Prius YearYear20012001

23 Stricter Regulations IVas a Business Opportunity Performance of Toyota Prius

5 ）））））））） 2000 Prius Sec Sec （（（（（（（（ 80-110 km/h 80-110 80-110 km/h 80-110 1.5L A/T Mid-range acceleration Mid-range acceleration

10 20 30 Fuel Consumption (km/l)* *Measured by Japanese standard

24 Stricter Regulations IVas a Business Opportunity Toyota FCHV-4 (1) Independent In-house Development of Total System Including Fuel Cell Stacks

Maximum speed 150km/h

Cruising range 250km

Fuel cell output 90kw

Fuel Pure hydrogen

25 Stricter Regulations IVas a Business Opportunity Toyota FCHV-4 (2) Independent In-house Development of Total System Including Fuel Cell Stacks

Secondary Air battery compressor High-pressure Motor Motor Power control hydrogen Power control unit control Power control unit unit unit storage tank TOYOTA Air compressor FC Stack

Motor TOYOTA FC Stack

26 Stricter Regulations IVas a Business Opportunity FCHV-4 Road Tests Limited Marketing around the End of 2002 JapanJapan U.S.A.U.S.A.

27 Stricter Regulations IVas a Business Opportunity Why is it Called the FCHV?

Construction of Toyota’s fuel cell fuel cell vehicle hybrid vehicle (FCHV)

Air Secondary Air compressor battery compressor High-pressure High-pressure ＰｏｗｅｒＰｏｗｅｒ Motor hydrogen Motor hydrogen control unit storage tank storage tank TOYOTA Fuel cell stack TOYOTA FC Stack

28 Stricter Regulations IVas a Business Opportunity The Overall Fuel Efficiency of FCHVs Overall Efficiency “Well-to-Wheel” (%)

0 10 20 30 40

Gasoline engine 14%

Gasoline HV 26%

High-pressure hydrogen FCV 22% Non-hybrid controlled

FCHV 29% Hybrid controlled Further improvement in efficiency

FCHV 42%

Calculations by Toyota

29 Stricter Regulations IVas a Business Opportunity Toyota’s Environmental Technology Development

TheThe UltimateUltimate Eco-CarEco-Car

THSTHS-M-M (Crown)(Crown) THS-C (Estima)(Estima) THS-C FCHVFCHV THSTHS (Prius)(Prius) Hybrid Technology LeanLean BurnBurn CNGCNG DieselDiesel DIDI VVTVVT-i-i DD-4-4 EVEV

Alternative Diesel Gasoline EV & FCV energy engine engine

30 Stricter Regulations IVas a Business Opportunity Strategy to Encourage Hybrid Popularization and Reduce Costs

Toyota-Nissan Tie Up z Agreement of ten years or longer z Toyota to supply hybrid components (transaxle, battery, inverter) z Nissan to install hybrid system in vehicles for U.S. in 2006 z 100,000 units expected within five year of launch z Ongoing discussions of joint development of components

31 Stricter Regulations IVas a Business Opportunity Global New Body Line

InnovativeInnovative WeldingWelding ProcessesProcesses

HighlyHighly flexibleflexible (1(1 lineline forfor 88 models,models, small-lotsmall-lot toto massmass production)production)

InvestmentInvestment reductionreduction NewNew facilities:facilities: 50%50% lessless ModelModel changes:changes: 70%70% lessless (compared(compared withwith formerformer line)line)

32 Stricter Regulations IVas a Business Opportunity V-Comm (1) V-Comm (virtual trial manufacturing) Accelerates Production Preparation, Reduces Production Costs

33 Stricter Regulations IVas a Business Opportunity V-Comm (2) Global Expansion of TPS * via Digital Technology * TPS: Toyota Production System

Exchange of images, sound

French Plant

Exchange of signal Toyota Polish Plant Polish Plant Headquarters (Transmission Plant)

34 InnovationInnovation intointo thethe FutureFuture

35 Innovation Vinto the Future Motorization on a Global Scale

Expansion of U.S. market Rapid expansion in Eastern/Central Europe, Increase in Russia population True growth in the Asian market

36 Innovation Vinto the Future Recycling and a “Zero-Waste” Society

DevelopmentDevelopment ofof NewNew MaterialsMaterials andand ProcessingProcessing TechnologyTechnology

DevelopmentDevelopment ofof environmentally-friendlyenvironmentally-friendly biodegradablebiodegradable plasticplastic fromfrom biomassbiomass (manufacture(manufacture ofof automotiveautomotive partsparts fromfrom high-yieldhigh-yield sweetsweet potatoes)potatoes)

FinalFinal technicaltechnical evaluationevaluation andand commercializationcommercialization slatedslated forfor immediateimmediate futurefuture

(Indonesia)(Indonesia)

Plant-Based Biodegradable Plastic (Bioplastic)

37 Innovation Vinto the Future Expansion of ITS Ubiquitous-Information Society

Car Multimedia G-BOOK (Automobile information network service)

AutomobilesAutomobiles areare equippedequipped withwith informationinformation terminalsterminals andand transmissiontransmission modulesmodules toto enableenable real-timereal-time exchangeexchange ofof informationinformation PlanPlan toto launchlaunch inin OctoberOctober

WiLLWiLL VC VC ConceptConcept

38 Innovation Vinto the Future Moving toward a Mature Global Society (Thousands of Personnel Growth at Overseas Subsidiaries persons)

Establishment of the Toyota Institute

Training and opportunities for overseas personnel

FY1993 FY1994 FY1995 FY1996 FY1997 FY1998 FY1999 FY2000 FY2001 FY2002

109 (16%) 246 (27%) Number of personnel on a consolidated basis( ): Percentage of personnel at overseas subsidiaries

39 Toyota Motor Corporation September 6, 2002 Toyota Motor Corporation September 6, 2002 RyujiRyuji ArakiAraki ExecutiveExecutive ViceVice PresidentPresident

1 Overview of Fiscal 2002 Consolidated Business Performance Operating Income Net Income before taxes

(Billions of yen) Net Income （Trillions of yen) 15.1 14.3 13.1 13.4 1,107 1,123 1,093 Net sales 870 Net sales Income Income 1,113 790 972 864

674 615 556 471

Net Sales Net Sales Net Sales Net Sales

（（US-GAAP））（（Japan-GAAP））（（Japan-GAAP））（（US-GAAP）） FY2001 FY2002

2 Overview ofof 1Q1Q ofof FiscalFiscal 20032003 Consolidated Business Performance

Operating Income (Trillions of yen) Net Income before taxes

(Billions of yen) Net Income This includes ¥187 billion gains due to return of 4.0 substituted portion of 3.3 employee pension fund. 613 Net sales Net sales Income Income 394

297 352 291

162

Net Sales Net Sales Apr.-Jun. 2001 Apr.-Jun. 2002 （（Japan-GAAP））（（Japan-GAAP）） Note: Based on standard for interim financial statement

3 Factor of Changes in Operating Income: 1Q of Fiscal 2003

Increase in operating income (¥103.2 billion)

(Billions of yen) R&D expenses, 394.5 Depreciation, Cost reduction etc. (+70.0) (-56.8) 291.3 324.5 After elimination Forex rate of effect of foreign change exchange Marketing (+70.0) activities Change from (+20.0) previous year (+33.2)

Apr.-Jun. 2001 Apr.-Jun. 2002 （（Japan-GAAP））（（Japan-GAAP）） Note: Based on standard for interim financial statement

4 Long-Term Financial Targets Operating ROE 9.8% (％) incomeincome ratioratio

Unit sales on income ratio consolidated basis Operating 9% 7.4% Target of operating 6.1% 6.5% 6% income ratio

(Thousands of units) 6,110 (Projection) 5,785 5,527 5,182 Excluding effect due to 4,695 12.7% returnreturn ofof substitutedsubstituted portionportion of employee pension fund

(％) ROE 8.5% 6.8% 5.8% 6.3% 10% (Target of ROE)

FY1999 FY2000 FY2001 FY2002 FY2003/1Q (Japan GAAP)

5 Continuing Efforts to Reduce Costs Eliminate Waste

(Billions of yen) 260

Results of cost reduction efforts

190

150

130 120 110

70 70

FY1996 FY1997 FY1998 FY1999 FY2000 FY2001 FY2002 FY2003

6 CCC21 Initiative * Using Global Benchmarking, Set Our Targets for the World’s Best Cost and Performance for Components and Parts

CCC21 (About 170 items)

Costs Costs Camry

Corolla NearlyNearly completedcompleted identifyingidentifying meansmeans toto Starlet achieveachieve thethe targetstargets New Camry (March(March 2002)2002) New Corolla Yaris(Vitz)

Performance ** ConstructionConstruction ofof CostCost CompetitivenessCompetitiveness 2121

7 Platform Integration

FR 11 platforms Reduce to 6 platforms now in use

(Production(Production platformsplatforms forfor passengerpassenger vehicles)vehicles)

8 Financial Business

Global Sales Finance Network

Existing bases 22 Future expansion to bases Planned 2002 bases 2 in 30 countries

(Billions of yen)

Operating income

FY1998 FY1999 FY2000 FY2001 FY2002 Mid-term Target

9 Cash Flow Management Long-term Stable Growth Efficient Use of Capital & Increasing Shareholders’ Value

Image of Fiscal 2002 Consolidated Cash Flows

(Billions of yen)

Depreciation Capital 699 investmentinvestment 940

Net income 615 374

R&D 592

*Japan GAAP

10 Aiming at the Future Growth Capital Investment and R&D (Billions of yen) 980 (projection) 973 940 871 860

650 (projection) 592

487 453 479

203 150

FY1999 FY2000 FY2001 FY2002 FY2003/1Q

Capital investment R&D expenses

11 Maintaining Sufficient Level of Liquidity

(Billions of yen) (%) 43.5 41.9 41.3 40.6

36.8 1,363 1,168 1,159 1,109 1,210

FY1998 FY1999 FY2000 FY2001 FY2002

Shareholders’ equity ratio Net funds (consolidated) (consolidated, excluding financial business)

12 Asset Allocation

17.9 19.8 (Trillions(Trillions ofof yen)yen) Asia and Others 1.0 Europe 1.2

Operating Assets North America 12.7 6.5 10.3 Asia and Others 0.6 Europe 0.5 Operating Assets North America 3.4

Japan Japan 9.2 5.8

Non-operating Assets 2.4 Non-operating Assets 1.9

End of FY1997 End of FY2002

13 Long-Term Stable Growth in Share Value Total Market Value of Toyota Shares in Tokyo Stock Exchange Market Cap Rose from 1.4% in 1991 to 4.4% in 2002

(4.4%)

Market value of Toyota Shares Toyota shares %= Aggregate market value of TSE Tokyo Stock Exchange

(1.4%)

Changes in aggregate market value

FY1991 FY1992 FY1993 FY1994 FY1995 FY1996 FY1997 FY1998 FY1999 FY2000 FY2001 FY2002

*Calculated at the end of each fiscal year, assigning fiscal 1991 as factor of 100

14 Shareholder’s Return Dividends Payout: Increasing Steadily (¥14.5 per share to ¥28 per share) Accumulative Value of Shares Canceled: ¥922 Billion

(Billions of yen) 120% 400 Annual dividends

Shares canceled 100% 300 Return ratio* Return ratio* 80%

200 60%

40% 100 20% 14.5 19 22 23 23 24 25 ¥28/share 0 0%

FY1995 FY1996 FY1997 FY1998 FY1999 FY2000 FY2001 FY2002 *(Annual*(Annual dividendsdividends ++ SharesShares canceled)canceled) // NetNet incomeincome (On(On non-consolidated,non-consolidated, JapanJapan GAAPGAAP basis)basis) Note: 1. Figures for FY95 only reflect 9-months result to reflect the change in fiscal year-end. Note: 2. Amount of shares canceled decreased inFY2000 due to various legal constraints relating to Toyota’s listing on NYSE and LSE. Note: 3. Figure of shares canceled in FY2002 includes ¥143 billion of shares repurchased during FY2002, and canceled during FY2003.

15 Share Repurchase

Authorized Amount of Repurchase

Up to ¥600 billion Up to 170 million shares

(Between Annual General Shareholders’ Meetings 2002 and 2003)

16 Update on Current Toyota’s Share Ownership

End of Sept. 1999 End of Mar. 2002

Held in trust accounts 11% 22%

Banks 34% 44% down 19% 55％ 62% Financial institutions 14% Life and non-life 17% insurance companies

19% Corporations, etc. 21%

16% Foreign investors 10% 9% Individual investors 7% 1% treasury stock

17 Toyota’s Accounting Policy

1) Disclosure for a better transparency

Disclose financial statements in accordance with both Japan & US GAAP

2) Conservative accounting

Implementation of rigorous standards (for valuation of marketable securities and inventories)

No impaired assets remain on balance sheet

18 Changing in Japan’s Accounting Standards Adopted these changes to our accounting system in advance

Principal changes Systemic changes Implemented by Toyota 1) Interim consolidated results 00/9 - 98/9 -

2) Strengthened consolidated accounting 00/3 - 99/9 - (introduction of criteria for actual corporate control*) 3) Tax effect accounting 00/3 - 99/9 - 4) Accounting for retirement benefits 00/9 - 00/9 - 5) Accounting for financial instruments Financial instruments 00/9 - 00/9 - Cross-holding of shares, etc. 01/9 - 00/9 -

*SPE (disqualified): Application of actual control criteria (no 3% rule)

19 Financial Statements are Audited Twice

Japanese standards for financial statements: ChuoAoyama > Rules for calculating financial statements set forth in the Commercial Code > Rules for preparing financial statements set forth in the Securities and Exchange Act U.S. standards for financial statements : PricewaterhouseCoopers

20 Corporate Governance under the Commercial Code of Japan

Shareholders’ Meeting

Approval of directors’ Election Election Election remuneration, bonuses, pensions, stock options

Board of Board of Directors Accounting Auditors Corporate Auditors

Accounting Audit Auditors Directors Accounting Audit

Representative Outside Auditors Directors Election Audit Strengthen Approve transactions Monitoring witch may involve authority for conflicts of interest. corporate Execution auditors

21 Basic Statement of Toyota Style Governance Toyota Way Shareholders FocusFocus onon ShareholdersShareholders Long-term Stable Growth

Community Employees Management Efficient Suppliers HarmoniousHarmonious Operation GrowthGrowth Creditors Dealers

Customers CSCS No.1No.1

22 Prompt Decision Making and Intensive Risk Management Higher Transparency Reviewed by “Many People”

NYSE, LSE Listing Shareholders’ Corporate (SEC Disclosure) Meeting Ethics Committee International Advisory Board Decision-making Social Contribution EVP and above Labor- Committee Management Monitor Monitor Council/Forum Execution Senior managing Stock Option director and below Internal Audit director and below Committee

Toyota Way Internal insider-trading regulations: 24-hour rules, Rules for trading Toyota shares

23 Cautionary Statement with Respect to Forward-Looking Statements

This presentation contains forward-looking statements that reflect Toyota’s plans and expectations. These forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Toyota’s actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. These factors include: (i) changes in economic conditions affecting, and the competitive environment in, the automotive markets in Japan, North America, Europe and other markets in which Toyota operates; (ii) fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the U.S. dollar, the euro and the British pound; (iii) Toyota’s ability to realize production efficiencies and to implement capital expenditures at the levels and times planned by management; (iv) changes in the laws, regulations and government policies affecting Toyota’s automotive operations, particularly laws, regulations and policies relating to environmental protection, vehicle emissions, vehicle fuel economy and vehicle safety, as well as changes in laws, regulations and government policies affecting Toyota’s other operations, including the outcome of future litigation and other legal proceedings; (v) political instability in the markets in which Toyota operates; (vi) Toyota’s ability to timely develop and achieve market acceptance of new products; and (vii) fuel shortages or interruptions in transportation systems, labor strikes, work stoppages or other interruptions to, or difficulties in, the employment of labor in the major markets where Toyota purchases materials, components and supplies for the production of its products or where its products are produced, distributed or sold. A discussion of these and other factors which may affect Toyota’s actual results, performance, achievements or financial position is contained in the “Operating and Financial Review and Prospects” and “Information on the Company” sections and elsewhere in Toyota’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Toyota Motor Corporation September 6, 2002