For immediate release
                                                              February 6, 2007

               Toyota Announces Third Quarter Financial Results
       Net Revenues, Operating Income and Net Income Reach New Records
                            for the third quarter
 (All consolidated financial information has been prepared in accordance with
  accounting principles generally accepted in the United States of America)


Tokyo--TOYOTA  MOTOR CORPORATION (TMC) today announced operating results for the
third quarter ended December 31, 2006.

On a consolidated  basis, net revenues for the period totaled 6.15 trillion yen,
an increase  of 15.2  percent  compared to the same period last year.  Operating
income  increased  19.2 percent to 574.7 billion yen, while income before income
taxes,  minority  interest and equity in earnings of  affiliated  companies  was
615.9 billion yen. Net income increased 7.3 percent to 426.7 billion yen.

Positive contributions to operating income totaled 170.0 billion yen, consisting
of 120.0 billion yen from marketing  efforts,  30.0 billion yen from the effects
of changes in foreign  exchange  rates and 20.0 billion yen from cost  reduction
efforts. Negative factors totaled 77.5 billion yen, including an increase in R&D
expenses of 21.6 billion yen.

Commenting on the results, TMC Senior Managing Director Takeshi Suzuki said, "As
for the third quarter consolidated results,  Toyota posted record results in net
revenues,  operating income and net income.  We believe our company wide efforts
have contributed to these results."

Consolidated  vehicle sales for the period reached 2.155 million, an increase of
175 thousand units over the same period last year.

In Japan, vehicle sales decreased by 30 thousand over the same period last year,
to 541 thousand units. While sales of certain existing models declined, sales of
redesigned  models  such as the  Corolla  and Estima and new models  such as the
Auris and Lexus LS were favorable. Toyota's market share excluding mini-vehicles
grew by 1.3 percent  compared  with the same period last year,  to 47.5 percent.
Operating  income from Japanese  operations  increased by 102.4 billion yen over
the same period last year,  to 383.5  billion yen,  mainly due to an increase in
production volume and exports.

In North  America,  vehicle  sales  reached  764  thousand,  an  increase of 121
thousand units, due to strong sales of redesigned models such as the RAV4, Camry
and Yaris and the new  model FJ  Cruiser.  Operating  income  decreased  by 28.7
billion yen, to 99.1 billion yen. This is mainly due to temporary  expenses such
as costs associated with the start up of the Texas plant.

In Europe,  led by strong  sales of compact  models  such as the Yaris,  vehicle
sales  increased by 60 thousand,  to 306 thousand units.  Operating  income from
European  operations  increased  by 8.2 billion  yen, to 34.8  billion  yen. The
increase in  operating  income was mainly due to  increases  in both  production
volume and vehicle units sold.

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In Asia,  sales decreased by 13 thousand,  to 204 thousand units, as a result of
weakened market conditions in Indonesia and Taiwan.  Operating income from Asian
operations  decreased  by 10.5  billion yen, to 28.1 billion yen, as a result of
decreases in both production and sales volume.

In other  regions,  including  Central  and South  America,  Oceania and Africa,
vehicle sales increased to 340 thousand  units, an increase of 37 thousand,  due
to continuing  popularity of the IMV series in Central and South America and the
Camry in Oceania.  Operating  income in these regions  increased by 16.3 billion
yen, to 31.0 billion yen.

TMC estimates that the projected  consolidated vehicle sales for the fiscal year
ending March 31, 2007 will be 8.470 million units, which is unchanged from TMC's
forecast announced in November 2006. Consolidated revenues and earnings forecast
for the fiscal year also remain  unchanged,  with  consolidated  net revenues of
23.2 trillion yen,  operating income of 2.20 trillion yen and net income of 1.55
trillion yen.  Foreign  exchange rate  assumptions for the full year are now 116
yen against US dollar and 147 yen  against  Euro,  based on the actual  rates in
first three quarters.


(Please see  attached  information  for details on  financial  results.  Further
information is also available on the Internet at www.toyota.co.jp)


Cautionary Statement with Respect to Forward-Looking Statements

       This release  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  and market demand
       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,  the
       Australian  dollar  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  in the  markets  in which  Toyota
       operates that affect Toyota's automotive  operations,  particularly laws,
       regulations  and policies  relating to trade,  environmental  protection,
       vehicle  emissions,  vehicle fuel economy and vehicle safety,  as well as
       changes in laws, regulations and government policies that affect 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
       Toyota's  annual  report on Form  20-F,  which is on file with the United
       States Securities and Exchange Commission.



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