February 17, 2003

Toyota to introduce Lexus brand in Japan

Tokyo, Japan – Toyota announced it will bring the Lexus automobile brand to Japan and reorganize their Japanese-market Toyota-brand sales channels into four channels from the current five.

The first Japanese-market Lexus automobiles will be sold in 2005. A newly created Lexus specialty dealer network will consist of about 150 showrooms nationwide. Toyota said the Lexus automobiles will be clearly differentiated from the Toyota brand.

As well, Toyota will merge the Netz and Vista sales channels to form a new Netz channel capable of addressing the desires of the growing segment of “new value” consumers, while keeping in mind the needs of current customers. Secondly, Toyota will reinforce the identities of the Toyota, Toyopet and Corolla sales channels and review their product lineups.

TMC intends to use the new strategy to maintain a non-minivehicle market share of more than 40% and to secure an even greater market share in the mid to long term.

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