TOYOTA : Notice Concerning Modification of Management Structure, Change of Representative Directors, Executives and Managing Officers

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[Translation]

April 28, 2016

Notice Concerning Modification of Management Structure, Change of Representative Directors, Executives and Managing Officers

At the meeting held on April 28, 2016, the board of directors of Toyota Industries Corporation (TICO) resolved on its modification of management structure and personnel change regarding its representative directors, executives and managing officers.

It will take effect after the resolution of the 138th Ordinary General Meeting of Shareholders and the Board of Directors meeting held on June 10, 2016.

1. Modification of Management Structure

   TICO will modify its management structure designed to strengthen corporate governance. Specifically, it will divide and clarify the role of "Director", who is responsible for the management (decision-making and supervision), and "Managing Officer", who is responsible for the execution of business operations. It follows that the "Senior Managing Director" will be eliminated.

   *1 "Managing Officer" is composed by both "Senior Managing Officer (new)" and "Managing Officer (new)".

   *2 A formal decision will be made pending approval by the Ordinary General Meeting of Shareholders, held on June 10, 2016.

2. Change of Executives and Managing Officers

3. Change of Representative Director

4. New Representative Director

   Name	New title	Current title
   Masaharu Suzuki	Executive Vice President, Member of the Board and Representative Director	Senior Managing Director

   Career Summary of the new Representative Director

   Name	Masaharu Suzuki
   Date of birth	February 15, 1954 (age: 62)
   Career summary	April 1976	Joined the Company
   	June 2008	Managing Officer of the Company
   	June 2011	Senior Managing Director of the Company
   Shareholding	54,460

5. Change of Executives

6. Retiring Directors

   Name	Current title
   Hirotaka Morishita	Executive Vice President, Member of the Board and Representative Director
   Norio Sasaki	Senior Managing Director
   Toshifumi Ogawa	Senior Managing Director
   Toshifumi Onishi *1	Senior Managing Director
   Takaki Ogawa	Director
   Keiichi Fukunaga *1	Director

   *1 "Senior Managing Officer (new)" (appointed, as indicated below)

7. Director with Title Change

   Name	New title	Current title
   Takuo Sasaki	Senior Managing Officer (new), Member of the Board	Senior Managing Director

8. Change of Audit and Supervisory Board Members

9. New Audit and Supervisory Board Member

   Name	Current title
   Toshifumi Ogawa	Senior Managing Director

10. Retiring Audit and Supervisory Board Member

    Name	Current title
    Kakuo Ishikawa	Audit and Supervisory Board Member

11. New Outside Audit and Supervisory Board Member

    Name	Current position
    Akihisa Mizuno	Chairman of the Board of Directors, Chubu Electric Power Co.,Inc.

12. Retiring Outside Audit and Supervisory Board Member

    Name	Current title
    Toshio Mita	Outside Audit and Supervisory Board Member

13. Change of Managing Officers

14. Senior Managing Officers (new)

    Name	New title	Current title
    Takuo Sasaki	Senior Managing Officer (new), Member of the Board	Senior Managing Director
    Toshifumi Onishi	Senior Managing Officer (new)	Senior Managing Director
    Kan Otsuka	Senior Managing Officer (new), Member of the Board	Director
    Taku Yamamoto	Senior Managing Officer (new), Member of the Board	Director
    Keiichi Fukunaga	Senior Managing Officer (new)	Director

15. Managing Officers (new)

    Name	New title	Current title
    Yukihisa Tsuchimoto	Managing Officer (new)	Senior Managing Officer
    Takashi Ito	Managing Officer (new)	Senior Managing Officer
    Toshiya Yamagishi	Managing Officer (new)	Managing Officer
    Junichi Harada	Managing Officer (new)	Managing Officer
    Mikihiko Okamoto	Managing Officer (new)	Managing Officer
    Yojiro Mizuno	Managing Officer (new)	Managing Officer
    Masahiro Kawaguchi	Managing Officer (new)	Managing Officer
    Yuji Ishizaki	Managing Officer (new)	Managing Officer
    Keizo Hara	Managing Officer (new)	Managing Officer
    Kiyotsugu Kurimoto	Managing Officer (new)	Managing Officer
    Masafumi Kunito	Managing Officer (new)	Managing Officer
    Toshihiko Shimizu	Managing Officer (new)	Managing Officer
    Koichi Ito	Managing Officer (new)	Managing Officer
    Yasushi Kawai	Managing Officer (new)	Managing Officer
    Hiroaki Kayukawa	Managing Officer (new)	Managing Officer
    Toru Inagawa	Managing Officer (new)	Managing Officer
    Hiroshi Matsumoto	Managing Officer (new)	Managing Officer
    Kota Otoshi	Managing Officer (new)	Managing Officer
    Norio Wakabayashi	Managing Officer (new)	Managing Officer
    Kazunari Masuoka	Managing Officer (new)	Managing Officer

    (continued)

    Name	New title	Current title
    Kazunari Kumakura *2	Managing Officer (new)	General Manager Purchasing Dept., Engine Div.
    Hiroaki Matsuda *2	Managing Officer (new)	General Manager Manufacturing Dept. No.2, Compressor Div.
    Hisashi Ichijo *2	Managing Officer (new)	General Manager Engineering Dept. No.2, R&D Headquarters

    *2 newly appointed member

16. Retiring Managing Officers

Name	Current title
Hiroaki Asai	Senior Managing Officer
Kazuyuki Yamaguchi	Managing Officer

(For your reference) New Management Structure

As a result of the foregoing changes, the Company's new management structure as of June 10, 2016 will be as follows.

1) Board of Directors

Name	Title
*3 Tetsuro Toyoda	Chairman of the Board
*3 Akira Onishi	President, Member of the Board
*3 Kazue Sasaki	Executive Vice President, Member of the Board
*3 Shinya Furukawa	Executive Vice President, Member of the Board
*3*4 Masaharu Suzuki	Executive Vice President, Member of the Board
Takuo Sasaki	Senior Managing Officer (new), Member of the Board
Kan Otsuka	Senior Managing Officer (new), Member of the Board
Taku Yamamoto	Senior Managing Officer (new), Member of the Board
Shuzo Sumi	Outside, Independent Director
Kenichiro Yamanishi	Outside, Independent Director
Mitsuhisa Kato	Outside Director