Regarding Position and Policy on Reduction of the Investment Units

[Translation]

1. Position on Reduction of Investment Unit (Position to shift to the level of less than 500,000 yen)
   Toyota Industries Corporation recognizes that the reduction of investment units is one of the effective measures to increase the liquidity of its stock and to encourage the participation of the wide range of investors.
   
   
2. Policy on Reduction of Investment Unit (Policy to shift to the level of less than 500,000 yen)
   The company will take an appropriate action in consideration of stock market trends, the company's share price, number of shareholders, status of stock trading, enhancement of corporate value, and other factors comprehensively as needed. At this point in time, specific measure such as stock split and its timings have not yet been determined.