TORRANCE, Calif. — This week, Toyota Financial Services issued
a new Diversity & Inclusion Bond — what officials said is a key component
of the company's comprehensive funding program. 

The company recapped that TFS issued its first Diversity
& Inclusion Bond in January to positive response from investors, banks, and
other issuers.  This second issuance
builds off the program's success and is firmly in line with TFS' corporate
initiatives, supplementing its strong focus on diversity, both inside and
outside of the workplace.

TFS intends future similar transactions, sending a strong
message to other firms about the emphasis TFS places on diversity and
inclusion.

Officials indicated diversity and minority-owned firms were
elevated to lead underwriting roles on this syndicated transaction. TFS said it
was pleased to work with Cabrera Capital Markets, CastleOak Securities, Drexel
Hamilton, Muriel Siebert & Co., and Toussaint Capital Partners.

Citi, the transaction's stabilizing lead bank, shares a
long-standing relationship with TFS and is equally committed to diversity
initiatives.

"Citi commends Toyota for its leadership in promoting
diversity and inclusion throughout the industry, which is expanding the
experience of underwriters and the depth of investors," said Peter Aherne, dead
of North America capital markets, syndicate and new products at Citi.

"We are proud to again collaborate with Toyota to bring
diversity and inclusion bonds to the market," Aherne continued.

Love and Long, a minority and woman owned law firm, is
acting as co-issuer's counsel together with Davis Polk & Wardwell.  O'Melveny & Myers is acting as
underwriters' counsel.

TFS highlighted the Diversity & Inclusion Bond provides
numerous benefits.

It can allow TFS to capture a more diverse investor base,
increasing the depth and resiliency of its U.S. registered bond program. This
type of bond syndication also can enable diversity firms to strengthen their
relationships with clients, and gives their investors more access to TFS bonds
and the opportunity to participate in higher profile deals.

"TFS' commitment to diversity, including philanthropic
endeavors, associate training programs, and other diversity initiatives, has
led to TFS being recognized repeatedly by DiversityInc, Black Enterprise,
Hispanic Business, and the Human Rights Campaign as leaders in diversity and
inclusion," officials said.

For more information on TFS' capital markets programs, visit
www.toyotafinancial.com .  For more
information about Toyota's commitment to diversity and inclusion, visit
www.toyota.com/about/diversity. 

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