This excerpt taken from the TM 20-F filed Jun 26, 2006.
The Code of Ethics for Directors and Managing Officers
Article 1. (Purpose)
This document comprises a code of ethics (the Code) for directors and managing officers (the Officers) of Toyota Motor Corporation (the Company) that sets forth the basic rules that, in addition to those outlined in Guiding Principles at Toyota, Toyota Code of Conduct and other guidelines and internal regulations of the Company, each Officer shall comply with in the performance of their professional management duties.
Article 2. (Objective)
This Code seeks to ensure honest and ethical conduct by all Officers, as well as their compliance with applicable laws and regulations.
Article 3. (Scope of Application)
This Code shall be applicable to all Officers.
Article 4. (Disclosure of this Code of Ethics)
This Code shall be appropriately disclosed in accordance with applicable laws and regulations.
Article 5. (Honest and Ethical Conduct)
Article 6. (Ensuring Fairness and Accuracy of Financial Disclosure; Appropriate Disclosure)
Article 7. (Compliance with Laws and Regulations)
The Officers shall comply with all applicable laws, rules and regulations, including those related to the prohibition of insider trading, in each of the countries and regions in which the Company operates.
Article 8. (Reporting of Unlawful Acts and Unethical Conduct)
Article 9. (Accountability for Adherence to the Code)
Article 10. (Exemption)
An exemption from the Code shall only be granted pursuant to a resolution of the Board of Directors, and any such exemption shall be appropriately disclosed in accordance with applicable laws.
Article 11. (Amendment)
Article 1. (Effective Date)
This Code shall become effective on June 26, 2003.