Toyota
Motor is considering bidding for a prime location in Tokyo’s Roppongi district
that would serve as both the site of its new Tokyo head office and a car theme
park, company sources said.

Toyota is the first company to show an interest in purchasing the 78,000 square-metre
Roppongi site, valued at 400 billion yen ($US3.3 billion).

Toyota plans to move its headquarters from Bunkyo Ward and build a theme park
featuring car-related attractions, apartments and houses.

Both the finance ministry and the Tokyo metropolitan government have been considering
what to do with the state-owned site. General bidding from private corporations
is expected to open in May, with a Toyota executive saying that the company
is deciding whether to make a bid independently or put forward joint bids with
other companies.

Bidders must present development plans, including details of business, commerce,
culture and housing development. Construction is expected to begin in 2002.

A senior Toyota official denied the possibility of the company concentrating
all its head office business in Tokyo if the company acquired the Roppongi site.

Since 1991, Toyota has maintained two headquarters – in Tokyo and in Toyota
City where its manufacturing operations are based.