STATEMENT OF COMMITMENT

Toyota Motor Philippines Corporation (TMP) and its dealer network recognize the important role of the Philippine Competition Commission (PCC) in fostering fair competition that benefits both Filipino consumer and the national economy.

Since its establishment in 1988, TMP has consistently sought to conduct its business with integrity, transparency, and accountability. While the company maintains that its terms and financing options for the sale of passenger vehicles, as well as its discount and rebate policies, are lawful, it acknowledges without admission of any liability, that certain aspects of these practices could be perceived as raising concerns under the competition law. Recognizing the importance of continuous improvement of its business practices, and in line with its dealers remain committed to strengthening its compliance framework, and ensuring that its conduct remains aligned with the principles of fair and open competition.

TMP and its dealers affirm that compliance with the Philippine Competition Act (PCA), its Implementing Rules and Regulations (IRR), and other applicable laws and regulations is a core component of its corporate governance framework. In line with this, TMP and its dealers underscore its commitment to ethical business practices, consumer welfare, and the prevention of anti-competitive conduct, consistent with the objectives of competition law.