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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES
<BR>SECURITIES AND EXCHANGE COMMISSION <BR>Washington, D.C. 20549  </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>FORM 8-K </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT REPORT <BR>Pursuant
to Section 13 or 15(d) of the <BR>Securities Exchange Act of 1934  </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report (Date of
earliest event reported): <BR><B>August 1, 2005</B>  </FONT></P>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>TOYOTA MOTOR CREDIT
CORPORATION </FONT></H1>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Exact name of
registrant as specified in its charter)  </FONT></P>

<BR>


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    <TD WIDTH=266 ALIGN=CENTER>
      <div align="center"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>California
        </FONT></b></div>
    </TD>
    <TD WIDTH=107 ALIGN=CENTER>
      <div align="center"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1-9961
        </FONT></b></div>
    </TD>
    <TD WIDTH=227 ALIGN=CENTER>
      <div align="center"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>95-3775816
        </FONT></b></div>
    </TD>
  </TR>
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    <TD ALIGN=CENTER width="266">&nbsp;</TD>
    <TD ALIGN=CENTER width="107">&nbsp;</TD>
    <TD ALIGN=CENTER width="227">&nbsp;</TD>
  </TR>
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    <TD ALIGN=CENTER width="266"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State
      or other jurisdiction of</FONT></TD>
    <TD ALIGN=CENTER width="107"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission
      </FONT></TD>
    <TD ALIGN=CENTER width="227"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(IRS
      Employer Identification No.) </FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=CENTER width="266"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>incorporation)
      </FONT></TD>
    <TD ALIGN=CENTER width="107"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>File
      Number) </FONT></TD>
    <TD ALIGN=CENTER width="227"></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=CENTER width="266">&nbsp;</TD>
    <TD ALIGN=CENTER width="107">&nbsp;</TD>
    <TD ALIGN=CENTER width="227">&nbsp;</TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=CENTER width="266"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>19001
      S. Western Avenue </FONT></b></TD>
    <TD ALIGN=CENTER width="107"><b></b></TD>
    <TD ALIGN=CENTER width="227"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>90501
      </FONT></b></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=CENTER width="266"><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Torrance,
      California </FONT></b></TD>
    <TD ALIGN=CENTER width="107"><b></b></TD>
  </TR>
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    <TD ALIGN=CENTER width="266"><b></b></TD>
    <TD ALIGN=CENTER width="107"><b>&nbsp;</b></TD>
    <TD ALIGN=CENTER width="227"><b></b></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=CENTER width="266"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Address
      of principal executive offices) </FONT></TD>
    <TD ALIGN=CENTER width="107">&nbsp;</TD>
    <TD ALIGN=CENTER width="227"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Zip
      Code) </FONT></TD>
  </TR>
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Registrant's telephone
number, including area code:     (310) 468-1310 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below): </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR       240.14a-12)</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications pursuant to Rule 14d-2(b) under the       Exchange Act (17 CFR
240.14d-2(b))</FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>|_|  </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pre-commencement
communications pursuant to Rule 13e-4(c) under the       Exchange Act (17 CFR
240.13e-4(c))</FONT></TD>
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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01 Entry into a
Material Definitive Agreement </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On August 1, 2005, Toyota Motor
Corporation granted stock options to various global executives including three executives
of Toyota Motor Credit Corporation (&#147;TMCC&#148;). The details of the grants to the
TMCC executives are set forth below. The form of Option Agreement is set forth as an
exhibit to this Form 8-K and is substantially the same as the Fiscal Year 2005 Form of
Option Agreement previously filed as an exhibit to TMCC&#146;s Securities and Exchange
Commission filings. </FONT></P>








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    <td COLSPAN=13>
      <div align="center"><font face="Times New Roman, Times, Serif" size=2><u>OPTION
        GRANTS </u></font></div>
    </td>
    <td width="3">&nbsp;</td>
  </TR>
  <TR VALIGN=Bottom>
    <TH COLSPAN=13>&nbsp;</TH>
    <TH width="3">&nbsp;</TH>
  </TR>
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    <td COLSPAN=13>
      <div align="center"><font face="Times New Roman, Times, Serif" size=2> Individual
        Grants </font></div>
    </td>
    <TH width="3">&nbsp;</TH>
  </TR>
  <TR VALIGN=Bottom>
    <TH COLSPAN=13>
      <hr size=1 NOSHADE width=100%>
    </TH>
    <TH width="3">&nbsp;</TH>
  </TR>
  <TR VALIGN=Bottom>
    <TH COLSPAN=13>&nbsp;</TH>
    <TH width="3">&nbsp;</TH>
  </TR>
  <TR VALIGN=Bottom>
    <TH width="121"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Name</FONT>
      <HR SIZE=1 NOSHADE WIDTH=100%>
    </TH>
    <TH width="10">&nbsp;</TH>
    <TH width="10">&nbsp;</TH>
    <TH width="108"><FONT FACE="Times New Roman, Times, Serif" SIZE=1><BR>
      Number of Securities<BR>
      Underlying Options<BR>
      Granted (1) </FONT>
      <HR SIZE=1 NOSHADE WIDTH=100%>
    </TH>
    <TH width="10">&nbsp;</TH>
    <TH width="10">&nbsp;</TH>
    <TH width="84"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>% of Total
      Options<BR>
      Granted to TMCC<BR>
      Employees (2) </FONT>
      <HR SIZE=1 NOSHADE WIDTH=100%>
    </TH>
    <TH width="10">&nbsp;</TH>
    <TH width="10">&nbsp;</TH>
    <TH width="72"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Exercise
      or Base<BR>
      Price ($/Sh) (3) </FONT>
      <HR SIZE=1 NOSHADE WIDTH=100%>
    </TH>
    <TH width="10">&nbsp;</TH>
    <TH width="10">&nbsp;</TH>
    <TH width="90"><FONT FACE="Times New Roman, Times, Serif" SIZE=1>Expiration<BR>
      Date </FONT>
      <HR SIZE=1 NOSHADE WIDTH=100%>
    </TH>
    <TH width="3">&nbsp;</TH>
  </TR>
  <TR VALIGN=Bottom>
    <TD WIDTH=121 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>George
      Borst</FONT></TD>
    <TD WIDTH=10 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=10 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=108 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5,000</FONT></TD>
    <TD WIDTH=10 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=10 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=84 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>56%</FONT></TD>
    <TD WIDTH=10 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=10 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="72"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$39.03</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="90"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7/31/2011</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="121"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>David
      Pelliccioni</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="108"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2,000</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="84"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>22%</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="72"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$39.03</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="90"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7/31/2011</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="121"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Tadashi
      Nagashino</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="108"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2,000</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="84"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>22%</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="72"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>$39.03</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="10"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=CENTER width="90"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7/31/2011</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Each stock option is exercisable for 100 shares of stock of Toyota Motor
          Corporation, the Company&#146;s ultimate parent. TMC granted 50 options to Mr.
          Borst, 20 options to Mr. Pelliccioni, and 20 options to Mr. Nagashino. </FONT></TD>
          </TR>
  </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          The percentage listed above reflects the relative percentage of the total
          options received by the Company&#146;s executives in the August 1, 2005 grant.
          The grants received by the above-named individuals amounted to 0.04% of the
          total option grants made on August 1, 2005 to Toyota executives worldwide
          pursuant to the Plan. </FONT></TD>
          </TR>
  </TABLE>
          <BR>

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          <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3)</FONT></TD>
          <TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          The exercise price per share is equal to &yen;4377 per share, the closing price
          of Toyota Motor Corporation shares on the Tokyo Stock Exchange on August 1, 2005
          x 1.025. The exercise price per share included in the above table was calculated
          using the exchange rate of $1 = &yen;112.14 as in effect on August 1, 2005. </FONT></TD>
          </TR>
  </TABLE>
          <BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01 Financial
Statement and Exhibits </FONT></H1>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>(c)</b>  </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><b>Exhibits</b> </FONT></TD>
</TR>
</TABLE>
<BR>


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    <TD WIDTH=3 ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=83 ALIGN=RIGHT>
      <div align="left"><u><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit
        No. </FONT></u></div>
    </TD>
    <TD WIDTH=16 ALIGN=LEFT><u><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></u></TD>
    <TD ALIGN=LEFT width="492">
      <div align="center"><u><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Description </FONT></u></div>
    </TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
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    <TD ALIGN=RIGHT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="83">
      <div align="left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10.1</FONT></div>
    </TD>
    <TD ALIGN=LEFT width="16"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD colspan="3" ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fiscal
      Year 2006 Form of Option Agreement for the Grant of Options to Acquire the
      </FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=RIGHT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="83">
      <div align="left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></div>
    </TD>
    <TD ALIGN=LEFT width="16"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="492"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Common Stock
      of Toyota Motor Corporation*</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
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<BR>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>* </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Management contract or compensatory plan or arrangement required to be filed as an exhibit
pursuant to applicable rules of the Securities and Exchange Commission.</FONT></TD>
</TR>
</TABLE>
<BR>


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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2><font size=2>&nbsp;</font></font></p>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SIGNATURES </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized. </FONT></P>
<BR>

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    <TD WIDTH=126 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
    <TD WIDTH=3 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD WIDTH=9 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="111"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="348"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>TOYOTA
      MOTOR CREDIT CORPORATION</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="126">&nbsp;</TD>
    <TD ALIGN=LEFT width="3">&nbsp;</TD>
    <TD ALIGN=LEFT width="9">&nbsp;</TD>
    <TD ALIGN=RIGHT width="111">&nbsp;</TD>
    <TD ALIGN=RIGHT width="348">&nbsp;</TD>
    <TD ALIGN=LEFT width="3">&nbsp;</TD>
  </TR>
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    <TD ALIGN=LEFT width="126">&nbsp;</TD>
    <TD ALIGN=LEFT width="3">&nbsp;</TD>
    <TD ALIGN=LEFT width="9">&nbsp;</TD>
    <TD ALIGN=RIGHT width="111">&nbsp;</TD>
    <TD ALIGN=RIGHT width="348">&nbsp;</TD>
    <TD ALIGN=LEFT width="3">&nbsp;</TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="126"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date:
      August 4, 2005</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="9"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="111"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="348"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By:&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      /S/ JOHN F. STILLO</u></FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="126"><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="9"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="111"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="348"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John
      F. Stillo</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="126"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="9"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="111"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="348"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Vice
      President and</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="126"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=LEFT width="9"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="111"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
    <TD ALIGN=RIGHT width="348"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Chief
      Financial Officer</FONT></TD>
    <TD ALIGN=LEFT width="3"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
  </TR>
</TABLE>

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[{"type": "8-K", "sequence": "1", "filename": "form8kaug405.htm", "secsgml_size_bytes": 24335}]
{"company-data": {"conformed-name": "TOYOTA MOTOR CREDIT CORP", "cik": "0000834071", "assigned-sic": "6141", "irs-number": "953775816", "state-of-incorporation": "CA", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09961", "film-number": "05998959"}, "business-address": {"street1": "19001 S. WESTERN AVENUE", "city": "TORRANCE", "state": "CA", "zip": "90509", "phone": "(310) 468-1310"}, "mail-address": {"street1": "19001 S. WESTERN AVENUE", "city": "TORRANCE", "state": "CA", "zip": "90509"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported):
August 1, 2005
TOYOTA MOTOR CREDIT
CORPORATION
(Exact name of
registrant as specified in its charter)
California
1-9961
95-3775816
(State
      or other jurisdiction of
(Commission
(IRS
      Employer Identification No.)
incorporation)
File
      Number)
19001
      S. Western Avenue
90501
Torrance,
      California
(Address
      of principal executive offices)
(Zip
      Code)
Registrant's telephone
number, including area code:     (310) 468-1310
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
|_|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|_|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR       240.14a-12)
|_|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the       Exchange Act (17 CFR
240.14d-2(b))
|_|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the       Exchange Act (17 CFR
240.13e-4(c))
Item 1.01 Entry into a
Material Definitive Agreement
On August 1, 2005, Toyota Motor
Corporation granted stock options to various global executives including three executives
of Toyota Motor Credit Corporation ("TMCC"). The details of the grants to the
TMCC executives are set forth below. The form of Option Agreement is set forth as an
exhibit to this Form 8-K and is substantially the same as the Fiscal Year 2005 Form of
Option Agreement previously filed as an exhibit to TMCC's Securities and Exchange
Commission filings.
OPTION
        GRANTS
Individual
        Grants
Name
Number of Securities
Underlying Options
Granted (1)
% of Total
      Options
Granted to TMCC
Employees (2)
Exercise
      or Base
Price ($/Sh) (3)
Expiration
Date
George
      Borst
5,000
56%
$39.03
7/31/2011
David
      Pelliccioni
2,000
22%
$39.03
7/31/2011
Tadashi
      Nagashino
2,000
22%
$39.03
7/31/2011
(1)
Each stock option is exercisable for 100 shares of stock of Toyota Motor
          Corporation, the Company's ultimate parent. TMC granted 50 options to Mr.
          Borst, 20 options to Mr. Pelliccioni, and 20 options to Mr. Nagashino.
(2)
The percentage listed above reflects the relative percentage of the total
          options received by the Company's executives in the August 1, 2005 grant.
          The grants received by the above-named individuals amounted to 0.04% of the
          total option grants made on August 1, 2005 to Toyota executives worldwide
          pursuant to the Plan.
(3)
The exercise price per share is equal to ¥4377 per share, the closing price
          of Toyota Motor Corporation shares on the Tokyo Stock Exchange on August 1, 2005
          x 1.025. The exercise price per share included in the above table was calculated
          using the exchange rate of $1 = ¥112.14 as in effect on August 1, 2005.
Item 9.01 Financial
Statement and Exhibits
(c)
Exhibits
Exhibit
        No.
Description
10.1
Fiscal
      Year 2006 Form of Option Agreement for the Grant of Options to Acquire the
Common Stock
      of Toyota Motor Corporation*
*
Management contract or compensatory plan or arrangement required to be filed as an exhibit
pursuant to applicable rules of the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
TOYOTA
      MOTOR CREDIT CORPORATION
Date:
      August 4, 2005
By:
/S/ JOHN F. STILLO
John
      F. Stillo
Vice
      President and
Chief
      Financial Officer