Correct!
The Toyota 7 made its racing debut at the fifth Japanese Grand Prix of May 3, 1968. Four 7s were entered for the race at the Fuji Speedway and one took away the honors in its class.
Toyota had skipped the previous year's race. Time had been too short to develop a brand-new racing car properly, because new rules governing design were not settled until very late. Toyota was determined to build a new racing car from the ground up, which made it much more difficult for Toyota than for its competition to put a machine together in time for the 1967 season. As with the current F1 project, Toyota did not build the 7 to simply win races, but also to help the company gain valuable experience through the process of developing a winning car.
Toyota targeted Racing Group 7 regulations, as specified by the FIA, the governing body of world motor sport. The car was conceived and masterminded by the talented Jiro Kawano, the man behind the Toyota 2000GT, but development and construction were entrusted to Yamaha. The design was typical of a Group 7 car of the period, with the main cockpit structure made up of aluminum side sills and scuttles, and glass fiber body panels. The prototype, which was first seen testing at Suzuka in February '68, had a DOHC fuel-injected, six-cylinder, two-liter engine borrowed from the 2000GT. By the time the car appeared at the Fuji circuit in March, the engine had been upgraded to a proper three-liter DOHC V8 all-alloy unit.
