I talked to a Toyota parts manager today and he said that it was or had stainless in it? I started this question since my 95 Landcruiser was stainless, my Lexus LS400, SC400 were also stainless. I figured that Toyota/Lexus must use stainless in all of their exhaust systems since even my 1984 Toyota 4x4 that I had over 180K miles on when I sold it in 1994 never had a rusted exhaust system even though it spent most of it's life on salty midwest roads (so I figured it must of had a good amount of stainless content). If these things are not stainless why do they hold up so well???