The Majesta was released in October 1991 as a new high-end model positioned between the Crown and the Celsior. What prompted the creation of the Majesta was the success of Nissan's luxury sedan, the Cedric Cima. Launched in 1988 when the economic bubble drove demand for luxury cars, the Cima enjoyed enormous popularity which became something of a social phenomenon.

Although the Majesta shared the Crown name, it was in fact totally different from the Crown in terms of the platform and the body. While the pillared hardtop styling was inherited from the Crown, it employed a newly developed fully monocoque body as opposed to the Crown's perimeter frame. As for body dimensions, the wheelbase, length and width of the Majesta were larger than those of the Crown by 50mm, 100 mm, and 50 mm, respectively. The chassis combined an electronically controlled 4-wheel double wishbone air suspension with a newly developed anti-vibration subframe and the rack-and-pinion steering.

The choice of engines included a 3,968 cc 260 PS V8 4-cam 32-valve engine (1UZ-FE) unit that was also adopted on the Celsior, and a 2,997 cc 230 PS inline 6-cylinder DOHC 24-valve engine (2JZ-GE). The transmission was a 4-speed ECT-i. Initially available only in a rear-wheel-drive configuration, the Majesta added the C-type i-Four model with the "ECmatic II" full-time 4-wheel-drive system in October 1992.

Earlier in May 1992, Toyota released a special model celebrating the cumulative sales of 3.5 million Crowns.