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Yes it does, I have the 350 f sport with VGRS and telescopic steering wheel which moves up and away when shutting off the car and comes out to last position when powered on.
INTERESTING!!!
If this the case, it may mean that the auto dipping side-view mirrors (when selecting reverse) don't need memory seats to work, such that your IS350 F Sport doesn't have memory seats, but the steering wheel still recalls where it was positioned previously; meaning there's another memory module somewhere.