Toyota Warns of $5 Billion Loss
February 7th, 2009 at 5:05 pm - by admin
Toyota Motor Corporation, the biggest car manufacturer in the world, and the popular fault for the American auto-industry collapse, announced that it expects to see a - 450 billion Yen or about $5 billion U.S. - loss for their fiscal year which ends in March.
Just six weeks ago, Toyota quoted a forecast of nearly 30% of that at 150 billion Yen - the major change being another significant reduction in the company’s sales predictions after last weeks quarterly results.
$3.97 billion of this estimated loss was made in the latest quarter of 2008 - just from October to December. Year-to-year the company made operating profits of 2.27 trillion Yen, or $25 billion U.S. in the fiscal year of 2007.
A loss of $5 billion U.S. would be the largest loss ever faced by the company.
