Proving that no company is insulated from the current financial crisis Toyota Motor Corp. will reportedly file their first annual loss since the company's first year in business. Loss of sales, and a strong Yen are seen as the key problems with this year's report. The 70-year-old company last posted a loss in 1937-38.
Despite making a 140 billion Yen ($1.57 billion) profit in the first half of the year, currency fluctuations took a toll on the company. As the value of the Yen rose, the value of each overseas sale went down. This was especially problematic as the US Dollar has been on a downward slide most of the year. Currency losses for the first six months were in the 300 billion Yen ($3.38 billion) range.
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