Toyota warns of $5 billion fiscal year operating loss

Toyota warns of $5 billion fiscal year operating loss
World's largest automaker hit by weakening sales, stronger yen

By Chris Oliver, MarketWatch
Last update: 4:07 a.m. EST Feb. 6, 2009

HONG KONG (MarketWatch) -- Toyota Motor Corp. said Friday losses for the business year ending next month will be larger than it had earlier forecast as sales weaken in Japan and overseas markets, and an appreciating yen trims the value of repatriated foreign earnings.
Toyota said its operating loss will likely widen to 450 billion yen ($4.95 billion) for the fiscal year ending March 31. In December, the Nagoya-based automaker forecast a 150 billion yen operating loss.
The operating loss is Toyota's first since the end of World War II.
"Toyota will be facing a tough time for the next few quarters," said UBS analyst Tatsuo Yoshida in Tokyo.
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inspirion7 - 2/6/2009 2:08:23 PM

-4 Boost

I'm so use to seeing GM, Ford post such ginormous losses, a billion is a billion no matter who is loosing it or for whatever the reason. At the end of the day, money is fleeting. How long does it take to recover 4.5 billion dollars? Just think, GM had loses quarter after quarter like this or more.

BigShow50 - 2/6/2009 6:11:36 PM

-1 Boost

Look at the bright side of things...it takes the Big 3 to loose 5 billion in a "MONTH"...where as Toyota takes about a year...Good job Toyota in terms of being "less crappier" than others!!!...LMAO!!!

BigShow50 - 2/6/2009 8:19:56 PM

+1 Boost

And besides...Toyota is like "celebrities"...with so much money they can afford stupity, shame, arrogance, and of coarse divorces', etc,etc...just like Toyota can take a kick in the nuts from time to time, that at the end of the day, they are still standing strong & tall.