Toyota Motor Corp. radically revised its earnings projections again Friday and said it now expects a ¥450 billion group operating loss and a ¥350 billion group net loss for the year ending March 31.
The expanded losses, which would be the biggest since the automaker was established in 1937, underline how fast global demand is sliding, at a time when the yen is also surging against the dollar and euro.
Toyota posted a ¥2.27 trillion operating profit and a ¥1.72 trillion net profit on ¥26.3 trillion in sales the previous year.