Toyota Motor Corp. said Friday it expects a ¥850 billion group operating loss and a ¥550 billion net loss for the year ending next March — its biggest losses ever and its second straight year of red ink — as the global economy shrinks and the yen muscles up against other currencies.

The auto giant said group sales for the year are expected to drop to 6.5 million units from 7.57 million a year earlier.

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