Battered by the yen's historic ascent and the impact of the Great East Japan Earthquake, Toyota Motor Corp. took big hits to both consolidated revenue and earnings in the year that ended in March.
Toyota also trailed its rivals, both domestic and foreign, in penetrating such emerging markets as China. It slipped to No. 4 among the world's carmakers in number of cars sold, after holding the top spot in 2008.
In the year through next March, the automaker is expecting a strong recovery, but its revival appears to hinge on whether it can adopt structural reforms that involve revamping its relations with subcontractors in Japan.