12 Apr 2009

Toyota set to suffer second consecutive loss: report

2:10 pm on 12 April 2009

Toyota is expected to record a second consecutive annual loss because of the global economic slump and a stronger yen.

The business daily Nikkei in Japan reports Toyota's group operating loss may top Y500 billion ($A7 billion) for the current fiscal year which started 1 April.

The company has already warned that it expects an operating loss of Y450 billion ($A6.3 billion) yen, for the fiscal year to 31 March.

The Nikkei said revenue for the current year is expected to fall to around Y20 trillion ($A282 billion) yen - down from an estimated Y21 trillion ($A296 billion) yen for the year before.

Toyota auto sales are now estimated at 6.5 million vehicles for the latest fiscal year - which would be the first time they have fallen below seven million units.