Toyota expects to record an operating loss for the first time since 1941
Toyota Motor provides for recording an operating loss for the first time since 1941, in the wake of a slowdown in its global sales increased a good pace for nine years.
The collapse in demand, mainly in his key works such as the U.S., combines a crumbling of its profits to the solidity of the yen was due to growth at Toyota, the Japanese number of automobile.
The president of the company, Katsuaki Watanabe, explained Monday by making public the figures for 2008 and its financial forecasts for 2009, the hard times hit Toyota faster, more broadly and deeply than expected. He added that the present crisis is unprecedented and that the situation requires urgent action.
Mr. Watanabe also blame for the difficulties of his enterprise, the solidity of the Japanese currency, which reached its highest levels in 13 years compared to the U.S. dollar.
Toyota has reduced the size of its net income discount for the current fiscal year ending next March. It now expects to enter an amount of 50 billion yen or U.S. $ 555 million on its books, down sharply compared to net profit of 1.7 trillion yen realized in the prior year.
In addition, Toyota expects to record an operating loss of 150 billion yen, or U.S. $ 1.66 billion for the fiscal year ending in March, against a profit of 2.27 trillion operating yen in the prior year.
The Japanese manufacturer had never reported operating losses since it began publishing such data, or in 1941. The only kind of loss he has suffered is a home for the year ending in calculations March 1938, one year after its creation.
Toyota has also revised downward the number of vehicles it expects to produce during the year. She now plans to produce 8.96 million vehicles, including cars and trucks, four percent less than in the prior year. Earlier this year, Toyota expected to produce 9.5 million vehicles in total during the year. Its previous forecasts were gone as far glimpse production of 9.85 million vehicles this year.
