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12-22-2008, 09:17 AM #1
Toyota Forecasts Its First Operating Loss in 71 Years (Updat
Toyota Forecasts Its First Operating Loss in 71 Years (Update3)
By Naoko Fujimura and Tetsuya Komatsu
Dec. 22 (Bloomberg) -- Toyota Motor Corp., the world’s second-largest automaker, forecast its first operating loss in 71 years on plummeting demand, prompting Moody’s Investors Service to consider downgrading the company’s top-rated credit.
The carmaker will post a 150 billion yen ($1.7 billion) loss in the year through March, it said in a statement today, scrapping a previous forecast of a 600 billion yen profit.
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