Toyota First Ever Annual Operating Loss

Submitted by Share Trading on 12 January, 2009 - 16:15

Toyota Motor Corp has forecasted their first ever annual operating loss in its 70 year history. The Japanese automotive company has also put out an 11 day output suspension that is unprecedented. Thousands of contract workers are being laid off raising unemployment and homeless levels, especially in the Nagoya region. The forecasted loss is largely due to the financial economic crisis, the US recession and the increasing value of the Yen vs US dollar.

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