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Toyota profit loss forecast

Japanese car giant Toyota has forecast its first ever group operating loss due to a relentless global slide in car sales and a crippling rise in the yen. The company said it expected a loss of 1.1 billion from its core operations. "This is very, very, very bad," said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments. "There's a chance they could fall into the red in the next business year as well. "This is also not just a problem for Toyota. What is good for Toyota is good for the Japanese economy." Japan posted a trade deficit of £1.7bn for November as exports fell at a record rate. The rising yen saw export levels down 26.7 per compared with the same month last year.

ITN | December 22, 2008Watch more videos from ITN

Tags:. .daiwa. .ogawa. .koichi. .relentless. .crippling











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