Toyota Sees Losses Growing This Year

TOKYO (AP) - Toyota is reporting a 436.94 billion yen ($4.41
billion) net loss for the fiscal year through March, a larger loss
than it had forecast and its worst result in company history.

Worse may be yet to come. The world's largest automaker said
Friday it expects its operating loss - which reflects its core
automaking business - to grow to 850 billion yen for the year
through March 2010 from 461 billion yen this past year.

Toyota has been battered by the global slump and said annual
sales plunged 21.9 percent to 20.529 trillion yen for the fiscal
year through March 2010.

The Japanese automaker had been booming until last year when
auto demand was undercut by the U.S. financial crisis and credit
crunch, sending ripple effects around the world.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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