Toyota logs group net loss of 77.82 bln yen in April-June period

Toyota logs group net loss of 77.82 bln yen in April-June period

An employee is reflected on a car from Toyota Motor Corp as she wipes the car at its dealers shop in Yokohama, south of Tokyo August 4, 2009. Toyota Motor Corp reported its third straight quarterly loss but lifted its bearish forecast to call for a smaller loss this year as deep cost reductions help make up for some of the slump in global vehicle sales.

TOKYO, Aug. 4 -- Toyota Motor Corp., world's largest automaker, said Tuesday it logged a group net loss of 77.82 billion yen in the April to June quarter due to shrinking demand amid the global economic downturn.

But the company revised upward its full-year loss forecasts as its global sales outlook improved due to more vehicle sales in Japan.

The company announced the net loss, a reversal from a year-earlier profit of 353.66 billion yen, narrowed sharply compared with 765.8 billion yen in losses registered during the January to March quarter.


An employee polishes Toyota Motor's cars at its dealers shop in Yokohama, south of Tokyo August 4, 2009.

Toyota's group operating loss stood at 194.86 billion yen in the April-June quarter, compared with a year-earlier profit of 412.59 billion yen, on sales of 3.84 trillion yen, down 38.3 percent.

It now forecasts a group net loss of 450 billion yen, compared with 550 billion yen projected in May.

It also anticipates an operating loss of 750 billion yen on sales of 16.8 trillion yen, compared with earlier projected operating loss of 850 billion yen on sales of 16.5 trillion yen.

Toyota said it expects global vehicle sales of 6.6 million units, up from 6.5 million projected earlier.


A boy looks at the Toyota Motor's custom vehicle iQ x Verbal at its dealers shop in Yokohama, south of Tokyo August 4, 2009.
(Xinhua)