Toyota expects £1.1 billion loss
Toyota's financial year runs from March to March, and Toyota has not posted a loss since it began reporting financial results in 1941. The warning was made by company boss Katsuaki Watanabe.
'The change that has hit the world economy is of a critical scale that comes once in a hundred years,' said Watanabe, who pointed to a dramatic fall in American car sales as a key factor in Toyota's expected loss.
Despite the operating loss, Toyota still expects to make a net profit of around £375 million for the current year, which is down from around £4 billion for the previous 12 months.