Toyota expects 4.9-bln-dollar operating loss

Special Report:Global Financial Crisis

An employee prepares cars for shipment

at Toyota Motor Corp.'s logistics facility in Yokosuka, south of Tokyo

January 5, 2009.(Chinese media/Reuters Photo)
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TOKYO, Feb. 6 (Chinese media) -- Toyota Motor Corp., which

recently overtook General Motors in sales to become world's largest automaker,

on Friday said it could see an operating loss of 450 billion yen (4.9 billion

U.S. dollars) in the fiscal year to March, due to the plunging sales amid global

economic downturn.

If finalized, it would be the first time that the

auto giant has fallen into the red since comparable data became available in

fiscal 1963.

The company lowered its earnings forecast for the

third time and said it now expects to incur 350 billion yen (3.9 billion U.S.

dollars ) in group net loss for the fiscal year to March 31.

The projected loss for fiscal 2008 compares with a

net profit of 50 billion yen (560 million dollars) the firm projected less than

two months earlier and contrasts with a record-high 1.72 trillion yen (19

billion dollars) profit it logged the previous business year.

In addition to weakening demand, Toyota also

attributed the downward revision to its earnings forecast to the yen's steep

appreciation against other major currencies.

Japan's top bank reports loss in Jan.-

Dec. period

TOKYO, Feb. 6 (Chinese media) -- Japan's Mitsubishi

UFJ Financial Group (MUFG) Inc. said Friday it fell into the red in the nine

months from January to December with a group net loss of 42.07 billion yen (462

million dollars) due to the global financial turmoil and economic downturn.

The earnings by Japan's biggest banking group in the

period stood in stark contrast with the 314.66 billion yen net profit logged in

the same period a year before. Full story

Panasonic expects net loss of $4.2

bln, to cut 15,000 jobs

A couple look at electronic products

displayed at Panasonic Center showroom in Tokyo September 26,

2008.(Chinese media/Reuters, File Photo)
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Gallery

TOKYO, Feb. 4 (Chinese media) -- Japan's electronics

giant Panasonic Corp. said Wednesday it will consider cutting about 15,000 jobs

worldwide by the end of March next year as part of the cost-saving measures to

combat the global economic crisis.

Panasonic, formally Matsushita Electric Industrial Co.,

also said it will close down 13 domestic and 14 overseas production bases by the

end of March this year. Full story

Japan's leading firms rush to revise

downward earnings for FY 2008

Visitors look at a screen showing the

logo of Honda Motor Co at the company's headquarters in Tokyo Jan. 30,

2009. Honda Motor Co lowered its annual profit forecasts for a fourth time

this year, while rival Toyota Motor Corp's losses are growing as sliding

global car sales force the industry to scale back production further.

(Chinese media/Reuters Photo)
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TOKYO, Jan. 30 (Chinese media) -- A number of Japanese industry leaders, including

Toyota, Hitachi, Honda, and NEC are rushing to revise group operating loss

projections further downward on Friday as the spread of the economic crisis

produced larger-than-expected effect on their profitability.

Toyota Motor Corp. is expected a group net loss this financial year through

March. It would be the first annual net loss for the company after it was

founded in 1937, local media said Friday. Full story

Toshiba, NEC in talks to integrate

semiconductor business

TOKYO, Jan. 30 (Chinese media) -- Toshiba Corp. and NEC Corp.

have begun talks to integrate their troubling semiconductor operations to combat

plummeting chip prices and dwindling global demand, local media reported Friday.

Fujitsu Ltd. may also participate in the deal in the

future since it is also looking for a tie-up partner for its semiconductor unit,

which was spun off in March last year, Kyodo News said, citing sources familiar

with the matter. Full story

Toshiba logs 1st operating loss in 7

years

TOKYO, Jan. 29 (Chinese media) -- Toshiba Corp. projected

Thursday that the company will record 280 billion yen (3.11 billion U.S.

dollars) in net and operating loss in fiscal 2008 as flash memory prices were

slumping and global economic situation worsening.

If that proves to be the case, the predicted loss

will be the first since fiscal 2001. Full story

Honda to further cut output in Japan,

North America

The logo of Honda Motor Co, Japan's

second-biggest carmaker, is pictured in front of the company headquarters

in Tokyo Jan. 27, 2009. Honda announced further production cuts in North

America and Japan, as the industry struggles with weak demand in a brutal

economic downturn. (Chinese media/Reuters Photo)
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Gallery

TOKYO, Jan. 27 (Chinese media) -- Honda Motor Co. announced Tuesday it will further

slash auto production by some 50,000 units in Japan and North America by the end

of March due to shrinking demand for vehicles worldwide amid global financial

meltdown. Full story