Toyota May Log Parent-Only Operating Loss

Nagoya, Dec. 19 (Jiji Press)--Toyota Motor Corp. <7203> is expected to plunge into an unconsolidated operating loss in fiscal 2008 for the first time since the 1982 merger that created the company, informed sources said Friday.
The Japanese automaker is expected to announce the estimate for the
year to March 2009 on Monday, when the company is scheduled to hold a
year-end news conference.
Toyota is also likely to lower its group earnings projections
steeply as the Japanese auto industry is hit hard by slumping vehicle sales
worldwide and the yen's appreciation.
The company cut its earnings estimates only in November, lowering
its consolidated net profit estimate to 550 billion yen from 1,250 billion
yen, its operating profit forecast to 600 billion yen from 1.6 trillion yen,
and its sales outlook to 23 trillion yen from 25 trillion yen.
Toyota is considering putting off the release of a global output
and sales plan that the company usually discloses at a year-end press
conference, the sources said. Honda Motor Co. <7267> has already postponed
releasing such a plan.
In the year to March 2008, Toyota's parent-only operating profit
was at 1,108.6 billion yen. As of November, the company projected operating
profit at 112.5 billion yen for the current second half ending next March
after posting 252.5 billion yen in profit for the first half.
Toyota was created in 1982 through the merger of Toyota Motor Co.
and Toyota Motor Sales Co.