On Friday, Toyota has forecasted its first annual net loss since 1950. The expected loss is 350 billion Yen, i.e., $3.85 billion for the fiscal year running through March.

Toyota’s profit has drastically gone down comparing to the previous year from the record 1.72 trillion Yen profit.

This prediction has come up with keeping in view the posted loss for Oct-Dec quarter, which was 164.7 billion Yen i.e. $1.8 billion. Previous year’s recorded profit for the same quarter had been 458.6 billion Yen. Quarterly drop of profit to Toyota Corporation has been 28.4% to 4.8%.

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Because of declining sales and surging yen, the biggest Japanese automaker Toyota sees its first yearly loss in 71 years.

According to the company, it may suffer 150bn yen annual loss in its operating profits.

Just like many other countries of the world, the current financial year was depressive for Japan and it posted a $2.5bn trade deficit in November.

There were 26.7% down export levels because of the increasing yen, finance ministry of country says.

Toyota posted 2.27 trillion yen profit one year back. Toyota told that it was expecting to have significant net profit for the fiscal year ended in March, however, the company had to decrease its forecast to 50bn Japanese yen that were estimated 550bn previously.

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