Toyota, the biggest car manufacturer in Japan, has forecast its first annual loss in the history of the company.
The prediction is blamed on plummeting global car sales and a surge in the value of the Yen.
This is the second profit warning from the 71-year old company in the past seven weeks and has raised further fears in the car market as Toyota is widely regarded as the most efficient and well managed car manufacturing company in the world.
Company chief Katsuaki Watanabe said that the current situation and the size of the downturn was something that only occurred “once in a hundred years”.
