That 50 billion yen is a long way from Toyota's first initial projection for this fiscal year (1.25 trillion yen, or $13.9B USD), illustrating just how ugly it is out there for every automaker worldwide, and even a far cry from their amended projections from just last month (550 billion yen, or $6.1B USD). Further, Toyota isn't ruling out further profit cuts before the fiscal year is over.
In perhaps its most telling move, Toyota declined to give any guidance for fiscal 2009 or 2010, a move that breaks with company tradition. Click on the link below for more blow-by-gory-blow details of Toyota's fortunes.
[Source: Associated Press]