SubscribeAll Posts Tagged With: "Toyota stock"
Toyota’s First Operating Loss Since 1938 Spells Trouble for Japanese Economy
Joining a chorus of ailing U.S. automakers, Toyota Motor Co. (TM) yesterday (Monday) forecast its first operating loss in 71 years on plummeting demand and sharp appreciation of the Japanese yen. The announcement prompted Moody’s Investors Service to consider downgrading the company’s top-rated credit.
But the news may have bigger implications for Japan’s entire economy, as the country’s exports continue to take a beating from sagging worldwide demand for its products.
Japanese exports plunged 26.7% in November from a year ago. Shipments to the U.S. slid an unprecedented 34%, Japan’s Finance Ministry said. A strong yen, which makes Japanese goods more…
23Dec2008 | Money Morning | 0 comments | Continued
Loading ...
