Toyota Motor Corp.(Japan) posted that its revenue has been reduced to 21.9% in revenue. The reason explained was the significant decline in vehicle sales and strength in Japanese Yen.
In the recent months Japanese Yen had a rapid appreciation against the U.S Dollar and the Euro. Also the increase in price of raw materials joined to it which mad the Toyota to face a wider loss than it expected.
Toyota posted a loss of 447 billion yen in the Fiscal year ended Mar 31st, compared to its previous record of 1.72 trillion yen profit and a net revenue of 26.29 trillion yen.
As a result the Value of Toyota's stock have also come down.
It is expected that there will be more loss to the Corp. by the next quarter also.
Lets see!!!
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