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Published February 07, 2009, 12:00 AM

Toyota predicts annual loss

Toyota forecast its first annual loss since 1950 on Friday as plunging demand for cars, especially in the U.S., and the strong yen pummeled earnings at the world’s No. 1 automaker.

TOKYO (AP) — Toyota forecast its first annual loss since 1950 on Friday as plunging demand for cars, especially in the U.S., and the strong yen pummeled earnings at the world’s No. 1 automaker.

Toyota Motor Corp. reported a 164.7 billion yen ($1.8 billion) loss for the October-December quarter, down sharply from the 458.6 billion yen profit for the same period the previous year.

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