Toyota warns of $5 billion fiscal year operating loss World's largest automaker hit by weakening sales, stronger yen

Toyota Motor Corp. said Friday losses for the business year ending next month will be larger than it had earlier forecast as sales weaken in Japan and overseas markets and an appreciating yen trims the value of repatriated foreign earnings.

Toyota said its operating loss will likely widen to 450 billion yen ($4.95 billion) for the fiscal year ending March 31. In December, the Nagoya-based automaker forecast a 150 billion yen operating loss.

The operating loss is the first in Toyota's modern history since the end of World War II.