Toyota shares fall 4% on bleak outlook
TOKYO: Shares in Toyota Motor Corp fell four percent on Monday after it forecast a much bigger-than-expected $8.6 billion annual loss and said it would sell about 1 million fewer vehicles this year. Analysts suggested Toyota, the world’s biggest car maker, was being too conservative but the market appeared unwilling to look beyond the bleak outlook. Toyota shares dropped 160 yen to 3,820 yen, underperforming a 0.2 percent fall in the benchmark Nikkei share average. It’s depository receipts fell only 1.3 percent on Friday after the Toyota results and forecasts. reuters
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