1. Toyota executives arriving at news conference, zoom out
2. Cutaway of TV cameras
3. Wide of news conference
4. SOUNDBITE: (Japanese) Mitsuo Kinoshita, Toyota Executive Vice President:
"This time we had no choice but to make the adjustment (in our financial result) for third time. From 22 December, even during this period, for one and half months, the situation in the main market such as North America, Europe and Japan became more severe and the sales in this total market declined. We had to report sales loss for throughout the fiscal year."
5. Cutaway of photographers
6. SOUNDBITE: (Japanese) Mitsuo Kinoshita, Toyota Executive Vice President:
"If one thinks it (recession) will be bottomless, I think it is not quite the case. This low level will continue for a while. But, I expect the current (US President Barack) Obama regime's financial package to gradually start showing its effect. So, I think it will go upward by the end of the year. That is my impression for the North American market."
7. Cutaway of cameramen
8. Wide of people leaving news conference; zoom into car projected onto wall
Toyota City, Nagoya Prefecture, Central Japan - 4 February 2009
9. Wide exterior of Toyota Motor Corporation headquarters
Japanese car manufacturer Toyota sank into the red for the October-December quarter and acknowledged on Friday it was heading for its first annual net loss since 1950 because of plunging global automobile sales and the strong yen.
Joining a string of Japanese companies that have slashed forecasts, Toyota Motor Corporation said it expects a net loss of 350 (b) billion yen (3.9 (b) billion US dollars) for the year through March.
That's a stunning reversal from the record 1.72 (t) trillion yen (18.9 (b) billion US dollars) profit the maker of the Prius hybrid and Lexus luxury car posted the previous fiscal year.
In December, Toyota thought it would eke out a small net profit, but the outlook has darkened further since then, especially amid a dramatic contraction in the US auto market.
For the fiscal third quarter, Toyota racked up a 164.7 (b) billion yen loss (1.8 (b) billion US dollars), down sharply from the 458.6 (b) billion yen (5.02 (b) billion US dollars) profit it had the same period the previous year, as the global slump squelched sales.
Quarterly sales plunged 28.4 percent to 4.8 trillion yen (52.6 (b) billion US dollars).
The last time Toyota, which last year overtook General Motors Corporation to become the world's best-selling auto company, had an annual net loss was in 1950 when it reported only parent results.
Since it began reporting group results in 1998, under US accounting standards, it has never reported red ink.
Global vehicle sales for the quarter shrank by 443-thousand vehicles from the same period a year earlier to 1.84 (m) million, as sales dropped throughout the world, including North America, Europe, Japan and other Asian nations, it said.
"If one thinks it (recession) will be bottomless, I think it is not quite the case. This low level will continue for a while," Toyota Executive Vice President Mitsuo Kinoshita said at a news briefing in Tokyo.
Kinoshita was, however, optimistic about US President Barack Obama's economic stimulus package for North America, saying that it should "gradually start showing its effect."
Conditions were especially tough in the US and Europe, and the rapid rise of the yen, which reduces the value of overseas earnings, also hurt results, he said.
Toyota also lowered its global vehicles sales forecast by 220-thousand vehicles from its December forecast to 7.32 (m) million vehicles.
Kinoshita promised that the company will turn itself around through cost cuts and reshaping its business by coming up with new products to meet global demand.
He said Toyota continues to be committed to developing gas-electric hybrids as a pillar of its growth strategy.
He pointed to the third-generation Prius, set to arrive at dealerships in May, as well as the HS250h, the first Lexus model designed solely as a hybrid, scheduled for sale midyear, as models symbolising Toyota's future.