The head of Toyota Motor Corp on Friday called the current dollar-yen rate very tough, saying the weak U.S. currency made it difficult to return to profit on an unconsolidated level.
When you get to this level, it makes it difficult to return to profit on sales growth alone, President Akio Toyoda told a news conference at the Japan National Press Club.
Toyoda repeated Toyota's aim to return to profit at the parent level as soon as possible.
For the financial year to March, Toyota has projected a consolidated operating loss of 750 billion yen ($8.4 billion), assuming a dollar rate of 92 yen. It has forecast a parent-only operating loss of 600 billion yen.
Shares of Toyota were down 3.1 percent at 3,400 yen, mirroring a sharp fall in other auto stocks as the dollar traded around 89.40 yen, within sight of an eight-month low of 88.23 yen struck on Monday.
(Reporting by Chang-Ran Kim; Editing by Chris Gallagher)