Six of nine major companies affiliated with Toyota Motor Corporation posted losses for the fiscal year ended 31 March.
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Denso posted the largest net loss of JPY84bn as its parts sales to the US Big Three and Toyota fell.
This was Denso’s first group net loss since it began to disclose consolidated earnings in the year to December 1978, Kyodo News said.
The five other loss-making companies were auto parts suppliers Aisin Seiki, Toyota Auto Body, Toyota Industries, Toyota Boshoku and Aichi Steel.
The other three Toyota affiliates reported substantial group net profit declines. Profit plunged 40.4% at trading company Toyota Tsusho, 96.4% for vehicle assembly subcontractor Kanto Auto Works and 87.2% at chemical auto parts supplier Toyoda Gosei.
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By GlobalDataFor fiscal 2009, only Toyota Tsusho expects to post a group net profit, though with a 37.8% decline, Kyodo said.
All nine companies predicted that any earnings recovery would come only in the second half of the year and fail to offset plunges in the first half.
”Government measures (including subsidies for auto purchases) at home and abroad may work to produce bright signs in the second half,” Toyota Boshoku President Shuhei Toyoda told Kyodo News.
