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For the second time in less than two months, Toyota will lower its profit forecast.
Among the factors hitting Japan's auto industry is the plummeting level of exports leaving the country.
Japan's ministry of finance recently revealed that exports have fallen by more than 26 per cent, resulting in the country's first trade deficit for 28 years, reports the Times.
Toyota's president Katsuaki Watanabe said: "The change that has hit the world economy is of a critical scale that comes once in a hundred years."
In related news, the Japanese stock market gained in trading today (December 22nd) following speculation that the Bank of Japan will buy corporate debt to reduce bankruptcies.
