The Wall Street Journal reports Toyota (TM) on Monday warned it expects to make its first-ever operating loss in the fiscal year through March as recessions at home and abroad corral Japan's biggest automobile maker into as tight a corner as it has ever known. Citing the strength of the yen and a recession-sprung slump in vehicle sales in key markets like the U.S., Europe and Japan, Toyota said it now expects a consolidated operating loss of 150 bln yen, or about $1.68 bln, in the fiscal year through March. It's a kind of emergency that we've never experienced before," said Toyota President Katsuaki Watanabe, speaking at a news conference here in the co's home prefecture in western Japan. "The environment surrounding us is extremely harsh. Toyota on Monday also reduced its revenue projection to 21.5 trln yen from 23 trln yen. This reduction is in line with a cut in its estimates for global vehicle sales to 7.54 mln in the fiscal year, down 8.5% from the 8.24 mln it previously expected to sell.