News reports say Toyota Motor Corp. is expecting a net loss for the fiscal year through March - its first in more than four decades.

Japan's Kyodo News agency and The Nikkei business newspaper reported Friday that Toyota is to revise down its projections for the third time, with the operating loss now expected at around 400 billion yen ($4.5 billion) from the earlier projection of 150 billion yen ($1.7 billion).

Nikkei says Japan's top automaker now expects a net loss for the fiscal year ending March - the first net loss since 1963.

Toyota has been hammered by the collapse in global demand for cars and was expecting its first operating loss in 70 years and was slashing the number of temporary workers.