Tokyo  - Japan's largest car company, Toyota Motor Corp, was expected to run into the red this fiscal year in its first annual operating loss ever, according to the Japanese financial newspaper Nikkei Friday.

In addition to the worldwide financial crisis, the rapid rise of the value of the Japanese currency, the yen, were named as the main reasons, according to the story, which did not cite sources.

Toyota plans a year-ending press conference Monday at its headquarters in Nagoya, at which is was also expected to substantially sink its earnings forecast for its group, which included Daihatsu and Hino Motors.

Toyota in early November drastically reduced its expectations for its current business year, which ends March 31.

Tokyo  - Japan's economy was expected to stagnate in the coming fiscal year and would contract 0.8 per cent in the current one, the government said Friday.

It would be the first time in seven years that the world's second-largest economy would see zero-per-cent growth.

The Cabinet Office released the figures after it had also factored in the effect of a 75-trillion-yen (850-million-dollar) economic stimulus package it announced this fiscal year, which ends March 31.

Tokyo  - Stocks in Tokyo fell in Friday morning trading shortly before a central bank decision on interest rates after drops overnight on Wall Street.

The benchmark Nikkei 225 Stock Average was down 94.95 points, or 1.1 per cent, at 8,572.28.

The broader Topix index of all first-section issues also declined 3.16 points, or 0.38 per cent, to 835.53.

The Bank of Japan was ending a two-day meeting Friday, after which it was expected to lower interest rates as the world's second-largest economy finds itself in recession.

Tokyo  - Japan's largest car company Toyota is expected to run into the red for the year for its first annual operating loss ever, according to the Japanese financial newspaper Nikkei Friday.

In addition to the worldwide financial crisis, the rapid rise of the value of the Japanese currency, the yen, were named as the main reasons, according to the story which did not cite sources.

Toyota in early November drastically reduced its expectations for its current business year, which ends March 31.

Yokohama, Japan - Wayne Rooney came off the bench to score twice as Manchester United beat Gamba Osaka 5-3 Thursday in a highly entertaining semi-final of the World Club Championship in Yokohama.

Headed efforts from Nemanja Vidic and Cristiano Ronaldo gave United a comfortable two-goal cushion at the break before Masato Yamazaki pulled one back for Osaka.

However, the two strikes from Rooney, with an effort from Darren Fletcher sandwiched in-between, countered by a late penalty from Yashuhito Endo and a strike in added time from Hideo Hashimoto, ensured a comfortable win for Sir Alex Ferguson's side.

Tokyo - The defence ministers of Japan and Australia on Thursday signed an agreement on deepening diplomatic and security cooperation after talks between the foreign and defence ministers of both countries.

In the so-called "two-plus-two" meetings, Australia and Japan aim at transforming their relationship from a trade-oriented one to a comprehensive security partnership, officials said.

The new scheme foresees expanding joint military exercises and intensifying cooperation within United Nations missions, preventing nuclear proliferation and disaster prevention and relief.