Tokyo - Tokyo stocks opened lower Friday following the release of Toyota Motor Corp's downward earnings forecast for the current year the day before.

The Nikkei 225 Stock Average dropped 127.58 points, or 0.91 per cent, to 13,815.68.

The broader Topix index of all first-section issues was also down 14.35 points, or 1.05 per cent, at 1,358.6.

The top Japanese automaker expected its sales and operating profit for the current year through March 2009 to make the first fall in nine years due to a stronger yen and an increase in raw material costs.

For fiscal 2007, however, Toyota's earnings were record high.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 103.84-89 yen, up from Thursday's 5 pm quote of 103.79-82 yen.

The euro was quoted at 1.5404-09 dollars, up from Thursday's 5 pm quote of 1.5332-35 dollars, and at 159.99-160.04 yen, up from 159.16-20 yen. (dpa)