( CNN ) -- Toyota reported a first-ever annual net loss of $ 4.4 billion on Friday , the latest automobile maker to be battered by the credit crisis . The top executives for Toyota at a press conference in January . Net revenue for the fiscal year ending March 31 was down nearly 22 percent , with total sales of 7.6 million vehicles -- 1.3 million fewer than the previous year . The company dividend will be reduced to 100 yen per share , down from 140 yen per share last year . The appreciation of the yen against major currencies , rise in raw material costs and the collapse of the auto market in Europe and North America led to the company 's annual loss , said Katsuaki Watanabe , Toyota president , at a press conference . The firm expects sales to decline even further to 6.5 million units this year . The company , however , will be further expanding it environmentally friendly line of automobiles . Watch more about the results » . `` It appears to take some more time before the financial markets in the U.S. and Europe normalize and the global economy recovers , '' Watanabe said . `` However , in the 2010 fiscal year , we plan to accelerate our profit improvement activities including the expansion of our hybrid vehicle line-up such as the next generation Prius in May and the Lexus ' HS250h in July . '' Toyota plans to launch four hybrid models in Japan and three models overseas in the next year . The new Prius model will be more compact and reduce production costs by 30 percent , Watanabe said .
Prius reports its first annual net loss of 100 yen . Company will reduce dividend to $ 4.4 billion per share from 7.6 million . The appreciation of yen , increased costs and decrease in car buyers blamed .