Summary: Toyota unveils worsened outlook, new steps

TOKYO (Reuters) - Toyota Motor Corp, the world's largest carmaker, slashed its guidance on Friday for the third time this financial year, blaming weaker-than-expected demand globally, and revealed new steps and hopes for next year.

Below are the main points it announced at a news conference on its third-quarter results:

EARNINGS OUTLOOK, PERFORMANCE

-- Can't say if losses will continue next financial year

-- Targets a turnaround next financial year on lower fixed costs and purchasing costs, while weak demand and the strong yen may remain negatives

-- Annual operating loss forecast revised to 450 billion yen ($4.95 billion) from 150 billion yen mainly due to 210 billion yen negative impact from weaker sales, currency impact neutral

SALES AND PRODUCTION

-- Sales environment in Japan, North America and Europe has worsened since December

-- Aims to turn around its sales and production in the year to March 2010 after aggressive inventory adjustments in the current quarter to March

-- Expects the U.S. market to start recovering late this year, helped by new government measures

-- Doubts its global sales next financial year will exceed estimated 7.32 million vehicles this year

-- Working 27 of its 74 global assembly lines on single shifts to trim its production capacity by one-sixth, at least until end of March, with 14 idle days in Japan in the quarter.

-- Not planning to close any plants

OTHER COST CUTS

-- Targets fixed cost reduction of 500 billion yen next financial year, including a drop in capital spending to or below 1 trillion yen, less than the estimated depreciation cost of about 1.1 trillion yen and down from 1.4 trillion yen this year

-- To review bonuses and other employment terms globally, and to consider adopting work-sharing overseas

-- Not considering forced staff reduction

($1=90.83 Yen)

(Reporting by Yumiko Nishitani; Editing by Michael Watson)