Honda Motor reported a 50% drop in first-quarter operating profit on Wednesday, as a stronger yen and the impact of U.S. President Donald Trump's tariffs took its toll, but the company raised its full-year forecast.

First-quarter profit halved from a year earlier due in part to the U.S. levies, though the automaker raised its annual earnings forecasts, citing a smaller-than-feared tariff hit.

Japanese automaker Honda Motor Company reported a 1.2% drop in global revenues to JPY 5,340.3 billion in the first quarter of the current fiscal year (FY25), between April and June 2025. The company’s operating profit plunged by almost 50% to JPY 244.