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.

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.

Honda Motor Co. raised its annual profit forecast even as its quarterly figure took a hit from President Donald Trump’s tariffs on cars and car parts imported to the US.