Toyota Motor Corp. reported a 7% year-on-year decline in net profit for the April–September period on Wednesday, as tariffs imposed during President Donald Trump’s administration weighed on Japanese automakers. Net profit for the six months totaled 1.77 trillion yen ($11.5 billion), down from 1.9 trillion yen a year earlier.

Despite the drop, the maker of Camry sedans and Lexus luxury vehicles raised its profit forecast for the full fiscal year ending March 2026 to 2.93 trillion yen ($19 billion), citing stronger vehicle sales and cost-cutting measures.