June quarter and it lowered its full year earnings forecasts, largely because of President Donald Trump’s tariffs.

U.S. President Donald Trump's tariffs are cleaving Japan Inc, as some big exporters like Toyota Motor slash their profit forecasts while Sony and Honda are among those saying the impact will be less than they had feared.

Toyota’s results indicate that big Japanese automakers could emerge from US President Donald Trump’s tariffs regime in a strong position. The automakers have welcomed the reduction in tariff rate but have been pushing for greater certainty on when the lower rate will come into effect.