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 reported a steep decline in first-quarter operating profit on Wednesday, as the impact of new US auto tariffs and a stronger yen weighed on performance. Operating income fell by about 50% year over year to ¥244.

TOKYO -- Japanese automaker Honda Motor on Wednesday reported a net profit of 196.6 billion yen ($1.3 billion) for the April-June fiscal first quarter, down 50% from the same period last year, hit by the additional 25% tariffs on imported cars imposed by U.S. President Donald Trump in April.