Toyota Motor Corp. reported April–June operating income of ¥1.177 trillion, beating analyst expectations but falling 11 % from a year earlier as new U.S. tariffs on imported vehicles and a stronger yen squeezed margins. Net profit slid 37 % to ¥841.3 billion, even as revenue grew 3.5 %, reflecting higher sales in North America and Japan. The world’s largest carmaker cut its full-year operating-profit forecast by 16 % to ¥3.2 trillion and lowered its net-profit outlook to ¥2.66 trillion. Toyota said it now anticipates the U.S. import levies imposed in April will slash earnings by ¥1.4 trillion (about $9.5 billion) over the fiscal year, up sharply from an earlier estimate of ¥180 billion covering just April and May. The company took a ¥450 billion tariff charge in the first quarter alone, turning its North American business unit to a loss. While Toyota maintained its projection for record global vehicle sales of 11.2 million units this year, executives warned that currency volatility and trade policy uncertainty make forecasting difficult. Shares fell roughly 1.6 % in Tokyo after the results, trimming earlier losses.