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.

Honda's first-quarter operating profit fell 50%, missing estimates due to U.S. auto tariffs and a stronger yen.

First-quarter profit halved from a year earlier due in part to the U.S. levies, though the automaker raised its annual earnings forecasts, citing a smaller-than-feared tariff hit.