Japanese companies see net profit fall 12% as tariffs, strong yen bite

Trump tariffs

Auto and steel industries struggle in April-June quarter, while domestic demand resilient

U.S. President Donald Trump’s tariffs resulted in a $5.3 billion profit hit for Japan’s automakers in the April-June quarter. (Nikkei montage)

TOKYO — Net profit at Japan’s listed companies fell 12% on the year for the April-June period, the first decline for that quarter since 2022, as American tariffs and the strong yen led to sluggish performance in automobiles, steel and other manufacturing industries.