Toyota profits fall for a second consecutive quarter, missing estimates, as U.S. tariffs hit exports

Core Insights - Toyota Motor reported a nearly 28% year-on-year drop in operating profit for the quarter ended September, despite an over 8% increase in revenue [1][2] - The decline in profit marks the second consecutive quarter of falling profits due to U.S. tariffs, although a recent trade deal reduced tariffs on Japanese exports to the U.S. from 25% to 15% [2] - Japanese automobile exports to the U.S. experienced a significant decline, with a 24.2% drop in September, slightly better than the 28.4% drop in August [3] Financial Performance - Revenue for the quarter was reported at 12.38 trillion yen (approximately $81 billion), compared to 12.18 trillion yen in the previous year [4] - Operating profit was recorded at 834 billion yen, down from 863.1 billion yen [4] Sales Performance - Despite the challenges posed by tariffs, Toyota's vehicle sales, including its luxury brand Lexus, reached 5.3 million units from April to September, reflecting a 4.7% year-on-year increase [3]