TOKYO — A year ago, Toyota Motor Corp. reported the highest annual profit ever recorded by a Japanese firm.

On Thursday, Toyota presented a significantly more somber outlook, projecting that its operating profit would decline by about one-fifth for the fiscal year ending in March. It cited headwinds from a stronger yen and predicted a $1.3 billion hit from President Donald Trump’s tariffs in April and May.

The company estimated the effect of the auto tariffs, which started in April, only for those two months. Beyond that, their impact is “very difficult to forecast,” Toyota CEO Koji Sato said Thursday.

“The current environment surrounding the auto industry, including trade relations, is in extreme flux,” he said. — The New York Times