Toyota posts record Q1 net profit

Tokyo: Japanese car giant Toyota on Friday posted a record first-quarter net profit but warned that threatened US sanctions on the auto sector could have a "very big" impact on earnings.

The firm added that ongoing trade frictions between the US and China, as well as Washington´s tariffs on metal imports, would also eat into its bottom line.

US President Donald Trump has unsettled rivals and allies alike with harsh trade rhetoric and a raft of tariffs that have affected sectors ranging from agriculture to auto. Toyota said strong sales in the US and Asia, helped boost profits 7.2 percent to 657.3 billion yen ($5.9 billion) in April-June, its highest-ever first-quarter result. Operating profit jumped 18.9 percent to 682.7 billion yen, with sales up 4.5 percent at 7.4 trillion yen.