Japan's largest corporations, including Mizuho, Sony and Toyota, risk losing up to 4 trillion yen (about 27.6 billion USD) due to the introduction of new tariffs by the United States, the Financial Times reported, citing company data.
According to the publication, the total losses could increase amid the continued high uncertainty over Washington's future tariff policy.
The auto industry, a key sector of Japanese exports, has proven particularly vulnerable. Japan will ship 1.5 million vehicles worth more than 40 billion USD to the United States in 2023. “The impact of the tariff policy is huge“, said Honda CEO Toshihiro Mibe. The company estimates that the additional costs could reach 650 billion yen (approximately 4.5 billion USD). In this regard, Honda is reviewing its investment plans until 2030, reducing them from 10 trillion to 7 trillion yen (approximately 48.7 billion USD).
It was previously reported that the combined losses of the seven largest automakers in Japan in the fiscal year 2025 (ending March 31, 2026) due to the new US tariffs could reach at least 2.7 trillion yen (about 18.5 billion USD). Toyota will suffer the most, with losses potentially exceeding 1 trillion yen (over 6.8 billion USD). In April and May alone, the company lost about 180 billion yen (more than 1.2 billion USD) due to the restrictions.
On April 2, US President Donald Trump announced the introduction of new increased tariffs on goods coming from 185 countries and territories. Universal tariffs of 10% came into effect on April 5, and individual rates for individual countries came into effect on April 9. In particular, an additional tariff of 24% was imposed on Japan. At the same time, the United States provided a 90-day grace period for the implementation of the new tariffs in order to conduct negotiations. In addition, Washington has already imposed a 25% tariff on imports of cars, auto parts and components.
Tokyo is urging Washington to reconsider its customs policy - consultations are underway between the two countries on the issue of all tariff increases, including for cars, steel and aluminum. Japan expects these tariffs to be eliminated or significantly reduced.