Toyota Motor raised its full-year operating profit forecast by 9% on Wednesday, in a sign of confidence in its ability to ride out any potential U.S. tariffs.

Toyota Motor Corp. raised its annual operating profit outlook even though quarterly income fell short of estimates due to a downturn in global sales and production, indicating that it sees activity picking up at a faster pace later.

The automaker now expects a profit of ¥4.7 trillion ($31 billion) for the fiscal year ending March, up from its previous forecast of ¥4.3 trillion.