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Tokyo: Stocks drop as Takata sinks on report of huge recall cost

Wednesday, March 30, 2016 - 14:23

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[TOKYO] Tokyo stocks closed lower Wednesday as Takata shares dropped more than 19 per cent following a news report that the embattled Japanese airbag supplier's recall-related costs could be as high as US$24 billion.

The benchmark Nikkei 225 index slipped 1.31 per cent, or 224.57 points, to 16,878.96, extending the previous day's 0.18 per cent slide. The broader Topix index of all first-section shares fell 1.55 per cent, or 21.31 points, to 1,356.29.

AFP

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