Japan's Takata swings to Q1 net profit on higher US sales

[TOKYO] Japan's Takata Corp, whose air bag inflators are at the centre of a global safety recall, on Thursday said it swung to a net profit in the first quarter due to higher sales in the United States, India and Southeast Asia.

Net profit reached 3 billion yen (US$24.05 million) in April-June, compared with the 38.65 billion yen loss of the same period a year earlier.

Takata maintained its net profit forecast for the fiscal year through March at 20 billion yen.

REUTERS