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Takata booking over US$156m in additional loss for air bag recalls
[TOKYO] Japanese air bag maker Takata Corp said it is booking an additional special loss of 16.6 billion yen (S$209.6 million) for the full year that ended in March due to product warranty costs related to a recall of its potentially lethal air bags.
It said it also expects to book a loss of around 3.5 billion yen for the same year to settle product liability claims. The company is due to announce its official annual results on May 11.
Takata's faulty air bag inflators have been blamed for 11 deaths and more than 100 injuries, triggering a recall of more than 50 million air bags worldwide.