The Traderszone Network

Published in TZ Latest News 5 February, 2015 by The TZ Newswire Staff

Takata adds nearly $30 million to special loss to cover air bag recalls, cuts outlook

Japanese air bag maker Takata Corp (7312.T) booked nearly $30 million in extra charges for vehicle recalls to replace potentially deadly air bag inflators, as well as other costs, tipping it toward a bigger annual loss than previously forecast. On top of the repeated recalls, Takata is also subject to multiple class action lawsuits, a probe from the U.S. auto safety regulator and a criminal investigation.