The Traderszone Network

Published in TZ Latest News 11 June, 2015 by The TZ Newswire Staff

Honda to restate earnings to reflect expanded air bag recalls

Honda Motor Co said on Friday it would restate its financial results for the last business year, to account for about $360 million in additional costs to pay for an expanded recall of cars equipped with air bag parts made by Takata Corp (7312.T). Japan’s third-largest automaker said in a statement it estimated additional spending of 44.8 billion yen ($363 million) after Takata, its top supplier of air bags, agreed to an expanded recall in the United States last month.

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