Business Insurance

Login  |  Register Subscribe

cbVid =

Japan's Takata forecasts record annual loss on airbag recalls

August 8, 2014 - 6:00am

Japan-based auto-parts maker Takata Corp. is expecting a net loss of 24 billion Japanese yen ($235 million) due to the recall of millions of vehicles in 2014 over faulty air bags, Bloomberg reported.

Nissan Motor Co. Ltd. and Honda Motor Co. Ltd., which recalled around 3 million vehicles worldwide in July, are considering recouping their expenses from Takata. Honda executive vice president Tetsuo Iwamura said the automaker is evaluating whether to continue using Takata air bags.

Read more


Get our daily Global Focus newsletter

You may also want to visit

International Content