Takata is being slowly decimated by exploding airbag recall
REUTERS/Toru Hanai
According to Bloomberg's Ma Jie and Masatsugu Horie:
The net loss will probably be 31 billion yen ($264 million) in the year ending March, the Tokyo-based company said today. In November, Takata had widened its loss forecast to 25 billion yen and said that it's difficult to estimate the amount of damage claims it has received in the U.S.
Takata lost roughly four times as much money in 2014 as it did in 2013, due largely to the massive recall, which has impacted millions of autos sold over more than a decade.
However, as Jie and Horie note, Takata is still booking operating profits - up 9% in the company's most recent fiscal year - as demand for replacement airbag components rises in the US, an inevitable consequence of such as massive recall.
- A teenager accidentally hits the accelerator pedal, and a five-year-old boy loses his life in a tragic incident in Bengaluru
- Amid growing political uncertainty in Pakistan, IMF expresses concern over its financial stability
- OPINION: Balancing act or pure jugglery — navigating professional challenges as a working mother
- OPINION: Ecofeminism — a diversified perspective on Mother’s Day
- Inflation data, Q4 earnings, global trends to drive stock markets this week: Analysts
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market