Takata eyes 13 B yen net loss for FY 2015 due to recall-linked costs

May 10, 2016 5:25 am 

TOKYO, May 9 — Takata Corp. on Monday cut its earnings outlook for fiscal 2015, projecting a group net loss of 13 billion yen (USD 120 million) due to costs related to recalls of its air bag inflators.

That compares with Takata's earlier estimate made in November of 5 billion yen in group net profit. It will be the second straight year of red ink for the Japanese auto parts maker that reported a record group net loss of 29.56 billion yen in fiscal 2014.

Takata is scheduled to release its earnings results for the year through March 31 on Wednesday. (PNA/Kyodo)

RMA/SSC

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