Takata posts 79.6b yen loss

New Straits Times - - Business / World -

TOKYO: Takata Corp re­ported a full-year net loss of 79.6 bil­lion yen (RM3.03 bil­lion) — its third con­sec­u­tive an­nual loss.

The firm faces bank­ruptcy over costs re­lated to the re­call of its po­ten­tially deadly airbag in­fla­tors. Even as it faces the car in­dus­try’s big­gest-ever re­call, Takata fore­cast a net profit of five bil­lion yen in the year to March.

The firm is seek­ing a fi­nan­cial spon­sor to help pay for the re­call­re­lated li­a­bil­i­ties.

United States car com­po­nents maker Key Safety Sys­tems and Bain Cap­i­tal are try­ing to strike a res­cue deal worth around 200 bil­lion yen with Takata’s steer­ing com­mit­tee. Reuters

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