Takata posts 79.6b yen loss
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