Takata posts quar­terly profit gain

The Pak Banker - - COMPANIES/BOSS -

Takata Corp., the air-bag sup­plier at the cen­ter of a global con­sumer safety cri­sis, re­ported quar­terly profit rose from a year ear­lier, as it seeks to con­vince au­tomak­ers in­clud­ing Honda Mo­tor Co. to con­tinue to sup­port it through ex­pand­ing re­calls.

Net in­come climbed to 8.1 bil­lion yen ($69 mil­lion) in the quar­ter through De­cem­ber from 2.8 bil­lion yen a year ear­lier, on the back of higher sales in the U.S. and Asia, Takata said Fri­day. Rev­enue for the quar­ter climbed to 184.1 bil­lion yen from 167.9 bil­lion yen.

The re­sults come as Honda, its largest cus­tomer, said it will re­call an­other 5.7 mil­lion ve­hi­cles glob­ally to fix faulty air bags that have been linked to 11 deaths and prompted more than 20 mil­lion re­calls in the U.S. alone. The safety devices have been found in some cases to ex­plode with too much force, rup­tur­ing and shoot­ing metal and plas­tic parts at ve­hi­cle oc­cu­pants.

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