Mexican Media Brands
Honda Adds $363 Million Charge for Takata Airbag Recalls
Honda Motor Co. is restating its financial results for the fiscal year ended March 31 to include an additional 44.8 billion yen ($363 million) in costs related to recalls of vehicles equipped with Takata Corp. airbag inflators that could explode.
#economics
Share
Honda Motor Co. is restating its financial results for the fiscal year ended March 31 to include an additional 44.8 billion yen ($363 million) in costs related to recalls of vehicles equipped with Takata Corp. airbag inflators that could explode.
Honda said in April its operating profit in fiscal 2014-2015 dropped 13% to 652 billion yen ($5.3 billion). The company expects to report updated earning figures for the period later this month.
Honda is attaching the additional cost to its previous fiscal year, even though Takata didn't expand its list of potentially dangerous inflators until May. The company cites U.S. accounting rules it says would consider the charges something Honda should have anticipated.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .