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Takata Expects a Profit in Current Fiscal Year
Airbag supplier Takata Corp. predicts a net profit of 20 billion yen ($167 million) for the full fiscal year that began April 1.
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Airbag supplier Takata Corp. predicts a net profit of 20 billion yen ($167 million) for the full fiscal year that began April 1.
The company's forecast assumes 7 billion yen ($58 million) in legal and consulting fees related to the recall of millions of vehicles equipped with Takata airbag inflators that could explode. The estimate doesn't include recall costs or the price of lawsuits related to six fatalities and hundreds of injuries related to the defective devices.
Takata predicts its sales in the current fiscal year will grow 9% to 700 billion yen ($5.8 billion). Last year the company posted a 30 billion-yen ($250 million) loss caused by a special charge of 58 billion yen ($490 million) to cover recall costs to date.
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