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Takata Posts Quarterly Profit
Beleaguered airbag supplier Takata Corp. says strong sales in the U.S., India and southeast Asia helped deliver a net profit of 3.1 billion yen ($25 million) in its fiscal first quarter ended June 30.
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Beleaguered airbag supplier Takata Corp. says strong sales in the U.S., India and southeast Asia helped deliver a net profit of 3.1 billion yen ($25 million) in its fiscal first quarter ended June 30. Last year the company lost 39 billion yen in the same period.
First-quarter operating profit jumped 35% to 10.3 billion yen ($83 million). The increase prompted Takata to raise its full-year guidance to 40 billion yen from the previous 34 billion yen. But the company left its full-year net profit forecast unchanged at 20 billion yen ($160 billion).
About 40 million potentially defective Takata airbag inflators have been recalled by 11 car and truck manufacturers since 2008. The devices, which can explode when activated in a crash, have been blamed for eight fatalities and more than 100 injuries.
The exact cause of the misfires remains unclear. Takata reiterates that it can't estimate the eventual cost of recalls involving its inflators.
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