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Takata to Book $306 Million Loss on Airbag Recalls

Japan’s Takata Corp. says it will record an extraordinary loss of 30 billion yen ($306 million) in the current fiscal year for warranty expenses.The costs are related to a global recall of 3.4 million vehicles by at least four automakers to fix a defective Takata-made airbag component.

Japan’s Takata Corp. says it will record an extraordinary loss of 30 billion yen ($306 million) in the current fiscal year for warranty expenses.

The costs are related to a global recall of 3.4 million vehicles by at least four automakers to fix a defective Takata-made airbag component. The propellant in some airbag inflators can generate excessive pressure when ignited, potentially spraying metal fragments into the windshield or passenger footwell.