Airbag maker Takata Corporation has booked an ‘extraordinary loss’ of JPY53.1bn in the thrid quarter, related mostly to costs associated with ongoing inflator recalls affecting 25m vehicles worldwide.
This led to a net loss of JPY32.4bn compared with a JPY8.8bn profit the previous year. Sales rose 15.6% to JPY469.8bn, however, and operating profit was up 8.9% to JPY23.3bn.
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Airbags worth JPY179.6bn (up 18.7%) accounted for 38.2% of Takata’s third fiscal quarter sales with seatbelts up 17.7% to JPY151.8bn and accounting for 32% of sales.
Takata has steadily revised upwards sales and profit forecasts this fiscal year and, after nine months, expects sales of JPY 620bn (up another 3.3%), JPY28bn operating income (up 1.6%) and a net loss of JPY31bn.
The supplier earlier booked a special loss of JPY49.9bn in the fiscal first half ended 30 September, 2014.
Reuters noted that Takata published its results and forecast in a statement without holding a press briefing.
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By GlobalDataThe company’s top executive, founding family member Shigehisa Takada, has not made a public appearance since Takata’s annual shareholders’ meeting last June.
Long-time customer Honda was reported recently to have defected to other airbag suppliers for three key new models sold primarily in North America. Neither supplier nor automaker would comment on the report at the time.
