Takata has sunk into the red as the costs of massive global airbag recalls accumulate.
Takata has posted a net loss of 29.6 billion yen in the fiscal year to the end of March.
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Some 20m vehicles have been recalled worldwide because of the risk that faulty Takata airbags could cause harm to vehicle occupants.
However, Takata also said that it expects to post a 20 billion yen net profit in the current business year.
“At this point it is difficult to rationally estimate (the) financial impact of the lawsuits,” the company said in a statement.
Despite the negative impact of airbag recalls, Takata also said it booked a 25% surge in operating profit and 15% jump in revenue.
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By GlobalDataAnalysts say the company’s financial position is also helped by deep cash reserves.
