TOKYO Feb 10 Japanese air bag maker Takata Corp
on Friday said it was expecting a full-year loss as the
company anticipates costs related to a massive global product
recall will eat away at its bottom line.
Takata expects to post a net loss of 64.0 billion yen
($562.74 million) for the year to March compared with a previous
forecast for a net profit of 20.0 billion yen.
A net loss for the year would be the company's third loss in
as many years, and would follow a net loss of 21.1 billion yen
Takata, facing billions of dollars in additional
recall-related costs, has been looking for a sponsor to lead its
restructuring. People familiar with the matter have told Reuters
that Key Safety Systems has been selected as a final bidder for
a restructuring deal.
($1 = 113.7300 yen)
(Reporting by Naomi Tajitsu; Editing by Christopher Cushing)