Japan's Takata Corp., struggling supplier of automotive parts, said on Thursday that it will record a one-off loss of ¥96.9 billion ($863 million) in relation to last month's agreement with the United States Department of Justice. The scandal with the company's faulty airbags rocked its foundations and the management pleaded guilty to criminal wire fraud. The settlement will cost the industrial giant $1 billion, as investigators linked it to almost a dozen deaths in the country. Takata provided the remainder earlier.
The manufacturer said the provisions will be included in the balance for the previous three quarters. It added recalls related to faulty airbags will cost it a total of ¥10.6 billion, where most of the sum was accounted for in the first six months of the current fiscal year.
Image: EPA/JEFF KOWALSKY
