Takata expects to sink into loss, instead of post profit

May 9, 2016 9:40 AM

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TOKYO – Takata Corp. is expecting a loss instead of a profit for the fiscal year ended in March because of ballooning costs from a massive air-bag recall.

Tokyo-based Takata said Monday its annual net loss will total 13 billion yen ($120 million). The Japanese air-bag and seatbelt manufacturer had earlier projected a profit of 5 billion yen ($46 million). The company is scheduled to give its earnings report Wednesday.

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