In this July 6, 2016 photo, the logo of Takata Corp. is seen at an auto-supply shop in Tokyo. Takata Corp., the Japanese company at the center of a massive global air bag recall, is sticking to its forecast of posting a 13 billion yen ($129 million) profit for the fiscal year through March. It reported on Friday, Aug. 5, 2016, an April-June profit of 2 billion yen ($19.8 million), down 33 percent from the same period the previous year, as quarterly sales slipped 7 percent to 169 billion yen ($1.7 billion). (AP Photo/Shizuo Kambayashi) (The Associated Press)
TOKYO – Takata Corp., the Japanese company at the center of a massive global air bag recall, is sticking to its forecast of posting a 13 billion yen ($129 million) profit for the fiscal year through March.
It reported an April-June profit of 2 billion yen ($19.8 million), down 33 percent from the same period the previous year as quarterly sales slipped 7 percent to 169 billion yen ($1.7 billion).
Tokyo-based Takata, which had two straight years of losses over the recalls, has said it will return to the black this fiscal year, although some analysts note that recall costs now being shouldered by automakers will be billed to Takata.
Takata also faces class-action lawsuits over its defective air-bag inflators that can explode with too much force, sending shrapnel spewing.
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