Japanese car parts manufacturing firm Takata in Tokyo continue to recall defective airbags that were released to millions of automobiles the earlier years.
The car components supplier was entangled in a crisis due to defective airbags that were used in millions of cars from different car makers the previous years.
The recall has been costing the company continued loss and has recently added $50 million to its loss forecast for its fiscal year. The company has been increasing expenditures to replace the faulty components from millions of affected cars, New York Times reported.
The car parts manufacturer claimed to have paid off around $30 million in extra charges for vehicle recalls and replace the deadly airbags which have killed 6 in the United States from its biggest customer car manufacturer Honda. The recall count reached around 25 million already all over the world since 2008, according to BBC.
Takata is expecting a loss of around 31 billion yen, $264 million, this business year that ends in March. The Japanese firm has foreseen and estimated the loss to reach about 25 billion yen this year. Since the company's revenue problems, the scale of safety issues have grown to include 18 million cars in the United States alone, and seven more million automobiles under Honda all over the world.
The company has not disclosed any other information regarding the efforts to address the airbag problems. They did not hold briefing conferences with reporters and have made sure that the higher ranking executives of the company out of media's sight. Stefan Stocker, Takata's Swiss President was replaced by Shigehisa Takada, grandson of Takata's founder, since the dilemma.
A group of automobile manufacturers headed by Toyota is organizing an industrywide investigation regarding this matter. Takata is under investigation in the United States as of present time.