Takata's annual loss to widen over more faulty air bag recalls, special loss grows

MarketsAssociated Press

Takata Corp., the Japanese air bag maker embroiled in a massive recall totaling some 12 million vehicles globally, says it's taking more special losses for new recalls and will sink deeper into the red for the fiscal year.

Takata said Thursday it will record a 25 billion yen ($218 million) loss for the fiscal year through March 2015. It previously forecast a 24 million yen ($210 million) forecast.

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Takata air bags are suspected in fatalities and injuries involving several defects, including a faulty inflator suspected of exploding and hurling shrapnel toward drivers and passengers.

The U.S. National Highway Traffic Safety Administration is investigating.

Eight million of the recalls are in the U.S., including vehicles made by Honda Motor Co., Toyota Motor Corp., General Motors Co. and other automakers.