Japanese air bag maker Takata has booked nearly $30 million in extra charges for vehicle recalls in order to replace potentially deadly air bag inflators, along with other costs, tipping it toward a larger annual loss than previously predicted.
Takata reported a nine-month net loss of 32.5 billion yen ($277 million) due to a long-running worldwide recall crisis. The company now expects its full-year net loss to reach 31 billion yen, which is higher than the 25 billion yen it had predicted previously and falls in line with most analysts' expectations.
Air bag inflators made by the Tokyo-based company have been found to explode when too much force is applied, spraying metal fragment inside vehicles and forcing automakers to call back almost 25 million vehicles around the globe since 2008.
The component has also been linked to six deaths, all on vehicles made from Honda, according to Reuters.
Takata booked a special loss of 53.1 billion yen to cover recalls and other quality-related costs during the nine months through December. The company had already booked a special loss of 49.9 billion yen for its fiscal first half ended in September 2014.
Takata published its results and forecast in a statement without holding a briefing for the press.
Founding member and Takata top executive, Shigehisa Takada, hasn't made a public appearance since Takata's shareholders' meeting in June.
Automakers are paying most of the cost for "investigative" recalls, paying for Takata replacement parts fat least until an official reason is identified as the responsibility of the supplier, according to Reuters.
Takata said on Thursday that it couldn't estimate the possible cost from such investigative recalls, without figuring out the exact cause of the defect. The company added that it is "difficult" to estimate fines and penalties it could face in the U.S.
Takata is also subject to a number of different class action lawsuits, a criminal investigation and a probe from the U.S. auto safety regulator.
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