Takata Corporation, a Japan-based manufacturer of Air bags and other car accessories, has been part of the recent news explosives all over the world because of its defective products that are now installed in some of the major car brand distributors. A lot of serious instances of exploding airbags were recently reported to cars with Takata products. This is one of the reasons as to why they are now losing a big amount of money due to recalls of these affected cars.
As per Yoichiro Nomura, Takata’s executive VP, the company wanted to apologize for all the concerns and worries their products brought to its loyal consumers. The executive also mentioned that they were now having a hard strategic plan of having recalls on cars that are affected to do something about it.
They were able to keep enough amount of money for the recent and future recall of cars affected, as well as some other concerns that arose because of these incidents. They were able to present some reports for the net loss of the company having Takata fully liable for the product defects. But aside from the company, there were no reports of cancellation yet for the 3rd and 4th quarter of this year.