August 05, 2016 8:45 a.m.
Updated
By Ma Jie and Masatsugu Horie
Bloomberg
Takata Corp., the airbag maker behind the biggest automotive recall, said quarterly profit plunged by a third as the supplier drafted restructuring plans in the face of billions of dollars in potential costs related to its defective safety products.
Net income fell to 2.07 billion yen ($20.5 million) in the quarter ended in June, from 3.1 billion yen a year earlier, Takata said in a statement Friday. The company booked a 3.5 billion yen charge in…
Read the full article at: http://www.crainsdetroit.com/article/20160805/NEWS01/160809896/takata-profit-drops-33-as-airbag-maker-plans-restructuring