Investing.com UK - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did 😎Read how

Takata won't set aside more cash reserves for recalls - CFO to analysts

Published 14/05/2015, 09:09
© Reuters. A logo of Takata Corp is seen with its display at a showroom for vehicles in Tokyo

TOKYO/BEIJING (Reuters) - Takata Corp (T:7312) will not set aside more cash to pay for an expanding car recall linked to its air bag inflators because the defect cited by automakers was not "officially recognised", analysts quoted its chief financial officer as saying.

Takata CFO Yoichiro Nomura was speaking to analysts on Thursday at a company briefing that was closed to the media, but two analysts told Reuters that the executive said he saw no reason to set aside more cash.

Earlier, Honda Motor Co (T:7267) and Daihatsu Motor Co (T:7262) said they would recall more than 5 million cars to replace potentially fatal air bag inflators made by Takata, a day after Toyota Motor Corp (T:7203) and Nissan Motor Co (T:7201) said they were taking back 6.5 million vehicles.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.