NEWS

Takata To Book $100 Mn Special Profit In Q2 From US Interiors Unit Sale

Thursday, Sep 29, 2016

Japanese auto safety parts supplier Takata Corp said on Thursday it expected to book a special profit of about 10 billion yen ($99 million) in the July-September quarter from the sale of US interiors unit Irvin Automotive Products Inc.

Takata is selling the unit to Detroit automotive supplier Piston Group. The deal is not directly related to the larger effort to secure a lifeline for Takata and its primary seat belt and air bag businesses.

Takata said in a statement it was currently calculating the impact on its full-year financial forecasts, adding it would announce any change as soon as it could.

($1 = 100.9500 yen).

 

Source : auto.economictimes.indiatimes.com

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