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Takata won't set aside more cash reserves for recalls-CFO to analysts
May 14, 2015 / 8:02 AM / 2 years ago

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

TOKYO/BEIJING, May 14 (Reuters) - Takata Corp 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 and Daihatsu Motor Co 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 and Nissan Motor Co said they were taking back 6.5 million vehicles. (Reporting by Norihiko Shirouzu and Maki Shiraki; Writing by Chang-Ran Kim; Editing by Miral Fahmy)

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