Losses from potentially defective air bags mean Japanese firm<br />Takata is warning of even bigger than expected full-year losses. <br /><br />Revealing that Takata’s bosses bowed in apology to customers on Thursday over the recall of 17 million vehicles worldwide.<br /><br />The recalls were needed because faulty inflators in the air bags can explode with excessive force firing metal shards at occupants. <br /><br />The company has 22 percent of the global market for air bag inflators – the explosive device that allows the air bag to inflate in a fraction of a second in the event of a crash.<br /><br />The problem has been linked to four deaths in the United States. <br /><br />Amid uncertainty over potential future recalls and the likely cost of a growing number of legal cases Takata’s shares have almost halved in value since January.<br /><br />Its full-year net loss is now forecast at 25 billion yen (174 million euros). <br /><br />Takata has already set aside 75 billion yen (523 million euros), which it believes is enough to pay for the recall of up to nine million cars. <br /><br />It has not put aside funds to cover potential US class action lawsuits against it.<br /><br />with Reuters
