Takata Considers Selling Off Non Core Divisions To Pay For Recall Costs

Takata Corp. today said it was considering a drastic review of its inflator division and the sale of non-core businesses -- its first restructuring steps since becoming embroiled in a global recall crisis over potentially deadly airbags.

The announcement came as the supplier booked its third annual loss in four years on an increase in recall costs. It forecast a return to profit this financial year but said recall costs had not been factored in as the root cause of the defect has not been determined.

Takata's airbag inflators can inflate violently, releasing metal shrapnel into the vehicle and have been blamed for 11 deaths and more than 100 injuries, mainly in the United States.