Takata Said to Ask to Pay Costs of Recalls by Installment

Takata Corp. asked automakers to let the company pay costs related to its recalled air bags by installment and is meeting with bankers almost every day to ensure it has enough cash flow, according to an analyst who attended a company briefing.

The carmakers are close to agreeing to the installment proposal, which will allow the company to avoid paying large sums of money at one time, Takata Chief Financial Officer Yoichiro Nomura told analysts Thursday in Tokyo, according to the person. As of the fiscal year ended March, Takata hasn’t breached conditions that would allow its banks to call back loans, Nomura said, according to the person, who asked not to be named as the meeting wasn’t open to the media.