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Takata Forecasts Record $235 Million Loss on Air-Bag Recall

Takata Corp., the Japanese maker of faulty air bags causing millions of recalled vehicles this year, forecast a record annual loss on the call backs.

The net loss will probably be 24 billion yen ($235 million), the Tokyo-based company said today in a statement. That compares with its previous forecast for 16 billion yen profit. It booked a 45 billion yen one-time charge in the first fiscal quarter on the recalls.