Takata to book $100 million special profit in second quarter from U.S. interiors unit sale

September 28, 2016 7:57 PM EDT

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

TOKYO (Reuters) - Japanese auto safety parts supplier Takata Corp <7312.T> said on Thursday it expected to book a special profit of about 10 billion yen ($99 million) in the July-September quarter from the sale of U.S. interiors unit Irvin Automotive Products Inc.

Takata is selling the unit to Detroit automotive supplier Piston Group. The deal is not directly related to the larger effort to secure a lifeline for Takata and its primary seat belt and air bag businesses.

Takata said in a statement it was currently calculating the impact on its full-year financial forecasts, adding it would announce any change as soon as it could.

(Reporting by Chang-Ran Kim; Editing by Joseph Radford)

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment