Takata making no more provisions for recalls

Seeks instalment payments of warranty costs

Takata has said it will not make any more provisions with regards to the massive recalls related to faulty airbag inflators that may explode with excessive force. A Reuters report says that Takata chief financial officer (CFO) Yoichiro Nomura announced the decision to analysts in a meeting that was closed to media. The executive is reported to have justified the step by saying that the defect cited by automakers was not "officially recognised" and thus there was no reason to set aside more cash.