Takata says report of estimated air bag recall costs untrue

Takata Corp (7312.T) on Thursday denied that it had calculated the estimated costs of a global recall of its potentially faulty air bag parts, after a Bloomberg News report that it could face $24 billion in costs in a worst-case scenario.

"We have not announced anything to the effect of the report, and it is untrue that we have calculated the estimated costs (of the recall)," the Tokyo-based company said in a statement.

It added that given that investigations into the cause of its exploding airbag inflators were still underway, it was difficult to determine the recall costs at the moment.

Source: Reuters