TOKYO: Takata Corp, the air bag maker behind the biggest automotive recall, said quarterly profit plunged by one-third as the supplier drafted restructuring plans in the face of billions of dollars in potential costs related to its defective safety products. Net income fell to ￥2.07 billion (US$20.5 million) in the quarter ended in June, from ￥3.1 billion a year earlier, Takata said yesterday. The company booked a ￥3.5 billion charge in the period related to air bag lawsuits. Takata reiterated its belief there is no material uncertainty about its ability to continue as a going concern, saying it cannot estimate the costs of responding to its air bag woes.
Imported phones taxed at 54%, locally assembled devices at 25%, NA committee told
ISLAMABAD: The National Assembly Standing Committee on Finance has raised concerns over the high tax burden on mobile phones and...
