Honda Accord Airbag Recall Crushes Takata Shares
Posted on July 31, 2009
Filed Under Honda Accord News
Takata Corp. shares fell the most in almost three weeks in Tokyo trading after Honda Motor Co. recalled Honda Accord and Civics because of defects in air bags made by the Japanese auto-parts maker.
The shares fell 5.9 percent to close at 1,599 yen on the Tokyo Stock Exchange, the most since July 13. The stock fell as much as 8.5 percent following the recall announcement yesterday.
Takata spokesman Kimio Kobori said the Tokyo-based company supplied the air bags for 2001 Honda Civics and Honda Accords. About 285,000 units of the models have been recalled in the U.S., Honda spokeswoman Yasuko Matsuura said.
- 2002 Honda Accord models have also now been recalled.
As previously reported, the airbag defect resulted in one death in the U.S., Japan’s transport ministry said yesterday.
Takata, the world’s biggest maker of auto safety equipment, said the air bags it supplies to other carmakers are manufactured differently and do not suffer from the same problem.
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