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Japan's Takata books third straight annual loss

Air bag maker's red ink spreads on fines, factory equipment write-downs

TOKYO -- Takata, still reeling from a massive air bag scandal, logged a third straight year of red ink in the 12 months through March, the company said Wednesday.

The Tokyo-based manufacturer's net loss swelled to 79.5 billion yen ($695 million) from 13 billion yen in the prior fiscal year. U.S. Department of Justice fines and impairment charges in its air bag business were the major factors.

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