Annual net loss expected to top $90m over impairments in US and elsewhere
According to a new article from asia.nikkei.com, Akebono will post losses of 10 billion yen, roughly 90 million dollars.
The deeply troubled U.S. arm of the business accounts for a large percentage of the loss, but losses occurred in Thailand and Slovakia as well.
“Akebono Brake has struggled to regain momentum since booking net losses for fiscal 2014 and fiscal 2015, a result of higher labor costs due to a surge in U.S. orders. The turmoil cost the company contracts on newer models by key clients like General Motors.”
See more recent Akebono news here.