News Release
TAKATA CORPORATION TSE 7312
Notice regarding reduction of executive compensationDecember 24, 2014 -Takata Corporation is deeply saddened by the fatalities attributed to defective Takata airbags, and apologizes for the widespread concern and inconvenience caused to the driving public. The Company has also recorded special losses due to substantial provisions for product warranties, resulting in a significant net loss for the first half of the fiscal year ending March 31, 2015 and a decision not to declare an interim dividend. In consideration of the above matters, the Company has resolved to implement the following reductions in executive
compensation.
Position | Reduction in compensation | Period of reduction |
Chairman and President Shigehisa Takada | 50% | 4 months |
Director Stefan Stocker | 30% | 4 months |
Directors Yoshiyasu Kikuchi Noriyuki Kosugi Hiroshi Nishioka | 20% | 4 months |
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For further information, please contact: Investor Relations Office, Takata Corporation TEL +81 3 3582-9228www.takata.com
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