The US Department for Transportation welcomed the airbag recall. A spokesman said: "Today is a major step forward for public safety. The department…is taking the proactive steps necessary to ensure that defective inflators are replaced with safe ones as quickly as possible, and that the highest risks are addressed first." Meanwhile, Takata CEO Shigehisa Takada said: "We are pleased to have reached this agreement…which represents a clear path forward." The company will obviously take a huge financial hit. The recall will cost the company and its customers up to $5 billion. Despite this, Mr Takada said he expects the company will still be able to make a profit this year.