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Takata Headed for Bankruptcy
Takata Headed for Bankruptcy

Takata Headed for Bankruptcy

Takata Headed for Bankruptcy

The Tokyo Stock Exchange suspends trading in Takata shares as reports circulate that the beleaguered airbag manufacturer is planning to file for bankruptcy in Japan and America as early as next week, DW reported. Takata Corp, the 84-year-old Japanese company facing billions in liabilities stemming from its defective airbag inflators, is preparing to file for bankruptcy as early as next week sources said. Trading in Takata shares was suspended on the news; at its previous close, the company had a market value of $360 million. Takata is one of the world’s biggest automotive suppliers and has been working for months to complete a deal with Michigan-based Key Safety Systems, which is owned by Chinese supplier Ningbo Joyson.

 

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