Takata Surges After Reiterating It Wants to Avoid Bankruptcy
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Reports of court-led rehabilitation ‘regrettable,’ it says
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Takata Corp. surged in Tokyo trading after the air-bag maker reiterated it wants to avoid a court-led bankruptcy that could disrupt the supply of parts needed to complete the biggest safety recall in automotive history.
The Tokyo-based manufacturer, whose faulty products are linked to at least 17 deaths worldwide and the subject of recalls that may exceed 100 million units, climbed as much 18 percent and traded at 519 yen as of 10:01 a.m. The company said reports that assume it was moving toward a court-led rehabilitation were “regrettable” and causing confusion. The company is deciding on a direction that takes into account all stakeholders and discussions are ongoing, it said in a statement Tuesday…
Takata Surges After Reiterating It Wants to Avoid Bankruptcy
