As everyone knows Takata is the Japanese car parts manufacturer and this company has filed the bankruptcy protection at Japan. At the same time United States after the faults in their airbags promoted in the biggest industry. Actually Takata is facing the huge cost and lawsuits larger than the airbag defect which is linked at least 16 deaths. In fact American car parts manufacturer KSS (Key safety systems) is owned by the China’s Ningbo Joyson Electronic which will take over the Takata. In fact Takata is sold its business and assets to the KSS and trading in the Takata share might be suspended at the opening stock market. Actually Takata is impacted by global airbag recall which is underlying its strength of exceptional steering wheels, skilled employee base, seat belts and geographical reach.
Things to know about the Japan’s airbag firm
In fact Takata shares the rose more than 40% and over the week traders might be made bets on it’s such as bankruptcy. Actually 100 million cars which includes 70 million in United States was subject into the airbag. The main cause of malfunctions might not been identified but 3 common factors are supposed such as ammonium nitrate, chemical component and responds poorly to the humidity. In fact filing the bankruptcy is offered Takata certain kinds of protection going forward and it create company affairs more transparent when allowing for the bailout. Actually in US, Takata is agreed in the January to implore guilty to wire the fraud to falsify testing reports and data.