Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection<br />By JONATHAN SOBLEJUNE 25, 2017<br />TOKYO — Takata, the Japanese auto parts maker crippled by vast airbag recalls, filed for bankruptcy protection in the United States<br />and Japan and said it would sell its surviving operations to a Chinese-owned American rival, Key Safety Systems.<br />Honda, Takata’s biggest customer, said in a statement on Monday that the bankruptcy meant recovering money from Takata would be “difficult.”<br />Takata, a Japanese equipment manufacturer that has struggled since a scandal erupted nearly a decade<br />ago over airbag ruptures tied to at least 14 deaths, said it would file for bankruptcy.<br />Key Safety Systems, which makes airbags, seatbelts and other auto safety equipment, said it would buy Takata’s factories for about $1.6 billion.
