Home GRASP GRASP/Japan Takata shares suspended over rescue plan report ‹ Japan Today

Takata shares suspended over rescue plan report ‹ Japan Today

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NewsHubTOKYO —
Trading in Takata shares was suspended in Tokyo Thursday following a report that two bidders are set to propose court-mediated rescue plans for the airbag maker at the centre of the auto industry’s biggest safety recall.
Sweden’s Autoliv, the world’s leading air bag manufacturer, and a consortium led by U. S. auto parts maker Key Safety Systems, are both expected to present their competing proposals as early as this week, Japan’s leading Nikkei business daily reported.
A court-mediated overhaul is seen as likely to win support from Takata’s customers, which include most of the world’s biggest automakers, after they recalled more than 100 million airbags globally, the Nikkei said.
Takata shares did not trade at the start Thursday as the Tokyo Stock Exchange suspended activity. They closed at 867 yen Wednesday.

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