Scandal-hit airbag maker files for bankruptcy in Japan and the US

Takata, the Japanese automotive supplier at the centre of an unprecedented global recall of exploding airbags, has filed for bankruptcy protection in Japan and the US, with its liabilities exceeding US$9bn, to address massive recall costs.

The move paves the way for a US$1.6bn takeover of Takata’s core assets by Key Safety Systems, a US airbag manufacturer owned by China’s Ningbo Joyson Electronic.

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