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Takata suspends its stock exchange listing after its imminent bankruptcy

Shares of airbag maker Takata suspended its listing on the Tokyo Stock Exchange today after a local newspaper reported that the company plans to file in Bankruptcy as early as this month.

Tokyo, June 16 (EFE) .- Takata's shares have suspended their listing on the Tokyo Stock Exchange after a local newspaper reported that the company has Expected to go into bankruptcy as early as this month.

It is believed that the company's liabilities, affected by problems arising from its defective airbags, exceed one trillion yen (About 8,000 million euros / 9 billion dollars).

This motive would have led him to apply to Chapter 11 of the Bankruptcy Act in the United States, whose application is expected to be Approved by the Japanese newspaper Nikkei today.

The US company Key Safety Systems, a subsidiary of China's Ningbo Joyson Electronic, will sponsor the process Through the creation of a new company that will buy Takata's operations for about 180,000 million yen (1,453 million euros / 1.62 billion dollars) and will continue to supply Airbags, safety belts and other products manufactured so far by the Japanese company.

Takata will, however, remain responsible for liabilities related to Billion-dollar costs of repairing vehicles with their defective devices, Nikkei said.

Meanwhile Takata's creditor banks are expected to continue to provide Financial assistance to the company to ensure payment to its suppliers and delivery of products to its customers.

The defect of Takata's airbargs, detected in 2014, is located in The inflators, specifically in the metal encapsulation where the air bag is housed, which can be opened with too much force and project fragments to the occupants.

The fault, which is Drowning out the company's accounts for multi-million dollar spending on device replacement and sanctions, has been linked to at least a dozen deaths and affects vehicles More than 10 manufacturers.

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