Japanese auto parts maker Takata expressed condolences to victims of its defective air bags connected to at least 16 deaths and 180 injuries worldwide, but stopped short of providing a full apology.
“We provide our condolences to the those who lost their lives and to those who suffered injuries,” stated Shigehisa Takada, chairman and CEO of Takata, at the business’s last yearly investor meeting as a noted business.
The meeting followed Takata’s facing tens of billions of dollars in expenses and liabilities following nearly a decade of recalls and lawsuits, stated it had declared bankruptcy protection in Japan and the United States.
As part of the plans it will be mostly obtained for $1.6 billion by the Chinese-owned U.S.-based Key Safety Systems.
The grandson of the company’s founder, Takada was slammed in the Japanese media for cannot address victims at an interview revealing the bankruptcy. It was his first media appearance in over a year and a half.
At Tuesday’s conference, he joined other executives in making a deep bow of remorse for the lives lost and shattered by the company’s faulty air-bag inflators. Most victims were in the United States.
“I was informed that I should not trigger any bias and that I should leave it to others,” Takada stated, reacting to the criticism. “I too felt embarrassment about this.”
Takada “was full of excuses,” stated one female investor in her 40s from Tokyo.
“Constantly blaming the media and those around him, it’s not unexpected things ended up like this,” she added.