Trading in shares of Takata Corp was halted on Friday after the Nikkei business daily reported the embattled Japanese vehicle parts maker was getting ready for a possible personal bankruptcy filing for its U.S. unit to help protect a monetary sponsor.
Takata, which has actually maintained financial investment bank Lazard Ltd as an adviser, has been working to select a backer for its turn-around as it deals with substantial expenses associated with the worldwide recall of millions possibly defective air bag inflators.
In a declaration, Takata stated those efforts are continuous.
“The main cumulative goal is examining all bids and reaching a resolution that remains in the very best interests of all our stakeholders while promoting public safety and making it possible for Takata to remain a practical and valued worldwide supplier to the automobile market,” it stated.
