Takata Co., a maker of auto parts, filed for bankruptcy protection in Japan and the United States on the morning of the 26th, and will sell almost all of its assets to the US supplier, Perrific Automobile Safety System (KSS), for nearly $ 1.6 billion. The latter is part of Ningbo Zhongsheng Electronic Co., Ltd.
Asset sales will help Takada to pay early next year to the car manufacturers to pay $ 850 million obligations. This is part of the $ 1 billion pledge agreement between Takada and the US Department of Justice to settle a criminal investigation against Takada. Takada said the estimated liabilities in the 10 billion -500 billion US dollars.
The company's statement said that the assets and business related to the production of the airbag were not included in the transaction, and that part of the assets and business would eventually be shut down. Baili plans to keep all Takada employees and Takada's business in Japan, opening new regional headquarters in Tokyo.
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