Takada funding crisis response airbag will sell shares in automotive business

Posted on 6/16/2016 2:45:04 PM

Japanese supplier Takata Corp. has said the company is selling the shares held by car manufacturers to raise funds to deal with claims brought airbag defect.
Takata spokesman Akiko Watanabe said Takada has been approved by all car prices, agreed to sell its stake. However, Akiko Watanabe declined to give more information. According to Japan's "Industrial News Journal" (Nikkan Kogyo) 14 reported that the end of April, Takata has sold most of the shares held by Honda Motor Company 220 million shares.
According to Takada annual report, in March 2015, the company also won the Toyota Motor Corp., Nissan Motor Co., Fuji Heavy Industries, Mitsubishi Motors Corp. and Suzuki Motor Corporation shares. According to Bloomberg information to close this month on the 14th, held by Takada carmakers have nearly $ 88 million in equity.
Takada company may incur billions of dollars in costs due to airbag recall now advanced by the most cost car prices. In February, Takada had appointed a steering committee for the drafting of external restructuring plan, the team of five people working with car companies talk about the recall cost-sharing arrangements, and hired US investment bank Reid Group (Lazard Ltd) for looking for investors.
Nissan, Toyota and Mazda declined to comment Takada its stake, other car manufacturers will not immediately be reached for comment. As at 12:32 on the 14th afternoon, shares Takada in Tokyo's stock exchange has fallen 2.7 percent to 392 yen, TOPIX index fell 1.5%.

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