TOKYO -- How does a company go from a global leader in its industry to filing for bankruptcy in a matter of years? Just ask Takata. The Japanese autoparts supplier controlled 20% of the air bag market until a protracted recall ballooned into an uncontrollable crisis. Now it is seeking bankruptcy protection in Japan and the U.S., its debts having mounted to 141.2 billion yen ($1.26 billion).
Takata: A textbook example of crisis mis-management
Why Toyota and Samsung succeeded where the scandal hit air bag maker failed