TOKYO -- Japan's Akebono Brake Industry is seeking a capital infusion from top shareholder Toyota Motor and financial relief from bank lenders as it tries to turn operations around under a private workout scheme, Nikkei learned Tuesday.
The brake maker filed for an out-of-court turnaround process with a state-certified third-party body that day. Akebono, whose troubled American operations have weighed on its earnings, is already in talks with certain partner banks and aims to compile a rehabilitation plan by June.
