ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Takata Chairman and CEO Shigehisa Takada on Monday held his first news conference since November 2015.
Business

Compensation deadline forced Takata into bankruptcy filing: CEO

Chief apologizes for air bag scandal, promises to step down

| Japan

TOKYO -- A looming deadline to pay automakers compensation for its massive air bag scandal pushed Takata to file for bankruptcy protection and solidify a turnaround plan, Chairman and CEO Shigehisa Takada said Monday at a news conference.

Takada started off by apologizing "from the bottom of my heart" for the fiasco before delving into the Japanese auto parts maker's situation.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more