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Takata Chairman and CEO Shigehisa Takada is expected to resign once the company's prospects are clearer.

Deal with US sponsor would give Takata a way forward

Plan would split off recall-related debts into a 'bad Takata'

| Japan

TOKYO -- Filing for bankruptcy protection and selling operations to an American sponsor would mark an end to founding-family-controlled Takata's indecisive handling of its air bag crisis, but not to the potential for further liabilities.

Japan-based Takata seeks to rebuild under the auspices of U.S. autoparts maker Key Safety Systems. A subsidiary of China's Ningbo Joyson Electronic, Key Safety is to acquire Takata operations including air bags, seat belts and children's car seats for 180 billion yen ($1.62 billion) through a new unit.

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