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Takata Chairman and CEO Shigehisa Takada wielded absolute power within the company.
Business

Lax corporate culture set up Takata's fall

Founding family's iron grip precludes necessary reforms

| Japan

TOKYO -- Shigehisa Takada was adamant as usual. Even at the news conference on June 26 where he announced Takata's bankruptcy, the chairman and CEO of the beleaguered air bag supplier refused to acknowledge any fundamental quality problems with the company's products. 

"It is a mystery why the abnormal ruptures [of the air bags] occurred," Takada said at the news conference. "We are still struggling to understand [the cause]."

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