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Business

Takata defaults on $270m in debt

What investors recover to hinge on recall costs, split with automakers

| Japan

TOKYO -- With its filing for bankruptcy protection Monday, air bag supplier Takata fell into default on 30 billion yen ($268 million) in domestic corporate bonds.

The debt consists of three issuances of 10 million yen. The old Elpida Memory defaulted on its publicly offered bonds in February 2012.

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