ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Takata set to deliver restructuring plan this month

Key Safety Systems of US seen buying most operations, snaring high global share

TOKYO -- Japan's Takata looks to file a turnaround plan with a Tokyo court by Nov. 27 that would have the scandal-rocked air bag maker sell nearly all operations to U.S. peer Key Safety Systems as soon as next spring.

The companies are thought to be concluding an agreement under which KSS pays $1.58 billion for Takata's operations in spring 2018. When the plan is submitted to Tokyo District Court, which is supervising Takata's rehabilitation, it will go to the company's creditors -- including major Japanese automakers -- for approval.

Sponsored Content

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

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

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