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Takata readies Chapter 11 filing for US unit

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Shigehisa Takada, chairman and CEO of Takata   © Reuters

TOKYO -- Embattled Japanese air bag maker Takata is preparing for a possible bankruptcy protection filing in the U.S. amid the mounting costs related to the company's defective air bags, which have been linked to some deaths.

The move could help the Tokyo-based company find a financial backer to ensure its parts-supplying operations remain ongoing as it seeks an out-of-court reorganization -- an important consideration for its automaker customers.

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