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Takata Chairman and CEO Shigehisa Takada apologizes at a press conference announcing the company's bankruptcy filing, in Tokyo on June 26.
Takata: Fall of an air bag giant

Air-bag maker Takata files for bankruptcy in Japan, US

Chairman offers apology, but stands by decision to put defective product in market

MITSURU OBE, Nikkei staff writer | Japan

TOKYO -- Following protracted recalls involving its defective air bags, Japanese auto supplier Takata on Monday filed for bankruptcy protection in Japan and the U.S., leaving behind a massive debt and an unresolved crisis.

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