Takata Corp. issued a statement today following reports from a number of media outlets indicating that the company is considering filing for bankruptcy in the U.S.
The company’s statement is below:
“Certain media have reported that TK HOLDINGS INC., a U.S. subsidiary of Takata Corp, is considering filing for Chapter 11 bankruptcy proceedings under the U.S. Federal Bankruptcy Code and that Takata is considering voluntary liquidation in Japan. However, these reports are not based on any announcement by Takata. Takata has not made any such decisions and has no information to disclose concerning these matters.
“Takata has set up an external Steering Committee and commissioned it to develop a comprehensive restructuring plan to address the various issues related to airbag recalls. As part of its activities this committee is seeking new investors in Takata, but there are no new decisions to report since the press release issued by Takata on Oct. 11, 2016, titled ‘Regarding certain media reports.’ Any information that requires disclosure will be announced promptly as it arises,” Takata stated.
