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Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection
Takata struggled with a faulty airbag recall crisis and failures in quality control that go back to 2004, with a crisis in 2015-2017 as a result of about 14 deaths. Takata's liabilities now run to over $15 billion according to Tokyo Shoko Research because of claims against it from banks, automakers and others. Takata declared bankruptcy on June 25, 2017. Takata was sold to a Chinese owned manufacturer based in Michigan, Key Safety Systems, for $1.6 billion. Takata had hoped for a white knight investor or some of the automakers such as Honda to save it. But the liabilities were too great and automakers in Japan resisted the idea because it might upset shareholders and it made no sense to assume growing liabilities. As a result the Takata company name will go out of business- for a company that started in 1933. The Chinese company taking on the business, a quarter of the market share for the airbag market, is Ningbo Joyson Electronic Corporation.
A related article in the NYT in 2014 by Tabuchi shows how management at Takata failed to act responsibly when the early beginnings of the crisis happened in 2004. See the link. [article-54918] At that time testing of an exploding airbag in Alabama was kept secret and later closed down without informing safety regulators, according to former employees. By not taking responsible action management failed in the 2015 airbag crisis leading to this bankruptcy, the largest in Japanese history.
Takata management
11/18/2014
Grouped Articles
Defective Takata Airbag Grows Into Global Problem for Manufacturer
New York Times 11/18/2014
Takata’s Switch to Cheaper Airbag Propellant Is at Center of Crisis
New York Times 11/19/2014
Takata Learned Early of Air-Bag Problems
Wall Street Journal 11/20/2014
In Takata Shake-Up, President Is Out as Founder’s Grandson Expands Role
New York Times 12/24/2014
Takata Expects Return to Profit Despite Facing Airbag Lawsuits
New York Times 05/08/2015
Toyota, Nissan Recall Over 6 Million Vehicles Over Takata Air Bags
Wall Street Journal 05/14/2015
Honda's break with Takata and the Takata emails
01/04/2016
Grouped Articles
Takata Emails Show Brash Exchanges About Data Tampering
New York Times 01/04/2016
A Cheaper Airbag, and Takata’s Road to a Deadly Crisis
The New York Times 08/26/2016
Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection
The New York Times 06/26/2017
With 54 Million to Go, This Airbag Recall Is Never Going To End
WSJ 06/26/2017
Cost savings for propellant and the Takata airbag crisis
11/19/2014
Grouped Articles
Takata’s Switch to Cheaper Airbag Propellant Is at Center of Crisis
New York Times 11/19/2014
Takata Learned Early of Air-Bag Problems
Wall Street Journal 11/20/2014
Takata Expects Return to Profit Despite Facing Airbag Lawsuits
New York Times 05/08/2015
Toyota, Nissan Recall Over 6 Million Vehicles Over Takata Air Bags
Wall Street Journal 05/14/2015
Honda Recalls Nearly 5 Million Vehicles With Takata Airbags
New York Times 05/14/2015
Takata Air-Bag Recalls Expand to 34 Million Cars in the U.S.
Wall Street Journal 05/19/2015
Takata's manufacturing processes and ineffective quality control
02/03/2016
Grouped Articles
Takata Lacks Processes for Tackling Air-Bag Defects, Panel Says
Wall Street Journal 02/03/2016
A Cheaper Airbag, and Takata’s Road to a Deadly Crisis
The New York Times 08/26/2016
Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection
The New York Times 06/26/2017
With 54 Million to Go, This Airbag Recall Is Never Going To End
WSJ 06/26/2017
Takata's handling of airbag problems and Congressional scrutiny in the U.S.
11/20/2014
Grouped Articles
Takata Learned Early of Air-Bag Problems
Wall Street Journal 11/20/2014
In Takata Shake-Up, President Is Out as Founder’s Grandson Expands Role
New York Times 12/24/2014
Takata Expects Return to Profit Despite Facing Airbag Lawsuits
New York Times 05/08/2015
Toyota, Nissan Recall Over 6 Million Vehicles Over Takata Air Bags
Wall Street Journal 05/14/2015
Honda Recalls Nearly 5 Million Vehicles With Takata Airbags
New York Times 05/14/2015
Takata Air-Bag Recalls Expand to 34 Million Cars in the U.S.
Wall Street Journal 05/19/2015
Takata performance
11/18/2014
Grouped Articles
Defective Takata Airbag Grows Into Global Problem for Manufacturer
New York Times 11/18/2014
Takata’s Switch to Cheaper Airbag Propellant Is at Center of Crisis
New York Times 11/19/2014
Takata Learned Early of Air-Bag Problems
Wall Street Journal 11/20/2014
Takata Expects Return to Profit Despite Facing Airbag Lawsuits
New York Times 05/08/2015
Toyota, Nissan Recall Over 6 Million Vehicles Over Takata Air Bags
Wall Street Journal 05/14/2015
Honda Recalls Nearly 5 Million Vehicles With Takata Airbags
New York Times 05/14/2015
U.S. Senate Commerce Committee report in June 2015 on Takata airbags- showing Takata stopped global safety audits 2009-2011 for financial reasons
06/19/2015
Grouped Articles
Senate Minority Report Faults Takata
Wall Street Journal 06/23/2015
Takata Is Said to Have Stopped Safety Audits as Cost-Saving Move
New York Times 06/22/2015
Federal Auditor Finds Broad Failures at N.H.T.S.A.
New York Times 06/19/2015
Lawmakers Spread Anger in Recalls Over Airbags
New York Times 06/23/2015
New York Times 10/22/2015
Takata Shares Fall 25% as More Auto Makers Follow Honda’s Footsteps
Wall Street Journal 11/05/2015
Honda's handling of the defective Takata airbag issues in 2014-2015
11/24/2014
The flawed handling included inadequate reporting of the number of people affected in airbag incidents.
Grouped Articles
Honda Failed to Report Defects’ Full Human Toll
New York Times 11/24/2014
Honda CEO Rethinks Car Maker’s Priorities
Wall Street Journal 12/05/2014
Honda in Japan Distances Itself From Fine on U.S. Subsidiary
New York Times 01/09/2015
Honda Names Takahiro Hachigo New President
Wall Street Journal 02/23/2015
Honda Recalls Nearly 5 Million Vehicles With Takata Airbags
New York Times 05/14/2015
Takata Air-Bag Recalls Expand to 34 Million Cars in the U.S.
Wall Street Journal 05/19/2015
Honda Takata airbag inquiry in 2014
11/03/2014
Grouped Articles
Investigation of Honda Centers on Failure to Report Deaths From Takata Airbags
New York Times 11/03/2014
Takata Offers Its Rebuttal to Report of Secret Airbag Tests
New York Times 11/12/2014
U.S. Seeks Nationwide Recall of Takata Air Bags
Wall Street Journal 11/19/2014
Honda Failed to Report Defects’ Full Human Toll
New York Times 11/24/2014
Honda CEO Rethinks Car Maker’s Priorities
Wall Street Journal 12/05/2014
Honda in Japan Distances Itself From Fine on U.S. Subsidiary
New York Times 01/09/2015
Japan's Transport Ministry and the Takata Airbag investigation
11/21/2014
Grouped Articles
Japan Orders Takata to Investigate Flawed Airbags
New York Times 11/21/2014
In Takata Shake-Up, President Is Out as Founder’s Grandson Expands Role
New York Times 12/24/2014
Takata Expects Return to Profit Despite Facing Airbag Lawsuits
New York Times 05/08/2015
Toyota, Nissan Recall Over 6 Million Vehicles Over Takata Air Bags
Wall Street Journal 05/14/2015
Honda Recalls Nearly 5 Million Vehicles With Takata Airbags
New York Times 05/14/2015
Takata Air-Bag Recalls Expand to 34 Million Cars in the U.S.
Wall Street Journal 05/19/2015
Takata Airbag Recall
10/22/2014
Grouped Articles
Takata Airbag Recall Faces Rising Scrutiny
New York Times 10/22/2014
Investigation of Honda Centers on Failure to Report Deaths From Takata Airbags
New York Times 11/03/2014
Takata Offers Its Rebuttal to Report of Secret Airbag Tests
New York Times 11/12/2014
U.S. Seeks Nationwide Recall of Takata Air Bags
Wall Street Journal 11/19/2014
Takata’s Switch to Cheaper Airbag Propellant Is at Center of Crisis
New York Times 11/19/2014
Takata Learned Early of Air-Bag Problems
Wall Street Journal 11/20/2014
Automobile owners and the Takata Airbag Recall
05/20/2015
Grouped Articles
For Drivers, Confusion Reigns in Takata Airbag Recall
New York Times 05/20/2015
Takata Air Bag Cited in Louisiana Death
Wall Street Journal 06/13/2015
Takata Airbag Flaw Linked to 10th Death; 5 Million More Vehicles Recalled
New York Times 01/22/2016
Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection
The New York Times 06/26/2017
Takata share price performance
11/04/2015
Grouped Articles
Takata Shares Fall 25% as More Auto Makers Follow Honda’s Footsteps
Wall Street Journal 11/05/2015
In Honda’s Rebuke of Takata, a Rare Move for Business Partners in Japan
New York Times 11/04/2015
Takata Says No Concerns About Its Financing
Wall Street Journal 11/07/2015
Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection
The New York Times 06/26/2017
Deaths related to Takata airbags reported in the media
06/13/2015
Grouped Articles
Takata Air Bag Cited in Louisiana Death
Wall Street Journal 06/13/2015
Airbag Death in Honda Rental Car Reveals a Gap
New York Times 06/19/2015
Takata Executive Says Air-Bag Death Toll Could Rise
Wall Street Journal 06/24/2015
Takata Shares Fall 25% as More Auto Makers Follow Honda’s Footsteps
Wall Street Journal 11/05/2015
In Honda’s Rebuke of Takata, a Rare Move for Business Partners in Japan
New York Times 11/04/2015
Takata’s Faulty Airbags Still Exact Toll as Recalls Lag
New York Times 01/30/2016
The failure of Takata's management and the bankruptcy in 2017
06/26/2017
Linked Articles
Takata, Unable to Overcome Airbag Crisis, Files for Bankruptcy Protection
The New York Times 06/26/2017
Takata Saw and Hid Risk in Airbags in 2004, Former Workers Say
The New York Times 11/07/2014
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