Takata is reportedly planning to sell an American producer of automotive interior materials, as well as shareholdings, to help fund its faulty airbag inflator recalls.
Nikkei reports that Takata is seeking to sell Irvin Automotive Products for "tens of billions of yen". Irvin was acquired by Takata in 1989.
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While Takata's other North American divisions specialise in seat belt, electronics, and airbag technology, Irvin Automotive Products, Inc. focuses on soft trim components and assemblies for interior automotive applications. Irvin is known for supplying a full line of interior trim products to OEMs worldwide. Irvin's products include seat covers, headrests, cargo shades, armrests and sun visors
The Nikkei report also said that Takata will sell off the majority of its shareholdings. The report added that the company holds shareholdings in major companies such as Honda, Toyota, Nissan and trading house Mitsui & Co. as part of cross-shareholding arrangements.
Takata is in the grip of a severe crisis due to defective airbag inflators and worldwide recalls on models fitted with its parts across a number of brands. Approximately 34m vehicles are potentially affected in the US, with another 7m recalled worldwide.
