As embattled Takata faces bankruptcy, Toyota, Nissan and Honda are among OEMs who will continue to support the company following a bankruptcy that could come as early as Monday (26 June).

Nikkei reports that the three largest Japanese OEMs, as well as smaller manufacturers, have informed Takata that they will continue to do business based on existing contracts. The report said they would also speed up payments if necessary, to help with cash flow.

The Nikkei news agency noted that Honda has issued the most recalls of defective Takata airbag inflators among Japanese automakers, topping more than 50 million units.

Takata is also seeking bridging loans for working capital from Japanese banks.

The report also said that Takata plans to exit the market for airbag inflators after restructuring and will be excluded from Key Safety Systems’ proposed operations takeover.

The report also said that Takata has around 570 domestic suppliers, some of whom will face financial problems of their own following a Takata bankruptcy in Japan.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.