Reports suggest that Takata has ruled out bankruptcy to deal with huge airbag recall liabilities and is instead seeking a buyer to carry it through its crisis.

Bloomberg reported that Lazard, Takata's financial adviser, will meet manufacturers as well as financial firms with the aim to find buyers "by the fall", according to an anonymous source who spoke with the news agency.

The report said that Takata's plan is to remain listed and maintain its core seat-belt, airbag and steering-wheel businesses, while selling off non-core operations.

Shares in Takata have surged lately on reports that US private equity group KKR has offered to support the turnaround of Takata. KKR is believed to be among several parties who have expressed an initial interest in Takata.

However, analysts say that a deal is unlikely to happen soon as a definitive summation of all liabilities is still awaited, along with any indications that automakers are interested in buying a stake. Automakers have an interest in Takata's survival and ensuring the continued supply of parts which include steering wheels and seatbelts, as well as airbags.