May 13, 2016
By: Daniella Soloway
As Takata faces the largest auto-safety recall in history, the Japanese auto parts manufacturer is looking to restructure its business. Rather than focusing on new capital, the company will reportedly look to cut costs and sell non-core business assets.
Takata will potentially nix the division responsible for creating and distributing the flawed airbags, which send shrapnel into the car upon deployment due to too much force. Takata’s CFO, Yoichiro Nomura, has appointed five lawyers and corporate experts to advise on the restructuring that will help the company survive the far-reaching blunder.
More than 40 million cars have already been recalled in the United States due to the fiasco.