Airbag maker Takata dives 25pc on bankruptcy fears
Takata shares plunged again Wednesday, losing almost half of their value in just three days of trading on reports the troubled Japanese airbag maker will file for bankruptcy protection and sell its assets to a US company. Takata, at the centre of the auto industry's biggest-ever safety recall, finished at 244 yen ($2.20), tumbling by nearly 25 percent -- its maximum daily loss limit -- on the Tokyo Stock Exchange, after eye-popping falls on Monday and Tuesday.
The Nikkei business daily has said the company, with liabilities exceeding one trillion yen ($9 billion), would make a formal decision about the bankruptcy filing at a board meeting this month.
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