TOKYO Oct 11 Shares of Takata Corp
tumbled on Tuesday after The Wall Street Journal reported late
last week that the troubled Japanese air bag maker is weighing a
U.S. bankruptcy filing as one option for clearing a path for an
As of 0012 GMT, Takata shares dived more than 10 percent
after remaining untraded with a glut of sell orders earlier.
Takata issued a statement on Tuesday saying the reported
plan was not something it announced. Markets were closed in
Japan on Monday for a public holiday.
Citing people familiar with the matter, the Wall Street
Journal said on Friday Takata's U.S. arm would seek protection
from creditors in a federal bankruptcy court under preliminary
plans being discussed.
(Reporting by Ayai Tomisawa; Editing by Chang-Ran Kim)