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Takata shares plunge, change hands for the first time since Friday
June 22, 2017 / 2:12 AM / 6 months ago

Takata shares plunge, change hands for the first time since Friday

TOKYO (Reuters) - Shares in Takata Corp 7312.T changed hands for the first time since sources said last week that the struggling airbag maker was preparing to file for bankruptcy, falling 50 percent in Thursday morning trade.

FILE PHOTO: Visitors walk past a logo of Takata Corp on its display at a showroom for vehicles in Tokyo, Japan February 5, 2016. REUTERS/Toru Hanai/File Photo

The stock has closed down by its daily limit each day this week after being untraded during the day - a forced close in accordance with Tokyo Stock Exchange rules. It has lost about 75 percent of its value since Friday.

Takata, facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as it works toward a deal for financial backing from U.S. auto parts maker Key Safety Systems Inc, sources have told Reuters.

Reporting by Thomas Wilson; Editing by Edwina Gibbs

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