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Key Developments: Takata Corp (7312.T)

7312.T on Tokyo Stock Exchange

31 May 2016
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Latest Key Developments (Source: Significant Developments)

Honda Canada provides update on expanded recall of Takata non-desiccated passenger front airbag inflators
Friday, 27 May 2016 06:30am EDT 

Honda Canada : Statement by Honda Canada regarding expanded recall of Takata non-desiccated passenger front airbag inflators . Will conduct safety recalls in North America covering approximately 4.5 million passenger airbag inflators in Honda and Acura automobiles . Takata inflator replacement repairs are expected to begin in late-summer of 2016 . Approximately 2.2 million new vehicles added to Takata inflator recall in united states . No new driver front airbag inflators in Honda or Acura automobiles will be subject to recall as a result of the action .Honda has not received any reports of Takata inflator ruptures in Honda or Acura vehicles in Canada.  Full Article

FCA US to voluntarily recall estimated 4.3 mln older-model vehicles in the U.S.
Friday, 27 May 2016 05:17am EDT 

FCA US LLC: Voluntarily recalling an estimated 4.3 million older-model vehicles in the u.s. To replace their front-passenger air bag inflators . Action follows a defect filing by supplier takata corp . The company is unaware of any injuries or accidents involving fca us vehicles subject to this campaign . Takata advised nhtsa that the inflators use ammonium nitrate as a propellant, without benefit of a chemical drying agent .Activation of degraded non-desiccated ammonium nitrate may cause an inflator rupture, possibly propelling fragments through the vehicle cabin.  Full Article

Takata hires Lazard Ltd to craft restructuring plan for dealing with rising liabilities from safety crisis - WSJ
Wednesday, 25 May 2016 03:23pm EDT 

:Takata hired Lazard Ltd to craft restructuring plan for dealing with rising liabilities from safety crisis - WSJ, citing sources.  Full Article

Takata announces lawsuit filed by STATE OF HAWAII
Wednesday, 18 May 2016 05:06am EDT 

Takata Corp <7312.T>: Says STATE OF HAWAII filed lawsuit against Takata and its unit TK HOLDINGS INC, for civil fines and compensation (up to $10,000 to each consumer) under the consumer protection laws, on May 13 (Hawaii time) .Says the lawsuit regarding the company's air bag products (for vehicles).  Full Article

Honda to recall 21 mln more vehicles to fix Takata air bags - Bloomberg
Friday, 13 May 2016 04:36am EDT 

:Honda To Recall 21 Million More Vehicles To Fix Takata Air Bags - Bloomberg.  Full Article

Honda exec: agrees with NHTSA's view on root cause of Takata air bag defects
Friday, 13 May 2016 03:54am EDT 

: Honda exec: agrees with NHTSA's view on root cause of Takata air bag defects . Honda: set aside recall costs for all air bag inflators without desiccants Further company coverage: [7267.T] (Reporting By Makiko Yamazaki).  Full Article

Takata: considering drastic review of inflator division
Wednesday, 11 May 2016 02:53am EDT 

: Takata: considering drastic review of inflator division . Takata: considering sale of noncore businesses other than auto safety parts . Takata says cause of air bag defect still not determined, currently investigating this issue with automakers . Takata CFO says has appointed a team of 5 experts to help with restructuring plan, expecting a plan by autumn . Takata CFO says sold some shares it held in carmakers . Takata CFO says results do not reflect costs of investigative airbag recalls as defect cause has not been determined (Reporting By Naomi Tajitsu).  Full Article

Japan Govt urges automakers to recall additional 7 mln vehicles with faulty Takata air bags - Nikkei<7312.T>
Monday, 9 May 2016 04:56pm EDT 

Nikkei: Japanese government urging automakers to recall additional 7 million or so vehicles sold in the country with faulty Takata air bags, sources to Nikkei - Nikkei .  Full Article

Takata expects extraordinary loss for FY 2016
Monday, 2 May 2016 03:45am EDT 

Takata Corp:Expects extraordinary loss for FY ended 2016, including 16.6 bln yen for product warranty provision and 2.6 bln yen for product liability settlement.  Full Article

Takata Corp may be forced to recall all U.S. air bags - Chicago Tribune
Sunday, 24 Apr 2016 04:45pm EDT 

Takata Corp:About 85 million Takata air bag inflators that haven't been recalled are inside cars and trucks being driven in the U.S. and would have to be replaced if the company can't prove they are safe, the government said last week.The number would be in addition to the 28.8 million inflators slated for replacement in what has become the largest automotive recall in the nation's history.If all the inflators are recalled, they would total almost 114 million. A recall that massive would take years to complete and cost Takata billions of dollars.Unlike most air bag-makers, Takata's inflators use the chemical ammonium nitrate to create a small explosion that fills air bags in a crash. But the chemical can burn too fast and explode with too much force, blowing apart a metal canister and hurling shrapnel at drivers and passengers.At least 11 people have died worldwide and over 100 have been hurt.  Full Article


Automakers recall 12 million U.S. vehicles over Takata air bags

WASHINGTON Eight automakers said on Friday they are recalling more than 12 million U.S. vehicles for defective Takata air bag inflators, widening the largest-ever auto safety effort to more passenger-side devices.