Almost 100 million cars, including about 70 million in the United States, were subject to the airbag recall, the largest in auto history, over the defective Takata airbags blamed for 11 deaths in the USA alone.
Takata was contacted by just-auto and offered no comment.
The Nikkei, the world's largest financial newspaper, reported earlier that Takata is expected to file for bankruptcy in Japan as early as this June, with liabilities exceeding 9.02 billion U.S. The Nikkei reported that a new company created under Key will purchase Takata operations for about $1.62 billion and continue supplying air bags, seat belts and other products, leaving liabilities behind in a separate entity.
A USA judge said earlier this year the costs of replacing all of the faulty Takata inflators could be $8 billion.
Takata is now expected to seek bankruptcy protection before the end of this month at the latest, though the timing could still slip, the person said.
FILE PHOTO: A billboard advertisement of Takata Corp is pictured in Tokyo September 17, 2014. The problem is now blamed for at least 16 deaths - most of those in the United States - as well as more than 180 injuries. The settlement includes a $25 million criminal fine, $125 million in victim compensation and $850 million to compensate automakers who have suffered losses from massive recalls.
Grim search on after London tower fire
Ms Saye was in her flat on the 20th floor when the fire struck, with her mother Mary Mendy, who is thought to be in her 50s. Specially trained dogs were being brought in to aid the search. "Those 70s buildings, many of them should be demolished".
The automotive parts supplier is facing an $850 million payment to auto makers, as part of a settlement for a U.S. Justice Department criminal probe.
Takata is facing billions in liabilities that have come up as a result of defective airbag inflators, and the component manufacturer also owes $850 million to major automobile manufacturers around the globe. But then again, it's critical to highlight that there's no telling if Takata is really planning to file for bankruptcy.
Michigan-based Key, owned by Chinese supplier Ningbo Joyson, was chosen earlier this year as the favored buyer for Takata.
The problems for Takata started in 2008 when they were forced to recall around 100 million airbag inflators around the world which are used in vehicles made by 19 automakers, including Honda, Ford, Volkswagen and Tesla.
Last month, four automakers including Toyota Motor Corp agreed to a $553 million settlement to address class-action economic loss claims covering owners of almost 16 million recalled vehicles with Takata inflators.
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