Takata Bank Remove Skin

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Frequently Asked Questions

• What happened to Takata?

  The airbag scandal has led to a slow and painful demise for Takata, which started out as a textile manufacturer more than 80 years ago and later came to specialize in seat belts and other auto safety equipment.

• Is Takata still in the airbag business?

  The Japanese firm is now supplying only 25% of the replacement inflators, according to Upham, with rival companies providing the rest. Despite its disastrous airbag business, Takata has other operations that are still in good shape.

• Will Takata shareholders get money back from sale of business?

  The money from the sale of the business to Key Safety Systems will be used to cover those and other costs resulting from the airbag recall. But Takata shareholders are unlikely to get their money back, Upham said. The company's stock plunged more than 65% last week following reports that its bankruptcy filing was imminent.

• How long will Takata's bankruptcy affect the auto industry?

  Only 35% of affected cars have so far had their inflators replaced, he added. The process of making all U.S. vehicles safe again could last until 2023. But Takata's bankruptcy isn't expected to disrupt the massive recall triggered by its faulty products.

• What is the Takata scandal?

  Airbag manufacturer Takata files for bankruptcy The company at the heart of one of the worst auto safety scandals in history has filed for bankruptcy. Japan's Takata was brought down by the huge cost of its exploding airbag crisis.

• Is Takata still in the airbag business?

  The Japanese firm is now supplying only 25% of the replacement inflators, according to Upham, with rival companies providing the rest. Despite its disastrous airbag business, Takata has other operations that are still in good shape.

• What does Takata's bankruptcy mean for the future of the auto industry?

  The process of making all U.S. vehicles safe again could last until 2023. But Takata's bankruptcy isn't expected to disrupt the massive recall triggered by its faulty products. The Japanese firm is now supplying only 25% of the replacement inflators, according to Upham, with rival companies providing the rest.

• Will Takata shareholders get money back from sale of business?

  The money from the sale of the business to Key Safety Systems will be used to cover those and other costs resulting from the airbag recall. But Takata shareholders are unlikely to get their money back, Upham said. The company's stock plunged more than 65% last week following reports that its bankruptcy filing was imminent.