Air bag maker Takata files for bankruptcy in Japan, US
By TOM KRISHER and MARCY GORDON, Associated Press
Jun 25, 2017 7:15 PM CDT
FILE - This July 6, 2016, file photo, shows the logo of Takata Corp. at an auto supply shop in Tokyo. Drowning in a sea of lawsuits and recall costs, Japanese air bag maker Takata Corp. is expected to seek bankruptcy protection in Tokyo and the United States early Monday, June 26, 2017. (AP Photo/Shizuo...   (Associated Press)

UNDATED (AP) — Japanese air bag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of faulty air bag inflators.

The company announced the expected action Monday morning Tokyo time. Takata confirmed that most of its assets will be bought by rival Key Safety Systems, based in suburban Detroit.

Takata was done in by defective inflators that can explode with too much force when they fill up an air bag, spewing out shrapnel. They're responsible for at least 16 deaths and 180 injuries and touched off the largest automotive recall in U.S. history.

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