Mexican Media Brands
Takata Shares Plunge as Reported Bankruptcy Looms
Shares in Takata Inc. plummeted more than 50% in early trading on the Tokyo Stock Exchange today over expectations that the airbag maker will file for bankruptcy this week.
#economics
Share
Shares in Takata Inc. plummeted more than 50% in early trading on the Tokyo Stock Exchange today over expectations that the airbag maker will file for bankruptcy this week.
Trading of the company’s stock was halted on the Tokyo stock exchange on Monday, Tuesday or Wednesday after media reports last Friday said the bankruptcy filing was imminent. But after-hours trading drove down the stock price 70% anyway.
A backlog of sell orders caused the company’s stock to sag further in early trading today. By midday shares had dropped to 118 yen ($1.06). Takata was at about 1,000 yen in early January and 484 yen at the end of last week.
The company continues to insist that no decision has been made about a bankruptcy filing.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.