A sign with the TAKATA logo is seen outside the Takata Corporation building in Auburn Hills, Michigan May 20, 2015. REUTERS/Rebecca Cook/File Photo

A sign with the TAKATA logo is seen outside the Takata Corporation building in Auburn Hills, Michigan May 20, 2015. REUTERS/Rebecca Cook/File Photo (Copyright Reuters 2016)

Takata shares halted on report U.S. unit preparing possible bankruptcy filing

Features Reuters

Trading in shares of Takata Corp <7312.T> was halted on Friday after the Nikkei business daily reported the embattled Japanese auto parts maker was preparing for a possible bankruptcy filing for its U.S. unit to help secure a financial sponsor.

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Takata, which has retained investment bank Lazard Ltd as an adviser, has been working to choose a backer for its turnaround as it faces huge costs related to the global recall of millions of potentially faulty air bag inflators.

In a statement, Takata said those efforts are ongoing.

"The primary collective goal is assessing all bids and reaching a resolution that is in the best interests of all our stakeholders while promoting public safety and enabling Takata to remain a viable and valued global supplier to the automotive industry," it said.

(Reporting by Chang-Ran Kim; Editing by Michael Perry)