Up to 7 Million Cars With Takata Air Bags to Be Recalled in Japan
May 27 2016 - 4:30AM
Dow Jones News
TOKYO—Auto makers are recalling up to seven million more
vehicles in Japan that carry air bags made by Takata Corp.,
bringing the number of domestic cars subject to recall in the
country to 19.6 million, Japan's Ministry of Land, Infrastructure,
Transport and Tourism said Friday.
A transport-ministry official said auto makers would, by March
2019, recall cars with Takata-made air bags that lack a drying
agent.
The recalls include cars made by domestic firms such as Toyota
Motor Corp., Nissan Motor Co. Ltd., Honda Motor Co. Ltd., Mazda
Motor Corp. and Mitsubishi Motors Corp., the official said.
The ministry hasn't been able to identify all the foreign car
makers affected at this point, he added.
With the scope of the defective air-bag problem ballooning,
Takata's steering committee has spoken to private-equity funds and
companies—including U.S. investment fund KKR & Co.—about a
possible investment in the troubled company, a person familiar with
the matter said Thursday.
Takata hopes to find a financial investor or automotive company
to provide more cash, and to reach a deal with car makers to share
the costs of recalling nearly 70 million air bags in the U.S.
alone.
The faulty air-bag inflaters use an ammonium-nitrate propellant
that can degrade amid prolonged exposure to moisture, leading to
explosions that spray shrapnel into the vehicle cabins.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
May 27, 2016 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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