Takata Tumbles 69% as Limits Removed After Bankruptcy Filing
- Air-bag maker filed for bankruptcy protection in U.S., Japan
- Takata will be delisted from the Tokyo exchange on July 27
Shigehisa Takada, chairman and chief executive officer of Takata Corp., bows during a news conference in Tokyo.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Takata Corp. shares tumbled as much as 69 percent to a record low as the Tokyo Stock Exchange removed daily limits on the stock’s price declines following the company’s bankruptcy protection filings in Japan and the U.S.
The stock traded at 35 yen as of 11:21 a.m. in Tokyo trading. Shares of the air-bag maker have slumped 91 percent since June 16, when they were suspended after Bloomberg and other media reported the company was preparing to seek protection from creditors.