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Takata recognizes more than ¥1 trillion in creditor claims

Jiji Press TOKYO (Jiji Press) — Bankrupt Japanese air bag maker Takata Corp. has recognized a total of ¥1.08 trillion in debt claims from creditors, Tokyo Shoko Research Ltd. said Friday.

Of the total, more than ¥900 billion are claims from automakers related the costs to recall vehicles with defective air bags made by Takata, the major credit research company said.

Takata filed for bankruptcy under the Civil Rehabilitation Law in June with debts of ¥1.7 trillion, the biggest amount among collapsed Japanese manufacturers in the postwar period.

Given the amount recognized, Takata is likely to see a decrease in its obligations, according to Tokyo Shoko Research.

Takata recognized ¥331.2 billion in claims from Toyota Motor Corp., the biggest amount among creditors.

The amount of recognized claims stood at ¥239.7 billion for Honda Motor Co., ¥131.1 billion for Mazda Motor Corp., ¥76.4 billion for Nissan Motor Co., ¥55.7 billion for Mitsubishi Motors Corp. and ¥42.5 billion for Subaru Corp.

As for other creditors, Takata recognized $850 million, or ¥96.3 billion, in claims from the U.S. government. The amount is the unpaid portion of the $1 billion that the company agreed to pay for selling in the United States air bags whose test data were tampered.Speech

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