Takata’s filing for bankruptcy is unavoidable

TOKYO (Reuters) – Japanese Trade Minister Hiroshige Seko said on Monday that Takata Corp’s filing for bankruptcy was unavoidable given the severity of its product recalls.

Seko, speaking to reporters, said he asked ministry officials to devise a scheme to provide 100 percent loan guarantees to small businesses that may be affected by Takata’s bankruptcy.

Seko also said he wanted to closely monitor liquidity and funding conditions for small companies that dealt with Takata.

 

(Reporting by Stanley White; Editing by Chang-Ran Kim)

 

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