Takata offers condolences for faulty air bag deaths
Air bags by Japanese maker linked to at least 16 deaths and 180 injuries around the world
Japanese auto parts maker Takata Corp expressed condolences to victims of its faulty air bags linked to at least 16 deaths and 180 injuries around the world, but stopped short of offering a full apology.
“We offer our condolences to the those who lost their lives and to those who suffered injuries,” Shigehisa Takada, chairman and CEO of Takata, said at the company’s last annual shareholder meeting as a listed company.
The meeting came a day after Takata, facing tens of billions of dollars in costs and liabilities following almost a decade of recalls and lawsuits, said it had filed for bankruptcy protection in Japan and the United States.
As part of the arrangements it will be largely acquired for $1.6 billion (Dh5.88 billion) by the Chinese-owned US-based Key Safety Systems.
The grandson of the company’s founder, Takada was criticised in the Japanese media for failing to address victims at a press conference announcing the bankruptcy on Monday. It was his first media appearance in more than a year and a half.
Bow of contrition
At yesterday’s meeting, he joined other executives in making a deep bow of contrition for the lives lost and shattered by the company’s defective airbag inflators. Most victims were in the United States.
“I was told that I shouldn’t cause any bias and that I should leave it to others,” Takada said, responding to the criticism. “I too felt shame about this.” Takada “was full of excuses,” said one female investor in her 40s from Tokyo.
“Constantly blaming the media and those around him, it’s not surprising things ended up like this,” she said.