Society | Jun 26

Takata CEO to step down

Jun 26 (NHK) - The head of Japanese airbag maker Takata says he will step down to take responsibility for the company's failure.

Chairman and CEO Shigehisa Takada made the remark at a news conference on Monday after the company filed for bankruptcy protection with a Tokyo court.

Takada said he offers sincere apologies to all relevant parties and creditors who have supported and cooperated with the firm.

He said he believes the outlook for the firm's rehabilitation will become clear when its operations are transferred to US auto parts maker Key Safety Systems.

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