Takata Corp. said that it wants to avoid bankruptcy globally because a court-led restructuring could disrupt the supply of parts to automakers, the first public comments the embattled air-bag supplier has made on an option being considered in the U.S., Bloomberg News reported today. “We hope to have out-of-court settlement and our position hasn’t changed since the beginning,” Chief Financial Officer Yoichiro Nomura said today after the Tokyo-based company reported earnings. “There’s no other option to ensure the stable supply of the products. Court-led bankruptcy will make it difficult for the business to continue.” Takata shares have fallen 14 percent since Bloomberg reported on Sept. 16 that some form of bankruptcy proceedings were being considered by bidders for the company, which is at the center of a record auto industry recall. Autoliv Inc., Key Safety Systems Inc., Flex-N-Gate Corp. and Daicel Corp. — bidding together with Bain Capital LP — proposed bankruptcy for Takata’s U.S. unit at meetings with automakers last week in New York as a way to limit liabilities.
