Takata CEO Shigehisa Takada speaks during a news conference in Tokyo on Monday, as the Japanese air bag maker is seeking bankruptcy protection in Japan and the U.S. The company has been under financial pressure from lawsuits and recall costs related to its of defective air bag inflators.
Consumers would be compensated for losses tied to defects and a related recall of Takata air bags, under a proposed settlement. Here, the airbag unit for the passenger seat of a Toyota Motor vehicle is seen in 2013.
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Takata Corp.'s chief financial officer Yoichiro Nomura leaves federal court in Detroit on Monday. Japanese auto parts maker Takata Corp. pleaded guilty to fraud and agreed to pay $1 billion in penalties for concealing an air bag defect.
Mark Rosekind, administrator of the National Highway Traffic Safety Administration, speaks Wednesday during a news conference on Takata air bags in Washington, D.C.
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Hiroshi Shimizu, senior vice president of global quality assurance at Japanese air bag maker Takata, apologizes for the failure of the defective devices on Capitol Hill in Washington on Thursday.
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The 2002 Honda CR-V is one of dozens of car models subject to a recall for faulty air bags. The air bag manufacturer, Takata, supplies bags for more than 30 percent of all cars and is one of only three large air bag suppliers.
Insurance Institute for Highway Safety/AP