Behind the bankruptcy of Takata Corp., the Japanese auto parts maker derailed by vast its airbag recalls, is yet another downfall — that of the company’s founding Takada family, one of the country’s more prominent business dynasties.
Takata filed for bankruptcy protection in the U.S. and Japan on Monday and also announced plans to sell most of its auto safety products business for nearly $1.6 billion to Chinese-owned American rival, Key Safety Systems Inc.