11 Facts About Takata Corporation

Takata Corporation had production facilities on four continents, with its European headquarters located in Germany.

Takata Corporation was founded in 1933 in Shiga Prefecture, Japan, by Takezo Takada and started to produce lifelines for parachutes, and other textiles.

In 2000, Takata Corporation acquired German competitor Petri AG, forming the European subsidiary Takata-Petri, renamed Takata AG in early 2012.

Takata Corporation AG makes steering wheels and plastic parts, not only for the automotive industry.

The recall was prompted by an investigation carried out by the National Highway Traffic Safety Administration on Takata Corporation-equipped Honda vehicles, after many of their owners complained of seat belt buckles either failing to latch, latching and releasing automatically, or releasing in accidents.

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Takata Corporation began making airbags in 1988 and, as of 2014, held 20 percent of the market.

In June 2014, Takata Corporation admitted their Mexican subsidiary had mishandled the manufacture of explosive propellants and improperly stored chemicals used in airbags.

Takata Corporation has already recalled 40 million vehicles across 12 vehicle brands for "Airbags that could explode and potentially send shrapnel into the face and body of both the driver and front seat passenger".

In November 2015, Takata was fined $200 million by U S federal regulators in response to Takata's admission of a fault.

Takata Corporation agreed to plead guilty and to pay $1 billion to resolve the investigation, which includes a $25 million fine, $125 million for victim compensation and $850 million to compensate automobile manufacturers.

Takata Corporation claimed that the issue has only been shown to affect vehicles in hot and humid locations.