Takata shares soar 21% on report US firm KKR may take control of air bag maker

Visitors walk past a logo of Takata Corp on its display at a showroom for vehicles in Tokyo, Japan, Feb 5, 2016.
Visitors walk past a logo of Takata Corp on its display at a showroom for vehicles in Tokyo, Japan, Feb 5, 2016.PHOTO: REUTERS

TOKYO (BLOOMBERG) - Takata Corp surged by the daily limit in Tokyo trading on Thursday (May 26) after the Nikkei newspaper reported KKR & Co, the US private equity firm, may support and take control of the company responsible for the biggest safety recall in auto industry history.

The shares jumped by 21 per cent as of 2 pm on Thursday.

Takata said earlier it retained Lazard to pursue investment in the Japanese supplier. Akiko Watanabe, a spokeswoman for the air-bag maker, said she wasn't aware of the report or able to immediately comment.