TOKYO (AP) — Money-losing Japanese air bag maker Takata Corp. is hiring financial advisory and asset management firm Lazard to help tackle financial problems and massive recalls.
Takata air bags can deploy with too much force, spewing shrapnel into the vehicle. They are responsible for at least 11 deaths and more than 100 injuries worldwide. Authorities in Malaysia have begun an investigation into two more recent deaths.
Takata said Thursday that Lazard will help with restructuring in partnership with its auto customers.
The recalls have been growing and may reach more than 100 million inflators. Many automakers have said they will stop using Takata air-bags in models under development.
Tokyo-based Takata has sunk into red ink for the last two fiscal years over the recalls. It faces lawsuits around the world.