Takata may get relief from Japanese automakers, paper reports

OSAKA, Japan (Bloomberg) -- Takata Corp. shares surged the most in more than a year after the Sankei newspaper reported that Japanese automakers may provide support to the airbag maker to safeguard access to its technology.

The report said the companies may jointly invest in Takata, spread the recall claims against the airbag maker over several years and postpone their demands for price cuts for parts. Honda Motor Co., the automaker most affected by the recalls, said it’s waiting for the results of the investigation into the root cause of the defect and isn’t planning to extend aid or invest in Takata, according to spokesman Teruhiko Tatebe.

Takata gained 14 percent to 918 yen ($7.72) at the close of trading in Tokyo, the biggest increase since November 2014.

Takata’s airbags have been found to explode with such force to turn metal casings into shrapnel and are linked to nine deaths and about 100 injuries. In the U.S., the regulator has ordered a dozen automakers to replace Takata airbags in at least 19 million vehicles, the biggest safety recall in U.S. automotive history.

Honda last week confirmed a ninth death linked to a Takata airbag inflator. A Honda Accord's inflator ruptured in a July crash and likely led to the death of the car's 13-year-old driver.

The company said in a stock exchange announcement that it has nothing to say right now about media reports on aid from automakers and will disclose any information when available. Nissan Motor Co. and Toyota Motor Corp. declined to comment.