Takata shares slide, KSS seen backing court-led restructuring

Shares in Japan’s Takata Corp lost a fifth of their value on Monday after sources said Key Safety Systems had been selected to lead its turnaround, fanning concern that a court-led restructuring was on the cards. The Nikkei business daily, which first reported the news of KSS’s selection, said automakers would support the pick on condition Takata pursue a court-mediated turnaround in both Japan and the United States – a move that could wipe out shareholders’ equity.