Takata plummets as reports emerge of Honda switching airbag supplier to Toyoda Gosei
Toyoda Gosei saw its share price rise on the news.
Japanese safety systems company Takata has seen its shares drop 6.2%, according to Dow Jones, when the market opened in Tokyo today following reports over the weekend (24–25 January) that Honda is opting to switch suppliers. Reuters reports that Honda has chosen rival supplier Toyoda Gosei to supply airbags for its next North American version of the Accord sedan, according to two people with knowledge of the decision. Neither Takata nor Honda has confirmed the reports. Toyoda Gosei saw its share price rise on the news.
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