TOKYO: Struggling auto parts maker Takata surged again Thursday, the latest in a series of gains that have seen the value of its shares double since news broke last week of an expected settlement over a US criminal probe.
The Japanese auto parts supplier could reach a final agreement with the US Department of Justice before President-elect Donald Trump assumes office January 20, sources familiar with the matter told AFP last week.
At one point, Takata shares soared 22.44 percent to 1,233 yen -- more than a 100 percent rise since December 28 when it started to climb on hopes of an end to an exploding airbag scandal.
Takata shares closed the morning session at 1,034 yen, up 2.68 percent.
US officials want Takata to recognise its wrongdoing and pay a financial penalty that could exceed $1 billion, one source said.
Prosecutors are hoping to have an agreement by January, as part of the outgoing Obama administration's efforts to close the book on outstanding cases before Trump's inauguration, the Wall Street Journal said.
Some 100 million Takata airbags have been recalled worldwide over a defect that can send metal and plastic shrapnel from the inflator canister hurtling toward drivers and passengers when an airbag is deployed.
The defect has been linked to 11 US fatalities and 15 worldwide. US regulators have said the problem is more dangerous in southern parts of the United States with warmer and more humid climates.
Nearly every major carmaker has been forced to recall cars because of the defect, including General Motors, Honda, BMW and Tesla.
In November 2015, the US National Highway Traffic Safety Administration imposed a record $200 million civil fine against Takata for providing inadequate and inaccurate information to regulators about the defect.
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