ENLARGE A Takata steering committee of business, financial and legal experts in Japan retained Lazard within the past month. Japanese auto-parts maker Takata is set to recall up to 40 million more air-bag inflaters, adding to the 28.8 million air bags already being recalled. The air bags use an ammonium-nitrate propellant that can degrade amid prolonged exposure to moisture, leading to explosions that spray shrapnel in vehicle cabins. Only a handful of other companies supply air bags, and auto makers prefer competition among their parts makers. Honda and other auto makers have said they will no longer use front Takata air-bag inflaters.

Source: Wall Street Journal May 25, 2016 13:46 UTC