Takata shares open down 1 percent after news of criminal probe

By Chang-Ran Kim; Editing by Chris Gallagher

Nov 14, 2014 12:11 PM EST

Takata shares open down 1 percent after news of criminal probe
The face of a trader is reflected on the screen of a terminal on the floor of the New York Stock Exchange September 29, 2014. (Photo : REUTERS/LUCAS JACKSON)

Shares of Takata Corp opened down 1 percent on Friday after the Japanese auto parts maker said it was the subject of a U.S. criminal investigation over defective air bags that have been linked to five deaths.

A Takata spokeswoman said on Thursday a federal grand jury had subpoenaed Takata's U.S. unit to produce documents on the air bag defects. An investigation by U.S. prosecutors in Manhattan had been previously reported but Thursday's statement is the first indication that a seated grand jury was seeking evidence.

The U.S. Senate commerce committee has separately scheduled a hearing next Thursday to solicit testimony from Takata executives on the air bag defects.

Takata's shares were down 1.3 percent at 1,215 yen in early trade, against a slight rise in the broader Tokyo market.

Real Time Analytics