The Downfall of Corporate Japan’s Titans – Vertical Distinct
Takata’s Product Failures and Bankruptcy
The once mighty bastion of global and business success – Japan – is in the spotlight again as another one of its prominent pillars and business dynasties is embroiled in a corporate scandal.
The rise and fall of a dynasty
Takata has filed for bankruptcy in the US and Japan. This follows a string of problems at other venerable companies, such as Olympus with its cover-up in 2011 and Toyota, with not only with faulty brakes but the sorry saga of the loss of its first female executive. Then, there is Toshiba with their accounting scandal and Mitsubishi’s faking fuel economy figures. Like the VW ‘diesel-gate’ emissions scandal, Takata is another global company destroyed by a product failure and attempted cover-up – with roots in Japanese corporate culture.