Takata (TKTDY) shares jumped 20% in Tokyo after automakers Toyota(TM) - Get Report , BMW (BMWYY) , Mazda (MZDAY) and Subaru (FUJHY) agreed to contribute a combined $553 billion to a settlement fund for victims of Takata's faulty airbags.
The automakers said they agreed to the fund due to "the size, scope and severity" and the Takata recall, but admitted no wrongdoing.
Takata agreed to pay $1 billion in criminal penalties in January, including $975 million paid to carmakers and to consumers who purchased vehicles with the company's exploding airbags.
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