Shares in troubled Japanese airbag maker Takata (TKTDY) jumped 21% - the daily limit - after Japanese newspaper Nikkei reported private equity firm KKR plans to buy a stake in Takata and take control away from the founding Takada family, which holds about 60% of the stock.

As of March 2015, 52.1% of Takata shares were owned by TKJ, a Takada family investment vehicle, 2.9% by Chairman and CEO Shigehisa Takada, and 2.1% by his mother Akiko Takada.

The Tokyo-based company, which also manufactures seat belts, steering wheels, and child seats, has booked net losses for two consecutive years. On May 11, the company reported a net loss of Y13.0 billion ($118 million) for the year ended March 31 2016, after booking Y44.2 billion in extraordinary losses associated with recalls, as well as lawsuits in the U.S.

According to a February report by an independent panel, more than 10 automakers have recalled more than 20 million vehicles in the U.S. since 2008 to replace Takata's airbags. It also said deaths of 10 people worldwide have been linked to the defective airbags, which can explode and scatter metal pieces.

Its clients include Honda (HMC) - Get Report, Renault-Nissan and Ford (F) - Get Report. Earlier this month, Honda reported greater-than-expected net losses for the year ended March after booking costs to recall models installed with the faulty airbags.

The independent panel is headed by former Secretary of Transportation and White House Chief of Staff Samuel Skinner.

Lazard Asset Management's Yasu Hatakeyama, Andrew Yearley, Ken Ziman have been advising Takata.

Takata and KKR declined to comment on the report.

(Ford is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings here.)