Takata (TKTDY) , the Japanese auto parts firm, is expected to file for bankruptcy protection as early as this month, likely representing the largest corporate failure in Japanese manufacturing in the post-war era, Nikkei Asian Review reports.

Takata's liabilities are seen surpassing 1 trillion yen ($9.02 billion) after a huge global recall of air bags connected to deadly explosions.

U.S.-based subsidiary TK Holdings' board is expected to approve a filing for Chapter 11 bankruptcy in Japan later this month.

American auto parts maker Key Safety Systems, owned by China's Ningbo Joyson Electronic, will sponsor Takata's turnaround process.

The new company which will be created under Key Safety is to obtain Takata operations for about 180 billion yen and will continue to supply air bags, seat belts, and other products.

What's Hot on TheStreet

Beware Tesla fanboys: Tesla (TSLA) burning money, but shareholders are the likely ones to blister and feel the pain. The standard 90-day corporate equity lockup period for Tesla, following its $402.5 million stock sale of March 16, ends Thursday TheStreet reports. As a result, Tesla will be free to conduct another stock offering as soon as Thursday, which is a real possibility given the electric car company's debt situation, partly due to its Solar City investment, and need for additional cash. Any new issuance the company may seek would likely need to take place before July, which is when Tesla issues its quarterly report on car sales. Alternatively, an offering could come in late August after Tesla issues its quarterly financial report.

Shares could start to come under pressure.

Mining stocks get whipped: Global mining stocks found themselves in a hole Thursday TheStreet reports, after South Africa's government said that at least 30% of domestic mining assets should be black-owned even if previous black owners sell their stakes. South African-exposed mining companies fell sharply in the wake of the announcement. London-listed Anglo American plc (AAUKF) tumbled 4.4% to 1,013 pence ($23.87) a share, South32 Ltd fell 4% to 158 pence, BHP Billiton plc (BHP) was down 2% to 1,155 pence, Rio Tinto (RIO) fell 2% to 3,079 pence and Glencore plc (GLNCY) fell 2.6% to 279.2 pence. South African gold producers were hit even harder. Sibanye Gold Ltd. (SBGLF) plummeted 6.7% to 1,562 South African rand ($121.38) and AngloGold Ashanti Ltd. (AU) fell 4.8% to 14,015 rand.

Amazon eyes a new prize: Amazon (AMZN) may be preparing a deal to buy Slack Technologies in a deal that could value the messaging startup group at more than $9 billion, TheStreet points out. With Microsoft's (MSFT) deal for LinkedIn being well-received, this deal seems logical for an Amazon that is aggressively expanding into the cloud.

One has to wonder though: why isn't Apple (AAPL) considering Slack or for that matter, Twitter (TWTR) . Each service would provide valuable insight into human behavior from which to build new products and services.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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