As Akebono figures out next steps to stay solvent, here is the latest news:
- The Nikkei newspaper initially broke the news that Akebono was seeking debt relief.
- The newspaper followed with an analysis of how the quest for the latest advanced tech is squeezing traditional suppliers.
- Additional coverage from Japan Times.
Akebono’s woes are based in part on aggressive expansion several years ago to supply the U.S. market. The company has not been able to recoup its investment costs. Read about its expansion in South Carolina and Tennessee.