The chairman and president of troubled Japanese airbag maker Takata said he would step down once he was ready to hand over management, after apologizing for the troubles caused by the company's airbag inflators. He spoke to shareholders at a general annual meeting held in Tokyo on Tuesday, June 28. This was the first time Shigehisa Takada, who has been at the helm of the company founded by his grandfather since 2007, announced publicly of his intention to resign. Takata shares spiked 15% at the opening of the afternoon trading when the meeting ended, and closed the day up 2.2%. The Tokyo-based company, which also manufactures seat belts, steering wheels, and child seats, has booked net losses for two consecutive years.