Report: Takata expected to plead guilty, pay $1B

Troubled air bag maker Takata is reportedly set to reach a criminal settlement with U.S. prosecutors that will require payment of some $1 billion in fines, restitution and victim compensation, as well as a guilty plea on wire-fraud charges, the Wall StreetJournal reported Thursday.

The deal between the Japanese auto supplier and the U.S. Department of Justice would mark the second significant criminal settlement in a major automotive case in the final days of the Obama administration.

Volkswagen agreed Wednesday to pay $4.3 billion in criminal and civil penalties and to plead guilty to charges that it conspired to cheat emissions standards and obstruct justice.

Takata is poised to plead guilty to help resolve a scandal over defective air bags that are susceptible to exploding in crashes. The flaw has spawned the largest recall in U.S. history and already cost the company up to $200 million in civil penalties in a deal with the National Highway Traffic Safety Administration.

The Journal reported that Takata is set to pay $850 million as restitution to automakers, devote $125 million to a victim compensation fund, pay $25 million in criminal penalties and submit to an independent compliance monitor. The deal reportedly could be announced as early as Friday.

Spokespeople for the Justice Department and Takata declined to comment.

The air bags have been blamed for at least 11 deaths and 184 injuries in the U.S.

A deal with the Justice Department is viewed as a necessary precursor to Takata's likely bankruptcy filing later this year, after which the company is set to be restructured or possibly sold as automakers and regulators seek to speed up recalls.

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.