Japanese air bag maker Takata Corp. is arranging to file for bankruptcy protection under the civil rehabilitation law after incurring massive liabilities amid a global recall of its air bag inflators, sources close to the matter said Friday.With liabilities exceeding 1 trillion yen ($9 billion), Takata's bankruptcy would be the largest corporate failure involving a manufacturer in postwar Japan.Takata may file for protection from creditors with the Tokyo District Court soon, possibly by the end of this month, according to the sources, and will then need to restructure under court supervisio…READ FULL ARTICLE