This after the company discovered issues of the airbags manufactured by Takata Corp., which caused injuries and deaths.

The nationwide recall of cars fitted with Takata air bags started early this year especially those that were manufactured between 2009 and 2011.

Honda Motors Co., being Takata's biggest customer, earlier withdrew its air bag inflators from other vehicles while deciding not to go with the same safety equipment for upcoming Honda models.

According to Reuters, defective air bags caused 14 deaths and 150 injuries worldwide. There are nearly 16 models which are fitted with faulty Takata air bags, including Fit subcompact hatchback model, Civic and Accord sedan models.

The total number of vehicles equipped with Takata air bags inflators that were recalled in Japan was around 15.54 million and around 51 million globally. Japan's transport authority forced Honda motors to recall additional 7 million vehicles fitted with faulty Takarta air bags inflators which do not contain a drying agent.

The reasons for the faulty inflators of air bags is the use of ammonium  nitrate as a propellant in the inflators without drying agent, a chemical that can explode or destabilize after long period exposure to heat and moisture.

It is said that there is increasing risk in inflators as the age of it increases.

Takata Corp. is seeking support from financial investors to deal with the billions of dollars of liabilities which the company needs to pay for the issues caused due to faulty air bags system in the vehicles- as per WSJ.

Japan's second largest car manufacturing company's recall decision is the biggest ever product recall in the history of automobile industry.