Takata : shares indicated higher, company says doesn't foresee court-led turnaround

TOKYO (Reuters) - Shares in Japanese air bag maker Takata Corp were untraded with a glut of buy orders on Thursday after the company, which is in the process of looking for a financial sponsor, said it did not foresee a court-ordered turnaround.

As of the midday close, buy orders outnumbered offers by more than 3 to 1, with the shares indicated at the daily limit high. On Wednesday, they jumped 18 percent, by the daily limit, in reaction to the company's statement the previous day.

Before that, the shares had lost nearly half their value in less than a week after Reuters and other media, citing sources, reported that bidders for Takata were pushing for a court-mediated turnaround for the company's domestic business.

(This version of the story was refiled to correct stock code in first paragraph)

(Reporting by Naomi Tajitsu; Editing by Chang-Ran Kim)