Analysts have said that Takata is at risk of bankruptcy without fresh capital from banks, a new investor or a buyer. Yoichiro Nomura, Takata's chief financial officer, said on May 11 that the company hoped to have a concrete turnaround plan in place by fall. Takata had appointed a committee of five lawyers and other corporate restructuring experts to advise it, he said. Lazard is the financial adviser in the steering committee. The company's hiring of Lazard to oversee a restructuring effort was reported earlier by The Wall Street Journal. Takata is facing mounting financial costs related to its recall of more than 100 million airbags worldwide, as well as a flood of lawsuits from car owners and victims. Early this month, the Transportation Department and Takata confirmed that 17 automakers would recall up to 40 million airbag inflaters across the nation by 2019, on top of 28.8 million recalled previously.