China firm in contenders shortlist to save Takata

Tokyo

A YEAR ago, Ningbo Joyson Electronic Corp would have been an unlikely name on a shortlist of candidates to rescue Takata Corp, the Japanese air-bag maker that's behind the biggest safety recall in automotive history.

The Chinese components supplier, founded by a former TRW Automotive Inc executive, made less than a quarter of Takata's annual revenue, employed a workforce that's less than half the size of its peer, and was about 70 years younger. At the same time, the costs linked to a potential bailout for Takata kept ballooning as additional defective air bags in the millions were recalled.