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China firm in contenders shortlist to save Takata

Key Safety Systems, a unit of Chinese components supplier Ningbo Joyson Electronic Corp, was selected over industry leader, Autoliv Inc of Sweden

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If a deal goes through, Key Safety plans to keep Takata's main businesses, including air bags, seat belts and steering wheels, and will move its Asia headquarters from Shanghai to Tokyo.

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

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