Joyson nears troubled Takata

Key Safety's plan for Japanese company gets rescue panel's nod

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.