Autoliv, Inc., on March 31, 2016 finalized its joint venture with Nissin Kogyo to form Autoliv-Nissin Brake Systems (ANBS). The joint venture is an important milestone in Autoliv's strategy to be the leader in safety systems for the future car, well integrated with autonomous driving. ANBS combines the current brake control business of Autoliv with a “carve-out” of Nissin Kogyo's automotive braking business.

ANBS joins Nissin Kogyo's world leading expertise and technology in brake control and actuation systems with Autoliv's global reach and customer base to create a global competitive offering competing in the growing global brake control systems market. The joint venture will also further strengthen Autoliv's role as a leading system supplier for autonomous vehicles. ANBS will be part of Autoliv's Electronics business segment (consisting of passive safety electronics products, ADAS products and brake control systems).

Autoliv owns 51% of the joint venture and has management and operational control. Autoliv will consolidate 100% of ANBS in its financial statements. Nissin Kogyo's 49% share of the joint venture's net income will be treated as a minority interest.

Autoliv purchased 51% of the joint venture for JPY 29.7 billion (approximately USD 264 million, using March 31stexchange rates), including pre-closing adjustments and subject to customary post-closing adjustments.