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. "Today is an important day for Autoliv. The formation of Autoliv-Nissin Brake Systems will allow us to offer state of the art brake control and actuation systems to auto manufacturers around the world. It will further enhance our role as the leading safety system supplier for the future car, well integrated with autonomous driving," said Autoliv Chairman, President & CEO Jan Carlson. 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.