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Takata turnaround plan buoys Ningbo Joyson stock

Chinese parts supplier's US unit to sponsor air bag maker through bankruptcy

KEIICHIRO MORIYASU, NQN staff writer | China

HONG KONG -- Shares in Chinese auto components supplier Ningbo Joyson Electronic jumped on Friday, following reports that its U.S. subsidiary will likely sponsor the rehabilitation of troubled Japanese air bag maker Takata.

The stock hit a high of 31.38 yuan in Shanghai trading, up 0.59 yuan, or 1.9%, from Thursday. The price had not touched that level since May 17.

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