Joyson Safety Systems (JSS)

Performance indicators

In 2023, the revenue of Joyson Seyfty Systems Rus LLC increased by 86.4% compared to 2022, and net profit increased 2.4 times.

History

2024: Ulyanovsk MGC Group buys Russian business Joyson Safety Systems

In September 2024, it became known that the Ulyanovsk company MGC Group completed the acquisition of the Russian division of the global manufacturer of automotive components Joyson Safety Systems (JSS). This acquisition was a significant event in the Russian automotive components market, given the departure of foreign companies from the country from 2022. The corresponding petition was granted by the FAS.

According to Kommersant, Joyson Safety Systems previously owned the assets of the Japanese company Takata, which subsequently declared bankruptcy due to a large-scale scandal related to defective airbags. Despite this, JSS maintained its global presence, including 25 countries, and annual revenues of $5 billion. The Russian division of the company, Joyson Seyfty Systems Rus LLC, operated a plant in Ulyanovsk, where steering wheels, seat belts and airbags were manufactured.

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MGC Group, analysts say, is a major Russian manufacturer of automotive components specializing in passive safety systems. By September 2024, the company operates 11 factories where body elements and other components for cars are produced. In 2023, MGC Group has already made a major acquisition by purchasing production facilities for the production of car seats from Magna International, which further strengthened its position in the Russian car kit market.

One of the key factors in the deal was the shortage in the airbag market in Russia, caused by the departure of foreign companies and the rupture of supply chains. Amid the crisis, some Russian automakers, such as AvtoVAZ, have been forced to temporarily produce cars without airbags. According to the reporting of the Russian JSS, the main client of the company was AvtoVAZ, which accounted for 93.65% of all sales in 2023.^[1]

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