Autoliv and Nissin Kogyo form Autoliv-Nissin Brake Systems

(Stockholm, Sweden, April 1, 2016) – – – Autoliv, Inc. (NYSE: ALV and SSE:
ALIVsdb), the worldwide leader in automotive safety systems, on March 31, 2016
finalized its joint venture with Nissin Kogyo (TSE: 7230.T) 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.

“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. ANBS sales and
operating margin for the nine month period April-December 2016 is expected to be
slightly lower than initially communicated, sales are now expected to be in the
range of USD 400-450 million for the same nine month period.

Beginning with the second quarter 2016 earnings release Autoliv plans to
disclose information about ANBS in line with the other units (ADAS products and
passive safety electronics products) in the Electronics business segment.

Inquiries:

Thomas Jönsson, Group Vice President Communications.          Tel +46 (0)8 58 72
06 27
About Autoliv

Autoliv, Inc., the worldwide leader in automotive safety systems, develops and
manufactures automotive safety systems for all major automotive manufacturers in
the world. Together with its joint ventures, Autoliv has close to 80 facilities
with more than 64,000 employees in 27 countries. In addition, the Company has 20
technical centers in nine countries around the world, with 20 test tracks, more
than any other automotive safety supplier. Sales in 2015 amounted to about US
$9.2 billion. The Company's shares are listed on the New York Stock Exchange
(NYSE: ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in
Stockholm (ALIV sdb). For more information about Autoliv, please visit our
company website at www.autoliv.com.

About Nissin Kogyo

Founded in 1953 with creating advanced value for the environment and safety as
its core themes, Nissin Kogyo is a global developer and manufacturer of
comprehensive brake systems to the OEM automotive and motorcycle markets. Nissin
Kogyo has more than 10,000 employees at 22 facilities in 10 countries around the
world, with reported net sales of 220.9 billion yen in the 2013 fiscal year.
Nissin Kogyo’s shares are listed on the First Section of the Tokyo Stock
Exchange (7230.T). For more information about Nissin Kogyo, please visit the
company website at www.nissinkogyo.co.jp/en.

Safe Harbor Statement

This report contains statements that are not historical facts but rather forward
-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include those that address
activities, events or developments that Autoliv, Inc. or its management believes
or anticipates may occur in the future. All forward-looking statements,
including the anticipated revenue of the joint venture, the consolidation of the
joint venture for accounting purposes, the expansion of the joint venture’s
business and its anticipated product offering and other estimates of future
operating performance or financial results, are based upon our current
expectations, various assumptions and data available from third parties. Our
expectations and assumptions are expressed in good faith and we believe there is
a reasonable basis for them. However, there can be no assurance that such
forward-looking statements will materialize or prove to be correct as forward
-looking statements are inherently subject to known and unknown risks,
uncertainties and other factors which may cause actual future results,
performance or achievements to differ materially from the future results,
performance or achievements expressed in or implied by such forward-looking
statements. Numerous risks, uncertainties and other factors may cause actual
results to differ materially from those set out in the forward-looking
statements. The Company undertakes no obligation to update publicly or revise
any forward-looking statements in light of new information or future events. For
any forward-looking statements contained in this or any other document, we claim
the protection of the safe harbor for forward-looking statements contained in
the Private Securities Litigation Reform Act of 1995, and we assume no
obligation to update any such statement.