Toyota has always been very frugal while delivering quality, Volvo was not, so no. And I think you meant 'have' instead of 'of'.

See also: https://en.wikipedia.org/wiki/The_Toyota_Way , pay extra attention to section #2.

Volvo took a much more 'premium' route towards quality, starting with galvanized steel bodies and other such costly measures, as well as producing on less efficient lines than Toyota. Even so, their reputation until the Chinese take-over was excellent, since then the division is as far as I know profitable so maybe this is a happy medium between baked in quality and cost to produce. But it will never go back to the 'tank' status that their older line-up has, which in a way is good because the modern ones fare much better in the crash tests than the oldies, even against mid-range cars in head-on or side-on collisions.

On another note, given the history between the two countries I don't see the Japanese government ok'ing a take-over of one of their prime brands by the Chinese.

See: https://en.wikipedia.org/wiki/China%E2%80%93Japan_relations