KARIYA, JAPAN, Sept 13, 2024 - (JCN Newswire) - DENSO Corporation today announced it has decided to transfer all its shares in NiPPA Co., Ltd. (NiPPA), a DENSO group company, to a special purpose company called NiPPA Holdings. NiPPA Holdings' entire stake is held by a fund operated by Nippon Mirai Holdings Co., Ltd. (NMC). The transfer of all shares of NiPPA held by DENSO (effective September 30, 2024) and the conversion of NiPPA into a wholly owned subsidiary by NiPPA Holdings (effective October 1, 2024) were resolved at NiPPA's shareholders meeting today.
Since its founding in 1936, NiPPA has operated as Nihon Pakkin Manufacturing Co., Ltd., with its main businesses being complex precision stamping, insert molding and radiator cap manufacturing. Since DENSO's equity participation in 1992, NiPPA, which excels at manufacturing high-precision parts and possesses strong engineering capabilities, has refined its technologies, enhanced its competitiveness and grown through joint development of different thickness drawing*1 and other technologies.
Amid changes in the business environment, such as the spread of electrification and advances in autonomous driving technology, DENSO and NiPPA have examined how they can continue to create social value and sustainable business growth. DENSO decided to transfer its NiPPA shares to better promote NiPPA's expansion into non-automotive fields. The move allows NiPPA to leverage the technologies and skills acquired by NiPPA under NMC, which has extensive experience in supporting growth strategies of the manufacturing industry, thus enabling NiPPA to continue sustainable growth.
DENSO will continue to reform its business portfolio and contribute to the further development of the mobility society by actively working to maintain and strengthen its supply chain while taking into account the future business plans of its business partners.
(1) A processing technique to partially change the thickness of stamped parts
For more information visit https://www.denso.com/.
Source: Denso
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