Niterra said on 2 October 2026 it has cancelled its planned acquisition of Denso's spark plug and exhaust gas sensor businesses, ending a transfer agreement priced at ¥180.6bn (about $1.1bn).
Why Niterra is buying Denso spark plug and exhaust gas sensor businesses
Denso asked to end the deal, citing market changes including the spread of electrified vehicles and the need to diversify powertrains. Niterra said the extended negotiations had increased uncertainty about the businesses' prospects and complicated integration planning, reducing the value of the deal.
Deal terms and financing
Under the original contract, signed on 1 September 2025 after a 2023 memorandum of understanding, the transfer price was set at ¥180.6bn with a 31 March 2026 reference date, subject to competition approvals in several countries.
Market context
Had it closed, Niterra would have controlled more than half of the global spark plug market. Niterra said the termination has an immaterial effect on current-year guidance but it will revisit its 2030 mid-term plan and capital allocation.
