NGK Spark Plug has announced its decision to change its English language company name to ‘Niterra’, following the 122nd Ordinary General Meeting of the Shareholders.
The Group rebrand is said to reflect the journey which the company is currently on and will come into effect at the beginning of the company’s next fiscal year on 01 April 2023.
Ever since its founding in 1936, the company has been synonymous with spark plugs, however, the internal combustion engine (ICE)-related business comprises just one part of NGK Spark Plug. The company also deals in areas such as sensors and technical ceramics.
With the on-going transformation of the automotive industry, the NGK Spark Plug 2030 Long-Term Management Plan, ‘NITTOKU BX’, which was unveiled in 2020, set out the company’s future path. This focused on the portfolio transformation towards environmentally sustainable business fields surrounding Mobility, Medical, Environment & Energy and Communications.
Considering the company’s sustainable business objectives, as well as the forecasted shift away from ICE powertrains, the name ‘NGK Spark Plug’ was said to no longer accurately describe the company’s future direction as a whole.
The Group’s new English company name – ‘Niterra’ – is a coined word, which combines the Latin words ‘niteo’ meaning ‘shine’ and ‘terra/earth’. It has been chosen to express the Group’s desire to be a company that not only contributes to a sustainable society, but also one that makes the earth shine: a goal formulated in the company’s 2040 Vision.
While ‘Niterra’ will become the Group’s overall name, the brands – NGK and NTK – will continue to exist for the company’s respective businesses.
Damien Germès, President & CEO of NGK Spark Plug Europe GmbH, Regional President EMEA and Corporate Officer of the Global Headquarters in Japan, said: “‘Niterra’ is a key milestone in the transformation which we are undergoing. In the coming generations, it will be necessary to think even more about sustainability and what is good for the earth. With our new name, we have taken one more step on our journey to become a company that not only is successful, but also provides new value to the world.”
