NGK Spark Plug is to change its corporate name to Niterra from the start of financial year 2023.
The decision was taken at a recent shareholders meeting in Japan and reflects that spark plugs are only one part of the business, which now includes sensors and technical ceramics for non-automotive industries including medical equipment.
‘Niterra’ – is a made-up word, which combines the Latin words ‘niteo’ meaning ‘shine’ and ‘terra’ meaning earth. No logo or typeface for the new name has been announced by the company so far.
“‘Niterra’ is a key milestone in the transformation which we are undergoing,” says Damien Germès, President & CEO of NGK Spark Plug Europe and Corporate Officer of the Global Headquarters in Japan. “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.”
The firm’s spark plug and automotive sensor products will still bear the NGK and NTK brands respectively.
Re-naming companies to set them apart from their core product is not unusual. In the world of tech, Facebook established it’s ‘Meta’ parent company in 2021, while Google created Alphabet as its parent in 2015.