Fujikura has agreed to sell its entire 60.8% stake in Nishi Nippon Electric Wire to a vehicle backed by funds of Japanese private equity firm Aspirant Group, the Tokyo-listed cable maker said in a filing on 5 November 2026. The price was not disclosed.
Why Aspirant Group (via AGSPC43, a vehicle of fund AG4 LPS and related funds) is buying Nishi Nippon Electric Wire Co., Ltd. (Nishi Nippon Densen) – 83.2% (60.8% from Fujikura, 19.2% from Mitsui Kinzoku, 3.2% from Craftia)
Fujikura said the sale forms part of the energy business restructuring it has pursued since 2020, and that Aspirant's network and know-how in operational improvement should help Nishi Nippon Electric Wire grow.
Deal terms and financing
Fujikura signed a share transfer agreement with AGSPC43, a special purpose company wholly funded by funds managed or advised by Aspirant Group, covering 11,545,430 shares. Fujikura said the undisclosed price was set through a fair process and reflects the company's enterprise value, and that the effect on its results for the year to March 2027 will be minor. Nikkei reported that Aspirant will acquire 83.2% in total by also buying the 19.2% held by Mitsui Kinzoku and the 3.2% held by Craftia; the Oita Godo Shimbun also reported a stake of more than 80%. Kyushu Electric Power held the remaining 16.8% before the deal. Nishi Nippon Electric Wire's subsidiary Seiden Denso also leaves the Fujikura group.
Regulatory approvals and timing
Closing is scheduled for 6 May 2027.
Market context
Founded in 1950 and based in Oita City, Nishi Nippon Electric Wire makes power, communications and prefabricated cables, distribution materials and wire harnesses. In the year to March 2026 it reported non-consolidated revenue of ¥36.9bn, operating profit of ¥2.5bn and net assets of ¥19.8bn.
