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StocksMediumUpdated•Originally published 24 March 2026•Updated 24 March 2026•
1 min read

Apollo to Acquire Japan's NSG Group in $3.7 Billion Private Equity Deal

Key Facts

1Apollo-managed funds announced an agreement to acquire Nippon Sheet Glass (NSG) for an enterprise value of approximately $3.7 billion (JPY 590 billion).
2The transaction marks Apollo's largest private equity investment in Japan to date.
3NSG is a global leader in glass manufacturing for architectural, automotive, and solar sectors.

Apollo-managed funds have reached a definitive agreement to acquire Japan's Nippon Sheet Glass (NSG) in a transaction valued at approximately $3.7 billion (590 billion yen). This deal is increasingly characterized as a 'rescue' of the glass manufacturer, which has been grappling with significant financial distress. NSG's long-standing financial struggles are largely attributed to its acquisition of UK rival Pilkington nearly two decades ago. Despite these challenges, NSG remains a global leader in glass solutions for the architectural, automotive, and solar energy sectors. Apollo aims to leverage its private equity expertise to stabilize the company and drive future growth through this strategic investment. The transaction represents Apollo's largest private equity commitment in Japan and highlights its focus on distressed assets in the Asian market.