Shriram Pistons & Rings Announces Reorganization of Riken Corporation
New Delhi – Shriram Pistons & Rings Ltd. announced April 1, 2026, that a reorganization of its technical collaborator, Riken Corporation, a Japanese entity holding 21.30% equity in the company, has become effective.Under the reorganization, Riken Corporation has been renamed NPR-RIKEN Nigata Corporation. Certain business divisions and contractual rights/obligations of Riken Corporation have been transferred to NPR-RIKEN Corporation under Japanese law.
The company confirmed that all existing Technical Assistance Agreements and Technical Collaboration Agreements remain in effect, now succeeded by NPR-RIKEN Corporation. This ensures continuity of technical and commercial arrangements. The shareholding pattern remains unchanged, with NPR-RIKEN Nigata Corporation continuing to hold 21.30% equity in Shriram Pistons & Rings.
A confirmation has been executed between the company and NPR-RIKEN Corporation acknowledging the transfer of existing agreements, effective April 1, 2026.
Details of the Agreement
The following table outlines key details regarding the technical agreement:
| S. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the entity with whom agreement is signed | NPR-RIKEN Corporation |
| 2 | Area of agreement | Technical |
| 3 | Domestic/International | The Company manufactures in India and will continue to do so, with sales in both domestic and export markets. |
| 5 | Scope of business operation of agreement | For use of know-how, patents, and trademarks to manufacture and sell specific types of piston rings for internal combustion engines. |
| 6 | Details of consideration paid/ received in agreement | The transfer of know-how and rights to use patents/trademarks is linked to royalty payments, calculated on the sales made by the Company. |
| 7 | Significant terms and conditions of agreement | The Technical Agreements have been in place for over four decades, supporting the domestic automotive industry with advanced technology products that meet prevailing emission norms in India and are at par with global standards. The current agreements remain valid until February 2028. |
| 10 | Rationale and benefit expected | The objective of the agreement is to acquire the latest manufacturing technology and know-how, enabling the Company to serve the domestic & export market effectively and secure new business opportunities with access to advanced technology. |
The technical agreements support the domestic automotive industry and are valid until February 2028.
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