Serendip Holdings Co., Ltd. (Nagoya, Japan) has signed a joint-venture agreement with NTF India Private Limited to establish a company in India for the development and distribution of automotive interior and exterior parts. The venture will be majority-owned by Serendip’s group company, Mitsuiya Industrial Co., Ltd., with a 51 percent stake, while NTF India will hold 49 percent. The planned share capital is INR 40 million.
The company, provisionally named MINT Mobility Works India Pvt. Ltd., is scheduled to be established during the fiscal year ending March 31, 2026 (i.e., between April 1, 2025 and March 31, 2026). An announcement last month from Mitsuiya indicated a September 2025 target for establishment and commencement of operations. The business will focus on products such as wheel house liners and trunk trims and will handle related export and import activities.
Mitsuiya Industrial’s wheel house liner technology — including de-icing and mud removal capabilities, sound absorption, and reduced vehicle weight — will be combined with NTF India’s manufacturing and quality control systems.
The joint venture aligns with Serendip’s medium-term management plan, “Serendip Challenge 500,” launched in June 2024, which targets JPY 50 billion in consolidated net sales by the fiscal year ending March 2027. The agreement was signed on July 7, 2025.
Serendip Holdings Co., Ltd. is a diversified business group based in Nagoya, Japan, established in 2006. The company operates across several sectors, including professional solutions, investment, and manufacturing. Its professional solutions segment offers services such as business succession support, management consulting, M&A advisory, corporate revitalization, and the dispatch of professional managers and engineers.
In manufacturing, the company produces automotive interior and exterior parts, precision automobile components, and factory automation equipment such as automatic connector and battery assembly machines. With approximately 615 employees, Serendip Holdings plays a significant role in supporting small and medium-sized enterprises in Japan, focusing on fostering growth and revitalization within the corporate sector.
NTF India Private Limited is a prominent manufacturer, developer, and supplier of engineering plastics and advanced composite components, primarily serving the automotive and transportation sectors. Founded in 1996 and part of the wider NTF Group, the company has earned a strong reputation as an OEM supplier to leading automobile brands in India and internationally, including MSIL, Fiat, MG Motors, Volkswagen, and Toyota.
NTF India produces a diverse range of parts such as engine undercovers, parcel trays, and luggage boards, leveraging more than three decades of industry expertise. The company is also expanding into new mobility solutions and advanced manufacturing, supporting fast revenue growth and a broadening customer base.
