KNM & Partners advised Toyodenso Co., Ltd. (TEC) on the establishment of a joint venture in India with Minda Corporation Ltd. (Spark Minda).

The Firm played a crucial role in advising on this significant cross-border transaction.

The advisory team was led by Mukesh Kumar (Senior Partner) and Mukesh Singhal (Senior Partner), and ably supported by Ashis Goel (Associate Partner).

TEC a leading Japanese manufacturer of switches, sensors, and USB chargers for four- and two-wheelers, and Spark Minda is a prominent Indian automotive components manufacturer.

TEC reported a consolidated revenue of ¥105.30 billion for the financial year ending March 31, 2024, while Spark Minda recorded consolidated revenue of ₹50.56 billion for the financial year ended March 31, 2025, highlighting the scale and strength of both entities.

The joint venture marks a strategic collaboration between TEC and Spark Minda to manufacture and distribute switches, sensors, electronic control units (ECUs), and USB chargers in the Indian market.

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