NEW YORK and TOKYO, March  23, 2026  (GLOBE NEWSWIRE) -- Apollo (NYSE:APO) today announced that Apollo-managed funds (the &#34;Apollo Funds&#34;) have entered into definitive agreements to execute a series of transactions to

Apollo Funds Announce Strategic Investment in NSG Group, a Global Leader in Glass Manufacturing

Apollo Funds to Acquire Nippon Sheet Glass for $3.7 Billion

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>NEW YORK and TOKYO, March  23, 2026  (GLOBE NEWSWIRE) -- Apollo (NYSE:APO) today announced that Apollo-managed funds (the &amp;#34;Apollo Funds&amp;#34;) have entered into definitive agreements to execute a series of transactions to</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Apollo has announced a substantial $3.7 billion acquisition of Nippon Sheet Glass, marking its largest private equity investment in Japan. This move aims to bolster NSG&#039;s financial stability and growth potential in energy-efficient glass products, likely enhancing Apollo&#039;s market position upon completion in March 2027.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Apollo Funds to acquire Nippon Sheet Glass for $3.7 billion.</li><li>Deal is Apollo&#039;s largest private equity investment in Japan to date.</li><li>Transaction aims to support NSG&#039;s financial position and growth.</li><li>NSG to capture demand for energy-efficient products due to investment.</li><li>Transaction completion expected around March 2027, pending approvals.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Nippon Sheet Glass Company (TSE:5202)</strong>: Acquisition strengthens Apollo&#039;s position in the Japanese market.</li><li><strong>Panasonic Automotive Systems (TSE:6752)</strong>: Previously invested by Apollo, represents its ongoing commitment in Japan.</li><li><strong>Mitsubishi Chemical (TSE:4188)</strong>: Apollo has a history of investments in this company, indicating strong industry ties.</li></ul>
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  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>This fits under &#039;M&amp;A&#039; as it pertains to a significant acquisition that may reshuffle competitive positions in the energy-efficient glass sector, critical for future growth and market presence.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>APO&#039;s investment could boost its earnings potential through NSG&#039;s growth in energy-efficient products.</li><li>The pending shareholder approval could affect market sentiment towards APO.</li><li>The transaction is a signal of Apollo&#039;s ongoing commitment to expansion in Japan.</li><li>Successful integration of NSG may lead to further investment opportunities in the glass sector.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Apollo Funds&#039; investment in NSG is $3.7 billion.</li><li>NSG&#039;s shareholder meeting for approval is scheduled for late June 2026.</li><li>Transaction completion expected by March 2027.</li><li>This is Apollo&#039;s fifth private equity investment in Japan.</li><li>Approximately JPY 590 billion enterprise value for NSG.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Invest in APO as the strategic acquisition is expected to enhance long-term valuation.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p align="left">NEW YORK and TOKYO, March  23, 2026  (GLOBE NEWSWIRE) -- Apollo (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/APO">APO</a>) today announced that Apollo-managed funds (the "Apollo Funds") have entered into definitive agreements to execute a series of transactions to acquire Nippon Sheet Glass Company, Limited (TSE:5202) ("NSG" or the "Company"), a global leading company in architectural, automotive and solar glass. Upon completion, the transaction will be Apollo Funds' largest private equity investment in Japan to date, totaling nearly $3.7 billion (JPY ~590 billion) in enterprise value.</p>  <p>Under the terms of the agreement, Apollo Funds will invest equity to support the Company's financial position and long-term growth. In conjunction with this investment, NSG's principal lenders will effectively transition a portion of their outstanding loans to equity, reinforcing their commitment and enhancing the Company's growth trajectory by providing for a more stable balance sheet structure for the Company.</p>  <p>NSG Group's diversified manufacturing platform, industry heritage and deep customer relationships position the Company to capture accelerating demand for energy-efficient architectural glass, advanced automotive glazing and performance solar products. With Apollo Funds' investment and strategic support, NSG Group will be able to accelerate growth initiatives, invest in next-generation technologies and continue delivering quality solutions to customers worldwide. The transaction requires NSG shareholder approval at the annual general shareholder meeting scheduled for late June and is subject to regulatory approvals.</p>  <p align="justify">"This investment unites Apollo's scaled industry and operational expertise globally with NSG Group's legacy of manufacturing excellence and innovation," said Tetsuji Okamoto, Lead Partner, Asia Pacific Private Equity at Apollo. "NSG Group is a foundational player in the global glass industry, and this tailored financing reflects the collective commitment of stakeholders across Japan to the long-term success of NSG Group. We look forward to supporting NSG Group's management team and employees through this transformational period to drive performance, innovation and sustainable value creation."</p>  <p align="justify">NSG Representative Executive Officer, President and CEO Munehiro Hosonuma, added, "This partnership with Apollo Funds and our principal lenders enables us to reinforce our financial position, invest in our people and technology and lead the next era of glass manufacturing. With Apollo's deep expertise in manufacturing and long-term partnership, we are prepared to continue delivering for our customers while building a stronger, more resilient enterprise."</p>  <p align="justify">This is Apollo's fifth private equity fund investment in Japan. A committed partner to Japanese corporates, Apollo Funds' activity in Japan includes investments in Panasonic Automotive Systems, a leading global supplier of advanced in-vehicle technologies, Mitsubishi Chemical's Polycrystalline Alumina Fiber Business "MAFTEC" and aluminum businesses from Resonac (formerly Showa Denko) and Mitsubishi Materials combined as ALTEMIRA Holdings.</p>  <p>Subject to satisfaction of customary closing conditions, including regulatory approvals, the transaction is expected to be completed by around March 2027.</p>  <p>For full details on this transaction, please refer to the disclosure materials NSG released today.</p>  <p><strong>About Apollo</strong><br></br>Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2025, Apollo had $938 billion of assets under management. To learn more, please visit <a href="https://www.globenewswire.com/Tracker?data=vpW-COBVUoDn1vrUiIAFVFu0u-rVhx_RQA7t_qEitHWObbwBJlOJ1ZJyQGZCZ9qdCQqu4bCcAqYvzJCObVTSCw==" rel="nofollow" target="_blank">www.apollo.com</a> and <a href="https://www.globenewswire.com/Tracker?data=vpW-COBVUoDn1vrUiIAFVPs-Ij8Z6f1y-qTWk0MoSqCbzdFzZpaRgihFS96xSV6vWTgpHg_UWwTRVbMj75FFLp6ZsB1g263rCzojs1BkhpQ=" rel="nofollow" target="_blank">www.apollo.com/japan</a>.</p>  <p><strong>About NSG Group</strong><br></br>NSG Group is a leading supplier of glass and glazing systems in the business areas of Architectural, Automotive, and Creative Technology. Architectural manufactures and supplies architectural glass as well as glass for the solar energy and other sectors. Automotive serves the original equipment (OE) and aftermarket replacement (AGR) glazing markets. Creative Technology comprises several discrete businesses, including lenses for printers and scanners, specialty glass fibers and glass flakes, mainly glass cord, which is a reinforcing material for timing belts, and Fine Glass products. <a href="https://www.globenewswire.com/Tracker?data=j9yseL-O1MREtyT607WhsM_eF4T4X7bRMm4vyExes6VBR1AAODHaxI8tip9Z1f7fwVhaPU8L6UQvzn-ZbPfUBhnPaKDPqN8BT5Fp962HOu0=" rel="nofollow" target="_blank">https://www.nsg.com</a></p>  <p><strong>Contacts</strong><br></br>Noah Gunn<br></br>Global Head of Investor Relations<br></br>(212) 822-0540<br></br><a href="https://www.globenewswire.com/Tracker?data=Ck5fRXS03Fr-A8Kx9CFdoxeEUmGa9-1WpjQmNylBvUat6UuUatZm9Yx0N7xrhKzCfDvjBubmaBN-3_Dd3MM0AQL2Hnh0d9Z5-WlM6U01qpy5znIPBON8owQYKBqfnuSZWVHhQF0U71ZsMzBwmy68Q4CQodYtvzo95hlYKUc7YxzkWUgmY9kBwnja1ov0KzZXlPRWp_Th8CIshn6ZXFZtMxKItKrRMLBO37XGqOzC4_Y=" rel="nofollow" target="_blank">IR@apollo.com</a></p>  <p>Joanna Rose<br></br>Global Head of Corporate Communications<br></br>Apollo Global Management, Inc.<br></br>(212) 822-0491<br></br><a href="https://www.globenewswire.com/Tracker?data=gHlGXtxOr6olSSxCK5Zv1tRPnInQlYyZp6uYqhYTyHVIjrYFDOOrkG87dMMDpi04ViAnT5IhT1o7sIhtDZGGf3v07AmD4ajfg9r_zxllQNTTEq8ues-6Jt3jtW1a0vSV" rel="nofollow" target="_blank">communications@apollo.com</a></p> <img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTY3NzM0MyM3NTAwMTY3IzIwMDkxNzM="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZDcxYWQxYzMtMDIwNi00OTk5LWJlYTUtMDdmYTM5ZWJhMTc0LTEwMjA3NDYtMjAyNi0wMy0yNC1lbg==/tiny/Apollo-Global-Management-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/24205df4-cb1e-4a5f-89c1-5ebcc2e59b81"><img src="https://ml.globenewswire.com/media/24205df4-cb1e-4a5f-89c1-5ebcc2e59b81/small/apollo-logo-ctr-rgb-pos-xl-png.png" border="0" width="150" height="23" alt="Primary Logo"></img></a></p>

Apollo has announced a substantial $3.7 billion acquisition of Nippon Sheet Glass, marking its largest private equity investment in Japan. This move aims to bolster NSG's financial stability and growth potential in energy-efficient glass products, likely enhancing Apollo's market position upon completion in March 2027.

Apollo Funds Announce Strategic Investment in NSG Group, a Global Leader in Glass Manufacturing

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

M&A

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