Kokuyo Co., Ltd. is acquiring Thien Long An Thinh Investment Corporation to strengthen its position in the ASEAN stationery market, with plans to secure a controlling interest in Thien Long Group Corporation subsequently.

Target Information

Kokuyo Co., Ltd. (Ticker: 7984) is set to acquire Thien Long An Thinh Investment Corporation (TLAT), which is based in Ho Chi Minh City, Vietnam. TLAT is the parent company of Thien Long Group Corporation (TLG), a prominent player in the manufacturing and sales of stationery products in Vietnam. This strategic acquisition will pave the way for Kokuyo to establish a stronger foothold in the ASEAN market, marking Vietnam as the fourth pillar market for its writing instruments business after Japan, China, and India.

The acquisition is scheduled for completion in August 2026, with Kokuyo planning to secure 100% of TLAT's shares. Following this, Kokuyo intends to conduct a tender offer (TOB) targeting TLG, where it aims to acquire 15,962,552 shares, representing 18.19% of TLG’s shares. This will position Kokuyo to hold a decisive 65.01% of voting rights in TLG post-acquisition.

Industry Overview in Vietnam

The stationery industry in Vietnam has been experiencing consistent growth, driven by an increasing demand for educational and office supplies. With a growing population and a surge in student enrollment rat