Japanese group Kokuyo plans to acquire majority stake in Vietnam's stationery giant Thien Long

Thien Long on Thursday announced that its top shareholder, Thien Long An Thinh Investment JSC, which holds 46.82 percent of the group’s charter capital, is in the process of negotiating and finalizing a proposed share transfer to Kokuyo.

If completed, the deal would see all shares held by Thien Long An Thinh transferred to Kokuyo.

Alongside the ongoing negotiations, Kokuyo is also expected to conduct a public tender offer for an additional 18.19 percent of Thien Long shares in line with Vietnamese regulations, bringing its intended total ownership to 65.01 percent.

On the stock market, Thien Long shares were trading at VND64,200 (US$2.42) each at the time of the announcement.

A representative of Thien Long said the developments do not affect the company’s day-to-day operations at this stage, noting that all departments continue to function normally and stably.

The group said it remains focused on maintaining product quality, service standards, and operational efficiency, which have shaped its reputation in the stationery industry for nearly 45 years.

It added that details related to the proposed transaction are subject to further steps and will be updated in due course.

Responding to shareholder concerns about a possible change of control, Thien Long said the involvement of Kokuyo, a reputable Japanese partner, is expected to strengthen cooperation in research and design and enhance product value both in Vietnam and abroad.

Kokuyo’s participation is also in line with Thien Long’s ‘glocalization’ strategy to become a global enterprise while maintaining a strong foundation in the Vietnamese market, the corporation added.

For employees, customers, and partners, Thien Long reaffirmed that operations will continue as planned, with no significant personnel or policy changes at present.

In Vietnam, Kokuyo operates business units covering stationery, labeling, and office furniture.

It also owns the Campus brand, which has been available in Vietnam since 2010.

Founded in 1981, Thien Long is widely regarded as Vietnam’s leading stationery brand, offering more than 1,000 products under trademarks such as Thien Long, FlexOffice, Colokit, and Flexio.

The company manufactures for and exports to more than 74 countries worldwide.

In business results, Thien Long reported revenue of VND3.238 trillion, equivalent to $122.6 million, in the first nine months of this year, up nearly 11 percent from the same period last year.

Its after tax profit, however, fell almost 11 percent to VND375 billion, or $14.2 million.