Japan's Kokuyo Group acquired all shares in Thien Long An Tin Investment JSC, placing Thien Long under indirect control by the Kokuyo Group. Procedures, including completion of the TLAT share transfer and a tender offer, are expected to proceed.
On 6 November, Thien Long Group announced that, following approval from the relevant authorities, the shareholders of Thien Long An Tin Investment JSC (TLAT) had transferred all shares in TLAT to the Kokuyo Group. As a result, Kokuyo became the sole owner of all shares in TLAT.
As a result, Kokuyo is expected to indirectly hold 46.82% of Thien Long's capital, consistent with information the company announced as part of the transaction on 4 December 2025. Procedures, including the planned tender offer, will be carried out in accordance with Vietnamese law, and official information will be disclosed as necessary.
Kokuyo had previously indicated plans to acquire all shares in TLAT and conduct an additional tender offer for Thien Long shares. If both transactions are completed, Kokuyo's direct and indirect ownership of Thien Long could reach 65.01%.
Thien Long explained that, at present, the transfer of TLAT shares and related developments would have no direct impact on day-to-day business operations, and that management is preparing for future organizational changes.
Documents for the extraordinary general meeting of shareholders state that 5 directors are scheduled to be removed for the 2025–2028 term. Kokuyo is expected to enter into a 3-year consulting agreement with the chairman after his departure from the board, under which he will serve as honorary chairman.