KOKUYO acquired shares in a Tien Long-related company and now indirectly holds 46.82% of the Tien Long Group's shares. It plans to seek an additional 18.19% through a tender offer. The report also outlines the background to the transaction and the group's financial scale.
On 6 November, the KOKUYO Group completed its acquisition of all shares in Tien Long An Tin Investment Co., Ltd., resulting in indirect ownership of 46.82% of the issued share capital of Tien Long Group. It plans to conduct a tender offer to acquire an additional 18.19% of Tien Long's shares.
The total investment is expected to be approximately ¥27.6 billion, with the aim of strengthening KOKUYO's business expansion in Vietnam and the ASEAN region. Building on its existing investment and acquisition framework, the group aims to expand internationally by leveraging its brand strength and distribution network.
Founded in 1905, KOKUYO is a diversified company currently operating across 4 business segments: office furniture, stationery, distribution of equipment and furniture, and retail of household goods. In FY2025, consolidated net sales were approximately ¥359.8 billion, operating income was approximately ¥26.2 billion, and net income was approximately ¥21.4 billion, indicating a business structure in which the furniture business accounts for a significant share.
As part of its long-term strategy, KOKUYO has set a 2030 net sales target of ¥500 billion and is pursuing a growth strategy that includes expanding in overseas markets. Through the acquisition of Tien Long, it aims to strengthen its market share and distribution network in Vietnam and the ASEAN region, reinforce the foundation of its writing instruments business, and accelerate its international expansion.