Japanese company Kokuyo plans to buy a 65% stake in Vietnam’s biggest office supplies company Thien Long as a gateway to enter the Southeast Asian market.
Thien Long An Thinh Investment Corporation, which owns 46.82% of Thien Long, said it is negotiating with the Japanese company to sell its entire stake.
Thien Long pens seen in a store. Photo by VnExpress/Quynh Tran |
Kokuyo plans to buy another 18.19% from other shareholders. It expects to complete the deals by November 2026 at approximately JPY27.6 billion (US$178 million).
This implies a valuation of more than VND82,000 (US$3.11) for Thien Long’s share, almost 20% higher than the market price.
The Thien Long management expects the acquisition by the Japanese company to create more opportunities for research and design in line with its global expansion strategy.
Founded in 1981, Thien Long grew from a small workshop into an industry leader in pens and other office supplies.
It is well known for its Thien Long ballpoint pens and brands such as Flexoffice stationery, Bizner premium pens, and Colokit art supplies.
Thanks to its early foray into exports, its products are now present in more than 70 countries and territories.
Kokuyo is a century-old global office supplies firm. In Vietnam, it distributes products under the Campus brand and has collaborated with Thien Long in recent years for manufacturing of customized products.
It said acquiring Thien Long would allow it to leverage the company’s strong infrastructure in pen manufacturing and speed up its global expansion.
It hopes to utilize Thien Long’s strong presence in Southeast Asia and make it its fourth main market alongside Japan, China and India.
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