Japan’s Kokuyo Becomes Sole Owner of Vietnamese Stationery Maker’s Largest Shareholder
Japan’s Kokuyo Group has become the sole owner of TLAT, the largest shareholder in Vietnam’s Thien Long Group. Through TLAT, Kokuyo indirectly holds 46.82% of Thien Long Group’s charter capital. The transaction did not change TLAT’s direct shareholding or the listed company’s outstanding shares or charter capital.
Japan’s Kokuyo Group has become the sole owner of Thien Long An Thinh Investment JSC (TLAT), the largest shareholder in Vietnamese stationery company Thien Long Group Corporation (TLG). According to an announcement, Kokuyo acquired a 46.82% stake in TLAT. Following approval from the relevant Vietnamese authorities, TLAT completed the transfer of all its shares to Kokuyo on November 6, 2026.
Photo courtesy of Thien Long.（VietVance）
After the transaction, TLAT remains a direct shareholder in TLG, with no change in the number of shares it holds. Through TLAT, Kokuyo indirectly holds 45,194,651 TLG shares, representing 46.82% of TLG’s charter capital. The transaction did not change TLG’s total outstanding shares or charter capital.
On December 4, 2025, TLG disclosed plans for a public tender offer for its shares based on information provided by TLAT. Kokuyo will carry out the next steps in accordance with Vietnamese law. TLG said these developments currently have no direct impact on its day-to-day operations and that it will continue to focus on product quality, service standards and operational efficiency.
Founded in 1905, Kokuyo operates in the stationery and workplace solutions sectors. It already sells Campus-brand stationery in Vietnam and has collaborated with TLG on contract manufacturing projects. TLG believes their long-term partnership could create synergies in research, design and product development and support its expansion into regional and international markets.
Source: VietVance
