Japan’s Kokuyo to secure majority interest.

 

Japan’s Kokuyo has announced a plan to acquire a majority interest in Vietnam's major stationery manufacturer Thien Long Group for around US$178.2 million.

 

The sale sees the Japanese office-supplies giant expand its footprint in South-East Asia, making the region the fourth-largest stationery market in Asia and the sub-continent after China, Japan and India.

 

In the first nine months of this year, Thien Long Group posted a net profit of US$14.26 million) on revenue of US$122.32 million), down 10.7 per cent but up by the same percentage year-on-year, respectively.

 

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