Thien Long Group JSC (stock code: TLG) announced on November 6 that the transfer of shares in Thien Long An Thinh Investment JSC (TLAT), its largest shareholder, had been completed.

Under the transaction, TLAT's shareholders transferred all their shares to Japan's Kokuyo Group after obtaining the necessary approvals from relevant authorities.

Following the deal, Kokuyo became the sole owner of TLAT. The acquisition forms part of a transaction initially disclosed by Thien Long on December 4, 2025.

TLAT currently holds 45.194 million TLG shares, equivalent to 46.82% of Thien Long Group's charter capital.

Through its full ownership of TLAT, Kokuyo now indirectly controls a 46.82% stake in the Vietnamese stationery company.

Thien Long said TLAT would remain its direct shareholder, with no change in the number of shares held.

The transaction does not affect Thien Long's outstanding share count or charter capital.

The company also confirmed that the change in the indirect ownership structure of its largest shareholder would not directly affect its day-to-day production and business operations.

Thien Long will continue maintaining product and service quality while ensuring operational efficiency.

Kokuyo is expected to proceed with the next stages of the transaction, including a public tender offer for TLG shares under its previously announced plan.

Founded in 1905, Kokuyo is a Japanese group specializing in stationery products and workplace solutions. In Vietnam, the company markets stationery products under its Campus brand.

Thien Long Group traces its origins to 1981 and has grown into one of Vietnam's major stationery manufacturers, offering more than 1,000 products.

Duy Anh