Thien Long ballpoint pen before the trillion-dollar deal with the Japanese giant: The turning point of an icon

Thien Long ballpoint pen has been in operation for over 40 years and is present in about 70 countries. The Vietnamese stationery giant is about to be acquired by a Japanese giant for 65% and is a business with explosive growth over the past decade.

TLG is about to fall into the hands of the Japanese

Thien Long Group Corporation (TLG) has just announced that its largest shareholder, Thien Long An Thinh Investment Corporation (TLAT) - holding 46.82% of TLG's capital - is in the process of negotiating with Kokuyo Group to transfer all of its shares.

In addition, Japan's Kokuyo Group plans to make a public offering to buy nearly 16 million additional TLG shares, equivalent to 18.19%, to hold a total of more than 65% of Thien Long Group's shares, making TLG a subsidiary. It is expected that Kokuyo will spend about VND4,700 billion for the above shares, equivalent to a valuation of more than VND7,200 billion, or more than VND82,000/share.

As of the end of the trading session on December 9, TLG shares were priced at VND64,800/share, equivalent to the group's capitalization of VND5,690 billion.

Thien Long brand is familiar to Vietnamese users. Photo: TLG

Kokuyo is expected to complete the purchase of TLG shares held by TLAT in August 2026. After that, the Japanese giant will publicly offer to buy additional TLG shares in October-November 2026.

Kokuyo is a "giant" in the field of stationery and business solutions, with a history of operation of more than 100 years and in Vietnam owns products under the Campus brand and has many cooperations with Thien Long.

After acquiring Thien Long, Kokuyo plans to expand its business operations thanks to TLG's sales platform in ASEAN, turning ASEAN into the Japanese giant's 4th largest market, in addition to the 3 pillar markets: Japan, China and India.

Thien Long's growth has been remarkable over the past decade.

Kokuyo's desire to take control of TLG also comes from Thien Long's strong development foundation over the past 10 years.

Thien Long Group Corporation, formerly Thien Long Ballpoint Pen Factory, was established in 1981 by Mr. Co Gia Tho, who built it from a small factory into a leading enterprise in the pen and stationery industry.

In 1996, Thien Long Ballpoint Pen Factory was transformed into Thien Long Production - Trading Company Limited, and in March 2005 it was transformed into Thien Long Production - Trading Joint Stock Company with a charter capital of 100 billion VND. In 2008, the company changed its name to Thien Long Group Joint Stock Company. In 2010, the enterprise was officially listed on HSX with the code TLG.

Thien Long is famous for its ballpoint pen product of the same name, along with other brands such as Flexoffice stationery, Bizner high-end pens or Colokit art tools.

The company owns a complete supply chain from production to distribution and consumption. With two factories in Ho Chi Minh City and Dong Nai , Thien Long has a total capacity of about 800 million stationery and writing instruments per year, with a very high level of automation. Currently, the company accounts for about 60% of the writing instrument market share in Vietnam. TLG's distribution system includes about 3,800 points of sale at supermarket chains, bookstores and convenience stores nationwide.

An impressive point of Thien Long is the close cooperation with the system of enterprises, banks, factories, hospitals... across the country. Besides, the company also promotes sales on e-commerce channels, including its own website and large platforms.

Thien Long Group Corporation has a very fast growth rate, recording revenue reaching over 1,000 billion VND since 2011.

In 2022-2024, TLG will record revenue of VND 3,500-3,770 billion/year. In the first 9 months of 2025, TLG's revenue will reach about VND 3,240 billion, a sharp increase compared to VND 2,921 billion in the same period.

Profits also increased rapidly, reaching over 100 billion VND since 2012, over 400 billion VND/year in 2022 and 460 billion VND in 2024. However, from 2025, profit margins began to be under pressure. In the first 9 months of 2025, TLG recorded a profit after tax of nearly 376 billion VND, lower than the 421 billion VND in the same period last year.

In May 2025, Thien Long acquired Phuong Nam Bookstore (PNC) - the second largest bookstore in Vietnam. Through PNC's points of sale, Thien Long boosted its stationery sales segment.

Despite dominating the Vietnamese market and exporting heavily to dozens of countries around the world , Thien Long is facing increased competition from domestic rivals and cheap products from China. TLG's profit decline in the first three quarters of the year shows this pressure.

Information about cooperation with Japan's Kokuyo Group could be a direction to help the Vietnamese stationery giant promote research and design activities to develop on a global scale.

The auto giant reports increased profits, but Mr. Tran Ba ​​Duong has not returned to the list of USD billionaires . Truong Hai Group Corporation (Thaco) announced its 2024 financial report with profits increasing compared to the previous year but still quite modest compared to its scale. Chairman Tran Ba ​​Duong has not returned to the Forbes list.

Source: https://vietnamnet.vn/tu-but-bi-thien-long-den-thuong-vu-nghin-ty-voi-dai-gia-nhat-2470871.html