Revealing the amount of money the Japanese corporation spent to acquire the 'ballpoint pen king' Thien Long, high or low?

According to information from Kokuyo Group (Japan), they will spend 27.6 billion yen (equivalent to nearly 4,700 billion VND) to buy back more than 65% of Thien Long's shares.

Thien Long ballpoint pens have become a product associated with many generations of students - Photo: TL

In a recent announcement, Kokuyo confirmed that its board of directors has approved two proposed transactions to acquire shares of Thien Long Group Joint Stock Company (TLG) and turn this enterprise into a subsidiary of Kokuyo.

The first transaction is to invest money to buy back shares of Thien Long An Thinh Investment Joint Stock Company (TLAT), the unit that is holding 46.82% of TLG shares and is currently fully owned by the founder and associates of TLG.

The second transaction is a tender offer, in which TLG shareholders will be invited to resell their common shares. Kokuyo plans to establish a special purpose entity to carry out these transactions.

Kokuyo representative said that after completing the transactions, TLG and TLAT will become designated subsidiaries of Kokuyo, as the charter capital of each company is greater than 10% of the group's charter capital.

"The completion of these transactions is subject to the necessary approvals from Vietnamese authorities," Kokuyo informed.

The purchase price for these transactions is estimated by the Japanese group at about 27.6 billion yen, equivalent to nearly 4,700 billion VND.

It is estimated that with the 65.01% stake that Kokuyo plans to hold, this figure will be equivalent to more than 57 million TLG shares. Thus, the estimated purchase price per TLG share is about 484 yen, equivalent to 82,000-83,000 VND.

At the end of the trading session on December 5, the price of each TLG share was 64,200 VND. The total capitalization of this enterprise on the stock exchange was nearly 6,000 billion VND.

Thus, the price that the Japanese corporation paid to acquire the "king of ballpoint pens" Thien Long was about 29% higher than the market price.

According to the balance sheet in the consolidated financial report for the third quarter of 2025, Thien Long had total assets of VND 3,792 billion at the end of September 2025, an increase of 13% compared to the beginning of the year. Liabilities were VND 1,242 billion, an increase of 22%.

The company's equity reached VND2,550 billion, while undistributed profit after tax was VND1,047 billion at the end of the third quarter of this year.

Looking at the business results data range from 2006 to present, it can be seen that Thien Long has maintained continuous growth, except for the COVID-19 outbreak period.

By 2022, the business had regained growth momentum and set records in revenue and profit in 2024, with results of VND 3,772 billion and VND 460 billion, respectively.

Previously, Thien Long Group Joint Stock Company (TLG) announced the above deal. Accordingly, TLG confirmed that TLAT is in the process of negotiating, agreeing and signing a transaction to sell all shares to Kokuyo Group.

Thien Long said they expect "the participation of a prestigious international partner from Japan, Kokuyo, will help TLG expand cooperation space in the fields of research, design, and product enhancement at home and abroad, in line with TLG's strategic orientation of globalization."

BINH KHANH

Source: https://tuoitre.vn/he-lo-so-tien-tap-doan-nhat-bo-ra-de-thau-tom-vua-but-bi-thien-long-cao-hay-thap-20251205090058467.htm