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Thiên Long Group (TLG) held its annual general meeting this morning, drawing a large number of shareholders as seats were filled early. During the management Q&A, CEO Tran Phuong Nga said the number of questions received this year was “very high” compared with previous years.
Responding to questions about the sale of shares to Kokuyo Group (Japan), Chairman of the Board Co Gia Tho said he felt reassured because the transferee is a Japanese company. He described Kokuyo as an established firm with a culture of longevity.
“I feel somewhat at ease handing Thiên Long to a company like that,” Tho said.
In an interview with VnExpress, Tho said he wants Thiên Long to become a long-lived brand similar to Kokuyo’s. He added that, based on Kokuyo’s past deals, the company’s approach is to invest while preserving the local brand rather than pursuing a typical takeover.
Kokuyo is a group with more than 100 years in the stationery and enterprise solutions sectors, with a strong global network. The company has also been a long-term partner of Thiên Long for contract manufacturing based on Kokuyo’s designs.
In Vietnam, Kokuyo offers multiple product lines, particularly Campus notebooks. Tho said this could be a major step in Thiên Long’s globalization strategy. He noted that the deal would help TLG learn governance models, accelerate product improvements, and expand the market to ASEAN and other countries, bringing “Made in Vietnam” products to more consumers worldwide.
Thiên Long Group was founded in 1981 by Co Gia Tho, growing from a small workshop into a leading pen and stationery company. The company is known for ballpoint pens under its own brand and other brands including Flexoffice notebooks, Bizner premium pens, and Colokit art supplies. Through early export participation, its products are present in more than 75 countries and territories.
Late last year, Đầu tư Thiên Long An Thịnh, the largest shareholder holding 46.82% of TLG, said it was negotiating with Kokuyo Group to transfer all of its shares. In addition, Kokuyo is expected to launch an open offer to purchase another 18.19% of TLG. If successful, Kokuyo’s ownership would reach 65.01%, making Thiên Long a subsidiary.
During the shareholder dialogue, Co Gia Tho said he regards Thiên Long as his “spiritual child” after 45 years in the business. He stated that he always feels responsible for supporting new investors to ensure the company’s sustainable development, emphasizing his “deep affection and great responsibility” toward TLG’s growth.
“Whatever the circumstances, I will always worry about the group’s development and place shareholders’ interests above all,” he asserted.
When asked about taking on other board roles, including Nam Book Publishing, Tho said it would not change his priority for Thiên Long. He said that in the near future, he will help the partner implement governance and development tasks.
For this year, TLG targets revenue of VND 4,400 billion, up more than 5% year-on-year. The group expects net profit could fall slightly by more than 1% to VND 440 billion, citing long-term growth investments and input-cost pressures.
TLG said it will adhere to a “glocalization” strategy, leveraging strengths in the domestic market to apply internationally and vice versa. It plans to focus resources on expanding international markets, increasing product value, and optimizing operating capacity.
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