KOKUYO Co., Ltd. (7984) said on Nov. 6 it has completed the acquisition of all shares in Thien Long An Thinh Investment Corporation (TLAT), the main shareholder of Thien Long Group Corporation (TLG), indirectly acquiring 46.82% of TLG's outstanding shares.
The deal is part of a plan announced on Dec. 4, 2025, under which Kokuyo would acquire TLG's common shares, including through a tender offer, to make it a subsidiary. TLAT is wholly owned by TLG's founders and others. Kokuyo said it closed the purchase after obtaining the necessary approvals from Vietnamese authorities.
A stock dividend at TLG increased its total shares outstanding, raising the number of shares Kokuyo holds indirectly, though its voting-rights ratio was unchanged.
| Item | Before share increase | After share increase |
|---|---|---|
| Shares acquired (indirect) | 41,086,047 | 45,194,651 |
| Voting-rights ratio | 46.82% | 46.82% |
Kokuyo said the impact of the TLAT acquisition on its consolidated results for the current fiscal year will be minor.
Next steps: TLG's board resolved on Nov. 4, 2026, to submit a proposal to elect directors nominated by Kokuyo to an extraordinary shareholders' meeting scheduled for Dec. 7, 2026. If approved, Kokuyo's nominees will hold a majority of TLG's board, and Kokuyo plans to make TLG a consolidated subsidiary as of Jan. 1, 2027. The company said it will promptly disclose the impact on its consolidated results for the fiscal year ending December 2027 once it becomes clear.
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