Japan’s Kokuyo has announced the acquisition of a 65.01% stake in Thien Long Group, while HTC International Telecommunication and Evolution Data Centres have established a joint venture to develop large-scale, AI and hyperscale data centres in Ho Chi Minh City and Hanoi.
Kokuyo acquires 65% stake in stationery maker
Japan’s Kokuyo Co., Ltd. has approved two transactions to acquire Thien Long Group Corporation (TLG), a Vietnamese stationery manufacturer listed on the Ho Chi Minh Stock Exchange, in a deal valued at about $185 million.
According to an announcement, the first transaction is the acquisition of shares of Thien Long An Thinh Investment Corporation (TLAT), which currently holds 46.82% of TLG’s shares and is owned entirely by TLG’s founder and associates.
The second transaction is a tender offer through which TLG’s shareholders will be invited to tender their ordinary shares.
Following the transactions, Kokuyo will directly or indirectly acquire up to 65.01% of TLG’s shares, with the latter becoming a subsidiary of Kokuyo.
BDA acted as the exclusive financial advisor to the key selling shareholders on this proposed transaction.
Founded in 1981, TLG dominates Vietnam’s writing tools market and exports to 74 countries. Its “King of Stationery” brand is known nationwide, backed by strong manufacturing and a wide sales network in Southeast Asia.
For Kokuyo, the acquisition is a significant step towards its goal of becoming the top stationery player in Asia by 2030. The transaction is expected to provide Kokuyo access to Thien Long’s established writing tool production infrastructure, expand its business via Thien Long’s sales platform in Southeast Asia, and accelerate its global stationery expansion.
Established in 1905, Kokuyo is one of Japan’s largest office furniture and stationery players specialising in the manufacturing and distribution of office furniture, supplies, stationery, and related products. It is listed on the Tokyo Stock Exchange.
Evolution Data Centres, HTIC set up data centre JV
HTC International Telecommunication JSC (HITC) and Evolution Data Centres (Evolution) have established a joint venture to develop large-scale, AI and hyperscale data centres in Ho Chi Minh City and Hanoi.
The partnership will deliver critical sustainable digital infrastructure to support Vietnam’s rapid digital transformation and growing demand for cloud and AI services with the fastest-growing digital economy in Southeast Asia.
The joint venture is initially focused on two flagship projects, including EcoDC Data Centre in Hanoi—an expansion of HITC’s existing facility in the Hoa Lac Hi-Tech Park; and Ho Chi Minh City Development— new, large-scale hyperscale data centre to meet the surging hyperscale and AI demand in southern Vietnam.
The collaboration will also leverage Vietnam’s renewable energy resources to create environmentally-responsible facilities.
Index Partners acted as the exclusive financial adviser to HITC.
HITC is a member of HTC Telecom Group, operating in the telecommunications and information technology sector in Vietnam. Its core business areas include data centres, transmission services, cloud computing, and comprehensive digitalisation solutions.
Evolution Data Centres is a next-generation data centre platform focused on Southeast Asia, backed by Warburg Pincus LLC and Zero Two. The company develops, owns, and operates high-performance digital infrastructure with a core focus on sustainability, scalability, and local market integration. It is expanding to high-growth markets such as Thailand, the Philippines, and now Vietnam.
