Japan's KOKUYO to Acquire Furniture Company HNI India

KOKUYO Co., Ltd., a leading Japanese enterprise engaged in office furniture and stationery business, today announced the execution of a binding agreement to acquire the India businesses of HNI Corporation, operating under the brand name of HNI Office India. The strategic acquisition is the next milestone in the long-term growth vision of KOKUYO to achieve net sales of USD 3.5 billion in 2030, according to a company statement.

Although the financial details of the acquisition have not been revealed, the announcement points to KOKUYO's status as a world leader in the production of office furniture and business stationery. The company is listed on the Tokyo Stock Exchange and has more than 7,600 employees in Asia. KOKUYO has already made a significant presence in India through its alliance with KOKUYO Camlin, a stationery company, which started more than a decade ago.

The acquisition is likely to strengthen KOKUYO's focus on the Indian market and enable sustained growth in the region. HNI India, with its design-led office furniture and strong manufacturing capabilities, will complement KOKUYO's current strengths and expand its presence in Indian and Asian markets. The announcement highlighted that local knowledge of HNI India will play a pivotal role in propelling innovation, scaling business, and extending customer reach across multiple international markets as part of KOKUYO's Asia growth strategy.