Japan's Kokuyo to acquire HNI Corporation's India business
Japanese business Kokuyo Company Limited has entered into a definitive agreement to acquire HNI Corporation's India business, HNI Office India Ltd, as part of its long-term strategy to strengthen its presence in the Indian commercial workspace and retail segments.
'This acquisition brings together two complementary players,' said HNI India's managing director Karan Sachdev, Indian Retailer Bureau reported. 'Becoming part of the Kokuyo family enhances our ability to deliver innovative, human-centred workplace solutions tailored for the Indian market.'
The acquisition supports Kokuyo's 'CCC 2030' vision—launched in 2021—which targets USD 3.5 billion in net sales by 2030. The 'CCC' (Change, Challenge, Create) framework is built on the company's 'Forest-Type Management Model,' aimed at promoting sustainable and organic growth across work, learning, and lifestyle segments.
HNI India, known for its office furniture manufacturing and use of Japanese kaizen principles, is expected to expand Kokuyo's manufacturing base and customer network in India and neighbouring Asian markets. The company currently operates in major Indian cities and will support Kokuyo's regional growth plans. The move is designed to reinforce Kokuyo's commitment to India and is expected to broaden its reach in the evolving South Asian workspace market.
'India is key to our growth story in Asia," said Kokuyo's managing officer Masahiro Fukui. "With HNI India's strong customer base, we gain an ideal platform to accelerate Kokuyo's 'glocal' workstyle strategy across Asia.'
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