Japan's Kokuyo acquires furniture maker HNI India
New Delhi: Japan-based office furniture and stationery brand, Kokuyo, has acquired HNI Corporation's India business in a strategic move to expand its presence in Asia's growing
office furniture market
.
The acquisition is part of Kokuyo's
CCC 2030 strategy
, which aims for USD 3.5 billion in sales by 2030. With an existing footprint in India through
Kokuyo Camlin
, the acquisition of
HNI India
further strengthens the company's position in the region, leveraging HNI's strong local manufacturing capabilities and market reach to drive growth across India and South Asia.
HNI India operates a 3,50,000 square feet manufacturing facility in Nagpur, servicing clients in sectors such as technology, banking, and consulting. As of March 2025, the brand reported revenue of upwards of Rs 200 crore.
Before HNI India, Kokuyo in 2022 acquired HNI's Greater China office furniture business - Lamex.
The acquisition is expected to complement Kokuyo's existing portfolio and extend its reach in India's rapidly evolving office space market. Karan Sachdev, MD, HNI India, commented, 'This acquisition is a strategic step to accelerate our growth in India and strengthen our position in Asia. Our local manufacturing expertise, combined with Kokuyo's global experience, will allow us to offer even more innovative solutions to meet the growing demand for flexible and hybrid workspaces.'
Masahiro Fukui, Managing Officer, Kokuyo, added, 'India is key to our growth story in Asia. By welcoming HNI India into the KOKUYO Group, we are not only investing in infrastructure—we are investing in people, innovation, and the future of work in one of the world's most dynamic economies.'
Despite the acquisition, Kokuyo has committed to maintaining HNI India's existing management structure and workforce. The company plans to rebrand HNI India under the Kokuyo name within the next few months.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
32 minutes ago
- Business Standard
SastaSundar to invest Rs 150 crore in 2 yrs, aims turnaround in FY26
SastaSundar Ventures Ltd is in the process of investing Rs 150 crore over the next two years to strengthen its digital healthcare platform and warehousing infrastructure to make a turnaround and return to profit in FY'26, a company official said on Thursday. The investment will largely be funded through a Rs 145-crore capital pool, created from the Flipkart Health exit settlement and internal treasury income. The Kolkata-based online pharmacy ended its partnership with Flipkart Health earlier this year and relaunched its B2C platform under its own brand. "We are aiming to return to net profit in the current fiscal through strategic initiatives. We are focusing on the execution of these and capital-efficient growth to recover the company from a Rs 122 crore net loss in FY'25. "Out of the Rs 150 crore, about Rs 40 crore was deployed in FY'25, and the remaining Rs 110 crore will be invested in FY'26 and FY'27," SastaSundar Chairman B L Mittal told PTI. To tap into the rising demand for affordable medication, SastaSundar has launched JITO, a curated generics medicine channel under its main brand. "We expect to invest nearly Rs 25 crore to develop the JITO platform to push retail sales," Mittal said. The concept of quality-verified generic substitutes is gaining popularity, offering customers significant discounts compared to branded prescription drugs. With a Rs 50-crore investment planned in technology and AI-driven healthcare tools, the company is targeting to double its B2C business in FY'26, from Rs 144 crore achieved in FY'25. A major portion of this investment will go towards hiring tech and AI talent to build digital consultation, diagnostics, and personal health profiling tools, Mittal recently informed investors in a conference call. On the distribution side, 250 Health Buddies are currently active post the Flipkart exit, and the company expects this number to rise to around 400 by the end of FY'26, he said. On the B2B front, RetailerShakti, which supplies to pharmacies, delivered a strong performance with revenue nearly doubling to Rs 941 crore in FY'25, he said. The company is targeting EBITDA breakeven for RetailerShakti in the last quarter of FY'26. By FY'30, SastaSundar aims to achieve a blended EBITDA margin of 4-5 per cent.
Business Standard
33 minutes ago
- Business Standard
Core Investment company within Aditya Birla Group, Pilani Investment reports Net Profit of Rs. 98.46 crore for the FY 2024-25
VMPL Kolkata (West Bengal) [India], June 20: Pilani Investment and Industries Corporation Ltd (BSE: 539883, NSE: PILANIINVS), a Core Investment Company within Aditya Birla Group, primarily focused on managing investments in other Birla Group companies and providing them with financing has reported a net profit of Rs. 98.46 crore for the FY 2024-25. Total income of the company during the year ended March 2025 was reported at Rs. 307 crore, 7% higher the previous year total income of Rs. 286.3 crore reported in FY 2024. The company has recommended dividend of Rs. 15 per equity share of face value of Rs. 10 each for the FY 2024-25. The company has received approval from RBI and received fresh Certificate of Registration on conversion of the Company from Non-Banking Financial Company (NBFC-ICC) to Core Investment Company (CIC). The board of directors of the company also considered and approved, increase the borrowing powers of the company up to Rs. 3,500 crores, which is subject to approval of the Shareholders at the ensuing Annual General Meeting of the Company. The company has recommended dividend of Rs. 15 per equity share of face value of Rs. 10 each for the financial year 2024-25, subject to the approval of the shareholders at the ensuring annual general meeting scheduled to be held on 30th June 2025. The company has fixed Monday, 23rd June 2025, as the 'Record Date' for the purpose of determining the entitlement of Members to receive the aforesaid dividend for the financial year ended 31st March, 2025. Promoter group of company holds 57.55% of the company as on March 2025. Pilani Investment and Industries Corporation Limited is registered as a non-deposit-taking NBFC with the Reserve Bank of India. It functions as a core investment company with main activity being investment in shares and securities of the Aditya Birla group companies and providing finance to them.
&w=3840&q=100)
Business Standard
33 minutes ago
- Business Standard
PM Kisan 20th instalment date: How to complete Aadhaar-based OTP e-KYC
PM Kisan 20th instalment date: Farmers across the country are eagerly awaiting the 20th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme, a crucial financial lifeline for millions. But to receive the upcoming payout directly into their Aadhaar-linked bank accounts, beneficiaries must complete the mandatory e-KYC process as per government guidelines. PM Kisan 20th instalment: Expected date Since instalments are released every four months, and the last was distributed in February, the 20th instalment is likely to be credited by the end of June 2025. Is e-KYC mandatory PM Kisan Instalment? Yes, e-KYC is mandatory. It helps ensure transparencPM y by verifying the identity of genuine beneficiaries and eliminating middlemen, thus enabling direct benefit transfers to farmers' accounts. How to complete Aadhaar OTP-based e-KYC to receive PM Kisan instalment? Here's how to complete Aadhaar OTB-based e-KYC: Visit the official PM-Kisan portal: Click the 'e-KYC' option at the top right. Enter your Aadhaar number. Submit the OTP received on your Aadhaar-linked mobile number. Upon successful OTP verification, your e-KYC will be marked as complete. PM Kisan: How to complete face authentication e-KYC via Mobile App? Here are the simple steps to complete face authentication e-KYC via the Mobile App: Open the PM-Kisan app and log in with your registered mobile number. Navigate to the Beneficiary Status section If e-KYC shows as 'No', click on 'e-KYC' Enter your Aadhaar number and give consent for a face scan Once your face is successfully scanned, the e-KYC will be updated (status reflects within 24 hours) What is PM-Kisan? The Pradhan Mantri Kisan Samman Nidhi, launched by the Ministry of Agriculture and Farmers Welfare, provides financial support of ₹6,000 per year to eligible small and marginal farmers. This amount is disbursed in three equal instalments of ₹2,000 every four months. As the 20th instalment is expected soon, all eligible farmers must complete their e-KYC promptly to avoid missing the upcoming payment. It's advised to regularly check your beneficiary status and complete the process well in advance.
