Notice Regarding the Acquisition of Shares of Teal Jones Louisiana Holdings LLC and the Change of a Specified Subsidiary

Sumitomo Forestry Co., Ltd. (hereinafter, Sumitomo Forestry) is pleased to announce that on March 28, 2025, the Board of Directors resolved to acquire 100% of the shares of Teal Jones Louisiana Holdings LLC (hereinafter, TJLH) through our wholly owned subsidiary Sumitomo Forestry America, Inc. (hereinafter, SFAM), and to begin procedures to make TJLH a consolidated subsidiary.

The acquisition will be carried out in accordance with procedures outlined under the Companies’ Creditors Arrangement Act of Canada and Chapter 15 of the United States Bankruptcy Code. It is subject to approval by the Courts of Canada and the United States. After these procedures, we aim to complete this acquisition by the second quarter of FY2025.

In addition, since TJLH’s capital is more than 10% of Sumitomo Forestry’s capital, TJLH will become a specified subsidiary of Sumitomo Forestry.

Overview of the acquisition of TJLH’s shares

Reasons for the acquisition

Teal Jones-Plain Dealing, LLC (hereinafter, TJPD) is a sawmill located in Louisiana, USA, and a consolidated subsidiary of TJLH. Sumitomo Forestry will make TJPD a wholly owned subsidiary with the aim to expand its business and build a stable materials supply system for our overseas housing business and real estate business through sawmill operations in the southern United States and the sale of wood lumber products, such as dimensional lumber.

Outlook

We are currently studying the impact this event will have on our consolidated financial results for the fiscal year ending December 31, 2025, and will promptly disclose all matters requiring disclosure as they arise.

For full press release click here.

Contact:

Takashi Mizuno – General Manager, Corporate Communications Department – +81-3-3214-2270

Source: Sumitomo Forestry Co., Ltd.