In response to worsening environmental problems and heightened demand for housing and building materials the world over, we are engaging in a number of sustainable businesses overseas- in Asia, North America, Oceania and other regions- that make use of the special properties of trees and wood.
We carefully nurture our trees to produce timber and building materials for use in housing development. We replant trees in the same area after logging to sustain these bountiful forests. This is the Sumitomo Forestry sustainable business model- to utilize the renewable resource of trees and wood. We have also extended our sustainable business model overseas utilizing the special properties of trees and wood to help improve the environmental issues surfacing around the world.
Southeast Asia has long supported worldwide timber demand. However, supply and demand for natural forest timber has tightened up in recent years, with a decline in forested land and stricter control of illegal logging.
Sumitomo Forestry is working to provide a stable timber supply over the long term by increasing production capacity and through large-scale forestation.
With the economic growth in China, the local timber and building materials markets are rapidly expanding, and housing demand is also showing a sudden upsurge. As such, Sumitomo Forestry is working to establish Chinese manufacturing and distribution bases for timber and building materials. We are also expanding our housing business in South Korea in partnership with a local company.
Sumitomo Forestry is committed to continuing to respond to growing timber, building materials and housing demands by strengthening our Chinese and South Korean building materials manufacturing structure and through regional market development.
The Australian housing market is continuing to expand along with sudden population jumps from the country's immigration policies. Sumitomo Forestry has entered the local housing market through a tie-up with a local housing builder. We are expanding our business as a housing builder with a combination of high-level construction expertise and stable supply capacity.
Being home to the world's leading timber exporter and large timber and building materials markets, North America is a major presence on the global stage. Sumitomo Forestry made an early entrance into the North American market, establishing a procuring and exporting infrastructure and also selling spec homes in the region.
