The Sumitomo Spirit - at the core of all our businesses
At the very root of Sumitomo Forestry businesses is the Sumitomo Spirit- the cornerstone of trust in the Sumitomo Group.
The Sumitomo Spirit was set down in the Rules Governing the "House of Sumitomo" in 1891 as Our Business Principles based on the Founder's Precepts, written by Sumitomo founder Masatomo Sumitomo in the 17th century. These principles go beyond simple trade lessons to contain precepts encouraging character development, such as "placing prime importance on integrity and sound management," and "under no circumstances shall Sumitomo pursue easy gains or act imprudently."
Began using timber harvested in neighboring forestlands to fortify the Besshi Copper Mine, where the Sumitomo family started mining operations.
With the advocacy of Teigo Iba, manager of the Besshi Copper Mine, prepared a forestation plan in the spirit of repaying for what had been reaped from the land.
Established the Forestry Department within the Besshi Mining Plant and started the forestry business.
Started forestry business on Sumatra, Borneo, and Java islands to develop resources in southern areas.
・Divided into six companies (including establishment of the foundations of the current Sumitomo Forestry) under the government's zaibatsu* dissolution order.
・The six companies subsequently merged into two companies (Toho Norin and Shikoku Ringyo) through two mergers.
*Zaibatsu: family-run conglomerate operating as an industrial group in Japan.
Toho Norin Co., Ltd. and Shikoku Ringyo Co., Ltd. merged to form Sumitomo Forestry Co., Ltd., and established a nationwide network to procure and sell domestic timber.
Import business for foreign timber started
Started the built-for-sale housing business.
Established a joint venture, P.T. Kutai Timber Indonesia (KTI), in Indonesia and launched a full-scale building materials business based on plywood manufacturing.
Open Bay Timber (OBT) begins operation
KTI builds local plywood plant
Started construction for high-grade, custom-built housing.
Launched the full-scale production of medium-density fiberboard (MDF) in New Zealand at a plant operated by joint-venture company, Nelson Pine Industries Ltd. (NPIL).
・Gained listing of Sumitomo Forestry stock on the First Section of the Tokyo Stock Exchange.
・Joint venture for particle board production in Indonesia, PT. Rimba Partikel Indonesia, is established
・Established Tsukuba Research Institute.
・Started Tropical Forest Regeneration Project in Indonesia.
Established the INOS Group, a partnership of housing construction companies and builders, for the purposes of improving wooden housing construction productivity and the quality of wooden housing.
Joint venture for speaker box production in Indonesia, PT. Ast Indonesia, is established
Inaugurated the Mt. Fuji Manabi no Mori Project to regenerate the mountain's natural forests, which were damaged by a typhoon.
Tsukuba Research Institute developed a mass propagation method for Dipterocarp family trees through tissue culture.
Established Sumitomo Forestry Crest Co., Ltd. through the merger of Sumitomo Forestry Crex Co., Ltd., Sumirin Holz Co., Ltd., Sumirin Plywood Industries, Ltd., and Fuji Incombustible Building Materials Industry Co., Ltd.
・Started providing customers of Sumitomo Forestry's Home with our Long Support System, which includes sixty years of after-sales service.
・Bennett SFS LLC established as a joint venture with local builders in Seattle, WA, U.S.
Started selling built-for-sale housing in Seattle, U.S.A.
Invested in residential housing construction companies in China. Entered the Chinese housing market.
Developed Japan's first "Big-frame Configuration" (wooden beam Rahmen structure).
・Merged with Ataka Kenzai Co., Ltd.
・Entered the custom-built detached housing business in South Korea.
Formulated "Project SPEED"Long - Term Management Plan.
・KTI receives forest management (FM) certification from FSC
・Sumitomo Forestry establishes Australian joint venture Henley-SFC Housing Pty Ltd. and starts Australian housing business
Sumitomo Forestry establishes PT. Sinar Rimba Pasifik