TOKYO, Mar 26 (Pulse News Wire) – Wood ONE CO.,LTD. (7898.T) approved a restructuring plan for its New Zealand subsidiary, Juken New Zealand Ltd., at today's board meeting.
The plan involves reorganizing operations in Northland and Taipa and initiating labor consultations. Background and Purpose: Wood One Group aims to optimize its portfolio and enhance capital profitability by considering capital costs and stock prices. In light of rising manufacturing costs due to global inflation, exchange rate fluctuations, and declining housing demand in New Zealand and Japan, the group decided fundamental changes are necessary to improve profitability and achieve early profitability for Juken New Zealand Ltd. Details of Reorganization: Juken New Zealand Ltd., headquartered in New Zealand, operates two forests and three factories. The Northland factory and Taipa factory, which produce veneer and wood panels respectively, are targeted for reorganization.
Other facilities such as the Whirairapa sawmill and Gibbon log yard remain unaffected. Capital Structure: Juken New Zealand Ltd. has a capital of $251 million New Zealand dollars. Future Outlook: While specific reorganization details are yet to be determined, the impact will be reflected in the consolidated results for the fiscal year ending March 2026. Further updates on the reorganization and its effects on future performance will be disclosed promptly once finalized.
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