WOOD ONE to Close Northland Plant Following Labor Talks

TOKYO, Jul 15 (Pulse News Wire) – Wood ONE CO.,LTD. (7898.T) announced today that its subsidiary, Juken New Zealand Ltd.

(JNL), will close its Northland plant effective August 2026. The decision follows labor negotiations aimed at improving JNL's profitability and competitiveness. JNL operates two forests and three factories in New Zealand. The Northland plant, located in Kaitea, specializes in veneer production and will cease operations due to ongoing restructuring efforts. Efforts to find suitable buyers for the veneer manufacturing functions have been unsuccessful, leading to the closure decision.

Discussions are underway to sell remaining assets such as land, buildings, and equipment. Other facilities, including the Waipara mill and Gibbon logging operation, remain unaffected by the reorganization plans. The company stated that it continues to explore various options for further restructuring. In addition, the company reported that employees affected by the closure will either be transferred to other locations within the group or retire. The impact of this restructuring was partially reflected in the impairment losses recorded during the fiscal year ending March 2026.

However, potential future changes could affect the company’s performance, which will be disclosed promptly if significant developments occur.