July 3, 2025
For Immediate Release
Name of Company: Sumitomo Forestry Co., Ltd. (Code No.1911, Prime Market, Tokyo Stock Exchange)
Representative: Toshiro Mitsuyoshi, President and Representative Director Inquiries: Takashi Mizuno, General Manager, Corporate Communications Department
(Tel: +81-3-3214-2270)
Changes in Disclosure Item
Notice Regarding the Completion of the Acquisition of Shares (Subsidiarization) of Teal Jones Louisiana Holdings LLCAs disclosed in the "Notice Regarding the Acquisition of Shares (Subsidiarization) of Teal Jones Louisiana Holdings LLC and the Change of a Specified Subsidiary" issued on March 28, 2025, Sumitomo Forestry Co., Ltd. (hereinafter, Sumitomo Forestry) has been working to acquire 100% of the shares of Teal Jones Louisiana Holdings LLC (hereinafter, TJLH) to make TJLH a consolidated subsidiary. We are pleased to announce that we have acquired the necessary approvals from the relevant courts in Canada and the United States, adjusted various terms and conditions of the acquisition, and completed the acquisition of the shares, making TJLH a wholly owned subsidiary of Sumitomo Forestry. Furthermore, please note the following changes to our disclosure notice issued on March 28, 2025.
Reason for changes
Changes were made due to adjustments to the terms and conditions of the acquisition.
Description of changes
(1) Acquisition price
Before
After
USD $42 million
(approximately 6.2 billion yen)
USD $29 million
(approximately 4.3 billion yen)
Subject to adjustment in accordance with the terms of the purchase agreement
Calculated at 1USD=148.36 yen (exchange rate as of March 6, 2025)
(2) Date of share acquisition
Before
After
June 2, 2025 (scheduled)
July 1, 2025 (US time)
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.