Sumitomo Forestry Establishes New Subsidiary to Boost U.S. Housing Operations

Sumitomo Forestry Co ( (JP:1911) ) has issued an announcement.

Sumitomo Forestry Co., Ltd. announced the establishment of a new specified subsidiary, Edge Land, LLC, through its wholly owned subsidiary, Sumitomo Forestry America, Inc. This move is aimed at securing a stable, long-term supply of land for Edge Utah HoldCo, LLC, a subsidiary involved in housing development in Utah, USA. The establishment of Edge Land, LLC is expected to enhance Sumitomo Forestry’s operations in the U.S. housing market, although the financial impact is still being assessed.

More about Sumitomo Forestry Co

Sumitomo Forestry Co., Ltd. is a company operating in the forestry and housing development industry. It focuses on providing sustainable forestry services and developing housing projects, with a market focus that includes operations in the United States.

YTD Price Performance: -9.02%

Average Trading Volume: 165

Technical Sentiment Signal: Hold

Current Market Cap: $6.19B

For an in-depth examination of 1911 stock, go to TipRanks’ Stock Analysis page.