WOOD ONE CO ,LTD.
7898・Standard Market・Other Products
Business
Woodone Co., Ltd. is a comprehensive wood building materials and housing equipment manufacturer based in Hatsukaichi City, Hiroshima Prefecture. Its core business is the Housing Materials & Equipment Business, which manufactures and sells flooring materials, interior fittings, storage systems, and housing equipment (kitchens, washstands, etc.) using radiata pine grown in its own forests in New Zealand as the raw material. The company also operates an electricity sales business through wood biomass power generation facilities located on its head office site. Domestically, it conducts proposal-based sales to housing manufacturers and construction firms targeting the new-build, renovation, and non-residential markets. Overseas, it maintains sales channels in the Europe, U.S., Asia, and Oceania markets through subsidiaries in New Zealand, Indonesia, the Philippines, and Hong Kong. Its major customers are building materials distributors and housing manufacturers such as Sumitomo Forestry (12.1% of net sales) and SMB Building Materials (11.0% of net sales).
Business Model
The company secures a stable supply of raw materials from its own forests in New Zealand (managed under sustainable forestry practices), and delivers wood-based building materials and housing equipment—processed and manufactured at plants in New Zealand, Indonesia, the Philippines, and Japan—to end users via domestic distributors and homebuilders. The Housing Materials & Equipment Business accounts for approximately 98% of net sales, with the remainder complemented by the Power Generation Business, which sells electricity under the FIT fixed-price scheme. The structure aims to maintain and improve gross margins through price pass-through and expanded sales of high-value-added products (solid wood, storage, and labor-saving construction products).
Company Strengths
Through Juken New Zealand Ltd., established in 1990, the company has built an integrated production system that internally completes all processes from afforestation and forest management to logging, sawmilling, and processing. Forest certification has been obtained for all forests and plants in NZ, Indonesia, the Philippines, and Japan, providing the ability to secure stable quality and volume of raw materials and to respond to demand for certified materials.
Products from Indonesian Subsidiary (PT. Woodone Integra Indonesia) saw significant growth in exports to Europe/US markets and domestic sales within Indonesia in FY2026 (ending March 2026), with both sales and profit trending favorably year on year. Full utilization of the enhanced door production system allows it to function as a revenue source that reduces dependence on specific markets.
Sales of Interior Fittings (including storage and labor-saving construction products) grew to ¥35,076 million (up 4.9% year on year) in FY2026 (ending March 2026). "Combit Solid J" and "Combit Grade J" received the Wood Design Award 2025. Labor-saving construction and storage products such as "Laundry-no," "Shiagete-ru Shelving Boards," and "Design Stairs" have sold well, reflecting continued progress in the shift toward high-value-added products.
ENVALITH's Perspective
Performance Trend
Revenue reached ¥66,000 million (up 1.3% year on year), recovering to the ¥66,000 million level for the first time in five periods, but operating profit posted a small decline to ¥1,230 million (down 6.1% year on year). Ordinary profit increased significantly to ¥1,792 million (up 233.7% year on year), boosted by non-operating income including foreign exchange gains of ¥439 million and emission credit income of ¥689 million from the New Zealand subsidiary. However, the recording of ¥2,956 million in business restructuring losses under extraordinary losses, including fixed asset impairment at the New Zealand subsidiary, resulted in a pre-tax loss of ¥341 million, and net loss attributable to owners of the parent fell to ¥1,456 million. External factors included domestic housing starts for owner-occupied and built-for-sale detached houses remaining well below the prior-year level, along with continued cost increases due to yen depreciation and inflation. Operating profit over the past five periods has been on a recovery trend from the loss (-¥939 million) recorded in FY2024 (ended March 2024) as the bottom, but FY2026 (ending March 2026) reverted to a net loss, leaving challenges regarding the quality and stability of earnings.
Growth Strategy
Moving away from dependence on newly built detached housing: diversification into renovation, non-residential, and overseas markets combined with higher value-added products
Promoting new customer development in the renovation, commercial facility, and lodging facility markets through exhibitions at "Reform Sangyo Fair 2025" and "HCJ 2026," proposals for LVL materials and the JWOOD construction method for four-story wooden lodging facilities, and development of new products such as the non-combustible veneer wallpaper "Kiori." Demand for insulation retrofitting, driven by the mandatory compliance with energy conservation standards, is also expected to serve as a medium- to long-term tailwind.
Continuing to expand exports to the US, Europe, Australia, and the domestic Indonesian market through the Indonesian subsidiary. In FY2026 (ending March 2026), both sales and profit have continued to trend favorably, functioning as a profit pillar offsetting the sluggish domestic market. The policy is to continue expanding global sales channels centered on this subsidiary into FY2027 (ending March 2027) as well.
Commencing restructuring of the Northland plant and Triboard plant, proceeding with a fundamental review including business transfer and suspension of operations, along with labor-management discussions. A business restructuring loss of ¥2,956 million was already recorded in FY2026 (ending March 2026). Specific details remain undetermined, but the aim is to improve capital profitability through prompt finalization and implementation.
Strengthening proposal-based sales centered on solid wood products, storage products, and labor-saving construction products, while continuing to implement price revisions for flooring materials, interior fittings, and other products. Also focusing on enhancing brand value, as exemplified by "Combit® Solid J" winning the Wood Design Award 2025. Aiming to improve profitability by passing on cost increases through pricing and enhancing added value.
Achieving CO₂ reduction and improved working conditions for drivers through a modal shift enabled by the introduction of dedicated 31-foot rail transport containers (between Hiroshima and Saitama). Strengthening the management foundation through optimized inventory management and improved business process efficiency using DX, while promoting cost reduction through enhanced labor productivity.
Last updated: July 19, 2026