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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Kenichi Hori) announced that it entered into an agreement to acquire additional shares in New Forests Pty Limited ("New Forests", Head Office: Sydney, Australia). As part of the new agreement, Mitsui will own approximately 49% of New Forests shares from its previous 22.98% shareholding. Nomura Holdings ("Nomura", Head Office: Tokyo, President and Group CEO: Kentaro Okuda) also entered into this same agreement and will acquire a 41% shareholding in New Forests.
New Forests is the second largest forestry asset management company in the world and the largest one in Asia and Oceania, with AU$ 7.8 billion in assets under management across over 1.1 million hectares of investments. In addition to investing in sustainable forestry plantations and landscapes through its funds under management, New Forests also supplies certified plantation forest products across Asia and Japan and aims to identify value in other revenue streams such as carbon credits. While delivering long-term, sustainable returns for institutional investors as an asset manager, New Forests' vision is to see investment in land use and forestry become central to the transition to a sustainable future. New Forests aims to achieve this by focusing on nature based solutions, the circular bioeconomy, and shared prosperity for the communities in which it operates.
Since Mitsui's initial investment in 2016, New Forests is a Mitsui's core company in the forestry investment business and Mitsui cooperates with New Forests in developing businesses, such as the establishment of the forestry carbon credit fund. By acquiring the additional shares and becoming the largest shareholder, Mitsui will work with New Forests to contribute to the realization of a net-zero emission society and a circular bioeconomy. Nomura's strong Japanese and global distribution market will also help New Forests expand its global footprint. Together, Mitsui and Nomura will support the expansion of New Forests' business and its assets under management.
The acquisition of the additional shares is subject to regulatory approvals, and is expected to be completed by the end of December 2022.
|Name of Company
|New Forests Pty Limited
|Nature-Based, Real Assets Investment Management
“Build brighter futures, everywhere” as our corporate mission, and to gain the trust and expectations of our stakeholders to realize a better tomorrow for earth and for people around the world, we have identified five material issues (“Materiality”) for Mitsui’s sustainable growth. We anticipate this particular project/ business to contribute especially to the realization of “Create an eco-friendly society”
Secure sustainable supply of essential products
Enhance quality of life
Create an eco-friendly society
Develop talent leading to value creation
Build an organization with integrity