worâ¢thy. 1. having adequate or great merit, character, or value: a worthy successor. 2. of commendable excellence or merit; deserving; meritorious: an effort worthy of praise. 3. a person of eminent worth, merit, or position.
Japanâs Sumitomo Forestry bought out American house builder. Sumitomo Forestry Co., Ltd. (Tokyo) announced that it bought 60% of share of DRB Enterprises, which owns Dan Ryan Builders (DRB) group in Maryland. DRB is a major house builder on the East Coast and South of the United States. Purchase amount is about 10 billion yen (US$ 90 million).
Sumitomo buys 50pc stake in home builder Henley. JAPANESE industrial conglomerate Sumitomo has taken a 50 per cent stake in Australia's fourth-largest home builder as it seeks new overseas markets to counter Japan's ageing and declining population. Sumitomo Forestry, which builds about 10,000 houses a year in Japan, has taken the stake in Henley Properties. The deal follows at least four years of talks, during which Henley and Sumitomo have been partners in two small outer-Melbourne housing projects.