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 Forestry takes half of Wisdom Homes. Japan's home builders are continuing to push into the Australian market, this time with Sumitomo Forestry Co acquiring a controlling 51 per cent stake in Wisdom Properties Group, which builds home and land packages. Wisdom Homes builds about 400 houses annually, with more than 150 employees and 500 construction contractors.