Sector Focus: Panel Products: Nankai Plywood | 37


The business has three sites in Indonesia making products, with a new factory established in 2025. This investment essentially moved the company back directly into plywood manufacturing again. The Indonesian operations produce lightweight falcata core panel products - a value-added and targeted offering. Coupled with the Indonesian operations, Nankai has made two acquisitions in France – the first being the Rolpin plywood manufacturing business in 2014 –and the second in 2025 when it acquired another French plywood manufacturer – Joubert - expanding its global footprint and route to market. More than 1,800 employees are now employed worldwide.


NANKAI EXPANSION


Nankai Plywood is listed on the Tokyo Stock Exchange and its most recent set of annual financial accounts – covering the period ended March 31, 2025 – show a turnover of €136.5m (2024: €130m) and pre-tax profit was €9.9m (2024: €5.4m). These figures do not yet include the Joubert business – which has a €70m annual turnover.


Ryohei Oshima, Nankai Plywood European


market account manager, explained to TTJ that 2024 was a more difficult trading year – a common experience for companies globally. But he said Nankai had a good Q3, 2025 and is optimistic on business prospects based on its product offering and market positioning. By this time next year, the Joubert figures will be incorporated into the group financial results.


Mr Oshima estimated the size of the plywood market in Japan at approximately JPY400bn as of 2024, with stable demand mainly driven by residential construction. “Looking ahead, supported by the promotion of wooden and timber-based buildings as well as the expansion of environmentally conscious construction, the market is expected to grow to approximately JPY500bn by 2033,” he said. “The plywood market is therefore regarded as a sector with stable mid- to long-term growth potential.


“It was about 30 years ago when we struggled to find a solution for the market,” added Mr Oshima. “Demand for traditional plywood was reducing in the Japanese housing market, and we needed a solution. “Our name is Nankai Plywood, but we believed we should not just consist of the plywood business but use our knowledge to develop other products.


“In Japan, where living spaces are relatively small compared to Europe, storage furniture plays a particularly important role. “Therefore, we have developed and


marketed a variety of storage solutions, including adjustable shelving systems, and now hold the top market share in Japan.”


The Joubert Group joined Nankai Plywood in 2025. Photo: Joubert okoumé plywood


The company recognised the potential of using plantation timber in Indonesia at an early stage, specifically low-density lightweight falcata wood - Albizia falcataria (L).


“Lightness is important and our product brings differentiation from others in the market. It is being accepted in the market.” Nankai already had links with Indonesia, as it had bought plywood in the past from the country. So, it set up operations in Indonesia and embarked on a gradual shift to source its panel products, based on falcata core, from the country.


Nankai’s Indonesian operations now consist of the Gresik factory close to the second largest city in Indonesia, with a big port for good logistics. This site covers 11ha and manufactures storage materials with a capacity of 6,500m3


By producing laminated timber and plywood/LVL at the same site, the company optimizes timber procurement and ensures enhanced traceability in manufacturing. The opening of the Jember factory was important as it directly involved Nankai in plywood manufacturing again. The products manufactured there are exported not only to the Japanese market but also to overseas markets.


Nankai’s Barecore product is a falcata blockboard panel product consisting of laminated sections of solid falcata wood. The product has a density of 250-350Kg/m3


and


is produced in lengths of 2980mm & 4150mm and widths of 1225mm & 1450mm, with 20mm thickness.


per month. The


Lumajang factory covers 3.6ha, manufactures 2,500m3


per month of the Nankai Barecore


product and has 10.2ha of falcata plantation forest nearby.


Last year Nankai established its third factory in the Jember area of East Java, Indonesia to further strengthen the stable supply system for its core falcata sustainable timber.


The Jember facility, which started operations in September 2025, produces Barecore, plywood, LVL and the NaSFa product. Nankai has further plantation forests in Jonbok and Banaran.


The majority of the Jember Plant’s production is expected to be supplied for non-structural applications such as door cores, window frames, and furniture. Plywood production will focus on proposals for applications such as caravan interior materials, leveraging falcata’s lightweight characteristics and excellent workability.


The J-Light Board product consists of a falcata core and 2.5mm thick MDF faces (the latter sourced from New Zealand). The latter is seeing strong demand in Japan for adjustable shelving products and has been widely adopted by the Japanese housing market.


The product, which is also used as an interior panel in France, can also be surfaced with decor.


Another product is NaSFa (Nankai Strong Falcata) Plywood, consisting entirely of falcata veneers which undergo a resin treatment process to improve durability and strength.


The NaSFa proprietary processing technology is aimed at unlocking new possibilities for falcata wood. It addresses previous challenges associated with Falcata, such as screw withdrawal resistance and bending strength, and is applicable to both plywood and LVL products. Technical development is currently underway to achieve stable mass production, with commercial sales targeted for fiscal year 2026.


www.ttjonline.com | Summer 2026 | TTJ


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69