Final resolution of damages claim litigation concerning a former officer’s unauthorized expenditures
First written in FY2017-Q1. 1 of 3 entries say "Achieved", first in FY2017. Latest entry: FY2017.
0 other companies' latest entry also says "Achieved".
- FY2017AchievedAnnual report
「With respect to 2 of the former directors and officers, an appeal to the Supreme Court had been filed against the appellate court judgment, but on 15 June 2017, the Supreme Court issued a decision dismissing the petition.」
In the damages claim litigation against the 3 former directors and officers, the Supreme Court dismissed the petitions filed by the 2 appellants, bringing the disclosed litigation to an end at the final appeal stage. - FY2017-Q2Proceedings moved to the final appeal stageAnnual report
「With respect to 2 of the former directors and officers, an appeal to the Supreme Court was filed against the appellate court judgment.」
In the damages claim litigation concerning the 3 former directors and officers, the filing states that 2 of them newly appealed to the Supreme Court against the appellate court judgment. - FY2017-Q1First statedAnnual report
「As stated in the investigation report issued by the outside investigation committee on 16 December 2011, 3 former directors and officers of the Company continued to make improper expenditures, including substantial payments to certain business partners without obtaining resolutions of the Board of Directors, although such resolutions should have been obtained. The Company filed an action for damages against the 3 former directors and officers with the Nagoya District Court on 14 March 2012 for the losses it incurred as a result. On 30 June 2015, the court issued a judgment fully upholding the Company's claims. The former directors and officers appealed the judgment, but on 29 July 2016, the Nagoya High Court issued a judgment dismissing the appeal in its entirety.」
The disclosure states that the appeal against the first-instance judgment in the damages claim over improper expenditures by 3 former directors and officers without Board of Directors approval was dismissed in its entirety.