Damages lawsuit concerning the sale of industrial land in Toyohashi City
First written in FY2018. 4 of 10 entries say "Restated". Latest entry: FY2021-Q2.
No other company in this theme has enough history to compare yet.
- FY2021-Q2MitigatedAnnual report
「In the lawsuit in which residents of Toyohashi City sought an order requiring the Mayor of Toyohashi to demand that the Company pay ¥6,300 million in damages plus delay damages to Toyohashi City, alleging that the Company's sale to a third party of factory land transferred to it by Aichi Prefecture's Toyohashi City (hereinafter, "Toyohashi City") in 1951 breached the contract under which the land was transferred, the court of second instance issued a judgment recognizing part of the claim, namely ¥2,094 million plus delay damages. The Company and the other parties filed a final appeal and a petition for acceptance of the final appeal, but on 21 July 2020, the Supreme Court dismissed the final appeal and related petitions and decided not to accept the case for final appeal. At the end of August of the same year, the Company paid ¥2,609 million to Toyohashi City.」
The judgment became final following the Supreme Court's decision, and ¥2,609 million in damages and delay damages was paid. The ¥2,566 million provision for litigation losses was reversed, and the litigation risk progressed to the stage of final judgment and payment. - FY2021-Q1MaterialisedAnnual report
「Regarding the action in which Toyohashi residents sought an order requiring the Mayor of Toyohashi to demand payment of damages and other amounts from the Company on the grounds that the Company's sale to a third party of factory land acquired from Toyohashi City, Aichi Prefecture (hereinafter, "Toyohashi City") in 1951 breached the contract under which the land was acquired, with the Company participating as an assisting intervenor, on 21 July 2020 the Third Petty Bench of the Supreme Court dismissed the Company's and the other parties' final appeal and decided not to accept the petition for acceptance of the final appeal. The Company has recorded a provision for litigation losses of ¥2,592 million in relation to the action.」
Regarding the lawsuit over the sale of industrial land in Toyohashi City, the Supreme Court dismissed the final appeal and decided not to accept the case for final appeal. The filing also records a ¥2,592 million provision for litigation losses. - FY2020WorsenedAnnual report
「The Company, the Mayor of Toyohashi and Toyohashi residents have filed a final appeal and petitioned for acceptance of the final appeal against this judgment, and the case remains pending. The Company estimated the amount reasonably calculated based on the judgment and recorded a provision for litigation losses of ¥2,566 million.」
The litigation remains pending before the Supreme Court, and the provision for litigation losses has been specified at ¥2,566 million. - FY2020-Q3WorsenedAnnual report
「The Company estimated the amount reasonably calculated based on the second-instance judgment and recorded a provision for litigation losses of ¥2,540 million, but future developments in the matter may affect the performance and financial position of the Company Group.」
The litigation continues following the final appeal and petition for acceptance of the final appeal to the Supreme Court, and a provision for litigation losses of ¥2,540 million has been recorded. The amount has been specified and increased from ¥2.5 billion in the previous filing. - FY2020-Q2RestatedAnnual report
「On 16 July 2019, the Nagoya High Court issued a judgment ordering the Mayor of Toyohashi to seek payment of approximately ¥2,094 million in damages and delay damages. On 29 July of the same year, the Mayor of Toyohashi filed a final appeal with the Supreme Court and petitioned for acceptance of the final appeal. The Company estimated the amount reasonably calculated based on the second-instance judgment and recorded a provision for litigation losses of ¥2.5 billion, but future developments in the matter may affect the performance and financial position of the Company Group.」
The description continues to state that, following the appellate judgment, the Mayor of Toyohashi filed a final appeal and petitioned for acceptance of the final appeal with the Supreme Court, and that a provision for litigation losses of ¥2.5 billion was recorded. - FY2020-Q1WorsenedAnnual report
「On 16 July 2019, the Nagoya High Court issued a judgment ordering the Mayor of Toyohashi to seek payment of approximately ¥2,094 million in damages and delay damages. On 29 July of the same year, the Mayor of Toyohashi filed a final appeal with the Supreme Court and petitioned for acceptance of the final appeal. The Company estimated the amount reasonably calculated based on the second-instance judgment and recorded a provision for litigation losses of ¥2.5 billion.」
Following the first-instance judgment, the appellate court also issued a judgment ordering payment of damages, and the Company recorded a provision for litigation losses of ¥2.5 billion. The litigation continues as a result of the final appeal to the Supreme Court and related proceedings. - FY2019-Q3RestatedAnnual report
「Toyohashi residents brought an action seeking an order requiring the Mayor of Toyohashi to demand that the Company pay ¥6.3 billion in damages, plus an amount calculated at an annual rate of 5% from 1 October 2015 until payment, on the grounds that the Company's sale to a third party of industrial land acquired from Toyohashi City, Aichi Prefecture (hereinafter, "Toyohashi City") in 1951 breached the contract under which the land was acquired. The Company participated as an assisting intervenor. On 8 February 2018, the Nagoya District Court issued a judgment ordering the Mayor of Toyohashi to seek the above payment from the Company. The Mayor of Toyohashi appealed the judgment to the Nagoya High Court, with the Company participating as an assisting intervenor.」
The status of the ¥6.3 billion damages lawsuit concerning the sale of industrial land in Toyohashi City continues to be under appeal following the district court judgment. - FY2019-Q2RestatedAnnual report
「The Mayor of Toyohashi, dissatisfied with the judgment, has appealed to the Nagoya High Court, with the Company participating as an assisting intervenor.」
The status of the ¥6.3 billion damages lawsuit concerning the sale of industrial land in Toyohashi City continues to be under appeal following the district court judgment. - FY2019-Q1RestatedAnnual report
「On 8 February 2018, the Nagoya District Court issued a judgment ordering the Mayor of Toyohashi to seek payment described above from the Company. The Mayor of Toyohashi appealed the judgment to the Nagoya High Court, with the Company participating as an assisting intervenor.」
The status of the ¥6.3 billion damages lawsuit concerning the sale of industrial land in Toyohashi City continues to be described as under appeal following the district court judgment. - FY2018MaterialisedAnnual report
「On 8 February 2018, the Nagoya District Court issued a judgment ordering the Mayor of Toyohashi to seek payment described above from the Company. The Mayor of Toyohashi appealed the judgment to the Nagoya High Court, with the Company participating as an assisting intervenor.」
A judgment was issued concerning the ¥6.3 billion damages claim over the sale to a third party of industrial land acquired from Toyohashi City, and the case is under appeal.