Litigation risk related to a shortfall in assets held for BITPoint Taiwan customers
First written in FY2020-Q2. 1 of 3 entries say "Materialised", first in FY2020-Q2. Latest entry: FY2020.
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- FY2020RestatedAnnual report
「Amount in controversy: ¥1,024,198,214. Our company and BPJ believe that the plaintiffs' claims have no merit and intend to assert the validity of BPJ's position in the legal proceedings.」
The company disclosed a claim of approximately ¥1.024 billion in the lawsuit brought by BITPoint Taiwan and others, and continues to state its position and intended response to the litigation. - FY2020-Q3WorsenedAnnual report
「Amount in controversy: ¥1,024,198,214. Our company and BPJ believe that the plaintiffs' claims have no merit and intend to assert the validity of BPJ's position in the legal proceedings.」
The company disclosed a claim of ¥1,024,198,214 in the damages lawsuit brought by BITPoint Taiwan and others, and stated that it believes the plaintiffs' claims have no merit and intends to assert this position in the legal proceedings. - FY2020-Q2MaterialisedAnnual report
「It was reported that BITPoint APAC Investment Corporation (head office: Independent State of Samoa; representative: Takada Yusuke (高田佑亮)) and its Taiwan branch, 薩摩亞商幣寶亞太科技有限公司台灣分公司 (head office: Taipei; representative: Guo Yaning (郭雅寧)), referred to below as BITPoint Taiwan, filed a lawsuit with the Tokyo District Court on 23 August 2019 against our subsidiary BITPoint Japan Co., Ltd. (BPJ), seeking payment of shortfalls in fiat currency and crypto assets allegedly resulting from a shortfall in the assets of BITPoint Taiwan's customers. BPJ received the complaint on 12 November 2019, but as of the date of submission of the quarterly securities report, 14 November 2019, we had not been able to fully examine the substance of the claim. Accordingly, the impact on our consolidated results and other effects remain unknown.」
A lawsuit seeking payment for a shortfall in BITPoint Taiwan customer assets was filed on 23 August 2019, and BPJ received the complaint on 12 November. As of the filing date, the substance of the claim and its impact on consolidated results remained unknown.