Settlement of a lawsuit seeking damages and reimbursement related to a vessel fire
First written in FY2017-Q3. 1 of 2 entries say "Materialised", first in FY2017-Q3. Latest entry: FY2018-Q2.
No other company in this theme has enough history to compare yet.
- FY2018-Q2DroppedAnnual report前回記載された船舶火災関連の損害賠償・求償金請求訴訟の和解について、本 filing では記載がない。
- FY2017-Q3MaterialisedAnnual report
「With respect to the lawsuit in which the Company was named as a defendant concerning a vessel fire that occurred in the Mediterranean in October 2004, the Company paid insurance companies and shipping companies, among others, total damages and delay damages of ¥1,754 million on 22 January 2016 pursuant to a Supreme Court decision dated 22 December 2015. On 29 March 2016, the Company filed an action with the Osaka District Court against DKSH Japan Co., Ltd., to which the Company had exported its products, seeking indemnification to establish the Company's final liability for the damages. Following a settlement recommendation from the court, the Company agreed to settle the action in order to achieve an early resolution. Under the settlement, the defendant, DKSH Japan Co., Ltd., will pay the plaintiff, the Company, ¥500 million as a settlement amount, and the plaintiff will waive all remaining claims against the defendant.」
The Company had paid ¥1,754 million in damages and related amounts in connection with the vessel fire and had filed an indemnification action against the export customer. The settlement was reached on 20 January 2017, under which the Company received ¥500 million from DKSH Japan Co., Ltd. and waived its remaining claims. The settlement amount was expected to be recognized as extraordinary income for the fiscal year ended March 2017.