Litigation relating to false statements and other matters in past securities reports and other filings
First written in FY2017-Q1. 6 of 15 entries say "Mitigated", first in FY2018-Q2. Latest entry: FY2023.
Riso Kyoiku Group moved to the "Worse" side of this theme in 2020.
3 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「If the Group is sued by shareholders or other third parties for damages or other claims, this could impede the Group's business development and affect its operating results and financial condition.」
It continues to disclose the general risk of litigation by third parties and the system for consulting external professionals in a timely manner. - FY2023-Q2MitigatedAnnual report
「Litigation-related expenses 4,142 —」
Litigation-related expenses of ¥4.142 million recorded in the year-earlier period were zero in the cumulative second-quarter period, and no litigation-related costs are reported for the period. The resolution of the litigation risk itself is not expressly stated. - FY2022-Q2MaterialisedAnnual report
「Litigation-related expenses — 4,142」
Litigation-related expenses of ¥4.142 million, which had not been recorded in the year-earlier period, were recorded in the cumulative second-quarter period, indicating that litigation-related costs were actually incurred. - FY2020ReframedAnnual report
「If the Group is sued by shareholders or other third parties for damages or other claims, this could impede the Group's business development and affect its operating results and financial condition.」
The disclosure has been reorganized from specific litigation concerning false statements in prior securities reports and other filings to a general risk of litigation by third parties, including shareholders. - FY2020-Q2MitigatedAnnual report
「Litigation-related expenses 31,443 —」
Litigation-related expenses of ¥31.443 million were recorded in the year-earlier period, while none were recorded in the cumulative second-quarter period. The resolution of the litigation risk itself is not expressly stated, but no litigation-related costs are reported for the period. - FY2019MaterialisedAnnual report
「Litigation-related expenses 32,923」
While the provision for litigation losses was zero at the fiscal year-end, litigation-related expenses of ¥32.923 million were recorded for the full year, indicating that litigation-related costs were actually incurred. - FY2019-Q3MaterialisedAnnual report
「Litigation-related expenses 32,621」
While the provision for litigation losses decreased from ¥15.619 million at the end of the previous consolidated fiscal year to zero at the end of the third quarter, litigation-related expenses of ¥32.621 million were recorded, indicating that litigation-related costs were actually incurred on an ongoing basis. - FY2019-Q2MitigatedAnnual report
「Litigation settlement payment — 15,619」
A ¥15.619 million litigation settlement payment was recorded in operating cash flow, and the provision for litigation losses was zero at the end of the second quarter. Meanwhile, litigation-related expenses of ¥31.443 million were also recorded, and the disclosure does not state that all litigation had been resolved. - FY2019-Q1MitigatedAnnual report
「Provision for litigation losses 15,619 —」
The provision for litigation losses decreased from ¥15.619 million at the end of the previous consolidated fiscal year to zero at the end of the first quarter. Meanwhile, litigation-related expenses of ¥30.537 million were recorded as an extraordinary loss during the quarter, and the disclosure does not state that the Company's litigation-related financial burden has been eliminated. - FY2018-Q3MitigatedAnnual report
「Liabilities increased by ¥958 million from the end of the previous consolidated fiscal year to ¥5,907 million, mainly due to increases in accounts payable and advances received, partly offset by a decrease in the provision for bonuses and the provision for litigation losses.」
The provision for litigation losses decreased from ¥100 million at the end of the previous consolidated fiscal year to ¥22.247 million. It reports a decrease in provisions related to litigation risk. - FY2018-Q2MitigatedAnnual report
「The Company has been sued by former shareholders seeking damages, alleging that they suffered losses as a result of false statements and other issues in the securities reports and other filings disclosed by the Company. (2 lawsuits; total amount claimed: ¥39 million)」
The current disclosure covers 2 lawsuits with total claims of ¥39 million, compared with 3 lawsuits and total claims of ¥40 million previously. It also states that a ¥100 million litigation settlement payment was a factor in operating cash flow and that the provision for litigation losses was ¥900,000. - FY2018-Q1RestatedAnnual report
「The Company has been sued by former shareholders seeking damages, alleging that they suffered losses as a result of false statements and other issues in the securities reports and other filings disclosed by the Company. (3 lawsuits; total amount claimed: ¥40 million)」
It states that 3 lawsuits brought by former shareholders, with total claims of ¥40 million, remain pending and that the financial impact is currently difficult to estimate. This note does not mention the previous ¥366 million case, but does not expressly state that it has been resolved. - FY2017-Q3RestatedAnnual report
「The opposing party filed a lawsuit seeking damages from the Company, alleging that it suffered losses as a result of false statements and other issues in the securities reports and other filings disclosed by the Company. Amount claimed: ¥366 million. In addition, the Company has been subject to 3 similar lawsuits, with total claims of ¥40 million, which are currently pending.」
It reiterates that the ¥366 million lawsuit and 3 similar lawsuits with total claims of ¥40 million are pending. - FY2017-Q2RestatedAnnual report
「The opposing party filed a lawsuit seeking damages from the Company, alleging that it suffered losses as a result of false statements and other issues in the securities reports and other filings disclosed by the Company. Amount claimed: ¥366 million. In addition, the Company has been subject to 3 similar lawsuits, with total claims of ¥40 million, which are currently pending.」
It reiterates that the ¥366 million lawsuit and 3 similar lawsuits with total claims of ¥40 million are pending. - FY2017-Q1First statedAnnual report
「The opposing party filed a lawsuit seeking damages from the Company, alleging that it suffered losses as a result of false statements and other issues in the securities reports and other filings disclosed by the Company. Amount claimed: ¥366 million. In addition, the Company has been subject to 3 similar lawsuits, with total claims of ¥40 million, which are currently pending.」
It states that, in addition to the ¥366 million lawsuit, 3 similar lawsuits with total claims of ¥40 million are pending.