Arbitration proceedings initiated by Gates Corporation and others, and dispute concerning the joint venture agreement and related matters
First written in FY2023-Q3. 4 of 10 entries say "Materialised", first in FY2024-Q1. Latest entry: FY2026.
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- FY2026WorsenedAnnual report
「Litigation-related expenses 131 673」
Litigation-related expenses increased from ¥131 million in the previous fiscal year to ¥673 million. The Company stated that it would address the arbitration with Gates Corporation and others through the proceedings following the renewed claim. - 2026-05-08WorsenedEarnings
「Although demand for the semiconductor industry remained firm at equity-method affiliates, litigation-related expenses increased, and ordinary income rose by ¥209 million, or 1.4%, year on year to ¥14.81 billion.」
Litigation-related expenses increased from ¥131 million in the previous fiscal year to ¥673 million, indicating a larger financial burden from the dispute. - FY2026-H1WorsenedAnnual report
「Litigation-related expenses 80 295」
Litigation-related expenses increased from ¥80 million in the same period of the previous year to ¥295 million in the current interim consolidated accounting period. The main text does not expressly state a direct connection between these expenses and the arbitration with Gates Corporation and others. - FY2025ReframedAnnual report
「The claimants filed a renewed arbitration claim on 17 May 2024, with the substance changed as set out below.」
The arbitration with Gates Corporation and others changed from the 2023 arbitration in Denver under the AAA Rules to arbitration in Honolulu, Hawaii, United States, under the LCIA Rules based on the shareholder agreement on 17 May 2024. The Company reconfirmed its policy of addressing the renewed claim through the proceedings after the original arbitration ended. - FY2025-H1MaterialisedAnnual report
「Litigation-related expenses 74 80」
The Company recorded ¥80 million in litigation-related expenses related to the arbitration involving Gates Corporation and others during the interim consolidated accounting period. No changes to the arbitration claim amount or its substance were disclosed. - FY2024-Q3MaterialisedAnnual report
「Litigation-related expenses - 160」
The Company recorded ¥160 million in litigation-related expenses related to the arbitration involving Gates Corporation and others during the cumulative third-quarter consolidated period. There is no new disclosure regarding any changes to the arbitration claim amount or its substance. - FY2024-Q2MaterialisedAnnual report
「Litigation-related expenses - 74」
The Company recorded ¥74 million in litigation-related expenses related to the arbitration involving Gates Corporation and others during the cumulative second-quarter consolidated period. - FY2024-Q1MaterialisedAnnual report
「Litigation-related expenses - 39」
The Company recorded ¥39 million in litigation-related expenses in the first-quarter consolidated income statement. There is no new disclosure regarding the substance or amount of the arbitration claim by Gates Corporation and others, or any changes to them. - FY2023RestatedAnnual report
「In this claim, the claimants allege that the Company has breached the shareholder agreement and technical cooperation agreement entered into with them and are seeking US$458 million in damages from the Company and the dissolution of the joint venture agreement. However, the claimants' allegations differ from the Company's understanding and are not acceptable to the Company, which intends to respond appropriately based on the facts through the arbitration proceedings going forward.」
Regarding Gates Corporation and others' US$458 million damages claim and demand for dissolution of the joint venture agreement, the Company has reconfirmed its policy of addressing the matter through the arbitration proceedings, stating that the claims differ from its understanding. - FY2023-Q3First statedAnnual report
「In this claim, the claimants allege that the Company has breached the shareholder agreement and technical cooperation agreement entered into with them, and are seeking US$458 million in damages from the Company, as well as the dissolution of the joint venture agreement and other relief. The arbitration is to be conducted in Denver, Colorado, United States, as the seat of arbitration, in accordance with the arbitration rules of the American Arbitration Association.」
On 17 January 2023, Gates Corporation and Gates Canada, Inc. filed for arbitration seeking US$458 million in damages and the dissolution of the joint venture agreement and other relief, alleging breaches of the shareholder agreement and technical cooperation agreement. The Company stated that the claimants' allegations differed from its understanding and indicated that it would address the matter through the arbitration proceedings.