Litigation over Defective Refractory Brick Work by an Overseas Subsidiary
First written in FY2017-Q3. 2 of 3 entries say "Materialised", first in FY2017-Q3. Latest entry: FY2018.
A&A Material moved to the "Worse" side of this theme in 2017, 7 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 12 of 70 companies on the "Worse" side.
21 other companies' latest entry also says "Materialised".
- FY2018MaterialisedAnnual report
「Following the settlement of the dispute between ASK SINGAPORE PTE.LTD., an unconsolidated subsidiary accounted for under the equity method, and UTOC ENGINEERING PTE.LTD., the related settlement payment and other amounts were recorded as an extraordinary loss.」
The defect lawsuit concerning the overseas subsidiary’s refractory brickwork was settled, and the related payments, including a settlement payment of ¥105 million, were recorded as an extraordinary loss. - FY2017WorsenedAnnual report
「Regarding the lawsuit brought by UTOC ENGINEERING PTE.LTD. against ASK SINGAPORE PTE.LTD., an unconsolidated subsidiary accounted for under the equity method, concerning defects in refractory brickwork for a furnace constructed for ethylene production, the appeal was dismissed on 1 December 2016, and the judgment ordering ASPL to pay UTOC S$6,171 thousand became final. ASPL resolved to dissolve on 26 May 2017 and, as of the date of submission of the annual securities report, was undergoing liquidation proceedings.」
Following the dismissal of the appeal, the payment order became final, with the payment amount specified as S$6,171 thousand, and ASPL’s dissolution and liquidation proceedings have begun. - FY2017-Q3MaterialisedAnnual report
「Regarding the lawsuit brought by UTOC ENGINEERING PTE.LTD. against ASK SINGAPORE PTE.LTD., an unconsolidated subsidiary accounted for under the equity method, concerning defects in refractory brickwork for a furnace constructed for ethylene production, the appeal was dismissed on 1 December 2016. The court is currently conducting proceedings to assess the amount involved.」
It describes the existing legal risk concerning the defect lawsuit over refractory brickwork involving an unconsolidated subsidiary accounted for under the equity method, noting that the appeal was dismissed and proceedings to assess the amount involved are under way.