Non-compliance with laws and regulations involving buildings acquired from アクシー and indemnity claim against the seller
First written in FY2021-Q1. 2 of 3 entries say "Mitigated", first in FY2021-Q2. Latest entry: FY2021-Q3.
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- FY2021-Q3MitigatedAnnual report
「After delivery of the property, the transferee is scheduled to carry out, at its own responsibility and expense, remedial construction and other work, including demolition and removal work, to bring the property into compliance with the standards under the Building Standards Act and related laws and regulations, as well as other applicable laws and regulations.」
Regarding the non-compliance with laws and regulations involving the buildings acquired from アクシー, states that the former office and factory were sold and that remedial construction and other work is scheduled to be carried out at the transferee’s responsibility and expense. - FY2021-Q2MitigatedAnnual report
「On 4 November 2020, the Company entered into a settlement agreement with the principal seller. The settlement agreement includes a provision under which the seller will pay the Company ¥795 million, and the Company expects to recognize this amount as extraordinary income in the third quarter of the fiscal year ending March 2021.」
A settlement agreement was reached regarding the indemnity claim concerning the non-compliance with laws and regulations involving the buildings acquired from アクシー, with a provision for the seller to pay ¥795 million to the Company. - FY2021-Q1First statedAnnual report
「With respect to part of the buildings of 株式会社アクシー, whose shares the Company acquired on 23 August 2019, the Company found certain non-compliance with laws and regulations and is considering seeking indemnification from the seller. The Company is negotiating with the counterparty to obtain appropriate compensation, but as the impact on consolidated results has not been determined at this time, it has not been reflected in the results for the first quarter.」
Non-compliance with laws and regulations was found in part of the buildings acquired from アクシー, and the Company is considering seeking indemnification from the seller. Discussions on compensation are ongoing, and the impact on consolidated results remains undetermined.