Class-Action Lawsuits and Settlement Payments Related to Competition Law Violations Involving Automotive Parts
First written in FY2019. 7 of 17 entries say "Restated". Latest entry: FY2025.
Sanoh Industrial moved to the "Worse" side of this theme in 2022.
The whole theme swung hardest in 2022: 1 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Achieved".
- FY2025AchievedAnnual report
「For this matter, after recording an estimated loss of ¥364 million, which could be reasonably estimated, as a provision for damages, a settlement was reached and the settlement payment was made from the provision for damages.」
Regarding a certain customer's demand to bear compensation related to violations of competition law, ¥364 million was provided for, followed by completion of the settlement and payment. - FY2025-H1MitigatedAnnual report
「The Company and its U.S. and Canadian subsidiaries have been asked by a certain customer to bear compensation for damages related to the class action filed in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law concerning automotive parts. The reasonably estimable expected loss has been recorded as a provision for damages, but depending on the status of future negotiations and other factors, the Company's consolidated business performance may be affected.」
Demands from a certain customer to bear compensation remain ongoing, but the balance of the provision for damages decreased from ¥494 million to ¥468 million, and no new provision expense was recorded during the interim period. - FY2024WorsenedAnnual report
「The Company recorded its expected loss relating to damages and other claims arising from violations of competition law concerning automotive parts by the Company and its U.S. and Canadian subsidiaries as an extraordinary loss.」
While the class action in Canada has been settled and the settlement payment made, the Company recorded a provision for damages of ¥494 million in connection with demands from a certain customer to bear compensation, and the possibility of an additional impact remains. - FY2024-Q3RestatedAnnual report
「The Company and its U.S. and Canadian subsidiaries had been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. During the nine-month consolidated cumulative period, a settlement was reached and the settlement payment was made.」
The disclosure that the class action in Canada had been settled and the settlement payment made was maintained. Demands from certain customers to bear compensation and the possibility of an additional impact on business performance remain. quantified false, materialized true. - FY2024-Q2MitigatedAnnual report
「The Company and its U.S. and Canadian subsidiaries had been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. During the six-month consolidated cumulative period, a settlement was reached and the settlement payment was made. As a provision for damages equivalent to the settlement payment had been recorded in prior fiscal years, the impact on profit or loss for the six-month consolidated cumulative period was immaterial.」
The class action in Canada reached a settlement and the settlement payment was made, representing concrete progress, and the impact on profit or loss for the current period was considered immaterial. Meanwhile, the Company recorded a provision for damages of ¥345 million in connection with demands from a certain customer to bear compensation, and the possibility of an additional impact depending on the status of negotiations remains. - FY2024-Q1WorsenedAnnual report
「The Company recorded its expected loss relating to damages arising from violations of competition law concerning automotive parts by the Company and its U.S. and Canadian subsidiaries.」
In connection with the class action in Canada and other matters, the Company recorded an expense of ¥331 million for a provision for damages, and the loss materialized following the provision recorded through the end of the previous fiscal year. - FY2023-Q3WorsenedAnnual report
「During the nine-month consolidated cumulative period, as stated under "Notes (Quarterly Consolidated Balance Sheet)—Contingent Liabilities," the Company recorded an expected loss of ¥292 million relating to damages arising from violations of competition law concerning automotive parts by the Company and its U.S. and Canadian subsidiaries.」
The Company recorded an expense of ¥292 million for a provision for damages relating to the class action in Canada and other matters, up from ¥272 million for the cumulative period through the previous quarter. - FY2023-Q2WorsenedAnnual report
「During the six-month consolidated cumulative period, as stated under "Notes (Quarterly Consolidated Balance Sheet)—Contingent Liabilities," the Company recorded its expected loss relating to damages arising from violations of competition law concerning automotive parts by the Company and its U.S. and Canadian subsidiaries.」
The Company recorded an expense of ¥272 million for a provision for damages relating to the class action in Canada and other matters. - FY2023-Q1MaterialisedAnnual report
「The Company and its U.S. and Canadian subsidiaries have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. The Company has also been asked by certain customers to bear compensation for related damages. The reasonably estimable expected loss has been recorded as an expense for a provision for damages.」
Regarding the class action in Canada and demands from certain customers to bear compensation, the Company recorded an expected loss of ¥189 million as an expense for a provision for damages. - FY2022-Q2RestatedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the quarterly consolidated financial statements.」
The class action in Canada concerning violations of competition law remains ongoing, and the amount and timing of its impact on business performance still cannot be reasonably estimated. - FY2021RestatedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the consolidated financial statements.」
The class action in Canada concerning violations of competition law remains ongoing, and the amount and timing of its impact still cannot be reasonably estimated. - FY2021-Q2RestatedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the quarterly consolidated financial statements.」
The class action in Canada concerning violations of competition law remains ongoing, and the amount and timing of its impact on business performance remain impossible to estimate. - FY2021-Q1RestatedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the quarterly consolidated financial statements.」
The class action in Canada concerning violations of competition law remains ongoing, and the amount and timing of its impact on business performance remain impossible to estimate. - FY2020-Q3RestatedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the quarterly consolidated financial statements.」
The class action in Canada concerning violations of competition law remains ongoing, and the amount and timing of its impact on business performance remain impossible to estimate. - FY2020-Q2RestatedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the quarterly consolidated financial statements.」
The class action in Canada concerning violations of competition law remains ongoing, and the amount and timing of its impact on business performance remain impossible to estimate. - FY2020-Q1WorsenedAnnual report
「The Company and its U.S. subsidiary have been subject to a class action in Canada seeking damages and other relief on the grounds that they suffered harm from violations of competition law relating to automotive parts. As the amount and timing of the impact of the action on business performance cannot currently be reasonably estimated, its impact has not been reflected in the quarterly consolidated financial statements.」
Separate from the previous U.S. litigation and settlement, a class action concerning violations of competition law was filed in Canada, and the amount and timing of its impact on business performance remain difficult to estimate. - FY2019MaterialisedAnnual report
「The Company and its U.S. subsidiary had been subject since 2017 to class-action civil litigation in the U.S. District Court for the Eastern District of Michigan seeking damages and other relief on the grounds that they had suffered harm from violations of competition law relating to automotive parts. After considering comprehensively the increase in litigation-related costs resulting from the prolonged proceedings and the impact on management, the Company held discussions with the plaintiffs, namely end purchasers and automobile dealers, and reached a settlement agreement on 10 April 2019. The settlement amount has been recorded as an extraordinary loss.」
The Company reached a settlement agreement in the class-action civil litigation concerning violations of competition law and recorded a settlement payment of ¥1.221 billion as an extraordinary loss.