Litigation Risks Related to Antitrust Law, Products, Intellectual Property and Other Matters
First written in FY2016. 7 of 15 entries say "Mitigated", first in FY2017-Q2. Latest entry: FY2022.
The whole theme swung hardest in 2024: 4 of 8 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- FY2022MitigatedAnnual report
「Court approval of the settlement between the plaintiffs in the litigation and the Company and Sanyo Electric Co., Ltd. was completed, and all procedures related to the settlement were completed in September 2021.」
Regarding the North American litigation related to the secondary battery business, the settlement procedures with the Company and Sanyo Electric were completed, and the remaining approval procedures were substantially completed in May 2022. - FY2022-Q2MitigatedAnnual report
「The Company and its subsidiary Sanyo Electric Co., Ltd. had been defendants in related litigation in North America concerning possible violations of antitrust laws in connection with the secondary battery business. Court approval of the settlement between the plaintiffs in the litigation and the Company and Sanyo Electric Co., Ltd. was completed, and all procedures related to the settlement were completed in September 2021. The litigation itself will continue until procedures for settlements between the plaintiffs and certain other co-defendants are completed, but the possibility that procedures related to the settlement with the Company and Sanyo Electric Co., Ltd. will resume is extremely low, and there will be no material impact on the condensed quarterly consolidated financial statements.」
Regarding the North American litigation related to the secondary battery business, court approval and all procedures related to the settlement with the Company and Sanyo Electric were completed in September 2021. It explained that the possibility of resuming procedures on the Company’s side was extremely low and that there would be no material impact on the financial statements. - FY2022-Q1RestatedAnnual report
「The Company and its subsidiary Sanyo Electric Co., Ltd. are defendants in related litigation in North America concerning possible violations of antitrust laws in connection with the secondary battery business.」
Reconfirmed that antitrust litigation related to the secondary battery business remains ongoing in North America. - FY2020-Q3RestatedAnnual report
「The Company and its subsidiary Sanyo Electric Co., Ltd. are defendants in related litigation in North America concerning possible violations of antitrust laws in connection with the secondary battery business.」
Reconfirmed that antitrust litigation related to the secondary battery business remains ongoing in North America. - FY2020-Q1RestatedAnnual report
「The Company and its subsidiary Sanyo Electric Co., Ltd. are defendants in related litigation in North America concerning possible violations of antitrust laws in connection with the secondary battery business.」
Reconfirmed that antitrust litigation related to the secondary battery business remains ongoing in North America. - FY2019RestatedAnnual report
「The Company and its subsidiary Sanyo Electric Co., Ltd. are defendants in related litigation in North America concerning possible violations of antitrust law relating to the secondary battery business.」
Recorded the completion of the penalty payment by Panasonic Avionics while reconfirming that litigation related to the secondary battery business remains ongoing in North America. - FY2019-Q3RestatedAnnual report
「The Company and its subsidiary Sanyo Electric Co., Ltd. are defendants in related litigation in North America concerning possible violations of antitrust law relating to the secondary battery business.」
Reconfirmed that antitrust litigation related to the secondary battery business remains ongoing in North America. - FY2019-Q1MitigatedAnnual report
「The Company and its U.S. subsidiary Panasonic Avionics Corporation (hereinafter, "PAC") had been subject to investigations by the U.S. Securities and Exchange Commission and the U.S. Department of Justice (hereinafter, the "U.S. government authorities") under the Foreign Corrupt Practices Act and U.S. securities laws concerning certain transactions between PAC and airlines and the engagement of agents and consultants related to those transactions, but agreed with the U.S. government authorities in May 2018 to pay a fine and subsequently paid it.」
The U.S. authorities' investigation into Panasonic Avionics progressed from agreement on the fine to payment. Meanwhile, litigation in the United States and elsewhere relating to the secondary battery business remains ongoing. - FY2018MitigatedAnnual report
「The Company and its U.S. subsidiary Panasonic Avionics Corporation (hereinafter, "PAC") had been subject to investigations by the U.S. Securities and Exchange Commission and the U.S. Department of Justice (hereinafter, the "U.S. government authorities") under the Foreign Corrupt Practices Act and U.S. securities laws concerning certain transactions between PAC and airlines and the engagement of agents and consultants related to those transactions, but agreed with the U.S. government authorities in May 2018 to pay a fine.」
The U.S. authorities' investigation into Panasonic Avionics progressed to an agreement to pay a fine in May 2018. - FY2018-Q3MitigatedAnnual report
「In December 2017, the Supreme Court declined to accept the appeal, and the judgment of the Tokyo High Court against MTPD and its subsidiary became final.」
In litigation concerning, among other matters, the Fair Trade Commission's surcharge payment order relating to the cathode-ray tube business, the Tokyo High Court's judgment became final after the Supreme Court declined to accept the appeal. Meanwhile, related litigation concerning the secondary battery business and other matters remains ongoing. - FY2017Settlement and payment completed in certain matters, with new investigations ongoingAnnual report
「Since June 2012, the Company and its subsidiary Sanyo Electric Co., Ltd. had been subject to a European Commission investigation into possible violations of antitrust law relating to the secondary battery business, but reached a settlement with the European Commission in December 2016 and paid the fine in March 2017. In addition, the Company is a defendant in related litigation in the United States and Europe.」
The European Commission's investigation into the secondary battery business progressed through settlement and payment of the fine, while related litigation and other matters in the United States and Europe remain outstanding. - FY2017-Q3MitigatedAnnual report
「Since June 2012, the Company and its subsidiary Sanyo Electric Co., Ltd. had been subject to a European Commission investigation into possible violations of antitrust law relating to the secondary battery business, but reached a settlement in December 2016 by agreeing to pay a fine to the European Commission.」
The European Commission's investigation into the secondary battery business was settled in December 2016 through payment of a fine. Meanwhile, other litigation and regulatory investigations remain ongoing. - FY2017-Q2MitigatedAnnual report
「In July 2016, the Court of Justice of the European Union dismissed the appeal, finalizing the sanction against the Company. In August of the same year, the Company paid the fine to the European Commission.」
Regarding the sanction under European competition law relating to the cathode-ray tube business, payment of the fine was completed after the sanction became final. Meanwhile, investigations and litigation relating to the secondary battery business remain ongoing. - FY2017-Q1MaterialisedAnnual report
「In July 2016, the Court of Justice of the European Union dismissed the appeal, finalizing the sanction against the Company.」
The sanction under European competition law relating to the cathode-ray tube business became final after the appeal was dismissed. - FY2016MaterialisedAnnual report
「Other non-operating expenses for fiscal 2015 included ¥69,118 million in litigation-related expenses, ¥22,220 million in quality and market response costs, ¥10,572 million in losses on the disposal and sale of long-lived assets, and ¥13,974 million in periodic retirement benefit expenses related to downsizing and liquidation.」
Litigation-related expenses were actually recognized, and the Company also disclosed that investigations and litigation in Japan and overseas relating to the cathode-ray tube and secondary battery businesses were ongoing.