Claim under a performance bond relating to the US shield tunneling machine business
First written in FY2017-Q2. 18 of 30 entries say "Restated". Latest entry: 2026-08-06.
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- FY2025AchievedAnnual report
「The settlement agreement for this lawsuit seeking confirmation of insurance claim rights was also signed on 23 October 2024 by the JV, the Company and the insurer, bringing the matter to a conclusion.」
The lawsuit seeking confirmation of insurance claim rights concerning the U.S. shield tunneling machine was concluded through a settlement, and ¥2,187 million was recorded as settlement proceeds received. - FY2025-H1MitigatedAnnual report
「The settlement agreement for this lawsuit seeking confirmation of insurance claim rights was also signed on 23 October 2024 by the JV, the Company and the insurer, bringing the matter to a conclusion.」
The lawsuit seeking confirmation of insurance claim rights concerning the U.S. shield tunneling machine was concluded under a settlement agreement, and the Company is to receive $20 million (approximately ¥2.9 billion). - FY2024-Q3MitigatedAnnual report
「Provision for litigation losses」
The lawsuit seeking confirmation of insurance claim rights concerning the U.S. shield tunneling machine remains pending. For the nine months ended this quarter, ¥258 million was added to the provision for litigation losses, bringing the provision balance to ¥946 million, down from ¥1,016 million at the end of the previous quarter. - FY2024-Q2WorsenedAnnual report
「Provision for litigation losses」
For the pending lawsuit seeking confirmation of insurance claim rights concerning the U.S. shield tunneling machine, ¥328 million was recorded as an addition to the provision for litigation losses, increasing the provision balance from ¥669 million at the end of the previous fiscal year to ¥1,016 million. - FY2024-Q1RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2023MaterialisedAnnual report
「The company recorded ¥688 million as an expense for a provision for litigation losses to cover losses related to the pending litigation.」
The disclosure states that a ¥688 million provision for litigation losses was recorded while the lawsuit seeking a declaration of insurance coverage relating to the US shield tunneling machine remains pending. - FY2023-Q3RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2023-Q2RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2023-Q1RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2022-Q3RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be impossible to reasonably estimate. - FY2022-Q2RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be impossible to reasonably estimate. - FY2022-Q1RestatedAnnual report
「A shield tunneling machine supplied by the company through its consolidated subsidiary Hitachi Zosen U.S.A. Ltd. (hereinafter, HZUSA) to a US civil engineering and construction company JV stopped during excavation work.」
The damages lawsuit relating to the stoppage of the shield tunneling machine was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses cannot reasonably be estimated, according to the disclosure. - FY2021-Q3RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2021-Q2RestatedAnnual report
「The settlement agreement includes terms relating to the above action seeking a declaration of insurance coverage rights, which remains pending. Whether the company will recover part of the loss in the future or incur additional losses depends on the outcome of that action, and it is difficult at present to reasonably estimate the amount.」
The damages lawsuit was withdrawn following a settlement, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2020-Q3RestatedAnnual report
「A shield tunneling machine supplied by the company through its consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a US civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with the incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in the lawsuit filed by the JV seeking a declaration of insurance coverage. Meanwhile, the JV filed a damages lawsuit against the company and Hitachi Zosen U.S.A. Ltd., and the case was pending in a US court. On 4 October 2019, the damages lawsuit was withdrawn following a settlement agreement with the JV. The settlement agreement includes terms relating to the pending lawsuit seeking a declaration of insurance coverage described above, but whether the company will recover part of its losses or incur additional losses in the future depends on the outcome of that lawsuit, and the amount cannot reasonably be estimated at present.」
The damages lawsuit was withdrawn under the settlement agreement dated 4 October 2019, while the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any recovery of losses or additional losses continues to be difficult to estimate. - FY2020-Q2MaterialisedAnnual report
「During the second quarter of the current fiscal year, ¥7,197 million was recorded for repairs to the shield tunneling machine, the settlement payment and legal fees in connection with the settlement of the damages lawsuit relating to the shield tunneling machine business in the US.」
In the US shield tunneling machine business, the damages lawsuit was withdrawn under a settlement agreement dated 4 October 2019, and ¥7,197 million in losses related to overseas operations was recorded for repair costs, the settlement payment and legal fees. Meanwhile, the lawsuit seeking a declaration of insurance coverage remains pending, and the amount of any future recovery of losses or additional losses cannot be reasonably estimated, according to the disclosure. - FY2020-Q1RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The damages lawsuit in the US relating to the stoppage of the shield tunneling machine remains pending. - FY2019RestatedAnnual report
「The JV filed a damages lawsuit against the company and Hitachi Zosen U.S.A. Ltd., and the case is pending in a US court. Depending on the outcome of the litigation, the company's group results and financial position may be adversely affected.」
The damages lawsuit in the US relating to the stoppage of the shield tunneling machine remains pending. - FY2019-Q3RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The same details as in the previous fiscal year are reiterated regarding the stoppage of the shield tunneling machine, completion of repairs and excavation, and pending litigation in the US. - FY2019-Q2RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The stoppage of the shield tunneling machine, completion of repairs and excavation, and pending litigation in the US are reiterated with the same details as in the previous fiscal year. - FY2019-Q1RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The stoppage of the shield tunneling machine, completion of repairs and excavation, and pending litigation in the US are reiterated with the same details as in the previous fiscal year. - FY2018-Q3RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The stoppage of the shield tunneling machine, completion of repairs and excavation, and pending litigation in the US are reiterated with the same details as in the previous fiscal year. - FY2018-Q2RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The stoppage of the shield tunneling machine, completion of repairs and excavation, and pending litigation in the US are reiterated with the same details as in the previous fiscal year. - FY2018-Q1RestatedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The stoppage of the shield tunneling machine, completion of repairs and excavation, and pending litigation in the US are reiterated with the same details as in the previous fiscal year. - FY2017MaterialisedAnnual report
「A shield tunneling machine supplied through the company's consolidated subsidiary Hitachi Zosen U.S.A. Ltd. to a U.S. civil engineering and construction company JV stopped during tunnel excavation. The machine itself was repaired and excavation was completed in April 2017. In connection with this incident, Hitachi Zosen U.S.A. Ltd. joined as a plaintiff in an action brought by the JV seeking a declaration of insurance coverage rights. Separately, the JV brought an action for damages against the company and Hitachi Zosen U.S.A. Ltd., which remains pending in a U.S. court.」
The stoppage of the shield tunneling machine continued as litigation even after repairs and completion of excavation. Payments and other costs of ¥2,961 million under the performance bond were also recorded as losses related to overseas operations. - FY2017-Q3MaterialisedAnnual report
「During the nine-month period ended [current third quarter], the company recorded ¥1,162 million as the payment under a claim on the performance bond for its U.S. shield tunneling machine business.」
Compared with the expected payment disclosed in the previous quarter, ¥1,162 million was recorded in the current quarter as a payment based on the performance bond claim. - FY2017-Q2MaterialisedAnnual report
「During the six-month period ended [current second quarter], the company recorded ¥1,162 million as the expected payment under a claim on the performance bond for its U.S. shield tunneling machine business.」
A claim was made under the performance bond, and the expected payment of ¥1,162 million was recorded as a loss related to overseas operations.