Litigation Losses from Lawsuits Filed by Employees Who Left in Connection with Management Reforms
First written in FY2019-Q2. 6 of 9 entries say "Mitigated", first in FY2020-Q2. Latest entry: FY2021.
The whole theme swung hardest in 2021: 4 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- FY2021MitigatedAnnual report
「Reversal of provision for litigation losses 1,033」
The Company reversed the ¥1.033 million provision for litigation losses, leaving a zero balance at the end of the consolidated fiscal year. - FY2021-Q3MitigatedAnnual report
「Reversal of provision for litigation losses 1,033」
The ¥1.033 million provision for litigation losses was reversed, leaving a zero balance in the provision for litigation losses at the end of the third quarter. Exposure to litigation costs associated with the management reforms has declined further. - FY2021-Q2MitigatedAnnual report
「Reversal of provision for litigation losses 1,033」
The ¥1.033 million provision for litigation losses was reversed, leaving a zero balance in the provision for litigation losses at the end of the quarter. Exposure to litigation costs associated with the management reforms is declining. - FY2020MitigatedAnnual report
「Reversal of provision for litigation losses: ¥16.944 million」
The provision for litigation losses was reversed, reducing the balance at the end of the period to ¥1.033 million. Exposure to litigation costs associated with the management reforms is declining. - FY2020-Q3MitigatedAnnual report
「Reversal of provision for litigation losses: ¥16.944 million」
The reversal of the provision for litigation losses was recorded as extraordinary income, leaving a zero balance in the provision for litigation losses at the end of the quarter. - FY2020-Q2MitigatedAnnual report
「Reversal of provision for litigation losses: ¥17.274 million」
The Company recorded a ¥17.274 million reversal of the provision for litigation losses as extraordinary income, reducing the provision for litigation losses on the balance sheet from ¥30.876 million to zero. - FY2019RestatedAnnual report
「In addition, extraordinary gains and losses arose during the current fiscal year, including compensation related to the expropriation of the Chinese subsidiary's plant and costs associated with its relocation.」
Costs associated with the relocation of the Chinese subsidiary's plant and management reforms continued to be incurred, with ¥30.876 million in provisions for litigation losses and ¥105.318 million in plant relocation costs recorded as extraordinary losses. - FY2019-Q3RestatedAnnual report
「In addition, the Company recorded as extraordinary income compensation received for the expropriation that led its subsidiary Wuxi Sanhe Plastic Products Co., Ltd. to relocate its plant following expropriation by the Wuxi municipal government, and recorded as extraordinary losses the costs associated with the plant relocation and ¥38.278 million in provisions for litigation losses related to labor disputes and other matters involving employees who left in connection with the management reforms. As a result, quarterly net income attributable to owners of the parent was ¥354.531 million, compared with a quarterly net loss attributable to owners of the parent of ¥160.038 million in the same period of the previous year.」
The Company recorded ¥38.278 million in provisions for litigation losses related to labor disputes and other matters associated with the plant relocation and management reforms, indicating that litigation costs related to the reforms are continuing. - FY2019-Q2MaterialisedAnnual report
「As a result of recognising as extraordinary income compensation received when our subsidiary, Wuxi Sanwa Plastic Products Co., Ltd., relocated its plant following expropriation by the Wuxi municipal government, and recognising as extraordinary loss a provision for litigation losses related to employees who left the company following the plant relocation and management reforms, quarterly net income attributable to owners of the parent was ¥310,889 thousand, compared with a quarterly net loss attributable to owners of the parent of ¥68,449 thousand in the previous year.」
In connection with the relocation of the Chinese subsidiary's plant and management reforms, the Company recorded a ¥39.692 million provision for litigation losses relating to former employees. This newly discloses that litigation costs associated with the management reforms were actually incurred.