Risk of Adverse Effects on Financial Condition and Operating Results from Lawsuits and Disputes
First written in FY2017. 13 of 22 entries say "Restated". Latest entry: FY2025-H1.
- FY2025-H1MitigatedAnnual report
「In connection with its telecommunications services transactions, 兼松コミュニケーションズ株式会社, a subsidiary of the Company, was sued by a business partner in the Tokyo District Court in April 2021 for damages and other relief based on breach of contract. The value of the subject matter of the litigation is ¥14.664 billion. In December 2023, the court of first instance issued a judgment dismissing the business partner’s claims in their entirety, and the business partner appealed in January 2024. On 1 July 2024, the parties reached a settlement on terms that required no payment by the subsidiary.」
Following the first-instance judgment and the subsequent appeal, the lawsuit against 兼松コミュニケーションズ株式会社 was settled on 1 July 2024 on terms that required no payment by the subsidiary. - FY2024-Q3First-instance judgment and appeal in the lawsuit; arbitration concludedAnnual report
「In connection with its telecommunications services transactions, 兼松コミュニケーションズ株式会社, a subsidiary of the Company, was sued by a business partner in the Tokyo District Court in April 2021 for damages and other relief based on breach of contract. The value of the subject matter of the litigation is ¥14.664 billion. In December 2023, the court of first instance issued a judgment dismissing the business partner’s claims in their entirety. The business partner appealed in January 2024, and the case remains pending. The Company had received an arbitration claim from the seller’s adviser in relation to a business investment in the United States that the Company had been considering acquiring. The claim, filed with the American Arbitration Association in May 2022, sought damages and other relief based on alleged breach of the Company’s confidentiality agreement and other matters, with a claim amount of US$25 million. As the seller’s adviser failed to take the procedures necessary to advance the arbitration, the arbitral tribunal formally terminated the arbitration proceedings in January 2024.」
Although the claims in the lawsuit against 兼松コミュニケーションズ株式会社 were dismissed in their entirety by the court of first instance, the business partner appealed in January 2024 and the case remains pending. Meanwhile, the arbitration proceedings relating to the U.S. business investment formally ended in January 2024. - FY2024-Q1MaterialisedAnnual report
「兼松コミュニケーションズ株式会社, a subsidiary of the Company, has been sued by a business partner in the Tokyo District Court in April 2021 in connection with its telecommunications services transactions, seeking damages and other relief for breach of contract. The value of the subject matter of the litigation is ¥14.664 billion, but it is currently difficult to estimate the impact of the litigation. The Company has received an arbitration claim from the seller’s representative in relation to a business investment in the United States that the Company considered but ultimately abandoned. The claim, concerning damages and other relief for alleged breach of the Company’s confidentiality agreement, was filed with the American Arbitration Association in May 2022, naming the Company as respondent and seeking US$25 million. It is currently difficult to estimate the impact of the arbitration.」
The lawsuit against 兼松コミュニケーションズ株式会社 and the arbitration claim relating to the abandoned U.S. business investment continue to be disclosed. - FY2023-Q3MaterialisedAnnual report
「兼松コミュニケーションズ株式会社, a subsidiary of the Company, has been sued by a business partner in the Tokyo District Court in April 2021 in connection with its telecommunications services transactions, seeking damages and other relief for breach of contract. The value of the subject matter of the litigation is ¥14.664 billion, but it is currently difficult to estimate the impact of the litigation. The Company has received an arbitration claim from the seller’s representative in relation to a business investment in the United States that the Company considered but ultimately abandoned. The claim, concerning damages and other relief for alleged breach of the Company’s confidentiality agreement, was filed with the American Arbitration Association in May 2022, naming the Company as respondent and seeking US$25 million. It is currently difficult to estimate the impact of the arbitration.」
The lawsuit against 兼松コミュニケーションズ株式会社 and the arbitration claim relating to the abandoned U.S. business investment continue to be disclosed. - FY2022MaterialisedAnnual report
「The Company has received an arbitration claim from the seller’s representative in relation to a business investment in the United States that the Company considered but ultimately abandoned. The claim, concerning damages and other relief for alleged breach of the Company’s confidentiality agreement, was filed with the American Arbitration Association in May 2022, naming the Company as respondent and seeking US$25 million. It is currently difficult to estimate the impact of the arbitration.」
In addition to the previously disclosed lawsuit against 兼松コミュニケーションズ株式会社, an arbitration claim relating to an abandoned business investment in the United States arose in May 2022. The claim amount is US$25 million, and the impact is considered difficult to estimate. - FY2022-Q3MaterialisedAnnual report
「兼松コミュニケーションズ株式会社, a subsidiary of the Company, has been sued by a business partner in the Tokyo District Court in April 2021 in connection with its telecommunications services transactions, seeking damages and other relief for breach of contract. The value of the subject matter of the litigation is ¥14.664 billion, but it is currently difficult to estimate the impact of the litigation.」
The lawsuit against 兼松コミュニケーションズ株式会社 continues to be disclosed. The value of the subject matter of the litigation is ¥14.664 billion, and the impact is considered difficult to estimate. - FY2022-Q2MaterialisedAnnual report
「兼松コミュニケーションズ株式会社, a subsidiary of the Company, has been sued by a business partner in the Tokyo District Court in April 2021 in connection with its telecommunications services transactions, seeking damages and other relief for breach of contract. The value of the subject matter of the litigation is ¥14.664 billion, but it is currently difficult to estimate the impact of the litigation.」
The lawsuit against 兼松コミュニケーションズ株式会社 continues to be disclosed. The value of the subject matter of the litigation is ¥14.664 billion, and the impact is considered difficult to estimate. - FY2022-Q1MaterialisedAnnual report
「兼松コミュニケーションズ株式会社, a subsidiary of the Company, has been sued by a business partner in the Tokyo District Court in April 2021 in connection with its telecommunications services transactions, seeking damages and other relief for breach of contract. The value of the subject matter of the litigation is ¥14.664 billion, but it is currently difficult to estimate the impact of the litigation.」
The litigation risk previously described as a possibility materialised as a lawsuit against 兼松コミュニケーションズ株式会社. The value of the subject matter of the litigation is ¥14.664 billion, and the impact is considered difficult to estimate. - FY2021-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2020-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2020-Q2RestatedAnnual report
「No new business or other risks arose during the first half of the current consolidated fiscal year. In addition, no material changes have occurred in the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2020-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2019RestatedAnnual report
「As our group conducts business activities in Japan and overseas, its sales activities and assets, liabilities and other matters related to business operations may become subject, in various forms, to legal proceedings such as litigation or to other disputes.」
The document continues to describe the possibility of litigation or other disputes, prolonged resolution and the impact of unforeseen outcomes on financial condition and operating results. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2019-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2019-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2018RestatedAnnual report
「As our group conducts business activities in Japan and overseas, its sales activities and assets, liabilities and other matters related to business operations may become subject, in various forms, to legal proceedings such as litigation or to other disputes.」
The document continues to describe the possibility of litigation or other disputes, prolonged resolution and the impact of unforeseen outcomes on financial condition and operating results. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2018-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new developments or material changes were reported regarding the risk of financial and operating impacts from litigation and other disputes. - FY2017First statedAnnual report
「As our group conducts business activities in Japan and overseas, its sales activities and assets, liabilities and other matters related to business operations may become subject, in various forms, to legal proceedings such as litigation or to other disputes.」
The possibility of litigation or other disputes, prolonged resolution and the impact of unforeseen outcomes on financial condition and operating results were newly identified as key risks.