Loss Risk Associated with Litigation and Counterclaim Involving テーオーシー
First written in FY2023. 1 of 3 entries say "Materialised", first in FY2023. Latest entry: FY2025.
The whole theme swung hardest in 2018: 7 of 13 companies on the "Worse" side.
1 other company's latest entry also says "Achieved".
- FY2025AchievedAnnual report
「As of 13 September 2024, we reached a settlement with TOC Co.,Ltd. under which our group would pay a settlement amount of ¥138.662 million. Accordingly, we reversed the ¥100.000 million provision for litigation losses and ¥59.681 million in accounts payable recorded in the fiscal year ended February 2023, and recognized a ¥21.018 million reversal of the provision for litigation losses as extraordinary income.」
The dispute with TOC Co.,Ltd. was settled on 13 September 2024, and a settlement amount of ¥138.662 million was paid. The provision for litigation losses and accounts payable were also reversed. - FY2024RestatedAnnual report
「Our group has filed a lawsuit against TOC Co.,Ltd. seeking the return of a security deposit, while TOC Co.,Ltd. has filed a counterclaim against us, and the matter is currently pending.」
The claim against TOC Co.,Ltd. for the return of the security deposit and the counterclaim remain pending, and a ¥100 million provision for litigation losses continues to be recorded. - FY2023MaterialisedAnnual report
「Our group has filed a lawsuit against TOC Co.,Ltd. seeking the return of a security deposit. In response, TOC Co.,Ltd. has filed a countersuit against us, and the matter is currently pending. Although our group believes that TOC Co.,Ltd.'s countersuit is unjustified, we have recorded a provision for litigation losses in preparation for any payment obligation that may arise from a future judgment or settlement.」
A countersuit in response to the lawsuit seeking the return of a security deposit remains pending, and a ¥100 million provision for litigation losses has been recorded in preparation for a payment obligation arising from a future judgment or settlement.