Damages lawsuit arising from arson committed by a former employee
First written in FY2024-Q2. 6 of 13 entries say "Mitigated", first in 2026-04-21. Latest entry: FY2027-H1.
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- FY2027-H1MitigatedAnnual report
「(1) ③ Regarding the damages lawsuit filed by Kyosan Electric Manufacturing Co.,Ltd., proceedings had been conducted at the Yokohama District Court. Following settlement discussions based on the court’s recommendation, a settlement was reached on 12 February 2026, and ¥542,000 thousand in settlement payments and related expenses was recorded as litigation-related losses under extraordinary losses in the previous consolidated fiscal year. (1) ① Regarding the damages lawsuit filed by Aioi Nissay Dowa Insurance Company, Limited, proceedings had been conducted at the Tokyo District Court. Following settlement discussions based on the court’s recommendation, a settlement was reached on 21 April 2026, and a settlement payment of ¥400,000 thousand was recorded as litigation-related losses under extraordinary losses in the current interim consolidated accounting period. In addition, regarding the damages lawsuit filed by Mitsui Sumitomo Insurance Company, Limited and Sompo Japan Insurance Inc. under (1) ②, proceedings had been conducted at the Tokyo District Court. Following settlement discussions based on the court’s recommendation, a settlement was reached on 13 August 2026, and ¥548,000 thousand, comprising the ¥450,000 thousand settlement payment plus ¥98,000 thousand in related expenses for the two lawsuits under (1) ① and ②, was recorded as litigation-related losses under extraordinary losses in the current interim consolidated accounting period.」
Of the 3 damages lawsuits arising from arson by a former employee, the Kyosan Electric Manufacturing Co.,Ltd. case was settled in the previous fiscal year and the 2 insurance-company cases were settled in the current interim period, advancing resolution of the litigation. - FY2026-H1RestatedAnnual report
「① In the Tokyo District Court, the Company was sued by Aioi Nissay Dowa Insurance Company Limited, dated 18 July 2023, with the complaint served on 11 September 2023, seeking payment of ¥2,566,751,000 in damages. ② In the Tokyo District Court, the Company was sued by Mitsui Sumitomo Insurance Company, Limited and Sompo Japan Insurance Inc., dated 19 October 2023, with the complaint served on 15 November 2023, seeking payment of ¥9,773,823,000 in damages. ③ In the Yokohama District Court, the Company was sued by Kyosan Electric Manufacturing Co.,Ltd., dated 26 April 2024, with the complaint served on 27 May 2024, seeking payment of ¥3,561,082,000 in damages.」
The Company continues to disclose the 3 damages lawsuits arising from arson by a former employee and the amounts claimed, and states that it is currently difficult to estimate their impact on financial performance. - FY2024WorsenedAnnual report
「The Company was sued on 26 April 2024 as described below and received the complaint on 27 May 2024. The amount claimed in damages is ¥3,561,082,000.」
In addition to the existing damages lawsuits brought by insurers in connection with arson by a former employee, the Company was sued by Kyosan Electric Manufacturing Co.,Ltd. for damages of ¥3,561,082,000. The number of lawsuits and the amounts claimed have increased further. - FY2024-Q3WorsenedAnnual report
「In the Tokyo District Court, the Company was sued by Aioi Nissay Dowa Insurance Company Limited, dated 18 July 2023, with the complaint served on 11 September, seeking payment of ¥2,566,751,273 in damages. The Company was also sued in the Tokyo District Court by Mitsui Sumitomo Insurance Company, Limited and Sompo Japan Insurance Inc., dated 19 October 2023, with the complaint served on 15 November, seeking payment of ¥9,773,823,652 in damages.」
In addition to the existing damages lawsuit, the Company was newly sued by Mitsui Sumitomo Insurance Company, Limited and Sompo Japan Insurance Inc. for payment of ¥9,773,823,652. The number and claimed amounts of litigation risks have increased. - FY2024-Q2First statedAnnual report
「The Company was sued on 18 July 2023 as described below and received the complaint on 11 September 2023.」
In connection with a former employee's conviction for arson of an occupied building and other offenses against Kyosan Electric Manufacturing Co.,Ltd., the Company was sued for damages based on subrogation by an insurer. The claim amount is stated as ¥2,566,751,273.