Northern TK Venture Pte Ltd, the Singapore-based, wholly owned subsidiary of Malaysia's IHH Healthcare Berhad, has appealed a Tokyo District Court ruling that threw out its entire damages claim against Daiichi Sankyo. The company confirmed on September 28 that NTK filed the appeal with the Tokyo High Court on September 24, two weeks after the district court dismissed the suit in full on September 10.
The underlying dispute traces back to a 2016 arbitration award against former shareholders of Ranbaxy. While Daiichi Sankyo pursued enforcement of that award through Indian courts, India's Supreme Court ordered a halt to NTK's tender offer for Fortis Healthcare Limited. NTK argued that Daiichi Sankyo's conduct caused that halt and the losses that followed. NTK originally sued in the Tokyo District Court on October 16, 2023, seeking ¥20bn in damages, then expanded the claim to ¥203,301,807,840 (roughly ¥203.3bn) through an amendment filed on May 9, 2025. The claims cover damages, an injunction against interference with share acquisitions, and a demand that Daiichi Sankyo publish text specified by NTK on its website and submit the same statement to India's securities regulator, SEBI.
The district court sided with Daiichi Sankyo on every point on September 10, finding NTK's arguments unfounded. Daiichi Sankyo's release on that ruling said the outcome had no effect on its results at the time; the September 28 appeal notice instead says the impact on consolidated earnings is still under examination.
The ¥203.3bn figure is NTK's claim, not a court-awarded sum or an estimate of Daiichi Sankyo's exposure. The Tokyo District Court has already rejected it once. Whether the Tokyo High Court reaches the same conclusion is now the open question.