Latest Tokyo Brief coverage on NIPPON CHEMI-CON CORPORATION, tracking filings, financial news, and market signals from Japan.
TSE:6997
A Singapore court has ordered Nippon Chemi-Con's subsidiary SCC to pay Dyson Manufacturing about £92.7mn over component-defect claims dating to 2022, and the company says legal fees, delay interest and a further £3.1mn claim are still to be settled while it weighs an appeal.
The move: Nippon Chemi-Con completed a ¥9bn issue of Class C and D preferred shares to Development Bank of Japan, then pushed through ¥4.5bn cuts to both capital and capital reserve and cancelled all Class A preferred shares.
A June 2 change report showed a 29.62% holding, down from 31.08%, with the filing triggered because the ratio fell by more than 1%. The report still shows 10,811,179 securities held, so the block remains large even after the trim.