IHH s NTK has increased its claim amount by 10 times to 1.8 billion yuan from Japanese pharmaceutical factory No. 1300

NTK initially asked for compensation for losses of 20 billion yen, with an annual interest rate of 3%. But on February 6 this year, NTK submitted a briefing and expert report to the Tokyo Court, evaluating the losses it suffered in detail. The report is based on three counterfactual situations and assumes that the public offer is made as planned and that the First Sangong Company did not intervene.

The lawsuit was first announced on November 14, 2023, and NTK alleged that First Sankyo Co., Ltd. prevented it from purchasing an equity stake in Indian hospital operator Fortis Healthcare in 2018, causing NTK's losses.

IHH's stock price closed down 0.476% to 2.09 yuan on Tuesday.

Northern TK Venture (NTK), a subsidiary of IHH Healthcare, has increased the compensation requested by Japanese pharmaceutical company Daiichi Sankyo by 10 times, from 20 billion yen (180 million SGD) to 200 billion yen.

According to the expert report, the amount of damages is between 7.8 billion yen and 199.8 billion yen, and the upper limit of damages is obviously greater than the amount of 20 billion yen disclosed in the announcement on November 14, 2023. To this end, NTK considers the expert report, and combined with the losses suffered by itself due to reputation damage, the compensation amount will be increased to 200 billion yen.

IHH Medical Group issued a statement on Tuesday (May 20) to announce the news, stating that the company has included some counterfactual situations, plus the damages suffered for NTK defamation and reputation damage. The revised compensation is now 200 billion yen.

The statement said that the next hearing for related cases will be held on July 11.