Leopalace21 faces appeal in shareholder derivative lawsuit

TOKYO, Jul 15 (Pulse News Wire) – Leopalace21 Corporation (8848.T) confirmed that plaintiff Tenzan Co., Ltd., which holds a stake of 0.0003%, has appealed against the dismissal of their claims in a shareholder derivative lawsuit. The appeal was filed with the Tokyo High Court on July 13, 2026.

In the initial lawsuit, plaintiffs sought damages totaling approximately ¥3.500 billion and interest from 22 current and former directors and five current and former auditors of Leopalace21. The case centered around allegations of negligence in handling recycling fees and concerns over a rushed bidding process for furniture and appliance delivery services in February 2022. Leopalace21 had previously joined the litigation as an auxiliary party, arguing that the plaintiffs' actions lacked merit and aimed to harm the company's interests.

The first-instance judgment, handed down by the Tokyo District Court on June 25, 2026, dismissed all claims against the defendants. The company stated that the appeal does not affect its operations or financial performance. Any further developments related to this matter will be disclosed promptly.