TOKYO, May 08 (Pulse News Wire) – TIS Inc. (3626.T) reported a special loss for its fiscal year ending March 2026 due to a settlement with Mitsubishi Food Co., Ltd.
According to the disclosure, TIS's subsidiary Intec Corp. faced a lawsuit for damages amounting to ¥12.70 billion initially, which was later revised to 15,485 million yen as of December 08, 2023. Following mediation efforts, the two companies reached a settlement on April 24, 2026, with Intec agreeing to pay Mitsubishi Food a sum of ¥7.090 billion.
As a result, Intec recorded a litigation reserve adjustment of ¥7.434 billion, inclusive of the settlement payment and related legal expenses, as a special loss in its individual financial statements for the fiscal year ended March 2026. Similarly, TIS included this amount as a special loss in its consolidated financial statements for the same period. The impact of this special loss is reflected in TIS’s recently published unaudited consolidated earnings announcement for the fiscal year ended March 2026.
However, there is no effect on TIS’s individual financial results for the same period.
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