Unitika Reaches Settlement in Ongoing Litigation

TOKYO, Jul 13 (Pulse News Wire) – Unitika LTD. (3103.T) announced that it had reached a settlement with the consortium led by Toa Construction Co., Ltd.

And two other companies regarding a lawsuit involving high-strength anti-sand sheets used in construction projects. The litigation was initiated in August 2021 when the consortium filed a compensation claim against UniChika and four other entities, alleging damage due to the premature degradation of the anti-sand sheets installed during the Naha Airport runway construction project. Under the terms of the agreement, which includes confidentiality clauses, UniChika accepted responsibility without admitting fault.

The settlement was finalized. While the impact on the company's fiscal year ending March 2027 is expected to be minor, UniChika stated it would promptly inform stakeholders of any significant future developments. Toa Construction Co., Ltd., based in Tokyo, Shinjuku Ku Nishishinjuku San Choume, 7-1, is represented by President Early Kawakatsu.

The company emphasized that further details of the settlement remain confidential due to non-disclosure agreements signed by both parties.