Tokyo Court Dismisses IHH Unit's $1.15 Billion Claim Against Daiichi Sankyo Over Fortis Deal
IHH Healthcare said its subsidiary NTK disagrees with the ruling tied to its blocked 2018 open offer for a bigger stake in India's Fortis Healthcare.
Sept 10 (Reuters) - Malaysia's IHH Healthcare said on Thursday a Tokyo court has dismissed its unit's damage claims against Japan's Daiichi Sankyo tied to its 2018 acquisition of a stake in India's Fortis Healthcare.
The subsidiary, Northern TK Venture (NTK), had filed a claim in October 2023 alleging the Japanese drugmaker caused losses to the unit by preventing it from proceeding with open offers to buy a stake in the Indian hospital chain in 2018.
IHH, one of the world's largest private healthcare groups, had bought a 31% interest in Fortis through NTK, but later halted its open offer to buy an additional 26% after the Japanese company filed a contempt plea against the founders of the Indian company.
In May 2025, NTK had filed a petition at the Tokyo court to revise damages sought from Daiichi Sankyo to up to 109.3 billion Indian rupees ($1.15 billion).
"NTK respectfully disagrees with the court's decision and maintains firm confidence in the merits of its position," IHH said in its statement, adding that the unit is reviewing the judgment in detail with its legal counsel.
The court also decided NTK shall bear the costs of the litigation, the healthcare operator said.
"Daiichi Sankyo considers that this judgment recognizes the legitimacy of the company's position and represents a fair determination," the Japanese drugmaker said in a separate statement.
Fortis did not respond to a Reuters request for comment.
($1 = 95.4400 Indian rupees)
(Reporting by Shivangi Lahiri in Bengaluru; additional reporting by Nichiket Sunil; Editing by Vijay Kishore)
