Tokyo Court Concludes Hearing in IHH-Daiichi Case, Ruling Expected on September 10, 2026
IHH-Daiichi case: Tokyo court concludes hearing, ruling on September 10
Business Standard
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IHH Healthcare has announced that the Tokyo District Court has completed hearings related to its claim against Daiichi Sankyo for obstructing its acquisition of Fortis Healthcare. The court's ruling is set for September 10, 2026, with IHH seeking approximately ¥200 billion (around ₹11,849 crore or $1.25 billion) in damages.
- 01Tokyo District Court has concluded hearings in the IHH-Daiichi case.
- 02IHH is seeking ¥200 billion (approximately ₹11,849 crore or $1.25 billion) in damages.
- 03The ruling is scheduled for September 10, 2026.
- 04Daiichi Sankyo's actions allegedly obstructed IHH's acquisition of Fortis Healthcare.
- 05IHH previously acquired a 31% stake in Fortis in November 2018.
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IHH Healthcare, a Malaysian hospital operator, announced that the Tokyo District Court has concluded both preparatory and oral proceedings regarding its claim against Japanese pharmaceutical company Daiichi Sankyo. The case revolves around Daiichi Sankyo's alleged obstruction of IHH's bid to acquire control of Fortis Healthcare, a Delhi-based hospital operator. IHH's indirect subsidiary, Northern TK Ventures (NTK), is seeking ¥200 billion (approximately ₹11,849 crore or $1.25 billion) in damages. The court's ruling is expected on September 10, 2026. IHH initially acquired a 31% stake in Fortis in November 2018 but later suspended its open offer for an additional 26% stake after Daiichi Sankyo filed a contempt plea against Fortis founders Malvinder and Shivinder Singh. The ongoing legal disputes stem from Daiichi Sankyo's long-standing conflict with the Singh brothers over the purchase of Ranbaxy Laboratories. IHH has indicated that it will provide further updates regarding the case as developments occur.
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The outcome of this case could significantly affect IHH's financial standing and its future investments in the Indian healthcare sector.
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