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Kanto Denka Kogyo Faces 1.03 Billion Yen Shareholder Derivative Lawsuit

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Kanto Denka Kogyo (TYO:4047) received a shareholder derivative lawsuit on July 24, filed by an individual shareholder against seven current directors and a former director, seeking 1.03 billion yen in damages plus default charges.

The lawsuit stems from alleged breach of duty of care under the Companies Act in connection with the Shibukawa Plant fire accident that occurred on Aug. 7, 2025, according to a Tokyo bourse filing on Tuesday.

The company sees no business impact as the suit targets individual directors.

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