Sumitomo Mitsui Construction lawsuit: Conciliation fails, trial resumes

Sumitomo Mitsui Construction (TSE:1821) announced that conciliation efforts in its lawsuit with Mitsui Fudosan Residential have failed. A court-ordered mediation decision (Article 17 Decision) issued on March 13, 2025, which stipulated SMC to pay JPY 3.075 billion and confirm no further liabilities related to the case, has been nullified due to an objection filed by another party on March 21, 2025. As a result, the lawsuit will proceed to trial. SMC assures that they will continue to develop their claims, but the impact on SMC's future performance is difficult to predict at this time and will not affect performance forecasts. Further disclosures will be made promptly if any relevant matters arise.