Jinushi faces lawsuit from BALM over lease agreement penalties

JINUSHI Co., Ltd. (TSE:3252) announced today that it is facing a lawsuit from BALM Co., Ltd. in the Tokyo District Court. The lawsuit, filed on April 30, 2025, is in response to JINUSHI's claims against BALM for penalties related to breaches of Notarized Deeds for Agreements on the Establishment of a Fixed-term Land Lease for Business Use. JINUSHI terminated the lease agreements after BALM allegedly violated the terms and filed for civil rehabilitation proceedings in December 2024. JINUSHI is seeking penalties totaling JPY 5,589 million as part of a larger claim of JPY 6,514 million. In response, BALM filed a lawsuit seeking declaratory judgment on the non-existence of obligation of the penalties, etc. JINUSHI intends to contest the suit and assert the legitimacy of its claims. The company will make further announcements as necessary.