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An announcement from Sanko Gosei Ltd. ( (JP:7888) ) is now available.
Sanko Gosei Ltd. has disclosed that its Thai consolidated subsidiary, Sanko Gosei (Thailand) Co., Ltd., is facing an arbitration claim in Thailand tied to a vehicle recall involving automotive brake parts supplied to Siam Aisin between June and November 2018. Siam Aisin has taken the dispute to a Thai arbitration commission, seeking to recover nearly all recall-related costs and asserting that the Thai unit is fully responsible for the alleged defects.
According to the complaint, Siam Aisin is demanding damages of about 984.6 million Thai baht, an amount that the Sanko Gosei group explicitly rejects as unfounded at this stage. The company says it will present its position in the arbitration process while also exploring the possibility of a negotiated settlement, and notes that the financial impact on its overall performance remains uncertain but will be disclosed if it becomes material for stakeholders.
The most recent analyst rating on (JP:7888) stock is a Buy with a Yen1187.00 price target. To see the full list of analyst forecasts on Sanko Gosei Ltd. stock, see the JP:7888 Stock Forecast page.
More about Sanko Gosei Ltd.
Sanko Gosei Ltd. is a Japan-listed manufacturer in the plastics and components sector, supplying automotive-related parts through subsidiaries such as Sanko Gosei (Thailand) Co., Ltd. The Thai unit produces automotive brake components and serves major customers in the regional vehicle supply chain, contributing modest sales and profits to the group.
Average Trading Volume: 145,770
Technical Sentiment Signal: Buy
Current Market Cap: Yen29.97B
For an in-depth examination of 7888 stock, go to TipRanks’ Overview page.