JELLY BEANS GROUP Co., Ltd.
Notice Regarding Arbitration Claim by Subsidiary Gold Star
Subsidiary Gold Star filed an arbitration claim with the China International Economic and Trade Arbitration Commission against Qi Hang Food Co., Ltd. seeking return of a security deposit and damages. Amounts claimed are a security deposit of 2,000,000 RMB (approx. 47 million yen) and damages of approx. 17,000,000 RMB (approx. 400 million yen). The company is reviewing the impact on future developments and consolidated results for the fiscal year ending January 2027.
Key Figures
- Security deposit reclamation amount: 2,000,000 RMB
- Damages claimed: approx. 17,000,000 RMB
- Yen conversion amount: approx. 47 million yen
- Arbitration body: China International Economic and Trade Arbitration Commission
AI要約
Key Points
Consolidated subsidiary Gold Star filed an arbitration claim with the China International Economic and Trade Arbitration Commission against Qi Hang Food Co., Ltd., seeking the return of a security deposit and damages under an exclusive agency agreement. The amounts claimed are a security deposit of 2,000,000 RMB (approx. 47 million yen) and damages of approx. 17,000,000 RMB (approx. 400 million yen). Progress of this arbitration will be disclosed in the future.
Future Impact and Response
The company is examining the progress of the arbitration and the potential impact on consolidated results for the fiscal year ending January 2027. Gold Star has announced it has strengthened the quality control system for the problematic products, and current products on sale (such as 3D Fruit Ice) are reported to have no quality issues. Future disclosures will be monitored.
JELLY BEANS GROUP Co., Ltd.
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