IHH Unit Appeals Tokyo Court Dismissal of $1.1B Daiichi Sankyo Claim

Northern TK Venture, an IHH Healthcare unit, has appealed to the Tokyo High Court after the Tokyo District Court on September 10, 2026 dismissed its claim against Daiichi Sankyo and ordered NTK to bear litigation costs. NTK sought up to 109.3 billion Indian rupees, about $1.1 billion, for losses from delays in approvals for IHH's 2018 Fortis Healthcare stake buy. IHH says the delays stemmed from a separate Daiichi dispute with Fortis's former owners, the Singh brothers, to which it was not a party. IHH said NTK concluded the ruling warrants appellate review by a higher court and has accordingly exercised its right of appeal. IHH holds about 31 percent of Fortis through NTK, later raised to 31.17 percent after open-offer approval. It halted a planned offer for an added 26 percent after Daiichi filed a contempt plea against the former founders. The dispute traces to Daiichi's 2008 Ranbaxy buy from the Singhs; a 2016 Singapore tribunal ordered them to pay about 25.62 billion rupees plus interest. On August 31, 2026, the Delhi High Court ordered a forensic audit into the Singhs' Fortis shareholding loss and change of control, including IHH's acquisition. IHH says it plans to raise its Fortis stake to 51 percent over three to five years. Contested: none found.