IHH unit NTK appeals Tokyo court ruling in Daiichi dispute

It centres on IHH's 2018 acquisition of Fortis Healthcare.

IHH Healthcare’s subsidiary, Northern TK Venture (NTK), has filed a petition for appeal with the Tokyo High Court against a 10 September judgment that dismissed all its claims against Daiichi Sankyo.

NTK first sued in October 2023 seeking $127m (¥20b), then raised the claim tenfold to $1.27b (¥200b) in May 2025.

The claim centres on IHH's 2018 acquisition of Fortis Healthcare. NTK says Daiichi Sankyo's interference delayed its mandatory tender offer for Fortis.

Daiichi Sankyo says the offer was suspended by a decision of India's Supreme Court, and it welcomed the district court's judgment.

IHH says it lost money because approvals for the tender offer were delayed, in a dispute between Daiichi Sankyo and certain judgment debtors to which IHH was not a party.

It says the deal obtained all corporate, shareholder and regulatory approvals, including those required under the Competition Commission of India and SEBI takeover rules.

IHH also restated that it intends to raise its stake in Fortis to 51% over the next three to five years, from about 31% now, and to integrate its Fortis and Gleneagles platforms.