IHH unit appeals Tokyo court dismissal of Daiichi Sankyo damages claim over Fortis stake

Northern TK Venture, a unit of Malaysia’s IHH Healthcare, has appealed a Tokyo court’s dismissal of its damages claim against Daiichi Sankyo over the acquisition of a stake in India’s Fortis Healthcare. The unit had sought up to 109.3 billion Indian rupees. IHH also plans to raise its Fortis stake t

Malaysia’s IHH Healthcare said on Thursday that its subsidiary, Northern TK Venture (NTK), has appealed a Tokyo court’s dismissal of its damages claim against Daiichi Sankyo over NTK’s acquisition of a stake in India’s Fortis Healthcare.

On 10 September, the court dismissed NTK’s claims and ruled that IHH’s unit shall bear the litigation costs. NTK had filed a petition in May 2025 seeking to revise damages from Daiichi Sankyo to up to 109.3 billion Indian rupees (S$1.14 billion).

“NTK concluded that it warrants appellate review by a higher court, and has accordingly exercised its right of appeal,” IHH added in its statement. Neither Fortis nor Daiichi Sankyo responded immediately to requests for comment.

IHH, one of the world’s largest private healthcare groups, bought a 31 per cent interest in Fortis through NTK but later halted its open offer to buy an additional 26 per cent after Daiichi Sankyo filed a contempt plea against the founders of the Indian company.

The Malaysian firm also said on Thursday it plans to increase its stake in Fortis to 51 per cent over the next three to five years, and further integrate its Fortis and Gleneagles platforms.