Kurabo Industries Faces 3.66 Billion Yen Damages Lawsuit Over 2022 Logistics Facility Fire

MT Newswires Live

Jun 05

Kurabo Industries (TYO:3106) has been sued by Sompo Japan Insurance for 3.66 billion yen in damages under insurance subrogation for a 2022 fire at a logistics facility, according to a Wednesday filing on the Tokyo Stock Exchange.

The lawsuit, filed March 31 and received by the company on June 3, stems from a fire at SBS Flec Co.'s Ami No. 2 Logistics Center, where Kurabo's Chemical Products Division had conducted heat-insulating work.

Sompo Japan, having paid insurance claims to SBS Flec, is seeking recovery from Kurabo and two other parties, the filing said.

Kurabo said the potential financial impact is unclear.

A separate lawsuit filed earlier by SBS Flec over the same incident remains pending, the company said in the filing.

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