Malaysia-based IHH Healthcare has reached out to its largest shareholder, Mitsui & Co., seeking assistance in opening a dialogue with Japanese pharmaceutical firm Daiichi Sankyo, as both sides remain engaged in parallel legal battles in India and Japan over damages amounting to ₹11,800 crore.
Group CEO Prem Kumar Nair said the company is open to an out-of-court resolution and has informally conveyed its willingness to engage in discussions if Mitsui can help facilitate contact with Daiichi. However, he noted that IHH is unaware of Daiichi’s current stance or strategy.
Mitsui’s role adds complexity to the situation, given its business relationships with both parties. Nair said such overlapping ties are not unusual, as different divisions of large conglomerates often maintain independent partnerships.
IHH reiterated that it considers itself a peripheral player in the dispute, which stems from Daiichi’s long-standing conflict with the Singh brothers. According to Nair, Daiichi’s actions have indirectly affected IHH’s operations in India, prompting the company to seek an injunction in Tokyo.
Despite the high-value litigation, IHH executives said the dispute has not distracted them from business priorities. Group Chief Corporate Officer Ashok Pandit emphasized that the company remains focused on operations and key milestones, including the completion of its mandatory tender offer (MTO), and is confident in the ongoing legal processes, including proceedings before the Delhi High Court.
While maintaining that it will respect and follow due legal procedures, IHH indicated it remains open to negotiations with Daiichi outside the courtroom.
