Tokyo, June 27 (Jiji Press) — Mitsubishi Heavy Industries Ltd. <7011> has no plan to settle a lawsuit filed by South Korean plaintiffs over wartime forced labor, Executive Vice President Masahiko Mishima said Thursday.
“We are dealing with the matter appropriately while being in touch with the Japanese government,” Mishima said at a shareholder meeting.
Last year, South Korea’s Supreme Court ordered the Japanese heavy machinery maker to compensate plaintiffs who claim to have been forced to work for the company during Japan’s colonial rule of the Korean Peninsula before and during World War II.
The Japanese government insists that the issue of wartime labor was settled with the 1965 bilateral pact on property and claims.
While describing the South Korean ruling as “extremely regrettable,” Mishima said Mitsubishi Heavy has no plans to pull out of South Korea.
The plaintiffs have warned that they will begin proceedings to convert Mitsubishi Heavy assets seized in South Korea into cash if the company fails to respond to their demands for talks by July 15. The assets are believed to be worth some 804 million won.