This is to announce that Obayashi Corporation's US subsidiary WEBCOR, LP, along with Obayashi and other concerned parties, have reached a settlement in a lawsuit concerning a high-rise condominium building constructed by Webcor. The suit, filed by some of the unit owners of said condominium building, sought compensation for alleged damage caused by factors including subsidence. The story was reported on by some US media outlets in August 2016.
Provisions of the settlement prohibit disclosure of details, but the settlement's effect on the Obayashi Group's consolidated business results will be slight.
