Indian competitor declares victory in patent lawsuit: Quick Note

Research evidence excerpt

Indian competitor declares victory in patent lawsuit: Quick Note

Global Markets Research

13 July 2026Fujikura

5803.T 5803 JP / EQUITY: JAPAN STEEL, NONFERROUS METALS, WIRE & CABLE

Indian competitor declares victory in patent lawsuit Rating Buy

Target price JPY 7,000Quick Note

Closing price

Risk factors warrant attention, but we expect no impact on earnings in near term 10 July 2026 JPY 5,150

On 3 July, Indian optical fiber company Sterlite Technologies announced that the

European Patent Office revoked Fujikura's patent EP3796060, which was cited in its (Note: Quick Note reports are not a

vehicle for changes to ratings, targetinfringement case with Fujikura, and on 10 July Sterlite Technologies announced a

prices, or earnings forecasts)definitive victory in its European patent dispute with Fujikura. On 24 October 2023,

Fujikura announced that it had filed a lawsuit against Sterlite Technologies in the High

Court of England for patent infringement related to high-density optical cable (SWR/WTC).

We also note that Fujikura's US subsidiary announced on 5 August 2025 that it had

reached a settlement with Sterlite for its patent litigation in the United States. Research Analysts

Japan steel, nonferrous metals,As of 10 July, Fujikura has not issued a release about this matter. However, based on our

wire & cablediscussions with the company to date, we surmise that the company believes this outcome

Yuji Matsumoto - NSCwill not have a major impact on its business operations or competitive advantages. At its

yuji.matsumoto@nomura.com

results briefing on 8 November 2023, company president Naoki Okada stated in +81 3 6703 1220

connection with the lawsuit filing mentioned above, that its quality and productivity were

markedly better than those of competitors.