Japan's Mitsubishi Heavy Industries reportedly plans to immediately appeal a South Korean court's ruling to seize its assets held in South Korea to compensate wartime laborers.

According to Japan's Kyodo News and NHK on Tuesday, the Japanese firm said it believed South Koreans cannot make any compensation claims as the reparation issue was fully and finally settled by a treaty between the two nations. This refers to a 1965 agreement normalizing diplomatic ties between Seoul and Tokyo. 

The firm then announced that it will immediately appeal the South Korean court's ruling. 

The announcement came as the delivery of related legal documents by South Korea's Daejeon District Court came into effect on Tuesday, enabling the sale of Mitsubishi's assets held in South Korea.  

In November 2018, the South Korean Supreme Court ordered Mitsubishi to pay five Korean victims of wartime forced labor 100 to 150 million won each in compensation.

After Mitsubishi repeatedly rejected the victims' requests for negotiations, the victims launched proceedings last year to seize the company's assets in South Korea and dispose of them.