A Japanese firm that mobilized forced Korean laborers during World War II said a recent South Korean top court decision to have it compensate the victims is regretful.

According to Japan’s Kyodo News on Tuesday, Nippon Steel Corporation held a shareholders’ meeting in Tokyo earlier in the day, where it described the ruling as "very regrettable." 

The company also said it will "respond appropriately" while it monitors related diplomatic negotiations between the governments of the two countries. 

Korea's top court made the ruling in October of last year, upholding a 2013 lower-court ruling that ordered the Japanese firm to pay one-hundred million won to four surviving forced labor victims. 

Nippon Steel refused to comply with the court ruling and its assets in Korea were seized.

The victims and their legal teams are taking steps to sell the seized assets in order to fulfill the court's order.