Risk of defects and liability for damages arising from construction errors
First written in FY2019. 13 of 16 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2018: 1 of 10 companies on the "Worse" side.
14 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「In addition, for construction projects with a high risk of nonconformity, meetings are held in advance with the participation of engineers from headquarters, construction plans are prepared, and construction is managed in accordance with those plans. However, if an unforeseen event occurs and the construction ultimately fails to conform to the contract, the resulting contract termination, claims for damages, claims for completion of performance, claims for reductions in consideration and other measures may affect the Company's business development, financial condition and operating results.」
The Company continues to address the risk of construction work failing to conform to the contract through ISO9001, construction regulations, IT tools and advance consultations involving engineers from headquarters. - FY2025RestatedAnnual report
「In addition, for construction projects with a high risk of nonconformity, meetings are held in advance with the participation of engineers from headquarters, construction plans are prepared, and construction is managed in accordance with those plans. However, if an unforeseen event occurs and the construction ultimately fails to conform to the contract, the resulting contract termination, claims for damages, claims for completion of performance, claims for reductions in consideration and other measures may affect the Company's business development, financial condition and operating results.」
The filing continues to describe the risk of construction work failing to conform to the contract and the Company's responses, including ISO9001, construction regulations, IT tools and advance consultations involving engineers from headquarters. - FY2025-H1RestatedAnnual report
「During the interim accounting period, there were no significant changes in the occurrence of the major risks that management recognizes could materially affect the company’s financial position, financial performance, and cash flows, or in the matters described as “Business Risks” in the annual securities report for the previous fiscal year.」
The filing states that there have been no material changes to the principal risks, including the risk of contractual nonconformity and liability for damages arising from construction errors. - FY2024-Q3RestatedAnnual report
「During the cumulative period of the third quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The filing states that there have been no material changes to the principal risks, including the risk of contractual nonconformity and liability for damages arising from construction errors. - FY2024-Q2RestatedAnnual report
「During the cumulative period of the second quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The filing states that there have been no material changes to the principal risks, including the risk of contractual nonconformity and liability for damages arising from construction errors. - FY2023-Q3RestatedAnnual report
「During the cumulative period of the third quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The filing states that there have been no material changes to the principal risks, including the risk of contractual nonconformity and liability for damages arising from construction errors. - FY2023-Q1RestatedAnnual report
「During the cumulative period of the first quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The filing states that there have been no material changes to the principal risks, including the risk of contractual nonconformity and liability for damages arising from construction errors. - FY2022ReframedAnnual report
「To complete construction in conformity with our contracts with clients, we manage construction in accordance with ISO9001 (quality management system) and our construction regulations. However, if an unforeseen event results in construction that does not conform to the contract, this may affect our business operations, financial condition, and operating results through contract termination, claims for damages, claims for remedial work, claims for price reductions, or other consequences.」
The company has reorganized the existing risks of defects and liability for damages as the risk of construction not conforming to the contract, and specifies the potential consequences, including contract termination, claims for remedial work, and claims for price reductions. - FY2022-Q2RestatedAnnual report
「During the cumulative period of the second quarter, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the company's financial position, operating results or cash flows, among matters concerning the business and accounting conditions described in this quarterly report, nor were there any material changes to the section entitled "Business and Other Risks" in the annual securities report for the previous fiscal year.」
The company states that there were no material changes to the existing key risks, including defects and liability for damages due to construction errors. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter, there were no material changes in the occurrence of the principal risks that management recognizes as potentially having a material impact on the company's financial position, results of operations or cash flows, among the matters relating to the business and accounting conditions described in the quarterly report, nor were there any material changes to the "Business and Other Risks" described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the existing key risks, including defects and liability for damages due to construction errors. - FY2021-Q1RestatedAnnual report
「During the cumulative first quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including defects and liability for damages due to construction errors. - FY2020MitigatedAnnual report
「To reduce the risk of defects, we rigorously manage construction in accordance with ISO quality standards and our construction rules, and use IT support tools that enable past cases to be searched at worksites, among other measures, to prevent defective construction before it occurs.」
As preventive measures against defect risks, the company describes construction management based on ISO standards and its construction rules, IT tools for searching past cases, and prior consultations involving technical personnel at headquarters. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including defects and liability for damages due to construction errors. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including defects and liability for damages due to construction errors. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter, there were no material changes in the matters described in the quarterly report concerning the status of the business, financial matters, and other matters that could materially affect investors' decisions, nor in the material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there were no material changes to the risks described in the previous fiscal year, including defects and liability for damages due to construction errors. - FY2019First statedAnnual report
「There is a risk that defects may arise in the construction work we perform as a result of construction errors.」
The company states that if defects arise due to construction errors, it may be held liable not only for direct damages but also for indirect damages.