Liability for Defects, Product Liability, Antitrust Law Violations, and Other Matters
First written in FY2016. 3 of 7 entries say "Restated". Latest entry: FY2023.
PS Construction moved to the "Worse" side of this theme in 2018.
3 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「Although the company takes every possible precaution in quality control, if substantial damages arise from contractual nonconformity liability or product liability, they may affect the group's performance.」
The company continues to disclose the risk of damages arising from quality deficiencies and product liability, including the change in legal terminology from liability for defects to contractual nonconformity liability. - FY2020ReframedAnnual report
「Although the company takes every possible precaution in quality control, if substantial damages arise from contractual nonconformity liability or product liability, they may affect the group's performance.」
The legal terminology changed from the previous term "liability for defects" to "contractual nonconformity liability," but the company continues to disclose the risk of damages arising from quality deficiencies and product liability. - FY2018MaterialisedAnnual report
「Profit came in ¥230 million above target, but the company was unable to build up profit in the fourth quarter of the fiscal year ending March 2018 due to certain defective construction projects.」
The company states that certain defective construction projects actually occurred in its construction business, affecting profit accumulation in the fourth quarter of the fiscal year. - FY2017RestatedAnnual report
「Although the company takes every possible precaution in quality control, if substantial damages arise from liability for defects or product liability, they may affect business performance. In particular, order opportunities may decline due to debarment or similar measures resulting from violations of the Antimonopoly Act.」
The company continues to disclose the risks of liability for defects and product liability, as well as debarment and fewer order opportunities associated with violations of the Antimonopoly Act. - FY2017-Q2RestatedAnnual report
「With respect to the "FY2012 San'en-Nanshin Route 19 Bridge PC Superstructure Construction Project," ordered by the Chubu Regional Development Bureau of the Ministry of Land, Infrastructure, Transport and Tourism (the project owner) on 21 January 2013 and constructed by the company, if the project owner determines that the project must be removed and reconstructed, the company bears liability for defects, capped at ¥1.669 billion, for a period of 10 years from the start of service.」
The company continues to disclose liability for defects relating to a particular construction project, capped at ¥1.669 billion for a 10-year period, with no material change in the disclosure. - FY2017-Q1Specific Measures DefinedAnnual report
「With respect to the "FY2012 San'en-Nanshin Route 19 Bridge PC Superstructure Construction Project" constructed by the company, if the project owner determines that the project must be removed and reconstructed, the company bears liability for defects, capped at ¥1.669 billion, for a period of 10 years from the start of service.」
The risk relating to liability for defects has been specified as a contingent liability involving a particular construction project, a 10-year period and a ¥1.669 billion cap. The disclosure does not state that removal and reconstruction has been determined to be necessary. - FY2016First statedAnnual report
「If substantial damages arise from liability for defects or product liability, they may affect business performance. In particular, order opportunities may decline due to debarment or similar measures resulting from violations of the Antimonopoly Act.」
The company identifies quality incidents and product liability, as well as debarment and fewer order opportunities due to violations of the Antimonopoly Act, as risks.