Defect Liability and Repair Cost Risk
First written in FY2016. 4 of 6 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2024: 4 of 10 companies on the "Worse" side.
1 other company's latest entry also says "Restated".
- FY2025RestatedAnnual report
「Under construction contracts with customers, the company assumes liability for non-conformity for a certain period after completion. It records a provision for completed construction warranties for the resulting repair costs based on past experience, but if such repair costs exceed the provision, the company's operating results, financial position and other matters may be affected.」
The company continues to disclose liability for non-conformity and the possibility of an impact if repair costs exceed the provision for completed construction warranties. - FY2023RestatedAnnual report
「Under construction contracts with customers, the company assumes liability for non-conformity for a certain period after completion. It records a provision for completed construction warranties for the resulting repair costs based on past experience, but if such repair costs exceed the provision, the company's operating results, financial position and other matters may be affected.」
The company continues to disclose liability for non-conformity and the possibility of an impact if repair costs exceed the provision for completed construction warranties. - FY2022RestatedAnnual report
「Under construction contracts with customers, the company assumes liability for non-conformity for a certain period after completion. It records a provision for completed construction warranties for the resulting repair costs based on past experience, but if such repair costs exceed the provision, the company's operating results, financial position and other matters may be affected.」
The company continues to disclose liability for non-conformity and the possibility of an impact if repair costs exceed the provision for completed construction warranties. - FY2020ReframedAnnual report
「Under construction contracts with customers, the company assumes liability for non-conformity for a certain period after completion. It records a provision for completed construction warranties for the resulting repair costs based on past experience, but if such repair costs exceed the provision, the company's operating results, financial position and other matters may be affected.」
The wording has changed from “defect liability” to “liability for non-conformity,” and the matter is presented as a risk if repair costs exceed the provision. - FY2018RestatedAnnual report
「Under construction contracts with customers, the company assumes defect liability for a certain period after completion. It records a provision for completed construction warranties for the resulting repair costs based on past experience, but if such repair costs exceed the provision, the company's operating results, financial position and other matters may be affected.」
The company continues to disclose defect liability and the possibility of an impact if repair costs exceed the provision. - FY2016First statedAnnual report
「Under construction contracts with customers, the company assumes defect liability for a certain period after completion. It records a provision for completed construction warranties for the resulting repair costs based on past experience, but if such repair costs exceed the provision, the company's performance may be affected.」
The company identifies as risks its defect liability after completion and the potential effect on performance if repair costs exceed the provision.