Litigation Arising from Product Defects, Harmful Substances, etc.
First written in FY2016. 2 of 8 entries say "Restated". Latest entry: FY2024-Q3.
The whole theme swung hardest in 2026: 11 of 56 companies on the "Worse" side.
1 other company's latest entry also says "Other".
- FY2024-Q3No provision has been recognised for product compensationAnnual report
「Previous consolidated nine-month period ¥162.407 million Current consolidated nine-month period — ¥ million」
Product compensation provision expense related to the product recall was ¥162.407 million in the same period of the previous year, while no expense was recognised for the current consolidated nine-month period. - FY2023MaterialisedAnnual report
「Following the discovery in March 2023 of manufacturing defects in the SWIN (スウィン) office chairs produced by the Company, the Company filed a product recall notification in April of the same year. Accordingly, it recognised ¥181 million in product compensation provision expense as an extraordinary loss for the consolidated fiscal year.」
Manufacturing defects and a recall involving SWIN products actually occurred, and ¥181 million in product compensation provision expense was recognised for the full fiscal year. - FY2023-Q3MaterialisedAnnual report
「Following the discovery in March of manufacturing defects in the SWIN (スウィン) office chairs produced by the Company, the Company filed a product recall notification in April. Accordingly, it recognised ¥162 million in product compensation provision expense as an extraordinary loss for the consolidated third quarter.」
A risk previously described as the possibility of future product defects or recalls actually materialised when manufacturing defects were discovered in SWIN products, resulting in a recall notification and recognition of ¥162 million in product compensation provision expense. - FY2022MitigatedAnnual report
「These initiatives reduce the possibility that products and other items will lead to substantial product liability compensation or a recall. In addition, to mitigate the impact on its business and finances, the Company maintains product liability insurance to cover economic losses.」
In response to the risks of product defects and large-scale recalls, the Company specifies its use of proprietary testing, a quality control committee, long-term testing and product liability insurance, and describes measures to reduce the risks. - FY2020WorsenedAnnual report
「If product defects arise that lead to a large-scale recall or product liability compensation, they may affect the Group's operating results and financial position.」
In addition to the existing product defect and litigation risks, the Company identifies product defects that could lead to a large-scale recall or product liability compensation as specific potential impacts. - FY2018RestatedAnnual report
「However, in the future, the Group may face lawsuits or other claims relating to product defects, the generation of hazardous substances at its factories or various other causes in connection with its business activities. Depending on the nature of such claims, they may affect the Group's financial results.」
While stating that there are no material claims or similar matters, the Company continues to identify litigation risks associated with product defects and the generation of hazardous substances. - FY2017RestatedAnnual report
「However, in the future, the Group may face lawsuits or other claims relating to product defects, the generation of hazardous substances at its factories or various other causes in connection with its business activities. Depending on the nature of such claims, they may affect the Group's financial results.」
While stating that there are currently no material claims or similar matters, the Company continues to identify future litigation risks associated with product defects and the generation of hazardous substances. - FY2016First statedAnnual report
「In the future, the Group may face lawsuits or other claims relating to product defects, the generation of hazardous substances at its factories or various other causes in connection with its business activities. Depending on the nature of such claims, they may affect the Group's financial results.」
While stating that there are currently no material claims or similar matters, the Company describes the future litigation risk associated with product defects and the generation of hazardous substances.