Handling of Certain Cargo in Exports of Solar Panels to the United States
Consolidated subsidiary Vietnam Sunergy Joint Stock Company (VSUN)
Solar panels exported to the United States, comprising cargo from a total of 3 vessels
CBP determined that it could not confirm sufficient evidence to grant an exception to the import prohibition under the Uyghur Forced Labor Prevention Act (UFLPA).
An estimated loss of approximately ¥3 billion to ¥5 billion (accounting classification: Not disclosed)
The fiscal year ending March 2026 consolidated financial statements
Related procedures
Import review by U.S. Customs and Border Protection (CBP)
U.S. Customs and Border Protection (CBP)
Company response
CBP has not permitted the importation of some cargo bound for the United States. Sales to customers have not begun.
The Company and VSUN are working with external specialists, including U.S. attorneys.
The Company will submit materials and provide explanations as requested by CBP and respond appropriately. Although the cargo from 1 vessel has passed review, it has not yet been determined whether it can be imported or how the cargo from the remaining 2 vessels will be handled.
If any matters requiring disclosure arise in connection with this matter, the Company will promptly announce them. The amount of loss is expected to be finalized around late June 2026.
| Item | Details |
|---|---|
| Event name | Handling of Certain Cargo in Exports of Solar Panels to the United States |
| Date recognized / date notice received | 28 April 2026 (the date VSUN received an email confirming that the cargo had passed CBP review) |
| Subject Entity | Consolidated subsidiary Vietnam Sunergy Joint Stock Company (VSUN) |
| Target Locations / Products | Solar panels exported to the United States, comprising cargo from a total of 3 vessels |
| Cause | CBP determined that it could not confirm sufficient evidence to grant an exception to the import prohibition under the Uyghur Forced Labor Prevention Act (UFLPA). |
| Amount of Impact on Business Performance | An estimated loss of approximately ¥3 billion to ¥5 billion (accounting classification: Not disclosed) |
| Accounting period in which recognized | The fiscal year ending March 2026 consolidated financial statements |
| Type of litigation or proceeding | Import review by U.S. Customs and Border Protection (CBP) |
| Court or authority | U.S. Customs and Border Protection (CBP) |
| Suspended operations | CBP has not permitted the importation of some cargo bound for the United States. Sales to customers have not begun. |
| Investigation structure | The Company and VSUN are working with external specialists, including U.S. attorneys. |
| Outlook | The Company will submit materials and provide explanations as requested by CBP and respond appropriately. Although the cargo from 1 vessel has passed review, it has not yet been determined whether it can be imported or how the cargo from the remaining 2 vessels will be handled. |
| Planned follow-up disclosure | If any matters requiring disclosure arise in connection with this matter, the Company will promptly announce them. The amount of loss is expected to be finalized around late June 2026. |
Items this document does not state (12)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The Company received notice from CBP that it had not confirmed sufficient evidence to grant an exception to the import prohibition under the Uyghur Forced Labor Prevention Act. The amount of loss may change depending on the outcome of future CBP reviews.