Handling of Certain Shipments of Solar Panels Exported to the United States
Consolidated subsidiary Vietnam Sunergy Joint Stock Company (VSUN)
Solar panels manufactured by VSUN and exported to the United States, comprising shipments carried on a total of 3 vessels
U.S. Customs and Border Protection (CBP) was unable to confirm sufficient evidence to qualify for an exception under the Uyghur Forced Labor Prevention Act
Loss of approximately ¥3 billion to ¥5 billion (loss amount in the consolidated financial statements; accounting classification: Not disclosed)
Fiscal year ending March 2026
Related procedures
Import review by U.S. Customs and Border Protection
U.S. Customs and Border Protection (CBP)
Company response
Working with external experts, including U.S. attorneys
For the remaining 2 shipments, the company will continue submitting documents and providing explanations as requested by CBP in order to pass CBP's review. The loss is scheduled to be finalized around late August 2026.
If any matter requiring disclosure arises in connection with this matter, the Company will notify the relevant parties promptly.
| Item | Details |
|---|---|
| Event name | Handling of Certain Shipments of Solar Panels Exported to the United States |
| Subject Entity | Consolidated subsidiary Vietnam Sunergy Joint Stock Company (VSUN) |
| Target Locations / Products | Solar panels manufactured by VSUN and exported to the United States, comprising shipments carried on a total of 3 vessels |
| Cause | U.S. Customs and Border Protection (CBP) was unable to confirm sufficient evidence to qualify for an exception under the Uyghur Forced Labor Prevention Act |
| Amount of Impact on Business Performance | Loss of approximately ¥3 billion to ¥5 billion (loss amount in the consolidated financial statements; accounting classification: Not disclosed) |
| Accounting period in which recognized | Fiscal year ending March 2026 |
| Type of litigation or proceeding | Import review by U.S. Customs and Border Protection |
| Court or authority | U.S. Customs and Border Protection (CBP) |
| Investigation structure | Working with external experts, including U.S. attorneys |
| Outlook | For the remaining 2 shipments, the company will continue submitting documents and providing explanations as requested by CBP in order to pass CBP's review. The loss is scheduled to be finalized around late August 2026. |
| Planned follow-up disclosure | If any matter requiring disclosure arises in connection with this matter, the Company will notify the relevant parties promptly. |
Items this document does not state (14)
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.CBP had not approved the import into the United States of the shipments carried on 3 vessels because it determined that sufficient evidence had not been confirmed to qualify for an exception under the Uyghur Forced Labor Prevention Act. The loss may change depending on developments going forward.