Recognition of a Provision for Costs of Responding to Product Defects
First written in FY2019-Q3. 1 of 12 entries say "Advanced", first in FY2019. Latest entry: FY2025.
The whole theme swung hardest in 2019: 6 of 30 companies on the "Worse" side.
18 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「Provision for product warranties 6,000 —」
The ending balance of the provision for product warranties fell from ¥6 million at the end of the previous fiscal year to zero, eliminating the provision balance related to the ASLOC defect response. - FY2024-Q3RestatedAnnual report
「Provision for product warranties 6,000 6,000」
The balance of the provision for product warranties was ¥6 million, unchanged from the end of the previous consolidated fiscal year. - FY2023Maintaining a low balance of the provision for product warrantiesAnnual report
「Provision for product warranties 6,000 6,000」
The ending balance of the provision for product warranties was ¥6 million, unchanged from the end of the previous fiscal year. - FY2021Further decrease in the provision for product warrantiesAnnual report
「Provision for product warranties 85,750 26,000」
The balance of the provision for product warranties decreased from ¥85.750 million at the end of the previous fiscal year to ¥26.000 million, and ¥19.858 million in reversal income from the provision for product warranties was recognized. - FY2021-Q3Continued decrease in the provision for product warrantiesAnnual report
「Provision for product warranties 85,750 49,639」
The balance of the provision for product warranties decreased from ¥85.75 million at the end of the previous consolidated fiscal year to ¥49.639 million. - FY2021-Q2Continued decrease in the provision for product warrantiesAnnual report
「Provision for product warranties 85,750 49,639」
The balance of the provision for product warranties decreased from ¥85.750 million at the end of the previous consolidated fiscal year to ¥49.639 million. - FY2020Significant decrease in the provision for product warrantiesAnnual report
「Current liabilities at the end of the consolidated fiscal year amounted to ¥5.524 billion, down ¥2.676 billion from the end of the previous consolidated fiscal year, mainly because the provision for product warranties decreased by ¥2.021 billion and notes and accounts payable decreased by ¥402 million.」
The provision for product warranties decreased by ¥2.021 billion from the end of the previous fiscal year, leaving an ending balance of ¥85.75 million. The company also recognized ¥393 million in reversal income from the provision for product warranties. - FY2020-Q3Further decrease in the provision for product warrantiesAnnual report
「Current liabilities at the end of the third quarter of the consolidated fiscal year amounted to ¥6.030 billion, down ¥2.170 billion from the end of the previous consolidated fiscal year, mainly because the provision for product warranties decreased by ¥1.861 billion and notes and accounts payable decreased by ¥195 million, despite a ¥283 million increase in the provision for fire-related losses.」
The provision for product warranties decreased by ¥1.861 billion from the end of the previous consolidated fiscal year to ¥245 million, further reducing the provision balance for response costs. - FY2020-Q2Decrease in the provision for product warranties and recognition of reversal incomeAnnual report
「Current liabilities at the end of the second quarter of the consolidated fiscal year amounted to ¥6.326 billion, down ¥1.874 billion from the end of the previous consolidated fiscal year, mainly because the provision for product warranties decreased by ¥1.771 billion and notes and accounts payable decreased by ¥407 million, despite a ¥504 million increase in the provision for fire-related losses.」
The provision for product warranties decreased by ¥1.771 billion from the end of the previous consolidated fiscal year, and reversal income of ¥198 million from the provision for product warranties was recognized in the income statement. - FY2020-Q1Decline in the balance of the product warranty provisionAnnual report
「This was mainly due to a ¥1.297 billion decrease in the provision for product warranties, among other factors.」
The provision for product warranties decreased by ¥1.297 billion, from ¥2.17111 billion at the end of the previous consolidated fiscal year to ¥809.6 million. However, the possibility of additional response costs remains. - FY2019AdvancedAnnual report
「Due mainly to the recognition of ¥3.470 billion in product warranty costs as an extraordinary loss, net loss attributable to owners of the parent was ¥892 million, compared with net income attributable to owners of the parent of ¥1.881 billion in the previous fiscal year.」
The company recognized ¥3.470 billion in product warranty costs as an extraordinary loss, including ¥2.17111 billion in provision expense for product warranties. - FY2019-Q3First statedAnnual report
「Because product defects occurred in some of the extruded cement panels known as “ASLOC” manufactured by the company and delivered to construction sites, the company recognized product warranty costs as an extraordinary loss. This includes ¥2.039 billion in provision expense for product warranties.」
The company recognized costs related to ASLOC product defects as an extraordinary loss and disclosed that the amount included ¥2.039 billion in provision expense for product warranties.