Product Defects and Quality Control-Related Losses
First written in FY2016. 5 of 12 entries say "Materialised", first in FY2019-Q3. Latest entry: FY2025-H1.
The whole theme swung hardest in 2026: 11 of 57 companies on the "Worse" side.
- FY2025-H1No product recall costs recognized during the interim periodAnnual report
「There were no applicable matters during the current interim consolidated accounting period (1 April 2024 to 30 September 2024).」
No costs related to the voluntary recall of MineMag products, which were recognized in the previous interim period, were recognized during the current interim consolidated accounting period. - FY2024-Q3Continued recognition of MineMag voluntary recall-related costsAnnual report
「An estimated amount of costs related to the voluntary recall of MineMag products is being recognized following the discovery that some MineMag products manufactured and sold by the Company are highly likely to contain asbestos exceeding statutory limits.」
¥32.745 million in costs related to the voluntary recall of MineMag products was recognized as an extraordinary loss, and recognition of costs associated with the voluntary recall is continuing. - FY2024-Q2Continued recognition of MineMag voluntary recall-related costsAnnual report
「Product voluntary recall-related costs 50,819 An estimated amount of costs related to the voluntary recall of MineMag products is being recognized following the discovery that some MineMag products manufactured and sold by the Company are highly likely to contain asbestos exceeding statutory limits.」
¥50.819 million in costs related to the voluntary recall of MineMag products was recognized as an extraordinary loss. Recognition of costs associated with the voluntary recall is continuing. - FY2024-Q1Continued recognition of MineMag voluntary recall costsAnnual report
「Product voluntary recall-related costs 45,316 An estimated amount of costs related to the voluntary recall of MineMag products is being recognized following the discovery that some MineMag products manufactured and sold by the Company are highly likely to contain asbestos exceeding statutory limits.」
¥45.316 million in estimated costs related to the voluntary recall of MineMag products was recognized as an extraordinary loss. - FY2023MaterialisedAnnual report
「An estimated amount of costs related to the voluntary recall of MineMag products is being recognized following the discovery that some MineMag products manufactured and sold by the Company are highly likely to contain asbestos exceeding statutory limits.」
It was discovered that some MineMag products were highly likely to contain asbestos exceeding statutory limits, leading to a voluntary recall and the recognition of related costs. - FY2023-Q3MaterialisedAnnual report
「An estimated amount of costs related to the voluntary recall of MineMag products is being recognized following the discovery that some MineMag products manufactured and sold by the Company are highly likely to contain asbestos exceeding statutory limits.」
It was discovered that some MineMag products were highly likely to contain asbestos exceeding statutory limits, and ¥84 million in voluntary recall costs was recognized as an extraordinary loss. The presence or absence of asbestos was reportedly still under examination. - FY2020-Q1MaterialisedAnnual report
「Some of the ASLOC extruded cement panels manufactured by the Company and delivered to construction sites have developed product defects. Appropriate remedial measures, including renovation work, are being carried out at the affected properties, and a provision for product warranties has been recognized for renovation costs and other related expenses that can currently be reasonably estimated. Additional costs may arise as work progresses and affect consolidated results, but their impact has not been reflected in the quarterly consolidated financial statements because it is difficult to estimate at present.」
Remedial work for product defects in ASLOC panels and the recognition of a provision for product warranties are continuing, and the possibility of additional response costs is also disclosed. - FY2019MaterialisedAnnual report
「It was discovered that some of the ASLOC extruded cement panels manufactured by the Company and delivered to construction sites were nonconforming products whose flexural strength did not meet the Company's standards. The Company disclosed this on 4 December 2018 and 8 January of the current year.」
The Company has provided detailed disclosure that an actual quality defect occurred in nonconforming ASLOC products, including the cause of their failure to meet the flexural-strength standard and the timing of the disclosure. - FY2019-Q3MaterialisedAnnual report
「Some of the ASLOC extruded cement panels manufactured by the Company and delivered to construction sites have developed product defects. Appropriate remedial measures, including renovation work, are being carried out at the affected properties, and provisions for product warranties have been recognized for renovation costs and other expenses related to the matter that can currently be reasonably estimated.」
Regarding the conventional general risk of product defects, actual product defects occurred in some ASLOC panels, resulting in remedial work and the recognition of a provision for product warranties. - FY2018RestatedAnnual report
「The Group takes every precaution in its quality control. However, if product liability arising from defects exceeds expectations, costs may be incurred, significantly damaging the Group's and its products' reputation and potentially affecting the Group's results.」
While conducting quality control, the Group has reconfirmed the risks of product defects and product liability exceeding expectations. - FY2017RestatedAnnual report
「The Group takes every precaution in its quality control. However, if product liability arising from defects exceeds expectations, costs may be incurred, significantly damaging the Group's and its products' reputation and potentially affecting the Group's results.」
While conducting quality control, the Group has reconfirmed the risks of product defects and product liability exceeding expectations. - FY2016First statedAnnual report
「The Group takes every precaution in its quality control. However, if product liability arising from defects exceeds expectations, costs may be incurred, significantly damaging the Group's and its products' reputation and potentially affecting the Group's results.」
While conducting quality control, the Group identifies product liability exceeding expectations as a risk.