SNT-07 Ball Quality Defects and Compensation Costs
First written in FY2017-Q1. 6 of 18 entries say "Restated". Latest entry: FY2021.
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- FY2021Decrease in product warranty provision confirmedAnnual report
「Change in product warranty provision (△ indicates a decrease)」
On the cash flow statement, the provision for product compensation decreased by ¥10.921 million, suggesting that the balance at the end of the previous fiscal year had been fully eliminated. However, there is no explicit explanation that the compensation issue has been resolved or of the reason for the decrease. - FY2021-Q2Provision for product compensation no longer presentedAnnual report
「Provision for product compensation - ¥10.921 million」
On the quarterly balance sheet, the provision for product compensation, which was ¥10.921 million at the end of the previous fiscal year, was no longer presented at the end of the second quarter of the current fiscal year. The cash flow statement also shows a ¥10.921 million decrease, but provides no explicit explanation that the compensation issue has been resolved or of the reason for the decrease. - FY2021-Q1Reclassification of the provision for product compensation to current liabilitiesAnnual report
「Provision for product compensation - ¥10.921 million」
The provision for product compensation was reclassified from ¥10.921 million in non-current liabilities at the end of the previous fiscal year to ¥10.921 million in current liabilities at the end of the first quarter of the current fiscal year. This does not indicate a decrease in the total balance or that the compensation issue has been resolved. - FY2020Decrease in product warranty provision confirmedAnnual report
「Change in product warranty provision (△ indicates a decrease)」
The statement of cash flows recorded a ¥66.048 million decrease from the ¥76.970 million product warranty provision, confirming a reduction in the balance. However, the text contains no clear explanation of the reason for the decrease or the resolution of the compensation issue. - FY2020-Q3Continued presentation of the decrease in the product warranty provision balanceAnnual report
「Product warranty provision」
On the quarterly balance sheet, the product warranty provision decreased from ¥76.970 million at the end of the previous fiscal year to ¥19.458 million. However, as the text does not explain the reason for the decrease or state that the compensation issue involving SNT-07 balls has been resolved, it has not been judged to indicate a reduction in risk. - FY2020-Q2Continued presentation of the decrease in the product warranty provision balanceAnnual report
「The decrease in fixed liabilities was due to a decrease in the product warranty provision.」
The product warranty provision decreased from ¥76.970 million at the end of the previous fiscal year to ¥42.312 million, and the statement of cash flows also showed a decrease of ¥34.658 million. However, the text does not explain the reason for the decrease or state that the compensation issue has been resolved. - FY2020-Q1Decrease in the balance of the product warranty provision presentedAnnual report
「Product warranty provision: 76,970; 58,805」
On the quarterly balance sheet, the product warranty provision decreased from ¥76.970 million at the end of the previous fiscal year to ¥58.805 million. As the text does not explain the reason for the decrease, it has not been judged to indicate a reduction in risk. - FY2019MaterialisedAnnual report
「The estimated amount of the product warranty provision for defects in SNT-07 balls from the beginning of their development, which had previously been disclosed as a contingent liability, came to ¥76.970 million. Accordingly, despite its reluctance, the Company recorded the full amount as an extraordinary loss so that it would not affect results from the following fiscal year onward.」
Regarding the quality defects in SNT-07 balls that had previously been under discussion, the Company recorded a product warranty provision of ¥76.970 million, and the costs associated with the product recall were reflected in earnings. - FY2019-Q3MaterialisedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
While the Company continues to disclose the quality defects and discussions over compensation and cost sharing, it recorded ¥14.652 million in product recall-related expenses on the income statement, indicating that costs associated with the product recall have actually been incurred. No provision for product recall losses has been recorded. - FY2019-Q2RestatedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The contingent liabilities note continues to disclose the quality defects in SNT-07 balls, discussions with customers regarding compensation and cost sharing, the absence of a provision, and ongoing deliveries. - FY2019-Q1Reproduced in the notesAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The quality defects in SNT-07 balls and discussions over compensation, which were not identified in the previous year's business and other risks, were reproduced in the current quarter as a contingent liability note. The disclosure also continues to state that no provision has been recorded and that deliveries are ongoing. - FY2018DroppedAnnual reportThe FY2018 section on business and other risks contains no identifiable disclosure regarding quality defects in SNT-07 balls or discussions over compensation.
- FY2018-Q3RestatedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The disclosure continues to cover the quality defects in SNT-07 balls, discussions with customers regarding compensation and cost sharing, the absence of a provision, and ongoing deliveries. - FY2018-Q2RestatedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The disclosure continues to cover the quality defects in SNT-07 balls, discussions with customers regarding compensation and cost sharing, the absence of a provision, and ongoing deliveries. - FY2018-Q1RestatedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The disclosure continues to cover the quality defects in SNT-07 balls, discussions with customers regarding compensation and cost sharing, the absence of a provision, and ongoing deliveries. - FY2017-Q3RestatedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The disclosure continues to cover the quality defects in SNT-07 balls, discussions with customers regarding compensation and cost sharing, the absence of a provision, and ongoing deliveries. - FY2017-Q2RestatedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
The disclosure continues to cover the quality defects in SNT-07 balls, discussions with customers regarding compensation and cost sharing, the absence of a provision, and ongoing deliveries. - FY2017-Q1First statedAnnual report
「The Company is discussing compensation or the sharing of costs with customers regarding quality defects occurring in some SNT-07 balls delivered during the early development stage before 2014. As it is currently difficult to reasonably estimate the amount, no provision for product recall losses has been recorded. SNT-07 balls continue to be delivered.」
Quality defects occurred in products delivered in the past, and the Company is discussing compensation and cost sharing with customers. As the amount cannot be reasonably estimated, no provision has been recorded.