Losses Associated with Product Defects and Automotive Recalls
First written in FY2016. 6 of 11 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2026: 11 of 57 companies on the "Worse" side.
- FY2026ReframedAnnual report
「To strengthen its quality assurance system, the company will reorganize the Quality Assurance Headquarters, comprising the Quality Assurance Department and Quality Control Office, in June 2026. The quality control function will be integrated into the Business Audit Department, and the Quality Assurance Headquarters will be abolished.」
As a response to the risk of recalls and product defects, the company announced a reorganization policy under which the quality control function will be integrated into the Business Audit Department and the Quality Assurance Headquarters will be abolished. - FY2025AdvancedAnnual report
「Accordingly, in April 2025, we newly established the Quality Assurance Headquarters, which oversees the Quality Oversight Office and Quality Assurance Department responsible for quality oversight in Japan and overseas. By establishing an assurance framework aligned with our quality management system, we are further improving quality and developing a framework designed to prevent recalls.」
As a response to the risk of product defects and recalls, the company newly established the Quality Assurance Headquarters in April 2025 to oversee quality control and quality assurance functions in Japan and overseas. - FY2024RestatedAnnual report
「Accordingly, the company established a centralized quality assurance system in the Quality Assurance Department, which consolidated the quality assurance functions of each business division and operates in accordance with a quality management system, to improve quality and prevent recalls.」
The company continues to address the risk of losses from product defects and automotive recalls by consolidating functions into the Quality Assurance Department. - FY2023RestatedAnnual report
「Accordingly, in 2022 the company established a centralized quality assurance system in the Quality Assurance Department, which consolidated the quality assurance functions of each business division and operates in accordance with a quality management system, to improve quality and prevent recalls.」
The company continues to disclose the risk of losses from product defects and recalls, with the consolidation of functions into the Quality Assurance Department serving as its response. - FY2022MaterialisedAnnual report
「On the earnings side, the company recognized costs resulting from defects in certain products. However, supported by higher revenue and the continued promotion of rationalization initiatives, operating profit increased by ¥6 million, or 2.2%, year on year to ¥278 million.」
Defects occurred in certain medical devices and the related costs were recognized. This indicates that the risk of losses from product defects and recalls materialized. - FY2022-Q3MaterialisedAnnual report
「As a result of actively promoting sales expansion, sales were ¥3,485 million, up 13.3% year on year. On the profit side, the company decided to conduct a voluntary recall after defects were identified in some products and recorded the resulting costs. Nevertheless, operating profit was ¥230 million, up 72.4% year on year, reflecting higher sales and the promotion of cost-reduction initiatives.」
Defects were identified in certain medical devices, and the company decided to conduct a voluntary recall and recognized the associated costs. The risk of losses from product defects and recalls materialized. - FY2021RestatedAnnual report
「In particular, product defects that result in recalls by automotive manufacturers to which the Group sells its products could entail substantial costs and may adversely affect the Group's operating results and financial position. Accordingly, the company is strengthening its quality improvement efforts and establishing systems to prevent recalls.」
The company continues to disclose the risk of costs arising from product defects and recalls, and its response through quality improvements. - FY2020RestatedAnnual report
「In particular, product defects that result in recalls by automotive manufacturers to which the Group sells its products could entail substantial costs and may adversely affect the Group's operating results and financial position. Accordingly, the company is strengthening its quality improvement efforts and establishing systems to prevent recalls.」
The company continues to disclose the risk of substantial costs arising from product defects and recalls, and its response through quality improvements. - FY2019RestatedAnnual report
「In particular, product defects that result in recalls by automotive manufacturers to which the Group sells its products could entail substantial costs and may adversely affect the Group's operating results and financial position.」
The company reiterates the risk of costs arising from product defects, particularly when they result in recalls by automotive manufacturers. - FY2017RestatedAnnual report
「In particular, product defects that result in recalls by automotive manufacturers to which the Group sells its products could entail substantial costs and may adversely affect the Group's operating results and financial position.」
The company reiterates the risk of costs arising from product defects, particularly when they result in recalls by automotive manufacturers. - FY2016First statedAnnual report
「In particular, product defects that result in recalls by automotive manufacturers to which the Group sells its products could entail substantial costs and may adversely affect the Group's operating results and financial position.」
While manufacturing in accordance with quality control standards, the company discloses the potential burden of collection costs and compensation to customers when defects occur, as well as costs associated with recalls by automotive manufacturers.