Product Liability Risk Arising from Serious Product Defects
First written in FY2022. 1 of 2 entries say "Restated". Latest entry: FY2023.
The whole theme swung hardest in 2026: 11 of 56 companies on the "Worse" side.
- FY2023RestatedAnnual report
「The group manufactures products under strict quality control, but there is no absolute guarantee that serious defects will not occur. Although it has insurance covering product liability claims, an accident resulting in large-scale product liability claims could seriously affect the reliability of the group's products. The insurance may not provide sufficient coverage, resulting in substantial costs and potentially affecting the group's financial position, operating results and other aspects of its business.」
The company continues its policy of reducing the risks of serious product defects and product liability claims through insurance coverage and improved quality. - FY2022First statedAnnual report
「The group manufactures products under strict quality control, but there is no absolute guarantee that serious defects will not occur. Although it has insurance covering product liability claims, an accident resulting in large-scale product liability claims could seriously affect the reliability of the group's products. The insurance may not provide sufficient coverage, resulting in substantial costs and potentially affecting the group's financial position, operating results and other aspects of its business.」
The company identified for the first time as a major risk the impact on reliability and costs of serious product defects and large-scale product liability claims, and identified risk reduction through improved quality as a response measure.