Product defects, recalls and claims
First written in FY2016. 3 of 6 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2026: 11 of 58 companies on the "Worse" side.
- FY2025RestatedAnnual report
「As a manufacturing company, our group manufactures products with the goal of zero quality defects. If a serious accident, product recall, claim or quality misconduct occurs in this manufacturing process, it could damage our brand image. In addition, if compensation and other costs cannot be fully covered by product liability insurance or other insurance, this could affect our operating results and financial position.」
The company continues to recognize the goal of zero quality defects and the risks associated with product defects, recalls, claims and quality misconduct. - FY2021ReframedAnnual report
「As a manufacturing company, our group manufactures products with the goal of zero quality defects. If a serious accident, product recall, claim or quality misconduct occurs in this manufacturing process, it could damage our brand image. In addition, if compensation and other costs cannot be fully covered by product liability insurance or other insurance, this could affect our operating results and financial position.」
The risk has been reorganized as a quality risk that explicitly includes quality misconduct in addition to the existing risks of product defects, recalls and claims. - FY2020WorsenedAnnual report
「As a manufacturing company, our group is working across the group to maintain and improve quality, including by strengthening its quality control systems with the goal of achieving zero quality defects. However, if compensation payments and other costs arising from a serious accident caused by a product defect, a recall, a claim or other such event cannot be fully covered by product liability insurance or other insurance, this could damage our brand image and materially affect our operating results and financial position.」
In addition to the previously identified financial impact, the company explicitly identifies deterioration of its brand image and material impact, expanding the stated scope of the effects of quality defect risk. - FY2019RestatedAnnual report
「As a manufacturing company, our group is working across the group to maintain and improve quality with the goal of zero quality defects. However, if compensation and other costs arising from a serious accident, product recall, claim or similar event caused by a product defect cannot be fully covered by product liability insurance or other insurance, this could affect our operating results and financial position.」
The company continues to maintain its policy of zero quality defects and identify the risk of financial impacts from product defects, recalls and claims. - FY2018RestatedAnnual report
「As a manufacturing company, our group is working across the group to maintain and improve quality with the goal of zero quality defects. However, if compensation and other costs arising from a serious accident, product recall, claim or similar event caused by a product defect cannot be fully covered by product liability insurance or other insurance, this could affect our operating results and financial position.」
The company continues to disclose its goal of zero quality defects and the potential financial impact of product defects, recalls and claims. - FY2016First statedAnnual report
「However, if compensation payments and other costs arising from a serious accident caused by a product defect, a recall, a claim or other such event cannot be fully covered by product liability insurance or other insurance, our operating results and financial position could be affected.」
The company identifies the financial impact of product defects and other issues as a risk, alongside its policy of seeking zero quality defects.