Semiconductor Production Stoppage and Business Impact from the Kumamoto Earthquake
First written in FY2016. 4 of 5 entries say "Mitigated", first in FY2017-Q1. Latest entry: FY2018-Q3.
2 other companies' latest entry also says "Mitigated".
- FY2018-Q3MitigatedAnnual report
「Insurance proceeds received for lost profits and other losses related to the 2016 Kumamoto Earthquake (¥6,700 million in the Semiconductors segment and ¥2,600 million in the IP&S segment)」
Insurance proceeds related to the Kumamoto Earthquake were included in operating income for the year-to-date period of the third quarter, and compensation for the impact of the losses continued to be recognized. - FY2017MitigatedAnnual report
「In April 2017, Sony reached an agreement with its insurers on payment of the remaining ¥10,000 million in insurance proceeds, primarily for business interruption losses. As a result, a total of ¥20,000 million in insurance proceeds was paid to Sony in April 2017.」
The total insurance proceeds paid in relation to the Kumamoto Earthquake reached ¥20,000 million in April 2017. - FY2017-Q3MitigatedAnnual report
「Based on the scope of effective insurance contracts, negotiations with insurers, the insurers' past record of insurance payments and Sony's assessment that the insurers had the financial capacity to pay insurance claims, Sony determined that it was probable that it would receive insurance proceeds from its claims.」
Sony recognized ¥10,000 million in insurance receivables for losses related to the Kumamoto Earthquake and offset part of the damage against insurance proceeds. - FY2017-Q1MitigatedAnnual report
「As a result of efforts to restore operations, production recovered to pre-earthquake levels on a wafer-input basis by the end of July 2016.」
Although Sony recognized expenses including repair costs and loss on disposal following the production stoppage caused by the Kumamoto Earthquake, production recovered to pre-earthquake levels on a wafer-input basis by the end of July 2016. - FY2016First statedAnnual report
「Following the effects of the 2016 Kumamoto Earthquake, which occurred from 14 April 2016 onward, production activities were disrupted at Sony Semiconductor Manufacturing Corporation's Kumamoto Technology Center, a key manufacturing facility for image sensors used mainly in digital cameras and security cameras, and for display devices.」
The earthquake had already occurred as of the filing company's planning date, and the filing described disruptions to production activities and an expected decline in fiscal 2016 sales.