Risk of Product Warranty Claims and Product Liability Damages
First written in FY2017. 1 of 3 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2026: 11 of 57 companies on the "Worse" side.
- FY2021MitigatedAnnual report
「Taking past cases in which product defects affected the Group's operating performance and financial condition as a warning, we strengthened our quality-assurance initiatives beyond the measures already in place to prevent recurrence. These initiatives included revising factory audit checklists, standardizing quality metrics across the Group, and improving quality-assurance processes through the use of IATF Core Tools, techniques emphasized by international automotive quality-management standards.」
In response to product warranty risk, the Company conducted factory audits, standardized quality metrics and improved quality-assurance processes using IATF Core Tools. - FY2018RestatedAnnual report
「Product defects that could result in substantial product warranty claims or product liability damages may lead to significant costs and materially affect the Company's reputation, as well as adversely affecting operating performance and financial condition.」
The risks of warranty claims and product liability damages arising from product defects continue to be disclosed. - FY2017First statedAnnual report
「Product defects that could result in substantial product warranty claims or product liability damages may lead to significant costs and materially affect the Company's reputation, as well as adversely affecting operating performance and financial condition.」
The potential for substantial warranty claims and product liability damages arising from product defects, and the possibility that insurance may not provide sufficient coverage, were identified as risks.