Product Liability Risks Associated with Expansion into Consumer Markets
First written in FY2016. 1 of 3 entries say "Reframed", first in FY2017. Latest entry: FY2021.
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- FY2021RestatedAnnual report
「The Group makes every effort to improve product quality at every stage, from development through shipment, based on its quality control standards. However, product defects that lead to recalls or product liability claims could result in substantial costs, seriously damage the Group's reputation and consequently affect results, including through lower sales.」
The risks of effects on costs, reputation and sales associated with product defects, recalls and product liability claims are reconfirmed. - FY2017ReframedAnnual report
「Although the Group places the highest priority on quality control in manufacturing, product defects that lead to recalls or product liability claims could result in substantial costs, seriously damage the Group's reputation and consequently adversely affect its operating results, including through lower sales.」
The risk is now described as general product liability risk, including product defects, recalls and product liability claims, rather than the previous product liability risk associated with expansion into consumer markets. - FY2016First statedAnnual report
「As the semiconductor business expands its discrete and wafer-chip operations into consumer markets, if quality defects attributable to the Company arise, the Company may bear some or all of the costs associated with recalls conducted by customers.」
Potential quality defects and liability for recall costs associated with expansion of the semiconductor business into consumer markets.