Regulatory Risks Related to Product Liability, Medical Devices, Labeling, and Other Matters
First written in FY2016. 2 of 3 entries say "Restated". Latest entry: FY2018.
The whole theme swung hardest in 2017: 2 of 14 companies on the "Worse" side.
17 other companies' latest entry also says "Restated".
- FY2018RestatedAnnual report
「In manufacturing and selling contact lenses and cosmetics, our group operates after obtaining the permits and registrations required under the Act on Securing Quality, Efficacy and Safety of Products Including Pharmaceuticals and Medical Devices.」
The company continues to address regulatory risks relating to product liability, labeling, containers and packaging, subcontracting transactions, and licensing requirements for medical devices and cosmetics. - FY2017RestatedAnnual report
「The principal laws and regulations applicable to our group include the Product Liability Act, which is intended to protect consumers from defective products; the Containers and Packaging Recycling Act, which imposes obligations including recycling obligations on businesses that sell products using containers and packaging; the Act against Unjustifiable Premiums and Misleading Representations, which is intended to prevent consumers from being induced by misleading representations; and the Act against Delay in Payment of Subcontract Proceeds, Etc. to Subcontractors, which is intended to ensure fair subcontracting transactions and protect the interests of subcontractors.」
The company continues to disclose regulatory risks relating to product labeling, product liability, containers and packaging, subcontracting transactions, and licensing requirements for medical devices and cosmetics throughout the fiscal year. - FY2016First statedAnnual report
「The principal laws and regulations applicable to our group include the Product Liability Act, which is intended to protect consumers from defective products; the Act on the Promotion of Sorted Collection and Recycling of Containers and Packaging (Containers and Packaging Recycling Act), which imposes obligations including recycling obligations on businesses that sell products using containers and packaging; the Act against Unjustifiable Premiums and Misleading Representations, which is intended to prevent consumers from being induced by misleading representations; and the Act against Delay in Payment of Subcontract Proceeds, Etc. to Subcontractors, which is intended to ensure fair subcontracting transactions and protect the interests of subcontractors.」
The company lists multiple product-related laws and regulations and licensing requirements for medical devices and cosmetics, and indicates the possibility of higher costs and product-planning revisions resulting from legal amendments and other changes.