Liability Arising from Product Defects
First written in FY2022. 3 of 4 entries say "Materialised", first in FY2023-Q3. Latest entry: FY2024.
The whole theme swung hardest in 2026: 11 of 57 companies on the "Worse" side.
- FY2024MaterialisedAnnual report
「After defects were identified in medical packaging materials manufactured by a Thai subsidiary and the customer indicated its intention to seek compensation, the company recorded ¥2,198 million as a provision for contingent loss during the consolidated fiscal year.」
The risk of liability for damages caused by product defects materialised during the full fiscal year in the form of a customer's stated intention to seek compensation and the recording of a ¥2.198 billion provision. - FY2024-Q3MaterialisedAnnual report
「A customer pointed out defects in medical packaging materials manufactured by the Thai subsidiary and indicated its intention to seek compensation. Accordingly, the Company recorded ¥2.198 billion in provision for contingent loss during the cumulative third quarter of the fiscal year. Negotiations with the customer will continue.」
The previous year's suspected shipment of products that failed to meet specifications materialised in the form of a customer's stated intention to seek compensation for medical packaging materials manufactured by the Thai subsidiary and the recording of a ¥2.198 billion provision. - FY2023-Q3MaterialisedAnnual report
「It was confirmed that some packaging materials suspected of failing to meet specifications agreed with customers had been shipped. Depending on the future progress of this matter, compensation costs and other expenses for customers could affect the Company's future financial position and operating results. However, because it is difficult to reasonably estimate the amount of the impact, it has not been reflected in the quarterly consolidated financial statements.」
The suspected shipment of packaging materials that failed to meet specifications was confirmed, materialising as a matter that could result in compensation costs and other expenses for customers. - FY2022First statedAnnual report
「If the Group's products are defective, the Group may be liable for damages, which could affect its business performance.」
For the first time, separately identified liability for damages caused by product defects as a major risk and presented the quality management system and product liability insurance as countermeasures.