Product Liability and Major Recall Risks
First written in FY2016. 5 of 9 entries say "Materialised", first in FY2022. Latest entry: FY2024.
Zojirushi moved to the "Worse" side of this theme in 2023, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 13 of 35 companies on the "Worse" side.
13 other companies' latest entry also says "Mitigated".
- FY2024MitigatedAnnual report
「Current consolidated fiscal year There are no applicable matters.」
A ¥23 million provision expense for losses related to voluntary product recalls was recorded in the previous fiscal year but not in the current fiscal year. This does not state that the voluntary-recall risk has been eliminated; it indicates that no provision expense was recorded in the current fiscal year. - FY2023MaterialisedAnnual report
「Provision for losses related to voluntary product recalls represents the reasonably estimated amount of losses set aside to cover losses associated with voluntary product recalls that may occur in the future.」
A ¥23 million provision expense for losses related to voluntary product recalls was recorded, indicating that product-quality and voluntary-recall risks continued to materialize as actual costs. - FY2023-Q3MaterialisedAnnual report
「Provision for losses related to voluntary product recalls 14」
A ¥14 million provision expense for losses related to voluntary product recalls was recorded, indicating that product-quality and voluntary-recall risks continued to materialize as actual costs. - FY2023-Q2MaterialisedAnnual report
「Provision for losses related to voluntary product recalls represents the reasonably estimated amount of losses set aside to cover losses associated with voluntary product recalls that may occur in the future.」
A ¥13 million provision expense for losses related to voluntary product recalls was recorded, indicating that measures addressing product-quality and voluntary-recall risks continued during the quarter. - FY2023-Q1MaterialisedAnnual report
「Provision for losses related to voluntary product recalls 12」
A ¥12 million provision expense for losses related to voluntary product recalls was recorded, indicating that measures addressing product-quality and voluntary-recall risks continued during the quarter. - FY2022MaterialisedAnnual report
「Losses related to voluntary product recalls are losses incurred as a result of voluntarily recalling products. Provision for losses related to voluntary product recalls represents the reasonably estimated amount of losses set aside to cover losses associated with voluntary product recalls that may occur in the future.」
The product-quality risk, previously a potential risk of a large-scale defect or recall, materialized in a voluntary recall, resulting in a ¥4 million loss and a ¥88 million provision expense. - FY2018RestatedAnnual report
「Our group manufactures a range of products in accordance with strict quality-control standards with the aim of providing high-quality products. To meet our manufacturers' liability obligations in the event of a product defect or other issue, we maintain product liability insurance. However, a large-scale product defect or recall could affect our group's operating results and financial position.」
Quality control, product liability insurance and the risk of a large-scale defect or recall were reiterated. - FY2017RestatedAnnual report
「Our group manufactures a range of products in accordance with strict quality-control standards with the aim of providing high-quality products. To meet our manufacturers' liability obligations in the event of a product defect or other issue, we maintain product liability insurance. However, a large-scale product defect or recall could affect our group's operating results and financial position.」
Quality control, product liability insurance and the potential risk of a large-scale defect or recall were reiterated. - FY2016First statedAnnual report
「Our group manufactures a range of products in accordance with strict quality-control standards with the aim of providing high-quality products. To meet our manufacturers' liability obligations in the event of a product defect or other issue, we maintain product liability insurance. However, a large-scale product defect or recall could affect our group's operating results and financial position.」
After describing quality control and product liability insurance, the risk of a large-scale defect or recall is identified for the first time as a potential risk.