Risk of defects in imported products and product liability
First written in FY2016. 4 of 7 entries say "Restated". Latest entry: FY2023.
1 other company's latest entry also says "Restated".
- FY2023RestatedAnnual report
「Before products are sold, our Company conducts safety testing and sells only products that meet our Company's safety standards. However, there is no guarantee that all products will be free of defects or that we will not be held liable for product liability claims in the future.」
While conducting pre-sale safety testing and maintaining product liability insurance, the disclosure continues to note the possibility of product defects and liability exceeding the amount covered by insurance. - FY2022RestatedAnnual report
「Before products are sold, our Company conducts safety testing and sells only products that meet our Company's safety standards. However, there is no guarantee that all products will be free of defects or that we will not be held liable for product liability claims in the future.」
While conducting pre-sale safety testing and maintaining product liability insurance, the disclosure continues to note the possibility of product defects and liability exceeding the amount covered by insurance. - FY2021RestatedAnnual report
「Accordingly, our Group maintains product liability insurance against unforeseen circumstances. However, damages may exceed the amount covered by the insurance.」
While conducting pre-sale safety testing and maintaining product liability insurance, the disclosure continues to note the possibility of liability exceeding the amount covered by insurance. - FY2019WorsenedAnnual report
「If our Group becomes liable for damages, even if we seek compensation from the manufacturer, circumstances may arise in which our Group has no choice but to bear the cost of damages, which could adversely affect our Group's business performance and financial condition.」
The disclosure specifies that, even with insurance coverage or a claim for compensation against the manufacturer, our Group may have to bear the cost of damages arising from accidents involving product defects, warnings and other matters. - FY2018RestatedAnnual report
「In addition, if an accident occurs as a result of defects in product warnings or operating instructions, our Group may be held liable. Accordingly, our Group maintains product liability insurance against unforeseen circumstances. However, damages may exceed the amount covered by the insurance.」
The risk of product defects, including defects in warnings and operating instructions and the possibility of liability exceeding the amount covered by insurance, continues to be disclosed. - FY2017WorsenedAnnual report
「In addition, if an accident occurs as a result of defects in product warnings or operating instructions, our Group may be held liable. Accordingly, our Group maintains product liability insurance against unforeseen circumstances. However, damages may exceed the amount covered by the insurance.」
The scope of potential impacts has been expanded to include, in addition to defects in imported products and product liability, defects in warnings and operating instructions and the possibility of liability exceeding the amount covered by insurance. - FY2016First statedAnnual report
「Before products are sold, our Group conducts safety testing and sells only products that meet our Group's safety standards. However, there is no guarantee that all products will be free of defects or that we will not be held liable for product liability claims in the future.」
The risk that we may bear product liability as the seller of imported products is disclosed.