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Is US Safety Penalty For Defective Cranksets Altering The Investment Case For Shimano (TSE:7309)?
Shimano, Inc. of Japan and Shimano North America Holding, Inc. previously agreed to pay a US$11.50 million civil penalty after the U.S. Consumer Product Safety Commission alleged they failed to promptly report defects in certain 11-speed Hollowtech II bicycle cranksets linked to injuries and a large number of incidents between 2013 and 2022.
Beyond the financial penalty, the settlement pushes Shimano to strengthen its internal safety compliance systems and submit ongoing reports,...