TOKYOAug. 10 (News On Japan) – Kobayashi Pharmaceutical has decided to withdraw from its Red Yeast Rice supplement business, according to a statement by new President Satoshi Yamane during his first press conference on Aug. 8.
The press conference, the first in about four months since March, was attended by both former President Akihiro Kobayashi, who recently stepped down, and new President Yamane. In addition to announcing the withdrawal, they revealed that the company’s net profit for the interim financial results had fallen by more than 80% compared to the previous year. Yamane expressed his commitment to restoring confidence, stating, “We have caused an unacceptable situation.”
Kobayashi Pharmaceutical’s new president, Satoshi Yamane, said: “I believe our company is facing the greatest challenge since its foundation. We will focus on product safety and rededicate ourselves to manufacturing with passion.”
In addition, the company will begin accepting claims for compensation for medical expenses and other damages starting on the 19th of this month.
Source: YOMIURI
