Kobayashi Pharmaceutical to Exit Troubled Supplement Business

TOKYO, Aug 10 (News On Japan) - Kobayashi Pharmaceutical has decided to withdraw from its Red Yeast Rice supplement business, according to a statement made by the new president, Satoshi Yamane, in his first press conference on the 8th of August.

This press conference, the first in about four months since March, was attended by both the former president Akihiro Kobayashi, who recently resigned, and the new president Yamane. In addition to announcing the withdrawal, they revealed that the company’s net profit for the interim financial results had dropped by more than 80% compared to the previous year. Yamane expressed his commitment to restoring trust, stating, "We have caused an unacceptable situation."

Kobayashi Pharmaceutical’s new president, Satoshi Yamane, commented, "I believe our company is facing the greatest challenge since its founding. We will focus on product safety and recommit ourselves to manufacturing with passion."

Furthermore, starting on the 19th of this month, the company will begin accepting claims for compensation related to medical expenses and other damages.

Source: YOMIURI

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