Sanwa Shutter Corp. said Thursday it will not pay bonuses to any of its 10 board members for fiscal 2003 due to a fatal accident involving one of the firm's revolving doors at Tokyo's Roppongi Hills complex.
The board members include Sanwa Shutter President Toshitaka Takayama.
A 6-year-old boy was killed in March when his head was crushed in a revolving door manufactured by Sanwa Tajima Corp., a subsidiary of Sanwa Shutter.
The company said it expects group sales to fall by about 4 billion yen in fiscal 2004 and operating profit to decline by 1.5 billion yen due to the negative publicity caused by the fatality.
It said it expects to see no revenues in the group's revolving door segment in the current year because many high-rise office buildings stopped operating their revolving doors following the Roppongi Hills fatality. In fiscal 2003, the firm earned 300 million yen from sales of revolving doors.
The fatality, which evolved into a social issue in Japan, is expected to erode the Sanwa Shutter group's earnings further by affecting other business segments of the company, whose corporate image was severely tarnished by the accident.