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Note 12 - Commitments and Contingencies
 3 Months Ended
Nov. 30, 2022
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

12.

COMMITMENTS AND CONTINGENCIES

 

Concentrations

 

Two joint ventures (consisting of the Company’s joint ventures in Thailand and Japan) accounted for 47.4% of the Company’s trade joint venture receivables as of November 30, 2022, and two joint ventures (consisting of the Company’s joint ventures in South Korea and Japan) accounted for 42.4% of the Company’s trade joint venture receivables as of November 30, 2021.

 

Legal Matters

 

From time to time, the Company is subject to various other claims and legal actions in the ordinary course of its business. The Company records a liability in its consolidated financial statements for costs related to claims, including future legal costs, settlements and judgments, where the Company has assessed that a loss is probable, and an amount could be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The Company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that material loss may have been incurred. In the opinion of management, as of November 30, 2022, the amount of liability, if any, with respect to these matters, individually or in the aggregate, will not materially affect the Company’s consolidated results of operations, financial position or cash flows.