Casio 2015 Annual Report Download - page 35

Financial Section
Management
Foundation Corporate Data
Annual Report 2015 CONTENTS / 4234
Prole To Our Stakeholders Casio's Strength Special Features Financial Highlights
Notes to Consolidated Financial Statements
(3) Adjustments of amount of deferred tax assets and liabilities due to change in the corporate tax rate
The “Act for Partial Revision of the Income Tax Act and Others” (Act No. 9 of 2015) and the “Act for Partial
Revision of the Local Tax Act and Others” (Act No. 2 of 2015) were officially enacted on March 31, 2015
and the income tax rate has been reduced from the fiscal year beginning April 1, 2015. Under these
revised acts, the effective tax rate used for calculating deferred tax assets and deferred tax liabilities has
been reduced from 35.6% to 33.1% for the temporary differences expected to reverse in the fiscal year
beginning April 1, 2015, and to 32.3% for those expected to reverse from the fiscal year beginning April 1,
2016.
As a result, the amount of net deferred tax assets decreased by ¥680 million ($5,667 thousand) and
income taxes-deferred increased by ¥1,588 million ($13,233 thousand), valuation difference on available-
for-sale securities increased by ¥555 million ($4,625 thousand) and remeasurements of defined benefit
plans increased by ¥353 million ($2,942 thousand) as of and for the year ended March 31, 2015.
10. Retirement Benefits
(1) Defined benefit plan (Defined benefit plans, including multi-employer pension plans)
1) Movement in projected benefit obligation (except plans applied simplified method)
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2015 2014 2015
Projected benefit obligation at beginning of period ....................... ¥48,825 ¥48,929 $406,875
Service cost .......................................................................... 1,582 1,640 13,184
Interest cost .......................................................................... 949 938 7,908
Actuarial differences accrued ................................................. 4,305 (1,058) 35,875
Benefits paid ......................................................................... (1,954) (1,981) (16,283)
Others .................................................................................. 499 357 4,158
Projected benefit obligation at end of period ................................ ¥54,206 ¥48,825 $451,717
2) Movement in pension plan assets (except plans applied simplified method)
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2015 2014 2015
Pension plan assets at beginning of period ...................................... ¥57,728 ¥52,546 $481,067
Expected return on pension plan assets ..................................... 1,896 1,711 15,800
Actuarial differences accrued ..................................................... 7,099 3,515 59,158
Contributions paid by the employer ............................................ 1,449 1,671 12,075
Benefits paid ............................................................................. (2,073) (1,980) (17,275)
Others ...................................................................................... 577 265 4,808
Pension plan assets at end of period ............................................... ¥66,676 ¥57,728 $555,633
3) Movement in net defined benefit liability for plans applied the simplified method
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2015 2014 2015
Net defined benefit liability at beginning of period ........................ ¥ 142 ¥ 129 $ 1,183
Retirement benefit expenses .................................................. (394) 231 (3,284)
Benefits paid ......................................................................... (6) (31) (50)
Contributions paid by the employer ........................................ (181) (205) (1,508)
Others .................................................................................. (10) 18 (83)
Net defined benefit liability at end of period ................................. ¥ (449) ¥ 142 $ (3,742)
4) Reconciliation from projected benefit obligation and pension plan assets to liability (asset) for retirement
benefits
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2015 2014 2015
Funded projected benefit obligation............................................. ¥ 58,321 ¥ 53,029 $ 486,008
Pension plan assets .................................................................... (71,429) (61,945) (595,242)
(13,108) (8,916) (109,234)
Unfunded projected benefit obligation ......................................... 189 155 1,575
Total net liability (asset) for retirement benefits recorded on
the consolidated balance sheets .............................................. (12,919) (8,761) (107,659)
Net defined benefit liability .......................................................... 1,219 860 10,158
Net defined benefit asset ............................................................ (14,138) (9,621) (117,817)
Total net liability (asset) for retirement benefits recorded on
the consolidated balance sheets .............................................. ¥(12,919) ¥(8,761) $(107,659)
(Note): Including plans applied the simplified method.