Fujitsu 2012 Annual Report Download - page 131

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Assumptions used in accounting for the plans
At March 31 2011 2012
Discount rate Mainly 5.6% Mainly 5.0%
Expected rate of return on plan assets Mainly 7.2% Mainly 6.7%
Method of allocating actuarial loss Straight-line method over the employees’
average remaining service period
Straight-line method over the employees’
average remaining service period
15. Share-based Payment Plans
No significant transactions.
16. Income Taxes
In line with “Act for Partial Revision of the Income Tax Act etc. for the Purpose of Creating Taxation System Responding to Changes in
Economic and Social Structures” (Act No. 114 of 2011) and “Act on Special Measures for Securing Financial Resources Necessary to Imple-
ment Measures for Reconstruction following the Great East Japan Earthquake” (Act No. 117 of 2011) published on December 2, 2011,
the statutory income tax rate used for calculating the deferred tax assets and liabilities was changed from 40.6% to 37.9% for assets and
liabilities that are expected to be recovered or settled between April 1, 2012 and March 31, 2015. The rate was also changed to 35.6%
for assets and liabilities expected to be recovered or settled on and after April 1, 2015.
As a result of this change, net deferred tax assets decreased by ¥3,523 million ($42,963 thousand), while deferred income tax and
accumulated other comprehensive income, mainly as unrealized gain and loss on securities, increased by ¥4,666 million ($56,902
thousand) and ¥1,143 million ($13,939 thousand), respectively.
The components of income taxes are as follows:
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2011 2012 2012
Current ¥35,057 ¥23,499 $286,573
Deferred 13,122 6,500 79,268
Income taxes ¥48,179 ¥29,999 $365,841
The reconciliations between the statutory income tax rate and the effective income tax rates for the years ended March 31, 2011
and 2012 are as follows:
Years ended March 31 2011 2012
Statutory income tax rate 40.6% 40.6%
Increase (Decrease) in tax rates:
Valuation allowance for deferred tax assets 7.6% (15.1%)
Goodwill amortization 6.2% 9.2%
Decrease in deferred tax assets in accordance with changes in tax rate — 7.0%
Non-deductible expenses for tax purposes 3.5% 6.2%
Non-taxable income (1.8%) (2.3%)
Tax effect on equity in earnings of affiliates, net (1.5%) (1.9%)
Tax credit (4.1%) (0.2%)
Other (3.4%) 1.5%
Effective income tax rates 47.1% 45.0%
129
FUJITSU LIMITED ANNUAL REPORT 2012
Facts & Figures