Fujitsu 2013 Annual Report Download - page 136

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<Outside Japan>
Fujitsu Services Holdings PLC (including its consolidated subsidiaries, “FS”) adopted International Financial Reporting Standards (“IFRS”)
effective the year ended March 31, 2006, and accounts for retirement benefits in accordance with IAS 19 “Employee Benefits” issued in
February, 1998. For this change in accounting principles and practices, FS adopted IFRS 1 “First-time Adoption of International Financial
Reporting Standards,” and recognized the projected benefit obligation in excess of plan assets as of the beginning of the year ended
March 31, 2005. For the year ended March 31, 2009, other consolidated subsidiaries outside Japan applied IAS19 in accordance with
adoption of IFRS. They recognized actuarial gains or losses over future periods after the adoption of IFRS 1 and applied the “corridor
approach” to amortization of actuarial gain and loss.
From the beginning of the year ending March 31, 2014, the Company’s consolidated subsidiaries outside Japan will adopt the
amended IAS19, issued on June 16, 2011 and effective for fiscal year beginning on or after January 1, 2013.
Projected benefit obligation and plan assets
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2012 2013 2013
Projected benefit obligation ¥(571,823) ¥(719,178) $(7,650,830)
Plan assets 408,126 618,440 6,579,149
Projected benefit obligation in excess of plan assets (163,697) (100,738) (1,071,681)
Unrecognized actuarial loss*1109,714 157,371 1,674,160
Asset ceiling adjustments*1(802) (248) (2,638)
Prepaid pension cost (9,830) (130,099) (1,384,032)
Accrued retirement benefits ¥ (64,615) ¥ (73,714) $ (784,191)
*1 The prior-year figure is restated because the adjustment arising from the asset ceiling, which was previously included in unrecognized actuarial gains and losses, is
now reported as a separate line item. If the fair value of the plan assets exceeds the obligations arising from the pension benefits, prepaid pension cost is adjusted
for any effect of limiting it to the asset ceiling.
Components of net periodic benefit cost
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2012 2013 2013
Service cost ¥ 3,707 ¥ 3,471 $ 36,926
Interest cost 27,154 27,361 291,074
Expected return on plan assets (24,145) (22,624) (240,681)
Amortization of the unrecognized obligation for retirement benefit:
Amortization of actuarial gain and loss 3,498 6,546 69,638
Amortization of prior service cost (118) 158 1,681
Contribution to defined contribution plans 13,488 14,642 155,766
Net periodic benefit cost 23,584 29,554 314,404
Loss on termination of retirement benefit plan 114 34 362
Total ¥ 23,698 ¥ 29,588 $ 314,766
Assumptions used in accounting for the plans
At March 31 2012 2013
Discount rate*2Mainly 5.0% Mainly 4.4%
Expected rate of return on plan assets Mainly 6.7% Mainly 5.7%
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
*2 The discount rate used for the calculation of projected benefit obligation as of March 31, 2013 was revised to be in line with the market yields as of March 31, 2013.
134 FUJITSU LIMITED ANNUAL REPORT 2013