Hitachi 2005 Annual Report Download - page 66
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Hitachi, Ltd. Annual Report 2006
64
The Company and substantially all subsidiaries use their year-end as a measurement date. Weighted-average assumptions
used to determine the year-end benefit obligations are as follows:
2006 2005
Discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5% 2.5%
Rate of compensation increase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5% 2.9%
Weighted-average assumptions used to determine the net periodic pension cost for the years ended March 31, 2006,
2005 and 2004 are as follows:
2006 2005 2004
Discount rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5% 2.5% 2.5%
Expected long-term return on plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0% 3.0% 3.7%
Rate of compensation increase . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9% 3.1% 3.3%
The expected long-term rate of return on plan assets is developed for each asset class, and is determined primarily on
historical returns on the plan assets and other factors.
The accumulated benefit obligation was ¥2,112,216 million ($18,053,128 thousand) as of March 31, 2006 and ¥2,167,152
million as of March 31, 2005.
Information for pension plans with accumulated benefit obligations in excess of plan assets and pension plans with
projected benefit obligations in excess of plan assets is as follows:
Thousands of
Millions of yen U.S. dollars
2006 2005 2006
Plans with accumulated benefit obligations in excess of plan assets:
Accumulated benefit obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥1,988,054 ¥2,128,876 $16,991,915
Plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,217,060 1,118,739 10,402,222
Plans with projected benefit obligations in excess of plan assets:
Projected benefit obligations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ¥2,144,176 ¥2,306,142 $18,326,291
Plan assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,261,697 1,157,541 10,783,735
Asset allocations for the pension plans as of March 31, 2006 and 2005 are as follows:
2006 2005
Equity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44.7% 40.9%
Debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.3 33.2
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.7 7.0
Life insurance company general accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.1 6.3
Investment trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.3 10.2
Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.9 2.4
100.0% 100.0%