Konica Minolta 2002 Annual Report Download - page 31
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Please find page 31 of the 2002 Konica Minolta annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.29 Konica 2002
The scheduled maturities of future lease rental income on such
lease contracts as of March 31, 2002 and 2001 are as follows:
Thousands of
Millions of yen U.S. dollars
2002 2001 2002
Due within one year ¥ 88 ¥ 87 $661
Due over one year ———
88 87 661
Lease rental income for the year 792 1,030 5,946
Depreciation for the year ¥689 ¥ 896 $5,173
13. Retirement Benefits Plan
The Company and its subsidiaries have defined benefit retirement
plans: the plan which is governed by the Japanese Welfare Pension
Insurance Law, the tax-qualified pension plan and the lump-sum
payment plan. In addition, in some cases when employees retire,
the Company provides for additional retirement benefits that are
not in accordance with the retirement benefit accounting.
The reserve for retirement benefits as of March 31, 2002 is ana-
lyzed as follows:
Thousands of
Millions of yen U.S. dollars
a. Retirement benefit obligations ¥(112,988) $(848,258)
b. Plan assets 59,511 446,779
c. Unfunded retirement benefit
obligations (a+b) (53,477) (401,479)
d. Unrecognized transition amount 4,227 31,734
e. Unrecognized actuarial differences 15,620 117,267
f. Unrecognized prior service cost (16) (120)
g. Net amount on consolidated
balance sheets (c+d+e+f) (33,645) (252,590)
h. Prepaid pension cost 1,432 10,751
i. Accrued retirement benefits (g–h) ¥ (35,078) $(263,348)
Note: The above table includes the amounts related to the portion subject to the
Japanese Welfare Pension Insurance Law.
Net pension expense related to the retirement benefits for the
year ended March 31, 2002 is as follows:
Thousands of
Millions of yen U.S. dollars
a. Service costs ¥ 5,473 $41,089
b. Interest costs 3,375 25,338
c. Expected return on plan assets (1,096) (8,228)
d. Amortization of transition amount 1,647 12,365
e. Actuarial differences that are
accounted for as expenses 574 4,309
f. Prior service costs that are
accounted for as expenses (4) (30)
g. Retirement benefit costs
(a+b+c+d+e+f) ¥ 9,970 $74,850
Assumptions used in calculation of the above information are
as follows:
a. Method of attributing the retirement benefits
to periods of service Straight-line basis
b. Discount rate Mainly 3.5%
c. Expected rate of return on plan assets Mainly 2.5%
d. Amortization of unrecognized prior service cost Mainly 10 years
e. Amortization of unrecognized actuarial differences Mainly 10 years
f. Amortization of transition amount The Company: Fully amortized
Subsidiaries: 5 years
14. Related Party Transactions
Material transactions of the Company with its related companies
and individuals, excluding transactions with consolidated sub-
sidiaries which are eliminated in the consolidated financial state-
ments and other than those disclosed elsewhere in these financial
statements, for the year ended March 31, 2002 are as follows:
Thousands of
Millions of yen U.S. dollars
Name of related company
SECONIC CORPORATION
Paid-in capital
¥ 1,503 $ 11,284
Principal business
Production and sales of copy machines
Equity ownership percentage by the Company
38%
Description of the Company’s transaction:
Purchase amounts from April 2001 to
March 2002
¥21,924 $164,595
Balance of accounts payable—trade as of
March 31, 2002
¥ 6,054 $ 45,450
The terms and conditions of the above transactions are on an arm’s-length basis.
15. Segment Information
Segment information is reported in accordance with the require-
ments of the MOF. The photographic materials segment includes
photographic film, photographic paper, photofinishing equipment
and chemicals, videotapes and others. The business machines
segment includes plain-paper copiers, printers, facsimile machines,
cameras, optical products and others.
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