Konica Minolta 2003 Annual Report Download - page 39

KONICA M INOLTA HOLDINGS, INC. 2 0 0 3
Pag e 37
The scheduled maturities of future lease rental payments on such lease
contracts as of March 31, 2003 and 2002 are as follows:
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
Due within one year ¥ 3,564 ¥3,343 $29,651
Due over one year 6,466 6,456 53,794
10,031 9,799 83,453
Lease rental expenses for the year ¥ 4,311 ¥3,463 $35,865
2. Operating Leases
The scheduled maturities of future lease rental payments on such lease con-
tracts as of March 31, 2003 and 2002 are as follows:
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
Due within one year ¥ 4,940 ¥ 4,036 $ 41,098
Due over one year 14,745 14,568 122,671
¥19,685 ¥18,604 $163,769
Lessor
Finance Leases
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
Leased tools and furniture:
Purchase cost ¥576 ¥766 $4,792
Accumulated depreciation (537) (689) (4,468)
Net book value ¥38 ¥ 77 $ 316
The scheduled maturities of future lease rental income on such lease
contracts as of March 31, 2003 and 2002 are as follows:
Thousands of
Millions of yen U.S. dollars
2003 2002 2003
Due within one year ¥ 44 ¥ 88 $ 366
Due over one year ———
44 88 366
Lease rental income for the year 618 792 5,141
Depreciation for the year ¥537 ¥689 $4,468
12. 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, 2003 is analyzed as
follows:
Thousands of
Millions of yen U.S. dollars
a. Retirement benefit obligations ¥(79,163) $(658,594)
b. Plan assets 34,853 289,958
c. Unfunded retirement benefit
obligations (a+b) (44,309) (368,627)
d. Unrecognized transition amount 2,391 19,892
e. Unrecognized actuarial differences 19,645 163,436
f. Unrecognized prior service cost (65) (541)
g. Net amount on consolidated
balance sheets (c+d+e+f) (22,337) (185,832)
h. Prepaid pension cost 1,965 16,348
i. Accrued retirement benefits (g–h) ¥(24,303) $(202,188)
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, 2003 is as follows:
Thousands of
Millions of yen U.S. dollars
a. Service costs ¥4,776 $39,734
b. Interest costs 2,975 24,750
c. Expected return on plan assets (545) (4,534)
d. Amortization of transition amount 1,325 11,023
e. Actuarial differences that are
accounted for as expenses 1,285 10,691
f. Prior service costs that are
accounted for as expenses (156) (1,298)
g. Retirement benefit costs
(a+b+c+d+e+f) ¥9,662 $80,383
The Company and its domestic subsidiaries’ defined benefit plans so far
are comprised of the plan regulated by the Defined Benefit Enterprise
Pension Plan Law, the tax-qualified pension plan and the lump-sum payment
plan. In October 2002, the Company and certain number of subsidiaries
were permitted to transfer the defined portion of their plan regulated by the
Defined Benefit Enterprise Pension Plan Law to Japanese Government’s
Welfare Pension Plan by Japanese Government, then the future payment of
related benefit portion shall be replaced by the government. The fund for the
replacement shall be paid to the government and the related projected
benefit obligation was reversed. The net of the reversal and the payment
resulted in gain amounting to ¥8,081 million. In addition, the Company and
some subsidiaries changed a portion of tax-qualified pension plan to contri-
bution plan, of which the necessary contribution at transition was made par-
tially by the assets of tax-qualified pension plan. The rest amounting ¥2,993
million was charged to income during the year.