Konica Minolta 2008 Annual Report Download - page 52

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On March 1, 2004, the Ministry of Health, Labour and
Welfare permitted that the substitutional portion of the Minolta
Welfare Pension Fund be returned to the government, and the
remaining portion of the Fund was integrated into a CDBP. A por-
tion of the Minolta lump-sum payament plan was transferred to a
CDBP on the same date.
On April 1, 2004, a portion of the Minolta lump-sum payment
plan was transferred to a defined contribution pension plan.
The reserve for retirement benefits as of March 31, 2008 and
2007 is analyzed as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2008 2007 2008
a. Retirement benefit
obligations ¥(144,011) ¥(149,936) $(1,437,379)
b. Plan assets 91,360 108,766 911,867
c. Unfunded retirement
benefit obligations
(a+b) (52,651) (41,170) (525,512)
d. Unrecognized
actuarial differences 10,276 (4,528) 102,565
e. Unrecognized
prior service costs (8,131) (9,557) (81,156)
f. Net amount on
consolidated balance
sheets (c+d+e) (50,506) (55,256) (504,102)
g. Prepaid pension costs 2,861 2,690 28,556
h. Accrued retirement
benefits (f-g) ¥ (53,367) ¥ (57,947) $ (532,658)
Note: Certain subsidiaries use a simplified method for the calculation of
benefit obligation.
Net retirement benefit costs for the years ended March 31,
2008 and 2007 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2008 2007 2008
a. Service costs ¥ 5,662 ¥ 6,383 $ 56,513
b. Interest costs 4,410 4,244 44,016
c. Expected return on
plan assets (3,095) (2,887) (30,891)
d. Amortization of
actuarial differences 1,248 338 12,456
e. Amortization of
prior service costs (1,426) (1,529) (14,233)
f. Retirement benefit costs
(a+b+c+d+e) 6,799 6,549 67,861
g. Contributions to defined
contribution pension
plans 3,199 2,745 31,929
Total (f+g) ¥ 9,998 ¥ 9,295 $ 99,790
Note: Retirement benefit costs of consolidated subsidiaries using a sim-
plified method are included in “ a. Service costs” .
In addition to the above retirement benefit costs, ¥460 million
($4,591 thousand) of additional retirement expenses were recorded
in other income (expenses) for the year ended March 31, 2008.
As Lessor
1) Finance Leases
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2008 2007 2008
Leased rental
business-use assets:
Purchase cost ¥ 22,648 ¥ 28,524 $ 226,051
Less: Accumulated
depreciation (13,523) (17,940) (134,974)
Net book value ¥ 9,125 ¥ 10,584 $ 91,077
The scheduled maturities of future finance lease rental income
as of March 31, 2008 and 2007 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2008 2007 2008
Due within one year ¥4,179 ¥5,089 $41,711
Due over one year 4,945 3,953 49,356
Total ¥9,125 ¥9,043 $91,077
Lease rental income and depreciation under the finance leases
which are accounted for in the same manner as operating leases
for the years ended March 31 , 2008 and 2007 are as follows:
Lease rental income
for the period ¥4,267 ¥5,638 $42,589
Depreciation ¥3,936 ¥5,312 $39,285
2) Operating Leases
The scheduled maturities of future operating lease rental income
as of March 31, 2008 and 2007 are as follows:
Thousands of
Millions of yen U.S. dollars
March 31 March 31
2008 2007 2008
Due within one year ¥2,238 ¥1,694 $22,338
Due over one year 3,420 1,677 34,135
Total ¥5,658 ¥3,372 $56,473
17. Retirement Benefit Plans
The Companies have defined benefit retirement plans that include
corporate defined benefit pensions plans (CDBPs), which are gov-
erned by the Japanese Welfare Pension Insurance Law, tax-qualified
pension plans and lump-sum payment plans. In addition, the
Companies may pay additional retirement benefits to employees
at their discretion.
The Company and certain of its domestic subsidiaries changed
their retirement plans, as follows:
On April 1, 2003, Konica’s tax-qualified benefit plan was
transferred to a CDBP.
On April 30, 2003, a portion of the Konica lump-sum pay-
ment plan was transferred to a defined contribution pension plan.
On February 1, 2004, the Ministry of Health, Labour and
Welfare permitted that the substitutional portion of the Konica
Welfare Pension Fund be returned to the government, and the
remaining portion of the Fund was integrated into a CDBP.