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64 NIKON REPORT 2016
Long-term debt at March 31, 2015 and 2016 consisted of the following:
Millions of Yen
Thousands of
U.S. Dollars
2015 2016 2016
Loans, principally from banks and insurance companies:
2015: 0.61300% – 1.95250% due 2015 - 2026
2016: 0.23000% – 1.19375% due 2016 - 2028 ¥ 49,600 ¥ 47,100 $ 417,998
Obligations under nance leases 2,298 2,072 18,392
Bonds 50,000 50,000 443,735
Total 101,898 99,172 880,125
Less: Current portion (16,012) (13,671) (121,330)
Long-term debt, less current portion ¥ 85,886 ¥ 85,501 $ 758,795
The aggregate annual maturities of long-term debt at March 31, 2016 are as follows:
Years ending March 31 Millions of Yen
Thousands of
U.S. Dollars
2017 ¥13,671 $121,330
2018 10,530 93,447
2019 331 2,939
2020 2,359 20,932
2021 11,088 98,404
Thereafter 61,193 543,073
Total ¥99,172 $880,125
8. Retirement and Pension Plans
The Company has a dened-benet corporate pension plan (cash balance plan) and a dened-contribution pension plan, and its consolidated
domestic subsidiaries have a dened-benet corporate pension plan and unfunded retirement benet plans. Certain domestic subsidiaries have
a smaller enterprise retirement allowance mutual aid system. Certain foreign subsidiaries also have a dened benet plan and a dened contribution
pension plan.
The Group accounted for the liability for retirement benets based on the projected benet obligations and plan assets at the balance sheet date.
(1) The changes in dened benet obligation for the years ended March 31, 2015 and 2016 were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2015 2016 2016
Balance at beginning of year (as previously reported) ¥118,130 ¥147,315 $1,307,378
Cumulative effect of accounting changes 18,587
Balance at the beginning of the year (as restated) 136,717 147,315 1,307,378
Current service cost 3,418 3,471 30,807
Interest cost 2,418 2,060 18,277
Actuarial gains and losses 9,477 4,383 38,894
Benets paid (6,986) (6,707) (59,520)
Others 2,271 (2,988) (26,517)
Balance at end of year ¥147,315 ¥147,534 $1,309,319