Pentax 2002 Annual Report Download - page 44

Download and view the complete annual report

Please find page 44 of the 2002 Pentax 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.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

42
Annual maturities of long-term bank loans as of March 31, 2002 were as follows:
Thousands of
Year Ending March 31 Millions of Yen U.S. Dollars
2003 ¥73 $ 549
2004 466 3,504
2005 45 338
2006 39 293
2007 19 143
Total ¥642 $4,827
N
O
»9RETIREMENT BENEFITS AND PENSION PLANS
The Company and its certain consolidated domestic subsidiaries have severance payment plans for employees, directors and
corporate auditors.
Under most circumstances, employees terminating their employment are entitled to retirement benefits determined based on
the rate of pay at the time of termination, years of service and certain other factors. Such retirement benefits are made in the
form of a lump-sum severance payment from the Company or from certain consolidated subsidiaries and annuity payments
from a trustee. Employees are entitled to larger payments if the termination is involuntary, by retirement at the mandatory
retirement age, by death, or by voluntary retirement at certain specific ages prior to the mandatory retirement age.
Effective April 1, 2000, the Group adopted a new accounting standard for employees’ retirement benefits.
The liability for employees’ retirement benefits at March 31, 2002 and 2001 consisted of the following:
Thousands of
Millions of Yen U.S. Dollars
2002 2001 2002
Projected benefit obligation ¥66,510 ¥54,238 $ 500,075
Fair value of plan assets (37,126) (40,108) (279,143)
Unrecognized prior service cost 1,696 1,858 12,752
Unrecognized actuarial loss (27,757) (12,300) (208,699)
Unrecognized transitional obligation 2,745 2,956 20,639
Prepaid pension cost 1,244 1,717 9,353
Net liability ¥7,312 ¥8,361 $ 54,977
No»8short-term bank loans and long-term bank loans
Short-term bank loans at March 31, 2002 and 2001 consisted of the following:
Thousands of
Millions of Yen U.S. Dollars
2002 2001 2002
Short-term loans and overdrafts, principally from banks, with interest rates
ranging from 0.33% to 11.16% (2002) and
from 0.9125% to 7.85% (2001) ¥3,306 ¥4,570 $24,857
Long-term bank loans as of March 31, 2002 and 2001 consisted of the following:
Thousands of
Millions of Yen U.S. Dollars
2002 2001 2002
3.724% unsecured Euro-denominated loans, ¥380 ¥333 $ 2,857
due through 2004 (in 2002) and 5.30912% unsecured
France franc-denominated loans, due through 2003 (in 2001)
5.9%-6.2% unsecured Swedish kroua-denominated loans, 173 1,301
due through 2007
Other loans 89 152 669
Total 642 485 4,827
Less current portion (73) (61) (549)
Long-term bank loans, less current portion ¥569 ¥424 $ 4,278