Pentax 2008 Annual Report Download - page 65

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No. 5
IMPAIRMENT OF LONG-LIVED ASSETS
$208,594
(88,312)
(18,615)
239
$101,906
2008 2008
Projected benefit obligation
Less fair value of pension assets
Unrecognized actuarial differences
Prepaid pension cost
Employees’ serverance and retirement benefits
¥20,899
(8,848)
(1,865)
24
¥10,210
2007
¥—
—
—
—
¥—
Thousands of U.S. DollarsMillions of Yen
$10,051
1,916
(1,816)
37,189
$47,340
2008 2008
Service costs-benefits earned during the year
Interest cost on projected benefit obligation
Expected return on plan assets
Others
Serverance and retirement benefit expenses
¥1,007
192
(182)
3,726
¥4,743
2007
¥—
—
—
—
¥—
2006
¥—
—
—
—
¥—
Thousands of U.S. DollarsMillions of Yen
No. 6 EMPLOYEES’ SEVERANCE AND RETIREMENT BENEFITS
The Company and certain of domestic subsidiaries provide contribution benefit plan. And Pentax divisions provide defined benefit plans.
Employees’ severance and retirement benefits included in the liability section of the consolidated balances sheets as of March 31, 2008, 2007.
Included in the consolidated statements of income for the years ended March 31, 2008, 2007 and 2006 are severance and retirement benefit expenses
comprised of the following:
The Group reviewed its long-lived assets for impairment for the years
ended March 31, 2008, 2007 and 2006. As a result, the Group
recognized impairment losses of ¥129 million ($1,288 thousand), ¥88
million and ¥864 million for the years ended March 31, 2008, 2007 and
2006, respectively, as other expense for a decline in value, mainly from
property of certain plants including the Tokyo Studio (in Akishima
Plant) of the Crystal division, due to a continuous operating loss of that
unit. The carrying amount of the relevant machinery was written down
to the recoverable amount, which was measured at its value in use. The
discount rate used for computation of the present value of future cash
flows was 5%.
The Group reviewed its intangible fixed assets for impairment for
the year ended March 31, 2008, and as a result recognized an
impairment loss of ¥212 million ($2,116 thousand) as other expense for
a decline in value of the intangible fixed assets since there was a
possibility for the non-competition provision. The carrying amount of
the relevant intangible assets were written down to the recoverable
amount, which was measured at its value in use. The discount rate used
for computation of the present value of future cash flows was 5%.
The Group reviewed its long-lived assets for impairment for the
years ended March 31, 2008. As a result, the Group recognized
impairment losses of ¥149 million ($1,487 thousand), as other expense
for a decline in value, mainly from buildings and structures due to a
continuous operating loss of that unit. The carrying amount of relevant
buildings and structures was written down to the recoverable amount,
which was measured at its value in use. The discount rate used for
computation of the present value of future cash flows was 5%.
The Group reviewed its long-lived assets for impairment for the
years ended March 31, 2008. As a result, the Group recognized
impairment losses of ¥91 million ($908 thousand), as other expense,
mainly from buildings and structures in Mulleheimm, Germany, and
machineries in Itabashi-ku, Tokyo, since these were currently idle. The
book value of idle assets was reduced to their recoverable amount,
which was measured on the basis of their net sale price.
The Group reviewed its long-lived assets for impairment for the
year ended March 31, 2006, and as a result recognized an impairment
loss of ¥369 million as other expense for a decline in value of the leased
land in Machida-City, due to a fall of market land prices. The carrying
amount of the relevant land was written down to the recoverable
amount, which was measured at its declared value.
HOYA ANNUAL REPORT 2008 63