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68 HOYA Annual Report 2009
No. 6
EMPLOYEES’ SEVERANCE AND RETIREMENT BENEFITS
The Company and certain consolidated domestic subsidiaries have defined contribution benefit plan. Regarding the PENTAX divi-
sion, which merged in 2008, it operated a fund-type corporate pension plan, an agreement type corporate pension plan and a ter-
mination allowance plan as defined-benefit pension plan.
Certain overseas subsidiaries operate defined-benefit pension plan or defined contribution benefit plan.
Employees’ severance and retirement benefits included in the liability section of the consolidated balance sheets as of March
31, 2009 and 2008.
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Projected benefit obligation ¥19,687 ¥20,899 $200,414
Less fair value of plan assets (6,741) (8,848) (68,622)
Unrecognized actuarial differences (4,478) (1,865) (45,589)
Prepaid pension cost 21 24 214
Employees’ severance and retirement benefits ¥ 8,489 ¥10,210 $ 86,417
Included in the consolidated statements of income for the years ended March 31, 2009, 2008 and 2007 are severance and retire-
ment benefit expenses comprised of the following:
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2007 2009
Service costs-benefits earned during the year ¥ 975 ¥1,007 — $ 9,922
Interest cost on projected benefit obligation 367 192 — 3,739
Expected return on plan assets (171) (182) — (1,745)
Recognized actuarial loss 158 — — 1,611
Additional retirement benefits 6,743 1,921 1,055 68,645
Others 1,581 1,805 — 16,097
Severance and retirement benefit expenses ¥9,653 ¥4,743 1,055 $98,269
Assumptions used for the years ended March 31, 2009 and 2008 are set forth as follows:
2009 2008
Discount rate Mainly 1.3% Mainly 2.0%
Expected rate of return on plan assets Mainly 2.0% Mainly 3.5%
Amortization period of prior service cost
(Straight-line method) Mainly 10 years Mainly 10 years
Recognition period of actuarial gain (loss)
(Straight-line method from the year ended March 31, 2009) Mainly 10 years Mainly 10 years
The estimated amount of all retirement benefits to be paid at the future retirement date is allocated equally to each service year
using the estimated number of total remaining service years.