Suzuki 2009 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2009 Suzuki 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 52

  • 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

SUZUKI MOTOR CORPORATION 39
(c) Items related to retirement benefit cost
Remarks:
The retirement benefit cost of subsidiaries where simplified methods are adopted is accounted for “a.
Service cost”.
Thousands of
U.S. dollars
Millions of
yen
2009 2008 2009
a. Service cost ¥6,164 ¥7,274 $62,753
b. Interest cost 1,613 1,491 16,427
c. Assumed return on investment (536) (443) (5,464)
d. Amortized amount of actuarial difference 973 908 9,915
e. Amortized amount of prior service cost (718) (718) (7,317)
f. Retirement benefit cost (a+b+c+d+e) ¥7,496 ¥8,511 $76,314
Consolidated Financial Statements of 2009
(d) Items related to the calculation standard for the retirement benefit obligation
a. Term allocation of the estimated
amount of retirement benefits : Period fixed amount basis
b. Discount rate : 2009 2.00%
2008 2.00%
c. Reassessment rate : 2009 1.50%
2008 1.50%
d. Assumed return of investment ratio : 2009 0.77% -1.90%
2008 0.85% -1.90%
e. Number of years for amortization : Mainly 15 years
of prior service cost To be amortized by straight line method with the employees’
average remaining service years at the time when the
difference was caused.
f. Number of years for amortization : Mainly 15 years
of the difference caused by To be amortized from the next fiscal year by straight line
an actuarial calculation method with the employees’ average remaining service years
at the time when the difference was caused.
NOTE 7: Accrued retirement and severance benefit
(a) Outline of an adopted retirement benefit system
In the case of the Company, cash balance corporate pension plan and termination allowance plan are
established. And in case of some consolidated subsidiaries, defined benefit corporate pension plan and
termination allowance plan are established.
(b) Items related to a retirement benefit obligation
Remarks: 1) The premium retirement allowance paid on a temporary basis is not included.
2)
Some of subsidiaries adopt simplified methods for the calculation of retirement benefits.
Millions of
yen
Thousands of
U.S. dollars
2009 2008 2009
a. Retirement benefit obligation ¥(104,885) ¥(109,000) $(1,067,754)
b. Pension assets 62,081 62,912 631,996
c.
Unrecognized retirement benefit obligation (a+b)
¥ (42,804) ¥ (46,087) $ (435,757)
d.
Unrecognized difference by an actuarial calculation
7,578 7,275 77,153
e.
Unrecognized prior service cost(decrease of liabilities)
(6,864) (7,583) (69,883)
f.
Accrued retirement and severance benefits (c+d+e)
¥ (42,090) ¥ (46,395) $ (428,488)