Suzuki 2015 Annual Report Download - page 57
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Please find page 57 of the 2015 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.Consolidated Financial Statements
SUZUKI MOTOR CORPORATION 55
(Year ended 31 March 2015)
1.Outlineofadoptedretirementbenetsystems
As for The Company, cash balance corporate pension plan and lump-sum retirement benet plan are established. And as for
some of consolidated subsidiaries, dened benet corporate pension plan and lump-sum retirement benet plan are estab-
lished. As for some foreign consolidated subsidiaries, dened contribution plan are established.
Some consolidated subsidiaries adopt simplied methods for the calculation of retirement benets.
2.Denedbenetplan
(a)Reconciliationofretirementbenetobligationfromtheopeningbalancetotheclosingbalance
Millions of yen
Thousands of
US dollars
Opening balance of retirement benet obligation ¥111,096 $ 924,494
Cumulative effects of changes in accounting 12,243 101,882
Opening balance reected changes in accounting ¥123,339 $1,026,377
Service cost 6,638 55,245
Interest cost 1,681 13,994
Actuarial differences arised in current scal year 886 7,378
Retirement allowance paid (4,751)(39,542)
Past service cost arised in current scal year 5,322 44,294
Others 301 2,505
Closing balance of retirement benet obligation ¥133,418 $1,110,251
(e) Accumulatedadjustmentforretirementbenet
Breakdown of accumulated adjustment for retirement benet recognized were as follows:
Millions of yen
Unrecognized past service cost ¥3,276
Unrecognized actuarial gains and losses 2,742
Total ¥6,018
(f) Plan assets
a. Major breakdown of pension assets
Portion of major components to total pension assets were as follows:
Debt securities 51.1%
General account of life insurance companies 38.0%
Others 10.9%
Total 100.0%
b. Method to determine long-term expected return on plan assets
Expected return on pension assets were determined by considering the current and anticipated future portfolio of pension
assets and current and anticipated future long-term performance of various asset classes that comprise pension assets.
(g) Actuarial assumptions
Discount rate 2.00%
Expected long-term return on pension assets 0.82%
3 Denedcontributionplan
Contribution to dened contribution plan by The Company and consolidated subsidiaries was 216 million yen.