Suzuki 2015 Annual Report Download - page 57

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Consolidated Financial Statements
SUZUKI MOTOR CORPORATION 55
(Year ended 31 March 2015)
1.Outlineofadoptedretirementbenetsystems
As for The Company, cash balance corporate pension plan and lump-sum retirement benet plan are established. And as for
some of consolidated subsidiaries, dened benet corporate pension plan and lump-sum retirement benet plan are estab-
lished. As for some foreign consolidated subsidiaries, dened contribution plan are established.
Some consolidated subsidiaries adopt simplied methods for the calculation of retirement benets.
2.Denedbenetplan
(a)Reconciliationofretirementbenetobligationfromtheopeningbalancetotheclosingbalance
Millions of yen
Thousands of
US dollars
Opening balance of retirement benet obligation ¥111,096 $ 924,494
Cumulative effects of changes in accounting 12,243 101,882
Opening balance reected 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 benet obligation ¥133,418 $1,110,251
(e) Accumulatedadjustmentforretirementbenet
Breakdown of accumulated adjustment for retirement benet 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 Denedcontributionplan
Contribution to dened contribution plan by The Company and consolidated subsidiaries was 216 million yen.