Wacom 2009 Annual Report Download - page 32

The components of the net periodic pension expense for
the years ended March 31, 2008 and 2009 are as follows:
Note: The net periodic pension expense of ¥81,175 thousand ($826
thousand) for the year ended March 31, 2008 excluded the contribution
expense to the Saitama prefectural industrial park multi-employer pension
plan.
The assumptions used as of March 31, 2008 and 2009
are as follows:
Some of consolidated subsidiaries overseas have defined
contribution pension plans.
31
Advertising expenses
Provision for allowance for
doubtful accounts
Salaries
Pension expenses
Provisions for retirement benefits of directors
and statutory corporate auditors
Provisions for bonuses to employees
Research and development expenses
Provisions for bonuses to directors and
statutory corporate auditors
Commission paid
Thousands of
U.S. dollars
Thousands of
yen
Year ended
March 31
20092008 2009
$14,032
841
29,262
1,539
584
2,746
14,679
–
–
¥1,378,351
82,626
2,874,375
151,176
57,382
269,786
1,441,953
–
–
¥1,617,543
9,349
2,651,928
86,812
47,835
602,186
–
23,695
1,433,588
2009
(1) Discount rate
(2) Method of attributing the projected
benefits to periods of service
(3) Amortization of unrecognized actuarial
differences
2008
2.0%
Straight-line
basis
Straight-line
over 5 years
2.0%
Straight-line
basis
Straight-line
over 5 years
(1) Projected benefit obligation
(2) Unrecognized actuarial loss
(3) Provision for retirement benefits
for employees (1)+(2)
Thousands of
U.S. dollars
Thousands of yen
20092008 2009
($4,333)
56
($4,277)
(¥425,615)
5,464
(¥420,151)
(¥383,101)
12,496
(¥370,605)
(1) Service cost
(2) Interest cost
(3) Recognized actuarial loss
(4) Contribution
(5) Net periodic pension expense
Thousands of
U.S. dollars
Thousands of yen
2009
2008 2009
$460
74
63
896
$1,493
¥45,161
7,282
6,186
88,076
¥146,705
¥42,623
6,584
5,298
–
¥54,505
The amount of pension assets
The amount of benefit obligations
under pension funding programs
Net
Thousands of
U.S. dollars
Thousands of
yen
March 31
2009
March 31
2008 2009
$71,245
(75,929)
($4,684)
¥6,998,395
(7,458,524)
(¥460,129)
¥7,615,148
(6,931,374)
¥683,774
Average
interest
rate (%)
Due date
of
payment
March 31 March 31
Thousands of
U.S. dollars
Thousands of
yen
Short-term debt
Long-term debt
due within one year
Lease obligation
due within one year
Long-term debt
Lease obligation-
Other interest
bearing liabilities:
Accounts payable
Long-term
accounts payable
Total
2008 2009 2009
¥600,000
–
–
–
–
2,855
2,448
¥605,333
$6,108
–
–
–
–
29
25
$6,162
–
–
–
–
–
–
Due 2010
~ 2011
1.277
–
–
–
–
9.040
9.040
¥600,000
–
–
–
–
4,914
7,301
¥612,215
7. Short-term and long-term debt:
Notes: a) Average interest rate is a weighted average interest rate to
the ending balance of debts.
b) Five-year schedule of other interest bearing liabilities
excluding the amount due within one year is as follows:
8.Provision for retirement benefits:
The Company has an unfunded retirement allowance plan
(the “Plan”) covering substantially all of its employees who
meet eligibility requirements under the Plan. In addition, the
Company is a member of the Saitama prefectural industrial
park multi-employer pension plan, which covers substan-
tially all of its employees and provides for benefits under the
governmental welfare pension benefit plan, which would
otherwise be provided by the Japanese government.
This multi-employer pension plan does not permit us to
reasonably calculate the value of the pension plan assets
based on our contributions. As a result, this multi-employer
pension plan is excluded from the calculation of projected
benefit obligation.
Overview of the multi-employer pension plan is as follow,
under which the required contributions to the plan are
charged to income.
(1)The funded status of the pension plan as of March 31,
2008 and 2009
(2) The ratio of the number of company’s employees to total
employees in the multi-employer pension plan as of March
31, 2008 is 15.2% and 2009 is 16.2% , respectively.
The provision for retirement benefits for employees as of
March 31, 2008 and 2009 can be analyzed as follows:
9. Cost of sales:
Devaluation amount due to decrease of net realizable value
is reflected in inventory amount for the end of fiscal year
March 31, 2009. As a result, cost of sales includes loss on
inventory devaluation of ¥40,330 thousand ($411 thousand).
10. Selling, general and administrative expenses:
The major components of “Selling, general and administra-
tive expenses” are as follows:
11. Research and development expenditures:
Research and development expenditures are included in
selling, general and administrative expenses. Such
expenses amounted to ¥1,111,911 thousand and
¥1,441,953 thousand ($14,679 thousand) for the years
ended March 31, 2008 and 2009, respectively.
Due after
1 year to 2 year
¥892
Due after
2 year to 3 year
¥1,556
Due after
3 year to 4 year
¥–
Due after
4 year to 5 year
¥–
Thousands of yen
Long-term accounts payable
Due after
1 year to 2 year
$9
Due after
2 year to 3 year
$16
Due after
3 year to 4 year
$–
Due after
4 year to 5 year
$–
Thousands of U.S. dollars
Long-term accounts payable
Year ended March 31