Casio 2014 Annual Report Download - page 35

5) Retirement benefit expenses
Millions of Yen
Thousands of
U.S. Dollars
2014 2014
Service cost ¥ 1,640 $ 15,922
Interest cost 938 9,107
Expected return on pension plan assets (1,711) (16,612)
Amortization of actuarial differences 1,915 18,592
Amortization of prior service costs (1,884) (18,291)
Retirement benefit expenses based on the simplified method 231 2,243
Retirement benefit expenses ¥ 1,129 $ 10,961
6) Accumulated adjustments for retirement benefit
Millions of Yen
Thousands of
U.S. Dollars
2014 2014
Unrecognized actuarial differences ¥ 7,105 $ 68,980
Unrecognized prior service costs (15,312) (148,660)
Total ¥ (8,207) $ (79,680)
7) Pension plan assets
(i) Pension plan assets comprise:
2014
Equity securities 55%
Debt securities 13%
General account 22%
Others 10%
Total 100%
(Note): The total pension plan assets include 15% of the employee retirement benefit trust set up for corporate pension plans.
(ii) Long-term expected rate of return
Current and target asset allocations, historical and expected returns on various categories of pension plan
assets have been considered in determining the long-term expected rate of return.
8) Actuarial assumptions
The principal actuarial assumptions at the end of the period follow:
2014
Discount rate mainly 1.7%
Long-term expected rate of return mainly 3.0%
(2) Defined Contribution Plan
The required contributions to the defined contribution plans of the Company and its consolidated subsidiaries
were ¥1,004 million ($9,748 thousand).
For 2013
(1) Projected benefit obligation
Millions of Yen
2013
Projected benefit obligation ¥ 52,607
Less fair value of pension plan assets* (56,095)
Unrecognized actuarial differences (13,580)
Unrecognized prior service costs 17,196
Prepaid pension cost 2,572
Provision for retirement benefits ¥ 2,700
* Including the employee retirement benefit trust
(Notes): 1. The Company and some of its consolidated subsidiaries in Japan transferred part of the defined benefit plan to a defined contribu-
tion plan. The effect of this transfer was as follows:
Decrease in projected benefit obligation ¥14,834 million
Unrecognized actuarial differences (4,578)
Unrecognized prior service costs 985
Increase in prepaid pension cost ¥ 2,495 million
Decrease in provision for retirement benefits 8,746
Furthermore, the Company and some of its consolidated subsidiaries in Japan plan to transfer ¥10,856 million in assets to the
defined contribution plan over a period of 8 years from the fiscal year ended March 31, 2013. Untransferred assets of ¥8,836 million
as of March 31, 2013 were recorded as accounts payable—other under current liabilities and other under non-current liabilities.
2. Certain subsidiaries have adopted the simplified method to calculate projected benefit obligation.
(2) Retirement benefit expenses
Millions of Yen
2013
Service cost ¥ 2,111
Interest cost 896
Expected return on pension plan assets (1,486)
Amortization of actuarial differences 2,279
Amortization of prior service costs (1,894)
Other 1,000
Retirement benefit expenses ¥ 2,906
(3) The discount rate and the rate of expected return on pension plan assets used by the Group are 1.7%
and 3.0%, respectively.
Profile / Contents CASIO’s StrengthHistory To Our Stakeholders At a Glance Special Feature CSRCorporate Governance
PAGE 34
Move back to
previous page
Move forward to
next page
Search
Print
Corporate DataFinancial Section