Casio 2016 Annual Report Download - page 37

Annual Report 2016 / 4636
CONTENTS
To Our Stakeholders Prole Special Features ESG Information Financial Section Corporate Data
(3) Adjustments of amount of deferred tax assets and liabilities due to change in the corporate tax rate
The “Act for Partial Revision of the Income Tax Act and Others” (Act No. 15 of 2016) and the “Act for Partial
Revision of the Local Tax Act and Others” (Act No. 13 of 2016) were enacted in the Diet on March 29, 2016.
Under these revised acts, the effective tax rate used for calculating deferred tax assets and deferred tax
liabilities has been reduced from 32.3% to 30.9% for the temporary differences expected to reverse from
April 1, 2016 to March 31, 2018, and to 30.6% for those expected to reverse from the fiscal year beginning
April 1, 2018
As a result, the amount of net deferred tax assets decreased by ¥460 million ($4,071 thousand) and
income taxes-deferred increased by ¥727 million ($6,434 thousand), valuation difference on available-for-sale
securities increased by ¥198 million ($1,752 thousand) and remeasurements of defined benefit plans
increased by ¥69 million ($611 thousand) as of and for the year ended March 31, 2016.
10. Retirement Benefits
(1) Defined benefit plan (Defined benefit plans, including multi-employer pension plans)
1) Movement in projected benefit obligation (except plans applied simplified method)
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 2015 2016
Projected benefit obligation at beginning of period ....................... ¥54,206 ¥48,825 $479,699
Service cost .......................................................................... 1,747 1,582 15,460
Interest cost .......................................................................... 588 949 5,204
Actuarial differences accrued ................................................. 45 4,305 398
Benefits paid ......................................................................... (2,320) (1,954) (20,531)
Others .................................................................................. (1,027) 499 (9,088)
Projected benefit obligation at end of period ................................ ¥53,239 ¥54,206 $471,142
2) Movement in pension plan assets (except plans applied simplified method)
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 2015 2016
Pension plan assets at beginning of period ...................................... ¥66,676 ¥57,728 $590,053
Expected return on pension plan assets ..................................... 2,193 1,896 19,407
Actuarial differences accrued ..................................................... (6,268) 7,099 (55,469)
Contributions paid by the employer ............................................ 1,215 1,449 10,752
Benefits paid ............................................................................. (2,162) (2,073) (19,132)
Others ...................................................................................... (811) 577 (7,177)
Pension plan assets at end of period ............................................... ¥60,843 ¥66,676 $538,434
3) Movement in net defined benefit liability for plans applied the simplified method
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 2015 2016
Net defined benefit liability at beginning of period ........................ ¥(449) ¥ 142 $(3,974)
Retirement benefit expenses .................................................. 483 (394) 4,274
Benefits paid ......................................................................... (44) (6) (389)
Contributions paid by the employer ........................................ (157) (181) (1,389)
Others .................................................................................. (4) (10) (35)
Net defined benefit liability at end of period ................................. ¥(171) ¥ (449) $(1,513)
4) Reconciliation from projected benefit obligation and pension plan assets to liability (asset) for retirement
benefits
Millions of Yen
Thousands of
U.S. Dollars
(Note 1)
2016 2015 2016
Funded projected benefit obligation............................................. ¥ 57,383 ¥ 58,321 $ 507,814
Pension plan assets .................................................................... (65,337) (71,429) (578,203)
(7,954) (13,108) (70,389)
Unfunded projected benefit obligation ......................................... 179 189 1,584
Total net liability (asset) for retirement benefits recorded on
the consolidated balance sheets .............................................. (7,775) (12,919) (68,805)
Net defined benefit liability .......................................................... 1,338 1,219 11,841
Net defined benefit asset ............................................................ (9,113) (14,138) (80,646)
Total net liability (asset) for retirement benefits recorded on
the consolidated balance sheets .............................................. ¥ (7,775) ¥(12,919) $ (68,805)
(Note): Including plans applied the simplified method.
Notes to Consolidated Financial Statements