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Components of net periodic benefit cost
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2007 2008 2009 2009
Service cost ¥ 36,424 ¥ 36,646 ¥ 38,207 $ 389,867
Interest cost 26,205 27,535 28,976 295,673
Expected return on plan assets (30,724) (30,929) (27,286) (278,428)
Amortization of unrecognized obligation for retirement benefits:
Amortization of net obligation at transition 16,230 16,217 16,709 170,500
Amortization of actuarial loss 5,569 9,863 26,463 270,031
Amortization of prior service cost (18,653) (18,613) (19,099) (194,888)
Net periodic benefit cost ¥ 35,051 ¥ 40,719 ¥ 63,970 $ 652,755
In addition to net periodic benefit cost stated above, extra retirement benefits of ¥3,874 million, ¥3,798 million and ¥8,029 million ($81,929
thousand) were paid for the years ended March 31, 2007, 2008 and 2009, respectively.
The assumptions used in accounting for the plans
At March 31 2008 2009
Discount rate 2.5% 2.5%
Expected rate of return on plan assets 2.7% 2.8%
Method of allocating actuarial loss Straight-line method over the employees’
average remaining service period
Straight-line method over the employees’
average remaining service period
Method of allocating prior service cost Straight-line method over 10 years Straight-line method over 10 years
Method of allocating net obligation at transition Straight-line method over 10 years Straight-line method over 10 years
For the year ended March 31, 2001, the Company fully recognized as income its portion of the unrecognized net obligation at transition.
For additional plan assets to cover the unrecognized net obligation at transition, the Company placed its holding of marketable securities in a
trust which was solely established for the retirement benefit plan.
<Outside Japan>
FS adopted International Financial Reporting Standards (“IFRS”) for the year ended March 31, 2006, and accounts for retirement benefits in accor-
dance with IAS 19 “Employee Benefits.” For this change in accounting principles and practices, FS adopted IFRS 1 “First-time Adoption of Interna-
tional Financial Reporting Standards,” and recognized the projected benefit obligation in excess of plan assets as of April 1, 2004. For the year ended
March 31, 2009, other subsidiaries outside Japan applied IAS 19 in accordance with adoption of IFRS. They recognized actuarial gain or loss over
future periods after the adoption of IFRS 1 and applied the “corridor approach” to amortization of actuarial gain and loss.
Projected benefit obligation and plan assets
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2008 2009 2009
Projected benefit obligation ¥(541,905) ¥(354,064) $(3,612,898)
Plan assets 470,577 296,413 3,024,622
Projected benefit obligation in excess of plan assets (71,328) (57,651) (588,276)
Unrecognized actuarial gain (loss) (9,561) 11,547 117,827
Prepaid pension cost — (67) (683)
Accrued retirement benefits ¥ (80,889) ¥ (46,171) $ (471,132)
FACTS & FIGURES Notes to Consolidated Financial Statements
101
ANNUAL REPORT 2009
FUJITSU LIMITED