Fujitsu 2009 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2009 Fujitsu annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 134

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

Components of net periodic benefit cost
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2008 2009 2009
Service cost ¥ 12,425 ¥ 8,856 $ 90,367
Interest cost 36,240 32,305 329,643
Expected return on plan assets (38,533) (33,321) (340,010)
Amortization of the unrecognized obligation for retirement benefit:
Amortization of actuarial gain and loss 917 (304) (3,102)
Amortization of prior service cost (1,041) — —
Net periodic benefit cost 10,008 7,536 76,898
Gain on termination of retirement benefit plan (1,629) — —
Total ¥ 8,379 ¥ 7,536 $ 76,898
“Gain on termination of retirement benefit plan” was a termination gain resulting from a transfer of the retirement benefit plan provided by
certain consolidated subsidiaries outside Japan to third-party organizations.
The assumptions used in accounting for the plans
At March 31 2008 2009
Discount rate Mainly 6.9% Mainly 6.9%
Expected rate of return on plan assets Mainly 7.0% Mainly 8.0%
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
10. Income Taxes
The Group is subject to a number of different income taxes. The statutory tax rates in the aggregate in Japan were approximately 40.6% for the
years ended March 31, 2007, 2008 and 2009.
The components of income taxes are as follows:
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2007 2008 2009 2009
Current ¥44,104 ¥39,736 ¥ 25,022 $ 255,327
Deferred 52,139 7,534 (24,611) (251,133)
Income taxes ¥96,243 ¥47,270 ¥ 411 $ 4,194
The reconciliations between the statutory income tax rates and the effective income tax rates for the years ended March 31, 2007, 2008
and 2009 are as follows:
Years ended March 31 2007 2008 2009
Statutory income tax rates 40.6% 40.6% 40.6%
Increase (Decrease) in tax rates:
Tax effect on equity in earnings of affiliates, net (1.3%) (3.4%) (12.2%)
Dividends from consolidated subsidiaries and affiliates outside Japan 1.9% 5.8% (11.0%)
Valuation allowance for deferred tax assets 3.8% (9.4%) (8.5%)
Goodwill amortization 3.1% 8.2% (5.8%)
Non-deductible expenses for tax purposes 1.3% 4.4% (3.1%)
Non-taxable income (0.4%) (1.6%) 0.5%
Other (4.1%) (1.4%) (0.9%)
Effective income tax rates 44.9% 43.2% (0.4%)
102 ANNUAL REPORT 2009
FUJITSU LIMITED
Notes to Consolidated Financial Statements