Fujitsu 2011 Annual Report Download - page 115

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The aggregate annual maturities of long-term debt subsequent to March 31, 2011 are summarized as follows:
Years ending March 31
Yen
(millions)
U.S. Dollars
(thousands)
2012 ¥171,406 $2,065,132
2013 77,321 931,578
2014 54,126 652,121
2015 43,682 526,289
2016 and thereafter 70,140 845,060
Total ¥416,675 $5,020,180
At March 31, 2011, the Group had committed facility contracts with banks aggregating ¥202,748 million ($2,442,747 thousand)
and all of it was unused.
Assets pledged as collateral for short-term borrowings and long-term debt at March 31, 2010 and 2011 are principally presented below:
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2010 2011 2011
Property, plant and equipment, net ¥3,403 ¥2,563 $30,880
As is customary in Japan, substantially all loans from banks (including short-term loans) are made under bank transaction agree-
ments which stipulate that, at the request of the banks, the borrower is required to provide collateral or guarantors (or additional col-
lateral or guarantors, as appropriate) with respect to such loans, and that all assets pledged as collateral under such agreements will be
applicable to all present and future indebtedness to the banks concerned. These bank transaction agreements further stipulate that the
banks have the right to offset deposits at the banks against indebtedness which matures or becomes due prematurely by default owed
to the banks.
8. Retirement Benefits
The Company and the majority of the consolidated subsidiaries in Japan have unfunded lump-sum retirement plans which, in general,
cover all employees who retire before a retirement age prescribed in their internal labor codes. The employees are entitled to the ben-
efits primarily based on their length of service and base salary as of the retirement date.
In addition, the Company and the majority of the consolidated subsidiaries in Japan participate in contributory defined benefit plans
which cover substantially all employees. The major contributory defined benefit plan (the “Plan”), which is referred to as the Fujitsu
Corporate Pension Fund, entitles employees upon retirement at the normal retirement age to either a lump-sum payment or pension annu-
ity payments for life commencing at age 60, or a combination of both based on their length of service, base salary and the number of years
of participation in the Plan. The contributions of the Company and the subsidiaries covered by the Plan and their employees are made to
the Fujitsu Corporate Pension Fund which is an external organization.
The Fujitsu Welfare Pension Fund, in which the Company and certain consolidated subsidiaries in Japan participated, received
approval of an elimination of the future benefit obligations of the substitutional portion on March 23, 2004, and then received approval
of transfer of past benefit obligation of the substitutional portion on September 1, 2005, from the Minister of Health, Labour and Wel-
fare. Accordingly, Fujitsu Welfare Pension Fund changed to the Defined Benefit Corporate Plan based on the Japanese Defined Benefit
Corporate Pension Law from the Japanese Welfare Pension Plan based on the Japanese Welfare Pension Insurance Law, and concurrently
a part of the pension system was revised.
The majority of the consolidated subsidiaries outside Japan have defined benefit plans and/or defined contribution plans covering
substantially all their employees. The major defined benefit pension plans provided outside Japan are the plans that Fujitsu Services
Holdings PLC (including its consolidated subsidiaries, “FS”) and Fujitsu Technology Solutions B.V. (including its consolidated subsidiaries)
provide. The plan provided by FS entitles employees payments based on their length of service and salary. The defined benefit section of
the plan was closed to new entrants for the year ended March 31, 2001. New employees are, however, eligible for membership of the
defined contribution section of the plan. From the year ended March 31, 2011, FS started to switch future accrual of benefits relevant to
the employees participating in the defined benefit section of the plan to the defined contribution section of the plan, and will complete
in the year ending March 31, 2012.
113FUJITSU LIMITED ANNUAL REPORT 2011
FACTS & FIGURES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS