Fujitsu 2012 Annual Report Download - page 128

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(ii) Interest-related transactions
At March 31, 2012
Yen
(millions)
U.S. Dollars
(thousands)
Type of hedge
accounting Type of derivative transaction
Principal Item
Hedged
Contract
Amount
Contract
Amounts
Over 1 Year Fair Value
Contract
Amount
Contract
Amounts
Over 1 Year Fair Value
Deferral
hedge
Interest rate
swap transaction
Pay fixed/Receive variable Borrowings ¥1,923 ¥1,068 ¥(23) $23,451 $13,024 $(280)
At March 31, 2011
Yen
(millions)
Type of hedge
accounting Type of derivative transaction
Principal Item
Hedged
Contract
Amount
Contract
Amounts
Over 1 Year Fair Value
Deferral
hedge
Interest rate
swap transaction
Pay fixed/Receive variable Borrowings ¥2,798 ¥1,937 ¥9
The fair value is based on quotes obtained from the financial institutions.
(iii) Stock-related transactions
At March 31, 2012
Yen
(millions)
U.S. Dollars
(thousands)
Type of hedge
accounting Type of derivative transaction
Principal Item
Hedged
Contract
Amount
Contract
Amounts
Over 1 Year Fair Value
Contract
Amount
Contract
Amounts
Over 1 Year Fair Value
Deferral
hedge
Option transaction
to sell a stock
Investment
Securities ¥555 ¥555 ¥647 $6,768 $6,768 $7,890
The fair value is based on an option pricing model.
At March 31, 2011
Not applicable for the year.
14. 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
annuity 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.
126 FUJITSU LIMITED ANNUAL REPORT 2012