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Assumptions used in accounting for the plans
At March 31 2011 2012
Discount rate 2.5% 2.5%
Expected rate of return on plan assets 2.9% 2.9%
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
<Outside Japan>
FS adopted International Financial Reporting Standards (“IFRS”) for the year ended March 31, 2006, and accounts for retirement benefits
in accordance with IAS 19 “Employee Benefits” issued on February, 1998. For this change in accounting principles and practices, FS
adopted IFRS 1 “First-time Adoption of International Financial Reporting Standards,” and recognized the projected benefit obligation in
excess of plan assets as of the beginning of the year ended March 31, 2005. 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.
The amended IAS 19, issued on June 16, 2011, is not yet effective and has not yet been adopted by the consolidated subsidiaries
outside Japan.
Projected benefit obligation and plan assets
Yen
(millions)
U.S. Dollars
(thousands)
At March 31 2011 2012 2012
Projected benefit obligation ¥(534,999) ¥(571,823) $(6,973,451)
Plan assets 395,927 408,126 4,977,146
Projected benefit obligation in excess of plan assets (139,072) (163,697) (1,996,305)
Unrecognized actuarial loss 74,321 108,912 1,328,195
Prepaid pension cost (2,342) (9,830) (119,878)
Accrued retirement benefits ¥ (67,093) ¥ (64,615) $ (787,988)
Components of net periodic benefit cost
Yen
(millions)
U.S. Dollars
(thousands)
Years ended March 31 2011 2012 2012
Service cost ¥ 8,044 ¥ 3,707 $ 45,207
Interest cost 29,781 27,154 331,146
Expected return on plan assets (26,003) (24,145) (294,451)
Amortization of the unrecognized obligation for retirement benefit:
Amortization of actuarial gain and loss 5,838 3,498 42,659
Amortization of prior service cost*1(13,322) (118) (1,439)
Others*29,774 13,488 164,488
Net periodic benefit cost 14,112 23,584 287,610
Loss (gain) on termination of retirement benefit plan 112 114 1,390
Total ¥ 14,224 ¥ 23,698 $ 289,000
*1 For the year ended March 31, 2011, the negative prior service cost was immediately recognized as a result of pension revisions mainly in FS. The majority of this
credit arose from offering an option whereby future variable increases in line with the fluctuation in prices may be exchanged for a one-off uplift in payments.
*2 Contribution for defined contribution plans.
128 FUJITSU LIMITED ANNUAL REPORT 2012