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34
Isuzu Motors Limited Annual Report 2007
Financial Section
5. Retirement Benefit Obligation and Pension Plan
The Company has defined benefit plans, i.e., corporate pension fund
and lump-sum payment plans. The consolidated subsidiaries have
defined benefit plans, i.e., corporate pension fund, welfare pension
fund plans, tax-qualified pension funds and lump-sum payment plans.
Several of the domestic consolidated subsidiaries have defined con-
tribution pension plans for parts of the unfunded lump-sum benefit
plans.
(1) Retirement benefit obligation as of March 31, 2007 and 2006 is as follows:
¥ (117,305)
32,624
62,257
(26)
¥ (22,450)
¥ (22,309)
¥ (140)
¥ (22,450)
¥ (118,660)
39,416
57,320
(1,013)
¥ (22,935)
¥ (23,983)
¥ 1,047
¥ (22,935)
$ (1,005,168)
333,898
485,562
(8,582)
$ (194,289)
$ (203,165)
$ 8,876
$ (194,289)
(2) Retirement benefit cost for the year ended March 31, 2007 and 2006 is as follows:
¥ 3,975
2,041
(383)
3,578
1,279
¥ 10,491
—
—
—
—
¥ 4,122
2,562
(1,088)
3,732
236
¥ 9,564
¥ (2,531)
35
73
¥ 7,141
$ 34,920
21,710
(9,222)
31,615
2,000
$ 81,024
$ (21,448)
299
624
$ 60,499
Thousands of
Millions of yen
U.S. dollars
2007 2006 2007
Retirement benefit obligation at end of the year
Fair value of plan assets
Accrued retirement benefits obligation on balance sheets
Prepaid pension cost
Net
(Details on net amount)
Unrecognized actuarial net loss
Unrecognized prior service cost
Net
The substitutional portion of the benefits under the welfare pension fund plans has been included in the amounts shown in the above table.
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Service cost
Interest cost on projected benefit obligation
Expected return on plan assets
Amortization of actuarial net loss (gain)
Amortization of prior service cost
Net retirement benefit cost
Gains on return of benefits related to past employee service
under the substitutional portion
Gain and loss on adoption of defined contribution pension plan, net
Other
Total
Thousands of
Planned maturity date
Millions of yen
U.S. dollars
Over 1 year within 2 years
Over 2 years within 3 years
Over 3 years within 4 years
Thereafter
Total
$
415,323
496,462
479,420
461,087
$ 1,852,294
¥ 49,028
58,607
56,595
54,433
¥ 218,663
$ 2,374
3,183
438,197
482,131
1,561,296
—
285
The annual maturities of long-term debt at March 31, 2007
are summarized as follows:
¥ 280
375
51,729
56,915
184,311
—
33
¥ 111
2,471
51,309
44,581
181,218
3,137
37
The assets pledged as collateral for certain loans and other liabilities
at March 31, 2007 and 2006 are as follows:
Thousands of
Millions of yen U.S. dollars
2007 2006 2007
Cash and time deposits
Notes and accounts receivable
Building and structures
Machinery and equipment
Land
Securities
Others
(3) Actuarial assumptions used to determine costs and obligations for retirement.
2007 2006
Discount rate 2.3% 2.3%
Expected rate of return on plan assets 1.5–2.5% 1.5–2.5%
Recognition period of prior service cost 1–10 years 1 year
Amortization period of actuarial net loss (gain) 10–19 years 10 years
Amortization period of net obligation
arising from accounting changes 1 year 1 year