Mitsubishi 2001 Annual Report Download - page 65

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MITSUBISHI MOTORS CORPORATION Annual Report 2001 [63]
Operating lease transactions entered into as lessee by MMC and its consolidated subsidiaries at March 31, 2001
and 2000 were as follows:
In thousands of
In millions of yen U.S. dollars
2001 2000 2001
Future minimum lease payments on operating leases:
Due within 1 year ¥16,227 ¥17,859 $130,969
Due after 1 year 70,638 72,208 570,121
Total ¥86,866 ¥90,067 $701,098
As lessor
Operating lease transactions entered into as lessor by MMC and its consolidated subsidiaries at March 31, 2001 and
2000 were as follows:
In thousands of
In millions of yen U.S. dollars
2001 2000 2001
Future minimum lease revenues from operating leases:
Due within 1 year ¥ 52,904 ¥47,974 $426,990
Due after 1 year 67,011 61,178 540,847
Total ¥119,916 ¥109,152 $967,845
[16. Retirement Benefits]
(a) MMC and its consolidated subsidiaries have several pension plans covering substantially all their employees in
Japan. The contributory plan includes a portion of the government-sponsored welfare pension benefits which
would otherwise be provided by the Japanese government in accordance with the Welfare Pension Insurance Law
of Japan. These contributory and noncontributory plans are funded in accordance with the funding requirements
set forth in the applicable government regulations.
(b) Fundamental assumptions
The retirement benefit obligation has been allocated by the definite amount rule. The discount rate and the rate
of return on plan assets assumed were 3.0% and 4.0%, respectively.
(c) Retirement benefit obligation
The retirement benefit obligation for MMC’s and its consolidated subsidiaries’ employees’ defined benefit plans for
the year ended March 31, 2001 is summarized as follows:
In thousands
In millions of yen of U.S. dollars
Retirement benefit obligations ¥(258,825) $(2,088,983)
Pension plan assets at fair value 53,585 432,486
Accrued pension liabilities (205,239) (1,656,489)
Unrecognized actuarial gain 6,038 48,733
Unrecognized prior service cost 6 48
Net recognized retirement benefit obligation (199,195) (1,607,708)
Allowance for retirement benefits ¥(199,195) $(1,607,708)