Mitsubishi 2014 Annual Report Download - page 57

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Interest rate swaps
(In millions of yen)
March 31, 2014
Hedged
item
Notional
amount
Due more
than 1 year
Fair value
Pay-fixed, receive-
floating (recorded
as fair value):
Debt
¥29,496 ¥29,496 ¥(18)
Pay-fixed, receive-
floating (special
hedge provisions):
Debt
7,615 275 (*)
Total ¥ — ¥ — ¥(18)
(In thousands of U.S. dollars)
March 31, 2014
Hedged
item
Notional
amount
Due more
than 1 year
Fair value
Pay-fixed, receive-
floating (recorded
as fair value):
Debt
$286,598 $286,598 $(183)
Pay-fixed, receive-
floating (special
hedge provisions):
Debt
73,989 2,671 (*)
Total $ — $ — $(183)
(*) As interest rate swaps under the special hedge provisions are accounted
together with the corresponding hedged item (debt), their fair values are
reflected in the fair value of long-term loans payable.
(In millions of yen)
March 31, 2013
Hedged
item
Notional
amount
Due more
than 1 year
Fair value
Pay-fixed, receive-
floating (recorded
as fair value):
Long-term
debt ¥28,100 ¥27,783 ¥(89)
Pay-fixed, receive-
floating (special
hedge provisions):
Long-term
debt 680 390 (*)
Total ¥ — ¥ — ¥(89)
(*) As interest rate swaps under the special hedge provisions are accounted
together with the corresponding hedged item (long-term debt), their fair
values are reflected in the fair value of long-term loans payable.
17. Retirement Benefits
For the fiscal year ended March 31, 2014:
MMC and its consolidated subsidiaries have defined benefit pension
plans including contributory plans in accordance with the Welfare
Pension Institute Law of Japan, defined benefit corporate pension
plans and lump-sum payment plans, and defined contribution pen-
sion plans. Additional retirement benefits are paid in certain cases
upon an employee’s retirement and similar. Some of the consoli-
dated subsidiaries adopt the simplified method for the calculation
of retirement benefits obligation.
Some of the consolidated subsidiaries have multi-employer
pension plans and since the portion of plan assets belonging to a
multi-employer pension plan could not be reasonably calculated,
the required contribution amount is accounted as a defined contri-
bution plan.
Defined benefit plan
The changes in the retirement benefit obligations during the year
ended March 31, 2014 is as follows:
(In millions of
yen)
(In thousands
of U.S. dollars)
For the years ended
March 31,
2014 2014
Retirement benefit obligation at
beginning of year ¥185,113 $1,798,612
Service costs 7,628 74,116
Interest costs 4,734 46,000
Actuarial losses 205 1,994
Retirement benefit paid (9,269) (90,066)
Exchange translation differences 4,124 40,075
Other (322) (3,133)
Retirement benefit obligation at end
of year ¥192,213 $1,867,599
MITSUBISHI MOTORS CORPORATION
Annual Report 2014 55