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41
Annual Report 2014
The following is a summary of the plans at March 31, 2013:
(1) Certain domestic consolidated subsidiaries have applied a simplifi ed method, as permitted, to calculate their projected benefi t obligation.
(2) The above “Allowance for retirement benefi ts” does not include the “allowance for retirement benefi ts to directors and statutory audi-
tors.” Therefore, it differs from the retirement benefi ts reported in the accompanying consolidated balance sheets.
Components of net periodic pension cost for the years ended March 31, 2013 were as follows:
(1) The allowance for retirement benefi ts was determined by the simplifi ed method by certain consolidated subsidiaries and their net periodic
pension cost has been included in service cost of benefi ts earned during the year.
(2) Other cost is the contributions paid for defi ned contribution pension plans.
Assumptions used in the actuarial calculation:
Millions of yen
2013
Projected benefi t obligation ¥ (111,578)
Fair value of plan assets 95,331
Funded status (16,247)
Transition differences arising from initial adoption of new accounting
standard for retirement benefi ts 4,242
Unrecognized actuarial gain or loss 1,732
Unrecognized prior service cost (9,550)
Obligation recognized in the consolidated balance sheets (19,823)
Prepaid pension cost —
Allowance for retirement benefi ts ¥ (19,823)
Millions of yen
2013
Service cost during the year ¥ 3,311
Interest cost on projected benefi t obligation 2,279
Expected return on plan assets (1,965)
Amortization of obligation at transition 2,121
Amortization of actuarial difference 3,263
Amortization of prior service cost (1,604)
Other cost 2,064
Net periodic pension cost ¥ 9,469
Year ended March 31, 2013
Discount rate: 1.40%
Expected rates of return: 2.50%
Amortization period for prior service cost:
11-13 years (amortized by the straight-line method
over a period which falls within the average remaining
years of service of the participants in the plans, com-
mencing the year subsequent to the year in which the
cost was incurred).
Amortization period for actuarial difference:
11-13 years (amortized by the straight-line method
over a period which falls within the average remaining
years of service of the participants in the plans, in the
year subsequent to the year in which such difference
was incurred).
Amortization period for transition obligation arising from the
initial adoption of a new method of accounting:
15 years, except for certain consolidated subsidiaries
which charged or credited it to income when incurred,
and certain overseas subsidiaries which charge it di-
rectly to retained earnings.