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87
Financial Section (U.S. GAAP)
The Company and its domestic subsidiaries sponsor ter-
mination and retirement benefit plans which cover
substantially all domestic employees (hereinafter, “the
funded contributory termination and retirement plan in
Japan”). Benefits were based on the employee’s years of
service, with some plans considering compensation and
certain other factors. The Company, effective from April
2004, and its domestic subsidiaries, effective from April
2005, introduced an amended plan to establish a new for-
mula for determining pension benefits including a
“point-based benefits system,” under which benefits are
calculated based on accumulated points allocated to
employees each year according to their job classification
and performance. If the termination is involuntary, the
employee is usually entitled to greater payments than in
the case of voluntary termination.
The Company and its domestic subsidiaries fund a por-
tion of the obligations under these plans. The general
funding policy is to contribute amounts computed in accor-
dance with actuarial methods acceptable under Japanese
tax law.
Obligations and Funded Status
The following table is the reconciliation of beginning and ending balances of the benefit obligations and the fair value of the
plan assets at March 31:
10. Termination and Retirement Benefits
2009 20102010
Change in benefit obligation:
Benefit obligation at beginning of year
Service cost, less employees’ contributions
Interest cost
Actuarial loss (gain)
Benefits paid
Settlement paid
Benefit obligation at end of year
Change in plan assets:
Fair value of plan assets at beginning of year
Actual return on plan assets
Employers’ contributions
Benefits paid
Settlement paid
Fair value of plan assets at end of year
Fair value of assets in retirement benefit trust at beginning of year
Actual return on assets in retirement benefit trust
Fair value of assets in retirement benefit trust at end of year
Funded status at end of year
Millions of yen
Thousands of
U.S. dollars
¥ 162,952
3,978
3,259
1,267
(5,701)
(898)
¥ 164,857
¥ 80,245
10,533
8,616
(4,574)
(898)
¥ 93,922
7,040
316
¥ 7,356
¥ (63,579)
¥ 159,025
3,976
3,180
2,877
(5,064)
(1,042)
¥ 162,952
¥ 89,729
(9,723)
5,272
(3,991)
(1,042)
¥ 80,245
10,828
(3,788)
¥ 7,040
¥ (75,667)
$ 1,752,172
42,774
35,043
13,624
(61,301)
(9,656)
$ 1,772,656
$ 862,850
113,258
92,645
(49,183)
(9,656)
$ 1,009,914
75,699
3,398
$ 79,097
$ (683,645)
Other Current Liabilities
Amounts recognized in the consolidated balance sheet at March 31, consist of:
2009 20102010
Other current liability
Termination and retirement benefit
Total
Millions of yen
Thousands of
U.S. dollars
¥ (1,048)
(62,531)
¥ (63,579)
¥ (859)
(74,808)
¥ (75,667)
$ (11,269)
(672,376)
$ (683,645)