Pioneer 2009 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2009 Pioneer annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 54

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54

PIONEER CORPORATION38
Overseas
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Projected benefit obligation ¥(13,728) ¥(15,410) $(140,082)
Fair value of plan assets 7,786 12,786 79,449
Unfunded retirement obligation (5,942) (2,624) (60,633)
Unrecognized prior service gain (Note) –––
Unrecognized actuarial loss (Note) –––
Unrecognized transition obligation (Note) –––
Net retirement obligations (5,942) (2,624) (60,633)
Prepaid pension cost –7 –
Accrued pension and severance costs ¥ (5,942) ¥ (2,631) $ (60,633)
Note: In accordance with Financial Accounting Standards Board Statement of Financial Accounting Standards No. 158 “Employer’s Accounting for Defined Benefit Pension
and Other Postretirement Plans,” applicable amounts, net of tax basis, are presented as “Pension adjustments recognized by foreign consolidated subsidiaries,” in the
Equity section of the accompanying consolidated balance sheets.
Net periodic pension costs related to the retirement benefits for the years ended March 31, 2009 and 2008 were as follows:
Millions of Yen
Thousands of
U.S. Dollars
2009 2008 2009
Service cost ¥ 310 ¥ 388 $ 3,163
Interest cost 792 922 8,082
Expected return on plan assets (803) (940) (8,194)
Amortization of prior service gain (4) (5) (41)
Recognized actuarial (gain) loss (12) 18 (122)
Amortization of transition obligation –1–
Curtailment gain (228) –(2,327)
Net periodic pension costs ¥ 55 ¥ 384 $ 561
2009 2008
Discount rate 5.8%–7.4% 4.3%–6.8%
Expected rate of return on plan assets 2.0%–7.5% 3.8%–7.5%
Method of attributing the projected benefits to periods of service Projected unit credit method Projected unit credit method
Amortization period of prior service gain or cost Average remaining service
period of employees
Average remaining service
period of employees
Recognition period of actuarial gain or loss Average remaining service
period of employees
Average remaining service
period of employees