Ricoh 2003 Annual Report Download - page 45

43
The Com pany and certain of its subsidiaries have various trusted contributory
and noncontributory em ployees pension fund plans covering substantially all of
their employees. Under the plans, em ployees are entitled to lum p-sum paym ents
at the tim e of term ination or retirem ent, or to pension payments. Under the
terms of the dom estic employer pension fund ( “EPF”) plan, the governm ent
mandated welfare pension insurance benefit is included and com mingled with
the primary corporate benefit provided by Ricoh. The am ounts of lump-sum or
pension payments under the plans are generally determined on the basis of
length of service and rem uneration at the tim e of term ination. These contribu-
tory and non contributory plans are funded in conform ity with governm ental
regulations. The plan assets consist principally of interest-bearing bonds and
listed equity securities.
The changes in the benefit obligation and plan assets of the defined benefit
plans for the years ended March 31, 2002 and 2003 are as follows:
1 1 . PENSION AND RETIREMENT ALLOWANCES PLANS
Change in benefit obligation:
Benefit obligation at beginning of year
Service cost
Interest cost
Plan participants’ contributions
Am endments
Actuarial loss
Settlement
Benefits paid
Foreign exchange impact
Benefit obligation at end of year
Change in plan assets:
Fair value of plan assets at beginning of year
Actual return on plan assets
Em ployer contribution
Plan participants’ contributions
Settlement
Benefits paid
Foreign exchange impact
Fair value of plan assets at end of year
Funded status
Unrecognized net actuarial loss
Unrecognized prior service cost
Unrecognized net asset at transition, net of amortization
Net amount recognized
Am ounts recognized in the balance sheets consist of:
Prepaid benefit cost
Accrued benefit liability
Intangible assets
Accumulated other comprehensive incom e, gross of tax
Net amount recognized
Thousands of
U.S. dollars
2 0 0 3
Millions of yen
2 0 0 3
¥ 4 5 2 ,5 6 2
1 6 ,9 4 3
1 4 ,2 9 2
1 ,1 0 5
( 1 0 ,9 2 4 )
6 4 ,8 5 2
( 2 ,0 0 9 )
( 1 3 ,1 9 7 )
( 1 ,3 4 9 )
¥ 5 2 2 ,2 7 5
¥ 2 6 8 ,3 7 7
( 3 6 ,8 3 8 )
1 4 ,2 8 1
1 ,1 0 5
( 1 ,6 3 6 )
( 9 ,2 4 6 )
( 6 9 7 )
¥ 2 3 5 ,3 4 6
¥ ( 2 8 6 ,9 2 9 )
2 4 5 ,6 3 2
( 1 0 ,0 8 1 )
( 2 ,4 1 4 )
¥ ( 5 3 ,7 9 2 )
¥ 6 1
( 2 0 7 ,9 4 8 )
199
1 5 3 ,8 9 6
¥ ( 5 3 ,7 9 2 )
2002
¥ 424,176
15,636
13,693
1,585
—
8,309
( 3,005)
( 12,558)
4,726
¥ 452,562
¥ 274,323
( 11,715)
12,680
1,585
( 2,858)
( 9,767)
4,129
¥ 268,377
¥ ( 184,185)
143,448
—
( 2,953)
¥ ( 43,690)
¥ 1,262
( 113,685)
—
68,733
¥ ( 43,690)
$ 3 ,8 3 5 ,2 7 1
1 4 3 ,5 8 5
1 2 1 ,1 1 9
9 ,3 6 4
( 9 2 ,5 7 6 )
5 4 9 ,5 9 3
( 1 7 ,0 2 6 )
( 1 1 1 ,8 3 9 )
( 1 1 ,4 3 2 )
$ 4 ,4 2 6 ,0 5 9
$ 2 ,2 7 4 ,3 8 1
( 3 1 2 ,1 8 6 )
1 2 1 ,0 2 6
9 ,3 6 4
( 1 3 ,8 6 4 )
( 7 8 ,3 5 6 )
( 5 ,9 0 7 )
$ 1 ,9 9 4 ,4 5 8
$ ( 2 ,4 3 1 ,6 0 1 )
2 ,0 8 1 ,6 2 7
( 8 5 ,4 3 2 )
( 2 0 ,4 5 8 )
$ ( 4 5 5 ,8 6 4 )
$ 517
( 1 ,7 6 2 ,2 7 1 )
1 ,6 8 7
1 ,3 0 4 ,2 0 3
$ ( 4 5 5 ,8 6 4 )
Weighted average assumptions
Discount rate
Rate of increase in com pensation levels
Expected long-term rate of return on plan assets
2 0 0 3
2002
3.3%
3.4%
4.8%
2 .6 %
3 .4 %
3 .6 %