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52
ANNUAL REPORT 2008
To Our Shareholders
and Customers
Fiscal 2008 Highlights
Fiscal 2008 Milestones 16th Mid-Term
Management Plan
Corporate Governance /
CSR
Financial Section
Sustainable Environmental
Management
Amounts recognized in the consolidated balance sheet as of March 31, 2007 and 2008 consist of:
Thousands of
Millions of Yen U.S. Dollars
2007
2008 2008
Lease deposits and other ¥ 25,161
¥ 9,085 $ 90,850
Accrued expenses and other (4,414)
(7,441) (74,410)
Accrued pension and severance costs (98,138)
(98,623) (986,230)
Net amount recognized ¥(77,391)
¥(96,979) $(969,790)
Amounts recognized in accumulated other comprehensive income as of March 31, 2007 and 2008 consist of:
Thousands of
Millions of Yen U.S. Dollars
2007
2008 2008
Net actuarial loss ¥ 64,990
¥82,328 $823,280
Prior service cost (50,232)
(46,895) (468,950)
Net asset at transition, net of amortization (82)
--
Net amount recognized ¥ 14,676
¥35,433 $354,330
The accumulated benefit obligations are as follows:
Thousands of
Millions of Yen U.S. Dollars
2007
2008 2008
Accumulated benefit obligations ¥376,203
¥371,460 $3,714,600
Weighted-average assumptions used to determine benefit obligations as of March 31, 2007 and 2008 are as follows:
2007
2008
Discount rate 3.1%
3.1%
Rate of compensation increase 5.3%
5.3%
Weighted-average assumptions used to determine the net periodic benefit cost for the years ended March 31, 2006, 2007 and 2008 are as follows:
2006 2007
2008
Discount rate 3.0% 2.8%
3.1%
Rate of compensation increase 5.0% 5.4%
5.3%
Expected long-term return on plan assets 3.2% 3.1%
3.2%
The net periodic benefit costs of the pension plans for the years ended March 31, 2006, 2007 and 2008 consist of the following components:
Thousands of
Millions of Yen U.S. Dollars
2006 2007
2008 2008
Service cost ¥14,691 ¥15,687
¥15,592 $155,920
Interest cost 10,192 11,121
12,335 123,350
Expected return on plan assets (7,645) (9,186)
(10,234) (102,340)
Net amortization 1,833 (1,420)
(982) (9,820)
Settlement benefit (140) (18)
--
Total net periodic pension cost ¥18,931 ¥16,184
¥16,711 $167,110