Wacom 2011 Annual Report Download - page 19

Thousands of yen Thousands of
U.S. dollars
(1)Service cost
(2)Interest cost
(3)Recognized actuarial loss
(4)Contribution
(5)Extra retirement payments
(6)
Net periodic pension expense
¥49,904
9,665
(545)
89,908
53,632
¥202,564
¥53,300
7,513
6,775
89,070
7,217
¥163,875
$641
90
82
1,071
87
$1,971
2010 2011 2011
Thousands of yen
Cost of sales
Selling, general and administrative expenses
¥3,301
28,616
March 31, 2011
Thousands of U.S. dollars
Cost of sales
Selling, general and administrative expenses
$40
344
March 31, 2011
(1)Discount rate
(2)
Method of attributing the projected
benefits to periods of service
(3)Amortization of unrecognized
actuarial differences
Mainly 1.39%
Straight-line
basis
Mainly
straight-line
over 5 years
Mainly 1.24%
Straight-line
basis
Mainly
straight-line
over 5 years
2010 2011
November 8, 2002
June 24, 2004
June 23, 2005
Employees
Subsidiaries’ executive officers
Subsidiaries’ employees
Executive officers
Employees
Subsidiaries’ employees
Executive officers
Employees
Subsidiaries’ employees
19,160
1,200
800
21,160
113
6
33
2
4
9
1
6
9
Person granted
Number of
options granted
(shares)
Date of ordinary
shareholders’
meeting
36
Notes to Consolidated Financial Statements
The assumptions used as of March 31, 2010 and 2011
are as follows:
Certain of our consolidated foreign subsidiaries have
defined contribution pension plans.
15. Stock options:
Information regarding stock options for the year ended
March 31, 2010 is as follows:
(1) Contents, scale and changes of stock options
(a) Contents of stock options
(b) Scale and changes in stock options
i) Number of stock options
ii) Unit price information
Information regarding stock options for the year ended
March 31, 2011 is as follows:
(1) Account name and amount regarding stock option
(2) Contents, scale and changes of stock options
(a) Contents of stock options
(b) Scale and changes of stock options
i) Number of stock options
November 8, 2002
June 23, 2005
June 24, 2010
Employees
Subsidiaries’ executive officers
Subsidiaries’ employees
Executive officers
Employees
Subsidiaries’ employees
Directors
Executive officers
Employees
Subsidiaries’ directors
Subsidiaries’ employees
19,160
800
2,985
22,945
113
6
33
1
6
9
6
3
70
3
63
Person granted
Number of
options granted
(shares)
Date of ordinary
shareholders’
meeting
Outstanding at
March 31, 2009
Granted
Exercised
Expired
Outstanding at
March 31, 2010
Exercise periods
1,060
-
120
-
940
804
-
-
804
-
800
-
-
20
780
November 8,
2002
June 24,
2004
June 23,
2005
Date of ordinary
shareholders’
meeting
(Unit: shares)
From November 9,
2004 to October 31,
2011
From June 25,
2006 to June 24,
2009
From June 24,
2007 to June 23,
2010
Outstanding at
March 31, 2010
Granted
Exercised
Expired
Outstanding at
March 31, 2011
Exercise periods
940
-
-
-
940
780
-
-
780
-
-
2,985
-
55
2,930
November 8,
2002
June 23,
2005
June 24,
2010
Date of ordinary
shareholders’
meeting
(Unit: shares)
From November 9,
2004 to October 31,
2011
From June 24,
2007 to June 23,
2010
From August 12,
2012 to August 11,
2015
November 8, 2002
June 24, 2004
June 23, 2005
¥17,659
306,139
242,865
¥156,650
-
-
From November 9, 2004 to
October 31, 2011
From June 25, 2006 to
June 24, 2009
From June 24, 2007 to
June 23, 2010
Exercise price
per share
(exact yen)
Average price per
share at exercise
(exact yen)
Exercise periods
Date of ordinary
shareholders’
meeting
35
The loss on impairment of investment securities for
the fiscal year ended March 31, 2011 was ¥20,000
thousand ($241 thousand). If net value at end of fiscal
year decline to 50% or less of acquisition cost, the
company recognizes a loss on impairment of invest-
ment securities after considering future recoverability.
13. Derivatives:
All derivative transactions are entered into to hedge
foreign currency exposures within the Company’s
business. Accordingly, the market risk in these
derivatives is offset by opposite movements in the
value of hedged assets or liabilities. The Company
does not hold derivatives for trading or speculative
purposes. Because the counterparties to these
derivatives are limited to major international finance
institutions, the Company does not anticipate any
losses arising from credit risk.
Derivative transactions entered into by the Company
have been executed in accordance with internal
policies, which regulate the authorization and credit
limit amount of transactions.
The amount of the derivative contracts does not
necessarily indicate the significance of the risk.
Certain information on outstanding derivative con-
tracts is shown below.
14. Provision for retirement benefits:
The Company has an unfunded retirement allowance
plan (the “Plan”) covering substantially all of its
employees who meet eligibility requirements under
the Plan. In addition, the Company is a member of
the Saitama prefectural industrial park multi-employer
pension plan, which covers substantially all of its
employees and provides for benefits under the
governmental welfare pension benefit plan, which
would otherwise be provided by the Japanese
government.
This multi-employer pension plan does not permit us
to reasonably calculate the value of the pension plan
assets based on our contributions. As a result, this
multi-employer pension plan is excluded from the
calculation of projected benefit obligation.
Overview of the multi-employer pension plan is as
follows, under which the required contributions to the
plan are charged to income.
(1) The funded status of the pension plan as of March
31, 2010 and 2011
(2) The ratio of the number of company’s employees
to total employees in the multi-employer pension plan
as of March 31, 2010 is 17.6% and 2011 is 18.8%,
respectively.
The provision for retirement benefits for employees as
of March 31, 2010 and 2011 can be analyzed as
follows:
The components of the net periodic pension expense
for the years ended March 31, 2010 and 2011 are as
follows:
Thousands of yen
Foreign exchange forward contracts:
To sell U.S. dollars
To sell Euros
To sell British Pound
To buy U.S. dollars
Total
¥1,608,691
455,380
36,438
173,259
-
(¥65,060)
5,668
-
(3,505)
(¥62,897)
(¥65,060)
5,668
-
(3,505)
(¥62,897)
March 31, 2010
Contract amount Fair value
Unrealized gain/
(loss)
Thousands of yen
Foreign exchange forward contracts:
To sell U.S. dollars
To sell Euros
To buy U.S. dollars
Total
¥186,497
812,356
116,980
-
(¥3,958)
(25,575)
(2,580)
(¥32,113)
(¥3,958)
(25,575)
(2,580)
(¥32,113)
March 31, 2011
Contract amount Fair value
Unrealized gain/
(loss)
Thousands of U.S. dollars (Note 1)
Foreign exchange forward contracts:
To sell U.S. dollars
To sell Euros
To buy U.S. dollars
Total
$2,243
9,770
1,407
-
($48)
(307)
(31)
($386)
($48)
(307)
(31)
($386)
March 31, 2011
Contract amount Fair value
Unrealized gain/
(loss)
Thousands of yen Thousands of
U.S. dollars
The amount of pension assets
The amount of benefit
obligations under pension
funding programs
Net
¥5,955,349
(7,807,823)
(¥1,852,474)
¥6,570,527
(7,126,403)
(¥555,876)
$79,020
(85,705)
($6,685)
March 31
2010
March 31
2011
March 31
2011
Thousands of yen Thousands of
U.S. dollars
(1)Projected benefit obligation
(2)Unrecognized actuarial loss
(3)Provision for retirement
benefits for employees (1)+(2)
(¥470,090)
32,066
(¥438,024)
(¥511,576)
32,459
(¥479,117)
($6,152)
390
($5,762)
2010 2011 2011