Changes in Assumptions for Retirement Benefit Obligations and Pension Assets
First written in FY2016. 3 of 6 entries say "Mitigated", first in FY2018. Latest entry: FY2023.
The whole theme swung hardest in 2020: 7 of 49 companies on the "Worse" side.
30 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「To mitigate these effects, the Group has changed part of its retirement benefit plans from defined benefit pension plans to defined contribution pension plans since April 2018. However, defined benefit pension plans remain in place, so these possibilities cannot be eliminated entirely.」
The Company continues to explain that, while part of its defined benefit pension plans has been transitioned to defined contribution pension plans, defined benefit pension plans remain in place. - FY2020MitigatedAnnual report
「Certain consolidated subsidiaries transitioned part of their defined benefit corporate pension plans to defined contribution pension plans effective 1 January 2020 and 1 April 2020,」
Part of the defined benefit pension plans was transitioned to defined contribution pension plans effective 1 January and 1 April 2020, and measures to mitigate fluctuations in retirement benefit obligations and expenses are continuing. - FY2019-Q3RestatedAnnual report
「At certain consolidated subsidiaries, a gain on the settlement of retirement benefit plans of ¥3,564 million was recorded in connection with the transition of part of the defined benefit corporate pension plans to defined contribution pension plans,」
The gain of ¥3,564 million on the settlement of retirement benefit plans associated with the partial transition of defined benefit pension plans is stated again. - FY2019-Q1MitigatedAnnual report
「As a result of the transition of part of the defined benefit corporate pension plans to defined contribution pension plans at certain consolidated subsidiaries, a gain on the settlement of retirement benefit plans of ¥3,564 million was recorded, resulting in extraordinary income of ¥3,928 million and extraordinary losses of ¥469 million,」
Part of the defined benefit pension plans was transitioned to defined contribution pension plans, and a gain of ¥3,564 million on the settlement of retirement benefit plans was recorded. This confirms the implementation of measures to mitigate fluctuations in retirement benefit obligations and expenses. - FY2018MitigatedAnnual report
「To mitigate these effects, the Group has changed part of its retirement benefit plans from defined benefit pension plans to defined contribution pension plans since April 2018. However, defined benefit pension plans remain in place, so these possibilities cannot be eliminated entirely.」
The Company has indicated a policy of changing part of its retirement benefit plans to defined contribution pension plans from April 2018 to mitigate fluctuations in retirement benefit obligations and expenses. At the same time, it states that defined benefit pension plans will remain in place. - FY2016First statedAnnual report
「If interest rates decline, investment yields decline, the market value of pension assets falls or similar events occur, or if the retirement allowance or pension plans are changed, the Group's financial position and operating results may be adversely affected by the recognition of additional liabilities related to retirement benefits, the occurrence of unrecognized past service costs or an increase in future retirement benefit expenses.」
The discount rate at the end of the current fiscal year is stated as 0.4%–1.1%, and the long-term expected rate of return on plan assets as 1.0%–2.5%.