Employees' Pension Fund Funding Shortfalls, Dissolution and Liquidation
First written in FY2016. 2 of 3 entries say "Mitigated", first in FY2017. Latest entry: FY2018.
The whole theme swung hardest in 2023: 1 of 6 companies on the "Worse" side.
5 other companies' latest entry also says "Mitigated".
- FY2018MitigatedAnnual report
「The Employees' Pension Fund system in which the company participated, the Osaka Food and Beverage Service Industry Employees' Pension Fund, remains in liquidation following its dissolution, but the company incurred no loss burden.」
The company states that the fund's liquidation procedures remain ongoing, but that no loss burden was incurred, changing the disclosure from a previous expectation to an actual result. - FY2017MitigatedAnnual report
「Pension assets amounted to ¥10,132 million, while the combined amount of actuarial liabilities under pension funding calculations and the minimum liability reserve was ¥11,781 million, resulting in a shortfall of ¥1,648 million. The Osaka Food and Beverage Service Industry Employees' Pension Fund, in which the company participates, received approval for dissolution from the Minister of Health, Labour and Welfare on 20 May 2016 and is currently being liquidated. No loss burden associated with the dissolution is expected to arise.」
The shortfall decreased from the previously reported ¥2,124 million to ¥1,648 million, while the fund's dissolution and liquidation continue. No loss burden associated with the dissolution is expected to arise. - FY2016First statedAnnual report
「Pension assets amounted to ¥10,536 million, while the combined amount of actuarial liabilities under pension funding calculations and the minimum liability reserve was ¥12,660 million, resulting in a shortfall of ¥2,124 million. The Osaka Food and Beverage Service Industry Employees' Pension Fund, in which the company participates, was dissolved with the approval of the Minister of Health, Labour and Welfare on 20 May 2016 and is currently being liquidated. No loss burden associated with the dissolution is expected to arise.」
The company describes the fund's underfunding and the progress of its dissolution and liquidation, while stating that no loss burden associated with the dissolution is expected to arise.