Risk of Expenses Arising from the Policy to Dissolve the Employees' Pension Fund
First written in FY2016. 7 of 12 entries say "Restated". Latest entry: FY2019.
The whole theme swung hardest in 2021: 1 of 7 companies on the "Worse" side.
9 other companies' latest entry also says "Mitigated".
- FY2019MitigatedAnnual report
「Non-current liabilities decreased 23.9% from the end of the previous fiscal year to ¥1,124 million. This was mainly due to a ¥288 million decrease in the provision for loss on dissolution of the Employees' Pension Fund, among other factors.」
The ¥288 million provision for loss on dissolution of the Employees' Pension Fund was eliminated from the balance sheet, indicating that the treatment of the dissolution-related costs had progressed and been completed. - FY2019-Q3RestatedAnnual report
「The main reason for the decrease in non-current liabilities was the ¥288 million decrease in the provision for loss on dissolution of the Employees' Pension Fund.」
The ¥288 million decrease in the provision for loss on dissolution of the Employees' Pension Fund was reflected in the balance sheet, continuing to show the status following completion of the treatment of the dissolution-related costs. - FY2019-Q2RestatedAnnual report
「The main reason for the decrease in non-current liabilities was the ¥288 million decrease in the provision for loss on dissolution of the Employees' Pension Fund, despite a ¥216 million increase in deferred tax liabilities.」
The ¥288 million provision for loss on dissolution of the Employees' Pension Fund was eliminated from the balance sheet, continuing to reflect the treatment of the dissolution-related costs finalized and paid by the previous filing. - FY2019-Q1MitigatedAnnual report
「Following the determination of the additional contribution payable by the Company, together with the amount equivalent to the actuarial reserve, in connection with the Japan Surfactant Industry Employees' Pension Fund in which the Company participates (dissolution date: 27 January 2017), the Japan Pension Service sent a notice of payment for the additional contribution dated 21 May 2018, and the Company had already made the payment on 31 May. According to the notice, the payment was ¥269 million against the ¥288 million provision for loss on dissolution of the Employees' Pension Fund recorded under liabilities in the consolidated balance sheet for the previous fiscal year, and the ¥19 million difference was recorded as a reversal of the provision for loss on dissolution of the Employees' Pension Fund under extraordinary income in the consolidated statement of income for the first quarter of the current fiscal year.」
Payment of the ¥269 million additional contribution associated with the dissolution of the fund was completed, and the ¥19 million difference from the provision already recorded was treated as a reversal gain. The amount and accounting treatment of the cost risk have been finalized. - FY2018MitigatedAnnual report
「Following the determination of the additional contribution payable by the Company, together with the amount equivalent to the actuarial reserve, in connection with the Japan Surfactant Industry Employees' Pension Fund in which the Company participates (dissolution date: 27 January 2017), the Japan Pension Service sent a notice of payment for the additional contribution dated 21 May 2018, and the Company had already made the payment on 31 May.」
The additional contribution associated with the dissolution of the fund was finalized, and ¥269 million was paid. The ¥19 million difference from the ¥288 million provision for loss on dissolution already recorded is expected to be recognized as a reversal gain in the following fiscal year, clarifying the amount and accounting treatment of the cost risk. - FY2018-Q3RestatedAnnual report
「Provision for loss on dissolution of the Employees' Pension Fund 288」
The ¥288 million provision for loss on dissolution of the Employees' Pension Fund continues to be recorded. - FY2018-Q2RestatedAnnual report
「Provision for loss on dissolution of the Employees' Pension Fund 288」
The ¥288 million provision for loss on dissolution of the Employees' Pension Fund continues to be recorded. - FY2018-Q1RestatedAnnual report
「Provision for loss on dissolution of the Employees' Pension Fund 288」
The ¥288 million provision for loss on dissolution of the Employees' Pension Fund continues to be recorded from the end of the previous fiscal year. - FY2017-Q3RestatedAnnual report
「The Japan Surfactant Industry Employees' Pension Fund, in which the Company and certain equity-method affiliates participate, resolved to dissolve under a special procedure at the meeting of representatives held on 25 October 2016. As a result, during the second quarter of the fiscal year, ¥288 million was recorded as an expense for the provision for loss on dissolution of the Employees' Pension Fund under extraordinary losses in the quarterly consolidated statement of income, and ¥288 million was recorded as the provision for loss on dissolution of the Employees' Pension Fund under non-current liabilities in the quarterly consolidated balance sheet.」
The resolution to dissolve under a special procedure and the recording of the ¥288 million provision for loss were reiterated in the additional information, continuing the disclosure of the risk that became specific in the previous quarter. - FY2017-Q2MaterialisedAnnual report
「The Japan Surfactant Industry Employees' Pension Fund, in which the Company and certain equity-method affiliates participate, resolved to dissolve under a special procedure at the meeting of representatives held on 25 October 2016. As a result, ¥288 million was recorded as an expense for the provision for loss on dissolution of the Employees' Pension Fund under extraordinary losses in the quarterly consolidated statement of income, and ¥288 million was recorded as the provision for loss on dissolution of the Employees' Pension Fund under non-current liabilities in the quarterly consolidated balance sheet.」
The costs associated with the dissolution had previously been deemed impossible to estimate reasonably, but following the resolution to dissolve under a special procedure, a ¥288 million provision for loss was recorded. - FY2017-Q1RestatedAnnual report
「The resolution on this policy is expected to result in costs associated with the dissolution of the fund. However, because many uncertainties remain at this time, it is difficult to reasonably estimate the amount.」
The situation continues in which the costs associated with the dissolution policy of the Employees' Pension Fund cannot be reasonably estimated. - FY2016First statedAnnual report
「The resolution on this policy is expected to result in costs associated with the dissolution of the fund. However, because many uncertainties remain at this time, it is difficult to reasonably estimate the amount.」
Following the resolution on the dissolution policy of the Japan Surfactant Industry Employees’ Pension Fund, the company disclosed the possibility of future costs.