Reversal of Retirement Benefit Provision Associated with Dissolution of Employees' Pension Fund
First written in FY2017-Q2. 1 of 4 entries say "Restated". Latest entry: FY2018.
The whole theme swung hardest in 2020: 1 of 9 companies on the "Worse" side.
0 other companies' latest entry also says "Advanced".
- FY2018AdvancedAnnual report
「In addition, 2 of the employees’ pension funds under multi-employer plans in which the Company and certain domestic consolidated subsidiaries participated have already been dissolved and fully liquidated. The remaining 1 fund has received approval for dissolution from the Minister of Health, Labour and Welfare and is currently undergoing liquidation procedures. No additional burden is expected to arise for the Group.」
From the previous status in which the remaining 2 funds were undergoing liquidation procedures, the situation has progressed to 2 funds being dissolved and fully liquidated, with only the remaining 1 fund still undergoing liquidation procedures. - FY2017Liquidation procedures for the remaining fundsAnnual report
「In addition, one of the employees’ pension funds under multi-employer plans in which the Company and certain domestic consolidated subsidiaries participated has already been dissolved, while the remaining 2 funds have received approval for dissolution from the Minister of Health, Labour and Welfare and are currently undergoing liquidation procedures.」
In addition to the reversal of provisions following the dissolution of employees’ pension funds in the past, the disclosure indicates that the remaining 2 funds are undergoing liquidation procedures after receiving approval for dissolution. - FY2017-Q3RestatedAnnual report
「As one of the multi-employer employees’ pension funds in which certain consolidated subsidiaries participated was dissolved, and no further additional contributions are expected to be required, the provision was reversed and recognized as extraordinary income.」
The reversal of the retirement benefit provision following the dissolution of the employees’ pension fund has been restated as comparative information for the same period of the previous year. It is not income newly generated in the quarter under review. - FY2017-Q2First statedAnnual report
「As one of the multi-employer employees’ pension funds in which certain consolidated subsidiaries participated was dissolved, and no further additional contributions are expected to be required, the provision was reversed and recognized as extraordinary income.」
As the dissolution of the multi-employer employees’ pension fund is expected to eliminate future additional contributions, the retirement benefit provision was reversed and recognized as extraordinary income.