Pension Funding Deficit in Multi-Employer Plans
First written in FY2017. 1 of 2 entries say "Reframed", first in FY2018. Latest entry: FY2018.
Kunimine Industries moved to the "Worse" side of this theme in 2018, 2 years before the typical company in this theme (2020).
The whole theme swung hardest in 2023: 1 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2018ReframedAnnual report
「The employees' pension fund in which the Company participated was dissolved with the permission of the Minister of Health, Labour and Welfare effective 1 May 2017. Following the dissolution of the above employees' pension fund, the Company established a defined contribution pension plan, with employees able to choose between it and a future-planning allowance.」
The pension structure changed from disclosing a funding shortfall in a multiemployer plan to establishing a defined contribution pension plan following the dissolution of the employees' pension fund in which the Company had participated. - FY2017First statedAnnual report
「For the funded status of the plan as a whole, pension assets totaled ¥77,014 million for the consolidated fiscal year, while the combined amount of the actuarial liability calculated for pension funding purposes and the minimum liability reserve was ¥96,894 million, resulting in a shortfall of ¥19,880 million.」
For the multiemployer plan, the Company discloses a ¥19,880 million shortfall after offsetting pension assets against liabilities and other amounts.