Change in the Retirement Benefit Cost Recognition Period from 15 Years to 13 Years
First written in FY2021-Q2. 2 of 4 entries say "Restated". Latest entry: FY2024-Q1.
1 other company's latest entry also says "Other".
- FY2024-Q1Change to an 11-year expense recognition periodAnnual report
「For the expense recognition period for actuarial differences related to retirement benefits, the Company had previously recognized expenses over 13 years, a period within the employees’ average remaining service period. Since the average remaining service period fell below 13 years, the Company changed the expense recognition period to 11 years beginning with the first quarter of the current fiscal year.」
The expense recognition period for retirement benefits, changed from 15 years to 13 years in the previous fiscal year, was changed to 11 years beginning with the first quarter because of changes in the average remaining service period. The impact was described as immaterial. - FY2021RestatedAnnual report
「For the expense recognition period for actuarial differences and past service costs related to retirement benefits, the Company had previously recognized expenses over 15 years, a period within the employees’ average remaining service period. Since the average remaining service period fell below 15 years, the Company changed the expense recognition period to 13 years beginning in the current fiscal year.」
The change in the expense recognition period for retirement benefits from 15 years to 13 years continued to apply in the annual financial statements, and was indicated to have increased operating loss and other items by ¥69 million. - FY2021-Q3RestatedAnnual report
「For the expense recognition period for actuarial differences and past service costs related to retirement benefits, the Company had previously recognized expenses over 15 years, a period within the employees’ average remaining service period. Since the average remaining service period fell below 15 years, the Company changed the expense recognition period to 13 years beginning with the first quarter of the current fiscal year.」
The accounting estimate changing the expense recognition period for retirement benefits from 15 years to 13 years continues to apply in the cumulative third quarter of the current fiscal year. - FY2021-Q2First statedAnnual report
「For the expense recognition period for actuarial differences and past service costs related to retirement benefits, the Company had previously recognized expenses over 15 years, a period within the employees’ average remaining service period. Since the average remaining service period fell below 15 years, the Company changed the expense recognition period to 13 years beginning with the first quarter of the current fiscal year.」
Because the employees’ average remaining service period fell below the previously used period, the expense recognition period was changed from 15 years to 13 years beginning with the first quarter of the current fiscal year.