Extension of Mandatory Retirement Age and Pension System Reform
First written in FY2017-Q2. 3 of 7 entries say "Restated". Latest entry: FY2019.
The whole theme swung hardest in 2023: 1 of 7 companies on the "Worse" side.
5 other companies' latest entry also says "Restated".
- FY2019RestatedAnnual report
「The revisions included, among other measures, a review of the benefit curve to make the level of lump-sum retirement benefits at age 60 equivalent to that after age 60. In addition, some defined benefit pension plans were discontinued and defined contribution pension plans introduced.」
The Company reiterated the extension of the mandatory retirement age, the elective retirement-age system and pension system reform implemented on 1 April 2017. - FY2018RestatedAnnual report
「The revisions included, among other measures, a review of the benefit curve to make the level of lump-sum retirement benefits at age 60 equivalent to that after age 60. In addition, some defined benefit pension plans were discontinued and defined contribution pension plans introduced.」
The Company reiterated the review of the benefit curve, partial discontinuation of defined benefit pension plans and introduction of defined contribution pension plans under the extension of the mandatory retirement age and pension system reform implemented on 1 April 2017. - FY2018-Q3RestatedAnnual report
「The revisions included, among other measures, a review of the benefit curve to make the level of lump-sum retirement benefits at age 60 equivalent to that after age 60. In addition, some defined benefit pension plans were discontinued and defined contribution pension plans introduced.」
The Company reiterated the review of the benefit curve, discontinuation of some defined benefit pension plans and introduction of defined contribution pension plans under the extension of the mandatory retirement age and pension system reform implemented on 1 April 2017. - FY2018-Q2AchievedAnnual report
「In August 2016, the Company and certain consolidated subsidiaries in Japan decided, in response to increasingly diverse individual needs, to raise the mandatory retirement age from 60 to 65 and introduce an elective retirement-age system under which employees can choose a retirement age between 60 and 65. They also decided to implement revisions to the defined benefit pension plans in line with the extension of the mandatory retirement age on 1 April 2017. The revisions included, among other measures, a review of the benefit curve to make the level of lump-sum retirement benefits at age 60 equivalent to that after age 60. In addition, some defined benefit pension plans were discontinued and defined contribution pension plans introduced.」
The Company disclosed that the extension of the mandatory retirement age, the elective retirement-age system and pension system reform scheduled for 1 April 2017 had been implemented, including the review of the benefit curve, discontinuation of some defined benefit pension plans and introduction of defined contribution pension plans. - FY2017AdvancedAnnual report
「In August 2016, the Company and certain consolidated subsidiaries in Japan decided, in response to increasingly diverse individual needs, to raise the mandatory retirement age from 60 to 65 and introduce an elective retirement-age system under which employees can choose a retirement age between 60 and 65. They also decided to implement revisions to the defined benefit pension plans in line with the extension of the mandatory retirement age on 1 April 2017. In connection with these revisions, the defined benefit obligation was reduced and past service cost was recognized in profit or loss. Past service cost recognized in profit or loss in the current consolidated fiscal year was ¥84,024 million (credit).」
The Company disclosed the reduction in the defined benefit obligation and recognition of ¥84,024 million of past service cost in connection with the extension of the mandatory retirement age and pension system reform scheduled for implementation on 1 April 2017. - FY2017-Q3AdvancedAnnual report
「In August 2016, the Company and certain consolidated subsidiaries in Japan decided, in response to increasingly diverse individual needs, to raise the mandatory retirement age from 60 to 65 and introduce an elective retirement-age system under which employees can choose a retirement age between 60 and 65. They also decided to implement revisions to the defined benefit pension plans in line with the extension of the mandatory retirement age on 1 April 2017. The revisions include, among other measures, a review of the benefit curve to make the level of lump-sum retirement benefits at age 60 equivalent to that after age 60. In addition, some defined benefit pension plans will be discontinued and defined contribution pension plans introduced. In connection with these revisions, the defined benefit obligation was reduced and past service cost was recognized in profit or loss. Past service cost recognized in profit or loss during the nine months ended the third quarter of the current fiscal year was ¥84,024 million (credit), reducing cost of sales by ¥37,197 million, selling, general and administrative expenses by ¥21,385 million, and research and development expenses by ¥25,442 million in the condensed quarterly consolidated statement of profit or loss.」
The Company reconfirmed the planned implementation on 1 April 2017 of the extension of the mandatory retirement age, the elective retirement-age system and pension system reform, and disclosed that ¥84,024 million of past service cost associated with the revisions had been recognized in profit or loss. - FY2017-Q2First statedAnnual report
「In August 2016, the Company and certain consolidated subsidiaries in Japan decided, in response to increasingly diverse individual needs, to raise the mandatory retirement age from 60 to 65 and introduce an elective retirement-age system under which employees can choose a retirement age between 60 and 65. They also decided to implement revisions to the defined benefit pension plans in line with the extension of the mandatory retirement age on 1 April 2017. The revisions include, among other measures, a review of the benefit curve to make the level of lump-sum retirement benefits at age 60 equivalent to that after age 60. In addition, some defined benefit pension plans will be discontinued and defined contribution pension plans introduced.」
The Company decided to raise the mandatory retirement age from 60 to 65, introduce an elective retirement-age system, revise its defined benefit pension plans effective 1 April 2017, and transition some plans to defined contribution pension plans.