Future financial risks associated with the management of the corporate pension fund
First written in FY2019-Q2. 2 of 3 entries say "Mitigated", first in FY2019-Q3. Latest entry: FY2019.
0 other companies' latest entry also says "Mitigated".
- FY2019MitigatedAnnual report
「The company and certain domestic subsidiaries had participated in the Tokyo Electrical Industry Corporate Pension Fund, but withdrew from it effective 31 March 2019. As a result, the company recognized a loss on withdrawal from a corporate pension fund of ¥406 million as an extraordinary loss in the current consolidated fiscal year.」
Withdrawal from the corporate pension fund was completed effective 31 March 2019, addressing the financial risk associated with the future investment performance of pension assets. At the same time, a loss on withdrawal of ¥406 million was recognized in the current fiscal year. - FY2019-Q3MitigatedAnnual report
「At a representatives' meeting of the Tokyo Electrical Industry Corporate Pension Fund held on 22 January 2019, the withdrawal of the company and 2 domestic subsidiaries from the fund was approved.」
Withdrawal from the fund was approved as a response to financial risk arising from the future investment performance of pension assets. A special contribution of approximately ¥420 million was expected to be payable upon withdrawal on 31 March 2019, and the disclosure does not state that the risk had been completely eliminated. - FY2019-Q2First statedAnnual report
「The company resolved to withdraw from the fund because its future financial position could be exposed to risk depending on the future performance of pension assets and other factors.」
The company first explicitly identified the financial risk arising from the future performance of the corporate pension fund. If the withdrawal were approved, a special contribution of approximately ¥420 million would be payable upon withdrawal.