Employees' Pension Fund Funding Shortfalls and Special Dissolution
First written in FY2016. 3 of 5 entries say "Materialised", first in FY2017-Q2. Latest entry: FY2018.
Daiwa Motor Transportation moved to the "Worse" side of this theme in 2016, 4 years before the typical company in this theme (2020).
The whole theme swung hardest in 2023: 1 of 6 companies on the "Worse" side.
5 other companies' latest entry also says "Mitigated".
- FY2018MitigatedAnnual report
「The fund received approval for dissolution from the Minister of Health, Labour and Welfare on 29 November 2016 and is currently undergoing liquidation procedures. No additional burden arising from the fund's dissolution is expected.」
The Employees' Pension Fund is undergoing liquidation procedures, and it states that no additional burden is expected to arise during the fiscal year. - FY2017MaterialisedAnnual report
「The ¥62 million amount of the loss associated with the subsidiary's fund dissolution was recorded as an extraordinary loss under loss on dissolution of the Employees' Pension Fund for the fiscal year.」
The loss associated with the dissolution and liquidation of the Employees' Pension Fund was recorded as a ¥62 million extraordinary loss for the full fiscal year, making the risk a concrete accounting burden. - FY2017-Q3MaterialisedAnnual report
「The Tokyo Taxi Drivers' Employees' Pension Fund, to which some of our consolidated subsidiaries belong, received approval for dissolution from the Minister of Health, Labour and Welfare on 29 November 2016 and is currently undergoing liquidation procedures. For the cumulative third quarter of the fiscal year, we recorded ¥15 million as an extraordinary loss under provision for loss on dissolution of the Employees' Pension Fund and the same amount as a provision for loss on dissolution of the Employees' Pension Fund under non-current liabilities, representing the estimated loss arising from the fund's dissolution.」
In addition to approval for the fund's dissolution and the transition to liquidation procedures, ¥15 million was recorded as an expense for the provision for loss on dissolution. - FY2017-Q2MaterialisedAnnual report
「For the cumulative second quarter of the fiscal year, we recorded ¥25 million as an extraordinary loss under provision for loss on dissolution of the Employees' Pension Fund and the same amount as a provision for loss on dissolution of the Employees' Pension Fund under non-current liabilities, representing the estimated loss arising from the fund's dissolution.」
A provision was recorded for the estimated ¥25 million loss associated with the fund's dissolution, making the previously identified risk of the dissolution procedures a concrete accounting burden. - FY2016First statedAnnual report
「The fund also resolved a policy for special dissolution at its representatives' meeting held on 17 December 2013 and has begun dissolution procedures ahead of the scheduled dissolution date of 31 October 2016.」
The difference between pension assets and actuarial liabilities was ¥25,186 million, and the start of procedures ahead of the scheduled dissolution on 31 October 2016 was disclosed.