Risk of Costs Arising from the Dissolution of an Employees' Pension Fund
First written in FY2016. 3 of 8 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2021: 1 of 8 companies on the "Worse" side.
10 other companies' latest entry also says "Mitigated".
- FY2021MitigatedAnnual report
「The Minister of Health, Labour and Welfare approved the settlement report for the completion of liquidation of the Employees' Pension Fund in which the Company and certain consolidated subsidiaries had participated, dated 14 July 2020.」
The settlement report relating to completion of liquidation of the Employees' Pension Fund was approved on 14 July 2020. The process progressed from liquidation to completion. - FY2020Continuation of fund liquidation procedures and withdrawal from another fundAnnual report
「In addition, the Company and certain consolidated subsidiaries participate in an Employees' Pension Fund under a multiple-employer plan. Because the amount of pension assets corresponding to the Company's contributions can be reasonably estimated, the plan is disclosed in the notes to the defined benefit plans. The fund is currently undergoing liquidation procedures. Certain consolidated subsidiaries also participate in a corporate pension fund under a multiple-employer plan. For plans where the amount of pension assets corresponding to their contributions cannot be reasonably calculated, the subsidiaries account for them in the same manner as defined contribution plans. The relevant consolidated subsidiaries withdrew from the fund effective 31 March 2020.」
The Employees' Pension Fund continued to be in liquidation, while certain consolidated subsidiaries withdrew from another corporate pension fund effective 31 March 2020. - FY2019RestatedAnnual report
「In addition, the Company and certain consolidated subsidiaries participate in an Employees' Pension Fund under a multiple-employer plan. Because the amount of pension assets corresponding to the Company's contributions can be reasonably estimated, the plan is disclosed in the notes to the defined benefit plans. The fund is currently undergoing liquidation procedures.」
The Employees' Pension Fund is stated to be undergoing liquidation procedures, indicating that the process continued after the dissolution and payment procedures progressed in the previous fiscal year. - FY2018MitigatedAnnual report
「The Company and certain domestic consolidated subsidiaries received approval from the Minister of Health, Labour and Welfare on 1 April 2016 for exemption from future payment obligations relating to the substitute portion of the Employees' Pension Fund, and approval to return the past portion on 22 March 2017. In addition, an amount equivalent to the liability reserve as of the fund's dissolution in March 2017 was paid in advance to the government on 12 June 2017.」
The Employees' Pension Fund was dissolved in March 2017, and the process progressed through approval to return the substitute portion and the advance payment in June 2017. The dissolution and payment procedures are progressing for the cost-incurrence risk that became concrete in the previous fiscal year. - FY2017-Q3WorsenedAnnual report
「At the representatives' meeting held on 27 January 2017, a resolution was passed to apply for ordinary dissolution. As dissolution is scheduled for 22 March 2017, an extraordinary loss of ¥175 million (estimated) is scheduled to be recognized in the consolidated financial statements for the current consolidated fiscal year. In addition, an estimated deferred income tax adjustment of negative ¥68 million is expected to arise in connection with recognition of the extraordinary loss, resulting in an estimated negative impact of ¥107 million on net income attributable to owners of the parent.」
An application for ordinary dissolution of the Employees' Pension Fund was approved, with dissolution scheduled for 22 March 2017. Although the cost has not yet been recognized, estimated figures of an extraordinary loss of ¥175 million and a negative impact of ¥107 million on net income attributable to owners of the parent were disclosed, making the risk more concrete and quantifiable. - FY2017-Q2RestatedAnnual report
「The Tokyo Metal Enterprise Welfare Pension Fund, in which the Company and one of its consolidated subsidiaries participate, resolved at its representatives' meeting held on 18 September 2015 to pursue dissolution. This resolution may result in costs associated with the fund's dissolution, but many factors remain uncertain at present, making it difficult to reasonably estimate the amount.」
Reiterates the same risk of costs arising from the dissolution of the Employees' Pension Fund. - FY2017-Q1RestatedAnnual report
「The Tokyo Metal Enterprise Welfare Pension Fund, in which the Company and one of its consolidated subsidiaries participate, resolved at its representatives' meeting held on 18 September 2015 to pursue dissolution. This resolution may result in costs associated with the fund's dissolution, but many factors remain uncertain at present, making it difficult to reasonably estimate the amount.」
Reiterates, unchanged from the previous fiscal year, the risk of costs arising from the dissolution of the Employees' Pension Fund. - FY2016First statedAnnual report
「The Tokyo Metal Enterprise Welfare Pension Fund, in which the Company and one of its consolidated subsidiaries participate, resolved at its representatives' meeting held on 18 September 2015 to pursue dissolution. This resolution may result in costs associated with the fund's dissolution, but many factors remain uncertain at present, making it difficult to reasonably estimate the amount.」
The potential for future costs following the resolution to pursue dissolution of the fund is stated as a risk.