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Employee benefit plans (Tables)
12 Months Ended
Mar. 31, 2017
Employee benefit plans  
Net periodic benefit cost for defined benefit plans

 

     Millions of yen  
     Year ended March 31  
     2015     2016     2017  

Service cost

   ¥ 7,800     ¥ 8,253     ¥ 8,909  

Interest cost

     3,090       2,092       1,444  

Expected return on plan assets

     (5,732     (6,064     (6,004

Amortization of net actuarial losses

     2,127       1,456       2,867  

Amortization of prior service cost

     (1,148     (1,148     (1,090
  

 

 

   

 

 

   

 

 

 

Net periodic benefit cost

   ¥ 6,137     ¥ 4,589     ¥ 6,126  
Reconciliation of changes in projected benefit obligation and fair value of plan assets

 

     Millions of yen  
     As of or for the year ended March 31  
                 2016                              2017               

Change in projected benefit obligation:

    

Projected benefit obligation at beginning of year

   ¥ 240,858     ¥ 253,292  

Service cost

     8,253       8,909  

Interest cost

     2,092       1,444  

Actuarial gain

     13,121       16,367  

Benefits paid

     (10,528     (10,285

Acquisition, divestitures and other

     (504     9  
  

 

 

   

 

 

 

Projected benefit obligation at end of year

   ¥ 253,292     ¥ 269,736  
  

 

 

   

 

 

 

Change in plan assets:

    

Fair value of plan assets at beginning of year

   ¥ 233,837     ¥ 232,027  

Actual return on plan assets

     2,540       6,754  

Employer contributions

     4,559       4,124  

Benefits paid

     (8,909     (8,960
  

 

 

   

 

 

 

Fair value of plan assets at end of year

   ¥ 232,027     ¥ 233,945  
  

 

 

   

 

 

 

Funded status at end of year

     (21,265     (35,791
  

 

 

   

 

 

 

Amounts recognized in the consolidated balance sheets

   ¥ (21,265   ¥ (35,791
  

 

 

   

 

 

 
Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with ABO and PBO in excess of plan assets

 

     Millions of yen  
     March 31  
     2016      2017  

Plans with ABO in excess of plan assets:

     

PBO

   ¥ 31,788      ¥ 36,587  

ABO

     31,788        36,587  

Fair value of plan assets

     —          —    

Plans with PBO in excess of plan assets:

     

PBO

   ¥ 31,788      ¥ 36,587  

ABO

     31,788        36,587  

Fair value of plan assets

     —          —    
Amounts in accumulated other comprehensive income, pre-tax, that have not yet been recognized as components of net periodic benefit cost

 

     Millions of yen  
     For the year  ended
March 31, 2017
 

Net actuarial loss

   ¥ 69,940  

Net prior service cost

     (7,710
  

 

 

 

Total

   ¥ 62,230  
Amounts in accumulated other comprehensive income, pre-tax, expected to be recognized as components of net periodic benefit cost over next fiscal year

 

     Millions of yen  
     For the year  ending
March 31, 2018
 

Net actuarial loss

   ¥ 3,950  

Net prior service cost

     (1,148
  

 

 

 

Total

   ¥ 2,802  
  

 

 

Schedule of weighted-average assumptions used to determine PBO

 

     March 31  
     2016     2017  

Discount rate

     0.6     0.9

Rate of increase in compensation levels

     2.5     2.5
Weighted-average assumptions used to determine net periodic benefit costs

 

     Year ended March 31  
     2015     2016     2017  

Discount rate

     1.4     0.9     0.6

Rate of increase in compensation levels

     2.5     2.5     2.5

Expected long-term rate of return on plan assets

     2.6     2.6     2.6
Information about plan assets at fair value

 

     Millions of yen  
     March 31, 2016  
     Level 1      Level 2      Level 3      Balance as  of
March 31, 2016
 

Pension plan assets:

           

Equities

   ¥ 21,283      ¥ —        ¥ —        ¥ 21,283  

Private equity investments

     —          —          7,510        7,510  

Japanese government securities

     61,803        —          —          61,803  

Bank and corporate debt securities

     2,380        2,163        —          4,543  

Investment trust funds and other(1)

     —          12,934        47,699        60,633  

Life insurance company general accounts

     —          52,109        —          52,109  

Other assets

     —          24,146        —          24,146  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   ¥ 85,466      ¥ 91,352      ¥ 55,209      ¥ 232,027  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Millions of yen  
     March 31, 2017  
     Level 1      Level 2      Level 3      Balance as  of
March 31, 2017
 

Pension plan assets:

           

Equities

   ¥ 24,375      ¥ —        ¥ —        ¥ 24,375  

Private equity investments

     —          —          6,785        6,785  

Japanese government securities

     53,270        —          —          53,270  

Bank and corporate debt securities

     2,389        1,932        —          4,321  

Investment trust funds and other(1)

     —          9,816        50,424        60,240  

Life insurance company general accounts

     —          53,098        —          53,098  

Other assets

     —          31,856        —          31,856  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   ¥ 80,034      ¥ 96,702      ¥ 57,209      ¥ 233,945  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Includes hedge funds and real estate funds.

 

Information about plan assets for which Level 3 inputs are utilized to determine fair value

 

     Millions of yen  
     Year ended March 31, 2016        
     Balance
as of
April 1,
2015
     Unrealized
and  realized
gains / loss
    Purchases /
sales and
other
settlement
    Balance
as of
March 31,
2016
 

Private equity investments

   ¥ 6,793      ¥  (2,034   ¥ 2,751     ¥ 7,510  

Investment trust funds and other

     48,545        (2,018     1,172       47,699  
  

 

 

    

 

 

   

 

 

   

 

 

 

Total

   ¥ 55,338      ¥ (4,052   ¥ 3,923     ¥ 55,209  
  

 

 

    

 

 

   

 

 

   

 

 

 
     Millions of yen  
     Year ended March 31, 2017        
     Balance
as of
April 1,
2016
     Unrealized
and realized
gains / loss
    Purchases /
sales and
other
settlement
    Balance
as of
March 31,
2017
 

Private equity investments

   ¥ 7,510      ¥ 353     ¥ (1,078   ¥ 6,785  

Investment trust funds and other

     47,699        1,155       1,570       50,424  
  

 

 

    

 

 

   

 

 

   

 

 

 

Total

   ¥ 55,209      ¥ 1,508     ¥ 492     ¥ 57,209  
  

 

 

    

 

 

   

 

 

   

 

 

 
Expected benefit payments

 

Year ending March 31

   Millions of yen  

2018

   ¥ 12,232  

2019

     12,199  

2020

     11,806  

2021

     11,489  

2022

     11,708  

2023-2027

     64,993