ANNUAL REPORT

More documents

Recommendations

Info

The outstanding borrowings at March 31, 2009 and 2008, for which these assets have been collateralized are as follows : (in JPY millions) 2009 2008 Asahi Tec 62,442 104,054 HIT 64,513 77,265 Niles 14,575 14,197 Phoenix Seagaia Resort 7,144 7,777 Total 148,674 203,293 RHJI has pledged certain of its shares in certain businesses as collateral for these businesses’ respective senior credit facilities. The following shareholdings (presented as a percentage of RHJI’s ownership) were pledged as at March 31, 2009 and March 31, 2008 : Pledge shareholdings 2009 2008 Asahi Tec 100.0% 98.7% HIT 100.0% 100.0% Phoenix Seagaia Resort 100.0% 100.0% Shaklee 25.1% 25.1% 26. EMPLOYEE BENEFITS 26.1. Defined contribution plans The consolidated businesses have various defined contribution plans and the expenses recognized during the fiscal year ended March 31, 2009 are as follows : (in JPY millions) 2009 2008 Asahi Tec 686 1,666 CME 91 106 Niles 270 268 Corporate headquarters 22 - Total 1,069 2,040 The expense is recognized in the following line items in the income statement : (in JPY millions) 2009 2008 Cost of sales 779 1,612 Selling, general and administrative expenses 290 428 Total 1,069 2,040 26.2. Defined benefit obligations and other post-retirement obligations 26.2.1. Liability for defined benefit obligations and other post-retirement obligations The consolidated businesses have various plans for providing benefits to retired employees, including defined benefit and defined contribution pension and retirement plans. (in JPY millions) 2009 2008 Present value of unfunded obligations 18,024 20,728 Present value of funded obligations 42,804 47,355 Total present value of obligations 60,828 68,083 Fair value of plan assets (27,527) (35,276) Actuarial gains losses (3,690) 1,630 Recognized liability for defined benefit obligations 29,611 34,437 Total employee benefits 29,611 34,437 The Company contributes to different defined benefit plans that provide pension and medical benefits for employees upon retirement. These plans entitle a retired employee to receive a portion of his final salary for each year of service and to the reimbursement of certain medical costs. 80
FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED MARCH 31, 2009 26.2.2.Present value of the defined benefit obligations The movement of the present value is as follows: (in JPY millions) 2009 2008 Opening balance 68,083 88,134 Actuarial gains (6,359) (3,216) Current service costs and interest 3,970 4,330 Benefits paid by the plans (3,200) (3,757) Effect of exchange rates (1,671) (6,690) Plan participants' contributions (1,077) (1,084) Exit from consolidation scope - (5,977) Reclassification to held for sale - (2,249) Others 1,082 (1,408) Closing balance 60,828 68,083 26.2.3. Plan assets 26.2.3.1. Present value of plan assets The plan assets comprise : (in JPY millions) 2009 2008 Equity securities 13,230 20,689 Government bonds 6,679 10,468 Cash 3,639 1,920 Corporate bonds 2,997 794 Insurance contracts 982 1,073 Others - 332 Total 27,527 35,276 26.2.4. Expense recognized in profit or loss (in JPY millions) 2009 2008 Current service cost 1,118 1,380 Interest on obligation 2,852 3,328 Expected return on plan assets (2,421) (2,859) Others 399 (746) Total 1,948 1,103 The expense is recognized in the following line items in the income statement (in JPY millions) 2009 2008 Cost of sales 1,275 725 Selling, general and administrative expenses 673 378 Total 1,948 1,103 26.2.5. Principal actuarial assumptions at March 31 The weighted average rates utilized for the benefit obligations are as follows: 2009 2008 Discount rate 4.1 % 4.3 % Expected return on plan assets 3.3 % 3.8 % Future salary increases 2.7 % 2.6 % 26.2.3.2. Movement of plan assets (in JPY millions) 2009 2008 Opening balance 35,276 44,330 Expected return on plan assets (2,421) (2,859) Benefits paid by the plans (3,200) (3,757) Actuarial (gains) losses (1,969) 1,005 Contributions paid into the plans 2,154 2,336 Effect of exchange rates (849) (4,236) Exit from consolidation scope - (1,284) Others (1,464) (259) Closing balance 27,527 35,276 81
Page 1:
ANNUAL REPORT Year Ended March 31,
Page 5:
PART I LETTER TO SHAREHOLDERS AND B
Page 8 and 9:
Support to our portfolio companies
Page 10 and 11:
The evolution of the book value of
Page 12 and 13:
Consolidated Financial Statements F
Page 14 and 15:
Asahi Tec Corporation • Headquart
Page 16 and 17:
RHJI's purchase agreement to buy ce
Page 18 and 19:
Honsel International Technologies S
Page 20 and 21:
Niles Co., Ltd. • Headquarters: J
Page 22 and 23:
Columbia Music Entertainment, Inc.
Page 24 and 25:
Phoenix Resort K.K. • Headquarter
Page 26 and 27:
Shaklee Global Group, Inc. • Indu
Page 29 and 30:
PART II FINANCIAL STATEMENTS FOR TH
Page 31 and 32: FINANCIAL STATEMENTS FOR THE FISCAL
Page 81: FINANCIAL STATEMENTS FOR THE FISCAL
Page 107 and 108: PART III CORPORATE GOVERNANCE
Page 109 and 110: CORPORATE GOVERNANCE The Belgian Co
Page 111 and 112: CORPORATE GOVERNANCE The following
Page 113 and 114: CORPORATE GOVERNANCE (1997 to 2000)
Page 115 and 116: CORPORATE GOVERNANCE INVESTMENT AND
Page 117 and 118: CORPORATE GOVERNANCE Mr. Fischer ha
Page 119 and 120: CORPORATE GOVERNANCE OTHER TERMS RH
Page 121 and 122: CORPORATE GOVERNANCE STATUTORY AUDI
Page 123 and 124: CORPORATE GOVERNANCE 121
Page 125 and 126: PART IV SHAREHOLDERS’ INFORMATION
Page 127 and 128: SHAREHOLDERS’ INFORMATION SHARE P
Page 129 and 130: NOTES 127
Page 131 and 132: Co-ordination and Production : IPAC
show all

ANNUAL REPORT

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?