Annual Report 2002 [PDF/1.6MB]

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5. PLEDGED ASSETSThe assets pledged as collateral for long-term debt and guarantees at March 31, 2002 were as follows:Investments in securitiesLand, buildings and structuresOthersMillions of Yen¥ 11,88926,4666,008Thousands ofU.S. Dollars$ 89,223198,61945,088Short-term borrowings and long-term debt secured by such collateral at March 31, 2002 were as follows:Short-term borrowingsLong-term debtMillions of Yen¥ 7,60020,143Thousands ofU.S. Dollars$ 57,036151,16741
6. ACCRUED RETIREMENT BENEFITSThe funded and accrued status of the retirement benefit plans of the Company and its domestic subsidiaries at March 31,2002 and 2001 are summarized as follows:Millions of Yen2002 2001Thousands ofU.S. Dollars2002Retirement benefit obligation¥ (60,779)¥ (52,913)$ (456,128)Fair value of plan assets25,54326,314191,693Unfunded retirement benefit obligation(35,236)(26,599)(264,435)Unrecognized net retirement benefit obligation at transition15,09816,385113,306Unrecognized actuarial gain or loss13,6944,807102,769Net retirement benefit obligation(6,444)(5,407)(48,360)Prepaid pension costs(26)Accrued retirement benefits reflected in the consolidatedbalance sheets¥ (6,444)¥ (5,433)$ (48,360)Note: Domestic subsidiaries have adopted a allowed alternative treatment of the accounting standards for retirementbenefits for small business entities.Retirement benefit costs of the Company and its domestic subsidiaries included the following components for the years endedMarch 31, 2002 and 2001.Millions of Yen2002 2001Thousands ofU.S. Dollars2002Service cost¥ 1,653¥ 2,125$ 12,405Interest cost1,7071,90912,811Expected return on plan assets(1,339)(1,646)(10,049)Amortization of net retirement benefit obligation at transition1,1813,4718,863Actuarial losses4453,340Net periodic benefit costs3,647¥ 5,859$ 27,370Assumption used in the accounting for the retirement benefit plans for the years ended March 31, 2002 and 2001 were asfollows:Method of attributing benefit to periods of serviceDiscount rateExpected rate of return on plan assetsAmortization period for net retirement benefitAmortization period for actuarial gain or lossStraight-line method2.4% for 2002 and 3.5% for 20015.3%Principally 15 years (some domestic subsidiariescharged to income in the year ended March 31,2001)Average remaining years of service perriod of theeligible employees from the following year42
Page 2 and 3: COMPANY PROFILEOriginally founded i
Page 5 and 6: BUSINESS ENVIRONMENTDuring the year
Page 7 and 8: position as a leading steel trader,
Page 9 and 10: REVIEWS OF OPERATIONSDOMESTIC STEEL
Page 11 and 12: Domestic SteelOverseas SteelTerre A
Page 27 and 28: All Domestic Kawasho Offices Acquir
Page 29 and 30: CONSOLIDATED BALANCE SHEETSKawasho
Page 31 and 32: CONSOLIDATED STATEMENTS OF OPERATIO
Page 33 and 34: CONSOLIDATED STATEMENTS OF CASH FLO
Page 35 and 36: NOTES TO CONSOLIDATED FINANCIAL STA
Page 37 and 38: 2. SUMMARY OF SIGNIFICANT ACCOUNTIN
Page 39: 4. SHORT-TERM BORROWINGS AND LONG-T
Page 43 and 44: 10. LEASE TRANSACTIONSFinance lease
Page 45 and 46: 11. DERIVATIVE FINANCIAL INSTRUMENT
Page 47 and 48: 12. SEGMENT INFORMATIONThe Companie
Page 49: JapanThousands of U.S. DollarsOther
Page 52 and 53: IndonesiaMiddle EastNorth AmericaJA
Page 54 and 55: COMPANY DATANameKAWASHO CORPORATION

Annual Report 2002 [PDF/1.6MB]

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