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Pension Plans
 9 Months Ended
Dec. 31, 2011
Pension Plans
12. Pension Plans

The Company and certain subsidiaries have contributory and non-contributory pension plans covering substantially all of their employees. Those contributory funded pension plans include defined benefit pension plans and defined contribution pension plans. Under the plans, employees are entitled to lump-sum payments at the time of termination of their employment or pension payments. Defined benefit pension plans consist of a plan of which the amounts of such payments are determined on the basis of length of service and remuneration at the time of termination and a cash balance plan.

The Company and its subsidiaries’ funding policy is to contribute annually the amounts actuarially determined. Assets of the plans are invested primarily in interest-bearing securities and marketable equity securities.

Net pension cost of the plans for the nine months ended December 31, 2010 and 2011 consists of the following:

 

Three months ended Three months ended
     Millions of yen  
     Nine months ended
December 31, 2010		     Nine months ended
December 31, 2011		  

Service cost

    ¥ 2,330      ¥ 2,283   

Interest cost

      1,026        1,011   

Expected return on plan assets

      (1,525 )      (1,514 ) 

Amortization of transition obligation

      (3 )      42   

Amortization of net actuarial loss

      782        913   

Amortization of prior service credit

      (894 )      (895 ) 
  

 

 

    

 

 

  

Net periodic pension cost

    ¥ 1,716      ¥ 1,840   
  

 

 

    

 

 

  
    

Net pension cost of the plans for the three months ended December 31, 2010 and 2011 consists of the following:

 

Three months ended Three months ended
     Millions of yen  
     Three months ended
December 31, 2010		     Three months ended
December 31, 2011		  

Service cost

    ¥ 776      ¥ 761   

Interest cost

      340        336   

Expected return on plan assets

      (506 )      (504 ) 

Amortization of transition obligation

      (1 )      14   

Amortization of net actuarial loss

      260        304   

Amortization of prior service credit

      (298 )      (299 ) 
  

 

 

    

 

 

  

Net periodic pension cost

    ¥ 571      ¥ 612