AR2017

72/90

17. Retirement BenefitsThe Company has defined benefit plans of a corporate pension fund plan under the Japanese Defined Benefit Corporate Pension Law and lump-sum payment plan.Domestic consolidated subsidiaries have lump-sum payment plans and certain foreign consolidated subsidiaries have defined contribution plans and lump-sum payment plans.The following summarizes information related to retirement benefits for the years ended March 31, 2017 and 2016. 1. Defined benefit plans(1) Reconciliation statement for the beginning balance and the ending balance of retirement benefit obligationsMillions of yen Thousands ofU.S. dollars201720162017Retirement benefit obligations at beginning of year¥36,549¥33,518$325,786Service cost1,7541,35215,641Interest cost1874261,670Actuarial gains (losses) (4)3,971(43)Retirement benefits paid(1,570)(1,390)(13,999)Abolishment of retirement benefit plan―(1,330)―Increase (decrease) from foreign currency translation(26)(46)(240)Other7548672Retirement benefit obligations at end of year¥36,965¥36,549$329,486Note: For some of the consolidated subsidiaries, the simplied method is used to calculate retirement benet obligations.(2) Reconciliation statement for the beginning balance and the ending balance of plan assetsMillions of yen Thousands ofU.S. dollars201720162017Plan assets at beginning of year¥25,073¥27,488$223,489Expected return on plan assets7267336,479Actuarial gains (losses)(239)(802)(2,134)Contributions from the employer5215364,649Retirement benefits paid(1,479)(1,336)(13,186)Abolishment of retirement benefit plan―(1,361)―Increase (decrease) from foreign currency translation―6―Other―(189)―Plan assets at end of year¥24,603¥25,073$219,297(3) Reconciliation statement for the ending balance of retirement benefit obligations and plan assets and net defined benefit liability or asset recorded in the consolidated financial statementsMillions of yen Thousands ofU.S. dollars201720162017Retirement benefit obligations of a funded pension plan¥ 36,244¥ 35,867$ 323,059Plan assets(24,603)(25,073)(219,297)11,64110,793103,761Retirement benefit obligations of an unfunded pension plan7216826,427Net amount of liabilities and assets recorded in the consolidated balance sheet¥ 12,362¥ 11,476$ 110,189Net defined benefit liability¥ 12,362¥ 11,476$ 110,189Net defined benefit asset―――Net amount of liabilities and assets recorded in the consolidated balance sheet¥ 12,362¥ 11,476$ 110,189LINTEC ANNUAL REPORT 201770FINANCIAL SECTION