🌸Japanese Customer : Japanese customers see rise in unfunded pension liabilities rise

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May 26, 2011

Japanese customers see rise in unfunded pension liabilities rise

“Japan Airlines Corp.'s $25.5 billion bankruptcy may be the impetus for such companies as Hitachi Ltd. and Toyota Motor Corp., Japan's biggest private employers, to shore up their deficit-ridden pension plans. Japan's top 278 companies were a combined ¥21.5 trillion behind on their pension funding in fiscal 2009, a 50 percent jump from the previous year, according to Daiwa Institute of Research in Tokyo. Hitachi's unfunded liabilities totaled ¥1.1 trillion — triple the deficit that helped push Japan's former national carrier into bankruptcy.”


Source: JAL may spark major revamp in pension finance
Change critical if other firms to avoid carrier's underfunded fate
By JASON CLENFIELD and TOMOKO YAMAZAKI
Bloomberg
Friday, Jan. 22, 2010
http://search.japantimes.co.jp/cgi-bin/nb20100122n3.html