In Japan it is common for Companies and social groups to hold parties called 忘年会 (ボウネンカイ/bounenkai). These forget the year parties are good opportunity for all members of organizations to mingle casually. Check out this Japan Talk article to read more about this unique aspect of Japanese culture.
The kanji in this word are all read with onyomi. 忘 (ボウ/bou) means to forget, the second kanji 年 (ネン/nen) means year, an the final kanji 会 means (カイ/kai) means meeting or party.