• Register
Return to: Home > News > Professional Bodies > News brief: Japan reiterates support for IFRS

News brief: Japan reiterates support for IFRS

Japan’s Financial Accounting Standards Foundation (FASF) and the IFRS Foundation trustees have in a statement reiterated their shared commitment in supporting companies to adopt IFRS in Japan.

Japanese listed companies can adopt IFRS on a voluntary basis since 2010. There are 164 listed companies in Japan who have either already adopted or declared their plans for adoption, according to the joint statement. These companies constitute 30% of the total market capitalisation of all listed companies in Japan.

The FASF and IFRS Foundation trustees organised a joint panel discussion – the Constructive Dialogue between financial statement preparers and investors. Discussions revealed that communication between financial statement preparers and investors has become more important than ever. The International Accounting Standards Board (IASB) who participated in discussion said that it will be focusing its efforts on better communication in financial reporting in the next few years.

The statement is accessible here.

Top Content

    Choosing the right location can have cast-iron benefits

    As Game of Thrones, one of the biggest television shows of all time, comes to an end, Joe Pickard looks at how tax incentives offered to television and film production companies help the wider economy.

    read more

    Primary financial statements: a game changer in reporting?

    International Accounting Standards Board chair Hans Hoogervorst delivered a speech at the Seminario International sobre NIIF y NIF, organised by the Consejo Mexicano de Normas de Información Financiera in Mexico. The Accountant presents the highlights.

    read more

    FASB readies standards for the netflix generation

    The US Financial Accounting Standards Board (FASB) has updated its accounting standard for entertainment, with a specific eye on keeping up to date with how episodic content, such as television programmes, is consumed in the modern world. Jonathan Minter reports.

    read more

    Brexit: why it takes two to tango

    Former TA editor Vincent Huck, now editor of Insurance Asset Risk, looks at why Brexit might unleash geopolitical intrigue in Europe’s accounting standard-setting scene – and why IFRS 17 will be an incredible source of opportunity for firms in the coming years.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.