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September 30, 2010

ASBJ establishes stakeholder panel

Japan’s standard setter has established a panel to address the application of consolidated financial statements.

The panel will seek the consensus of high level stakeholders on how to address individual accounting standards as part of Japan’s convergence with IFRS.

The Accounting Standards Board of Japan (ASBJ) said it decided to set up the panel after a report by the Business Accounting Council suggested the approach.

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