Data on voluntary IFRS adoption in Japan
18 Sep 2015
The Tokyo Stock Exchange (TSE) has released data showing that 112 companies listed on the TSE, accounting for almost a quarter of the market capitalisation, have adopted or plan to adopt International Financial Reporting Standards (IFRS). In addition, nearly 200 further companies are actively considering adoption.
Since the issuance of 'Japan’s Modified International Standards (JMIS)' in June this year, there are four sets of accounting standards for consolidated financial statements in Japan: JMIS, designated IFRSs, Japanese GAAP, and US GAAP. On 30 June 2015, the Cabinet in Japan adopted a revised 'Japan Revitalisation Plan' that includes encouragement of further IFRSs adoption by Japanese companies to promote the nation's growth. The data released today takes stock and shows the number and market capitalisation of companies that have adopted IFRSs or plan to do so, IFRS adoption by industrial sector, scheduled adoption dates, and the stage of progress by companies considering IFRS adoption.
Please click to access the analysis on the TSE website.
