Business combinations:

Date recorded:

The Japanese standard-setter presented a paper stating that they believe that there are transactions where an acquirer cannot be identified. They accept that these situations may be rare but believe that there does need to be a standard for these situations. They believe that the 'fresh start' approach is not appropriate for these true merger situations. The treatment adopted affects the Japanese taxation system. The matter was discussed and issues such as the definition of these special circumstances were considered.

Correction list for hyphenation

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