IFRS Foundation Trustees and Japan's FASF strengthen cooperation

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25 May 2017

The IFRS Foundation Trustees and Japan’s Financial Accounting Standards Foundation (FASF) have issued a joint statement reaffirming their shared commitment to the objective of a single set of high quality, global accounting standards. The statement also describes how the two organisations will work together to support adoption of IFRS in Japan.

The statement was issued in conjunction with the meeting of the IFRS Foundation’s Trustees in Tokyo, Japan.

In Japan, listed companies have a choice of several sets of accounting standards. The use of IFRS has been permitted since 2010. Since then, 164 listed companies (30% of total market capitalisation) have already adopted or announced plans to adopt IFRS.

For more information, see the press release and joint statement on the IASB's website.

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