Japan

ASBJ appointments announced

20 Mar 2013

The Financial Accounting Standards Foundation (FASF) of Japan has announced the appointment and reappointment of 13 members of the Accounting Standards Board of Japan (ASBJ) for a three year term.

The new appointments are:

  • Atsushi Kogasaka (Vice Chair), Partner, Deloitte Touche Tohmatsu LLC and technical director of the ASBJ
  • Tomokazu Sekiguchi, technical manager of the ASBJ
  • Yasuyuki Fuchita, Nomura Institute of Capital Markets Research
  • Hisayoshi Masawaki, Sumitomo Mitsui Banking Corporation
  • Kazuyuki Masu, Mitsubishi Corporation
  • Yoshihiro Tokuga, Dean and Professor of the Graduate School of Management at Kyoto University
  • Hitoshi Watanabe, Nippon Life Insurance Co.
  • Yukio Ono, Partner and Chairman of the Board, Deloitte Touche Tohmatsu LLC.

All appointments are effective from 1 April 2013, with the exception of Yukio Ono, whose appointment is effective 1 October 2013.

In addition, the following people have been reappointed: Takehiro Arai (Vice Chair), Aiko Sekine, Katsuhito Yanagibashi and Minoru Yoshida. The current term of the remaining ASBJ member and chairman, Ikuo Nishikawa, commenced on 1 April 2012 and continues to 31 March 2014.

Click for FASF press release (link to ASBJ website)

Japan proposes to 'designate' additional IFRSs

31 Mar 2012

On 23 March 2012, the Financial Services Agency (FSA) of Japan proposed additional IFRS to be designated for use by companies voluntarily applying IFRSs in Japan.

The proposal intends to add all IFRSs (including amendments) released between 1 January and 31 December 2011 to the list of 'designated IFRSs'.

Such IFRSs include:

Public comments on the proposal are due by 23 April 2012.  The proposal is available on the FSA website (in Japanese).

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