Establishment of the Council for Accounting of Unlisted Companies
March 30, 2010
The Japan Chamber of Commerce and Industry, The Japan Federation of Certified Public Tax Accountants' Associations, The Nippon Keidanren (Japan Business Federation), The Accounting Standard Board of Japan (ASBJ) and the JICPA, announced, on February 25, the establishment of the "Council for Accounting of Unlisted Companies" (the "Council"), as a result of the cooperative effort of relevant stakeholders. The Council is expected to deliberate on a wide range of issues relating to accounting standards applicable to unlisted companies, giving consideration to the views that the impact of globalization on unlisted companies should be minimized or avoided in the context of promoting globalization of Japanese accounting standards.