Japan

Olympus Fraud Renews Focus on Corporate Governance

Yvette Chegwedden February 07, 2012

The accounting fraud at Olympus Corp. could serve as a catalyst to corporate governance reform in Japan, as a series of accounting scandals did here in the United States. According to an independent investigative report, the problems at Olympus stem from a "yes men" culture that is too common among Japanese companies and discourages whistleblowers from coming forward. Details inside.

Companies Struggle With Accounting for Disasters

Tammy Whitehouse April 12, 2011

Many companies are making their initial disclosures about how the events in Japan and political turmoil in Africa and the Middle East will affect their businesses. As "extraordinary" as those events may be, it's unlikely that any expected losses will qualify for extraordinary accounting treatment. Details inside.

Japan Targets Shorters of New Issue Shares

Neil Baker December 29, 2010

Japan is planning new rules to punish speculators who short-sell company shares in the gap between a new issue being announced and its pricing being confirmed. The rule, which will take effect in after April 2011, is aimed at reducing insider dealing.

Japan Securities Damages Hit Record Level

Global Glimpses August 09, 2010

The total damages awarded against Japanese companies for errors in their financial statements increased four-fold to a record 45.9bn yen last year, according to a new report.Economics consultancy Nera, which published the analysis, said the 2009 damages dwarfed the level recorded for 2008 – 9.9bn yen – and represented more...

Japan Lifts Veil on Exec Pay and Shareholder Votes

Global Glimpses February 24, 2010

Companies with a listing in Japan will have to disclose more information about their corporate governance practices and how much they pay directors under plans released by the country’s Financial Services Agency (FSA).The new disclosures are aimed at giving investors more of the information they need to hold companies to...

Japan Needs More Independent Directors, Report Says

Global Glimpses December 24, 2009

Japan’s corporate laws should be reformed to make the country’s rules on independent directors clearer, the Asian Corporate Governance Association says. The lobby group used a new position paper on governance reform to argue that Japan’s current legal definition of what constitutes an “outside director” is “weak and often confusing...

Japan Gives Green Light to IFRS Accounting

Global Glimpses December 14, 2009

0 false 18 pt 18 pt 0 0 false false false Japan’s Financial Services Agency has decided to let domestic companies use International Financial Reporting Standards beginning in March of next year, leaving the U.S. as the only major economy not using the global reporting rules in some form. The...

Japan Publishes Draft IFRS Roadmap

Global Glimpses February 24, 2009

Japan’s Financial Services Agency (FSA) has published a draft roadmap that could lead to mandatory use of International Financial Reporting Standards (IFRS) in the country.The regulator has proposed allowing some Japanese-listed companies to use IFRS on a voluntary basis from the financial year ending March 31, 2010. It would then...

Europe Extends IFRS Opt-Out for U.S. and Others

Global Glimpses December 16, 2008

The European Commission has extended a ruling that permits companies from the United States and five other countries to file accounts under their own national GAAPs, rather than having to use International Financial Reporting Standards, which are mandatory for European public companies.When the trading bloc made IFRS reporting mandatory for...

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