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Accounting(Change of corporate governance.)

By March 2, four companies announced their transition to a company with an “Audit and Supervisory Committee “. The purpose of the migration is “the further strengthening of the supervisory function of the Board of Directors to achieve a further improvement of corporate governance by appointing directors who have the voting rights as audit and supervisory commissioners” and so on. One company will make the transition on May 1 and the other three companies will migrate after obtaining approval at their ordinary general meetings of shareholders held in June.

In addition, Mitsubishi UFJ Financial Group announced its transition to a company with a Nominating Committee, etc. (this was originally called a “company with Committees”, the name was changed by the Amended Companies Act) from a company with a Board of Corporate Auditors. The purpose of the migration is to promote the further advancement of a corporate governance posture by the transition to a company with a Nominating Committee, etc. in forging ahead with evolution and reform as a global financial group. It will be placed before the shareholders’ meeting that will be held in June.(Souce:“Keiei Zaimu Magazine”No.3203)

2. Taxation (Statement of assets and liabilities.)

Under the new tax reform of 2015, a “List of assets and liabilities” will change its name to a “Statement of assets and liabilities” and a declaration of the location of the assets and the name of the securities will be required.The submission criteria are: (1) that the total income of a calendar year exceeds 20 million yen, and (2) that the total value of assets is 300 million yen or more or (3) that the total value of assets that are subject to exit tax (securities, etc.) is 100 million yen or more. (Source:“Zeimu Tsushin Magazine” No.3348)

3. Labor Management(Pre-employment Medical Record Checks and Withdrawal of Employment Offers.)

Can an employer require all the job applicants to submit their medical records at the time of their interviews? Or, can an employer dismiss an employee after formal hiring (or withdraw the employment offer itself) based on the grounds that the employee refused to submit his/her medical records to the company? An employer must be careful about applicants’ medical record checks because a person’s medical status and medical records are considered as information that requires careful handling. Although an employer has the right to freedom of hiring, it is very difficult for an employer to dismiss an employee (or withdraw an employment offer) due to the employee’s medical background.

Since a dismissal (or withdrawal of employment offer) is only permissible in cases where an employee causes an employer to misjudge the seriousness of the employee’s illness or the employee’s ability to perform duties at the time of hiring, employers need to be very careful when dismissing employees taking into consideration the effects of the employee’s illness.(Sendai High Court Judgment, the Case of Fukushima City Official.)

4. This Week’s Words of Wisdom

If you think that “I want to rest”, then your job is not right for you. The ideal job is something where work and rest are indistinguishable. (Donald Trump)

This is the difference between choosing a company or a career. It is nice if a company and a career can be matched, however it is almost impossible to find this kind of possibility in a Japanese company.

The referring page is Nagamine & Mishima JC Accounting K.K.

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