Category Archives: Information

[Japan] Heisei to Reiwa – a new age for Japan

On the 1st of May 2019, Japan will be entering a new era. The arrival of the Reiwa era will, in turn, end the 30-year Heisei (‘achieving peace’) era, that been in place since 1989. The current Emperor Akihito’s elder … Continue reading

April featured business affairs

1. Accounting(The World’s Big Four Accounting Firms) In 2017 the world’s Big Four accounting firms were ranked by global network revenue as follows (dollars in millions): ・1st, DTT, $43,200, (Last year $38,800), an increase of 11.3% ・2nd, PwC, $41,280, (Last year $35,896), … Continue reading

[Japan] The overview of Japan economy 2019

According to the Bank of Japan’s December Tankan (Short-Term Economic Survey of Enterprises), large manufacturers’ overall assessment of business conditions was unchanged from September at +19, ending four quarters of decline. Current business conditions are surpass than last year’s expectation … Continue reading

[Japan] Japan to modernize its payment system

Personal stamps or Hanko are beginning to lose territory as a mandatory part of transactions in Japan. Hanko, also known as Inkan, became popular in Japan during the Edo Period, and was made mandatory for official documents in 1873. Even … Continue reading

March featured business affairs

1. Accounting(Trends of companies applying IFRS) As of November 2018, the number of Japanese companies applying IFRS reached 197. Companies newly listed under IFRS include SKYLARK HOLDINGS CO., LTD., KOMEDA HOLDINGS CO., LTD., LINE CORPORARTION, WORLD CO., LTD. Some companies decided … Continue reading

[Japan] Japans new departure tax

For the first time since 1992 Japan has introduced a new tax. This is called the international tourist tax and is set at 1,000 yen per passenger. It is calculated to bring in about 50 billion yen (~$500 million USD) … Continue reading

[Japan] Japanese economy trims 2019 growth forecast to 1.3%

Almost all central bank presidents in major countries said 2019 growth forecast of economy to be slowing down, it seems Japanese economy growth rate gets dull in 2019. In the end of last year’s forecast, which was served as the … Continue reading

February features business affairs

1. Accounting(Trends in accounting standards for financial instruments (Part3)) According to the current Japanese accounting standards, a receivable is required to be reported on the balance sheet with an acquisition cost or amortized cost less an allowance for bad debt. Also, … Continue reading

[Japan] Japans demographic challenge

Although many rich countries have demographic problems, Japan is now perhaps facing the world’s largest demographic challenge. Japan is already a “super-aged nation”, which means that more than 20% of the population is over 60 years old. Japan’s prime minister, … Continue reading

[Japan] Bank of Japan program maintains Japanese economy

Last Wednesday, The Bank of Japan (=BOJ) set down their infration forcast, however remain the stimulus program for maintaining current economy growing up ratio. BOJ governer Haruhiko Kuroda warning of growing risks to the economy from trade protectionism and faltering … Continue reading