Brussels, 14 March 2024

PRESS RELEASE
Representatives of EFRAG and the Japanese Accounting andSustainability Boards Hold Meetings in Brussels
Representatives of EFRAG – Europe’s voice in Corporate Reporting and representativesof the Accounting Standards Board of Japan (ASBJ) and the Sustainability Standards
Board of Japan (SSBJ) (hereinafter referred to as “the Japanese Boards”) held meetingson 13-14 March 2024 in Brussels, Belgium.
Regarding sustainability reporting, meeting participants provided updates on theirrespective activities and exchanged views on items of mutual interest, includingalignment and interoperability with IFRS Sustainability Disclosure Standards (ISSBStandards.)
Regarding financial reporting, meeting participants provided updates on their respective
activities and exchanged views on the International Accounting Standards Board (IASB)’sIFRS accounting projects in which both parties have an interest, including climate-related
and other uncertainties in the Financial Statements, power purchase agreements andpost-implementation reviews of IFRS 9, IFRS 15 and IFRS 16.
EFRAG and the Japanese Boards plan to continue to exchange views on a regular basis.
Patrick de Cambourg, Chair of the EFRAG Sustainability Reporting Board, said:“Our discussions with the Japanese Boards have been insightful and constructive,emphasising the importance of interoperability with ISSB Standards in sustainability
reporting. This collaboration marks a significant step forward in enhancing global
reporting standards.”

Wolf Klinz, Chair of the EFRAG Financial Reporting Board, said:"The exchange of updates and views on IFRS accounting projects with the Japanese Boards
has been very valuable. Addressing climate-related uncertainties and enhancing financial
reporting standards are crucial for ensuring transparency and accountability in the global
financial landscape."
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Yasunobu Kawanishi, Chair of both the ASBJ and the SSBJ, said:“I would like to thank EFRAG for hosting this meeting in Brussels. I found this meetingvery meaningful to deepen our understanding of our respective activities concerning
both accounting standards and sustainability disclosure standards. We look forward tocontinuing this productive dialogue with EFRAG.”

Contacts:
Shuji Ito, Project Manager, Accounting Standards Board of Japan
Telephone: +81 (0)3 5510 2729
Email: sh.ito@asb-j.jp
Hana Murayama, Project Manager, Sustainability Standards Board of Japan
Telephone: +81 (0)3 5510 2718
Email: h.murayama@ssb-j.jp
Caroline Martins, EFRAG Communication Manager
Telephone +32 (0)2 207 93 00
Email: caroline.martins@efrag.org
About the Accounting Standards Board of Japan (ASBJ)
The Accounting Standards Board of Japan (ASBJ) was established in July 2001 under theFinancial Accounting Standards Foundation (FASF) and is a private-sector organisation.
Accounting standards developed by the ASBJ are to be authorised by the Financial
Services Agency (FSA) as part of Japanese generally accepted accounting principles.
The ASBJ develops accounting standards and implementation guidance thatappropriately reflect the environment in which business enterprises operate. The ASBJ
also communicates with corresponding organisations abroad and contributes to thedevelopment of global accounting standards. For more information about the ASBJ,
visit its website at https://www.asb-j.jp/en/

About the Sustainability Standards Board of Japan (SSBJ)The Sustainability Standards Board of Japan (SSBJ) was established in July 2022 under
the FASF and is a private-sector organisation. The legal framework for sustainability
disclosure standards is to be determined by the Financial Services Agency, and the SSBJ
will develop domestic standards in line with such framework, once it is established. TheSSBJ is a member of the Jurisdictional Working Group of the International Sustainability
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Standards Board (ISSB) and has been appointed as one of the inaugural members of theSustainability Standards Advisory Forum (SSAF).

For more information about the SSBJ,

visit its website at https://www.ssb-j.jp/en/

About EFRAG (https://www.efrag.org/ )EFRAG’s mission is to serve the European public interest in both financial andsustainability reporting by developing and promoting European views in the field ofcorporate reporting. EFRAG builds on and contributes to the progress in corporatereporting. In its sustainability reporting activities, EFRAG provides technical advice tothe European Commission in the form of draft European Sustainability ReportingStandards (ESRS) elaborated under a robust due process and supports the effective
implementation of ESRS. EFRAG seeks input from all stakeholders and obtains evidence
about specific European circumstances throughout the standard-setting process. Its
legitimacy is built on excellence, transparency, governance, due process, public
accountability and thought leadership. This enables EFRAG to speak convincingly,clearly, and consistently, and be recognised as the European voice in corporate
reporting and a contributor to global progress in corporate reporting.

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