ASBJ Project Plan

(Attachment)- Items related to convergence Project Items

Before3Q of2006

October-2006
2007

2006
4Q

1Q

2Q

Remarks
3Q

4Q

Project status
as of January
2008

(DP)

I, possibly II

Supplementary comments<Items advised by CESR for EU equivalence assessment purpose>(Note2)
Business combinations-(1/2)（Pooling-of-interest method）
Scope of consolidation-(1/2)(Enhanced disclosure of SPEs)
2-S
Scope of consolidation-(2/2)(Consolidation of SPEs)
Uniformity of accounting
3-S
policies(Oversea subsidiaries)
Share-based payments
4-B/（Expense recognition/
13-A
Explanatory notes）
Business combinations-(2/2)
Note3（Others）

PT

1-STC

ED

9-B

Inventories（Valuation method）
Uniformity of accounting
policies (Associates)

Final

III

ASBJ will deliberate for DP after RR isissued.
-II

ASBJ will deliberate consideringdevelopments at IASB/FASB.

Final

III

PITF No.18 was issued in May 2006.

Final

III

Accounting Standard No.8 was issued inDecember 2005.

DPPT

RR

(DP)

PT

Inventories (LIFO)
8-B

RR

Final

10-B/
23-A

Impairments of fixed assets

11-B

Intangibles (includingR&D expenses)

WG

ASBJ will deliberate for DP after RR isissued.
ASBJ will conclude a tentative decision
Iwithin 2007.
Accounting Standard No.9 was issued inIII
July 2006.
ASBJ will deliberate ED considering
I, possibly II
developments at PT.

I, possibly IIPT

(ED)

PT

RR

I

DP

II

ASBJ will deliberate considering RR anddevelopments at IASB/FASB.
ASBJ will deliberate consideringdevelopments at IASB/FASB.

17-A

Construction contracts

WGTC

ED

Final

III

-

19-A/
24-A

Asset retirement obligations

WGTCED

Final

III-

20-A

Retirement benefits

22-A

Disclosure of FV informationof financial instruments

WG

25-A

Investment property

PTPTITCEDFinal

ASBJ will deliberate consideringdevelopments at IASB/FASB.

III-I

ASBJ will continue its deliberationconsidering developments at IASB/FASB.

<Other major projects>
Segment reporting

WG

TC

Related party disclosures

EDFinalLeases

ED#1

ED#2

Retrospective restatements

PT

Quarterly financial reporting

ED

Final

FinalDPED

Final(Note1)
The following illustrates definitions of abbreviations in the project plan.
For "Project Items" column:
S : Supplementary statements
B : Disclosure B（Quantitative disclosures）
A : Disclosure A （Additional narrative and/or quantitative disclosures ）For "Project status as of January 2008"column:
III ： Project to be finalized by January 2008.
II ： Project to be in the deliberating process towards finalization at the Board.
I： Project to be in the deliberating process at PT/WG Level towards next steps.

For "2006/ 2007" column:
PT : Project Team to be established.
WG: Working Group to be established.
TC : Technical Committee to be established.
RR : Research Report to be issued.
DP : Discussion Paper to be issued.
ED : Exposure Draft to be issued.
Final: Accounting Standard/Guidance, etc.

(Note2)12-B Agriculture, 16-A Insurance contracts (Catastrophic provisions), 18-A Non-performing loans, and 26 Financial Instruments, which are required remedies in theTechnical Advice by the CESR, are not included this Project Plan.
(Note3)The project "Business combinations-2/2(others)" includes issues for "Date of exchange(5-B)", "Capitalization of acquired R&D in process(6-B)", "Negative goodwill(7B)", "Minority interests at historical cost(14-A）", "Step acquisitions(15-A）", and "Translation of goodwill(21-A)".