NEWS RELEASE
12 July 2018

Representatives of the European Financial Reporting Advisory Group andthe Accounting Standards Board of Japan hold bilateral meeting
Representatives of the European Financial Reporting Advisory Group (EFRAG) and theAccounting Standards Board of Japan (ASBJ) (hereafter “both parties”) met on 11 July 2018,in Brussels, Belgium. This was the fourth formal bilateral meeting between both parties.
At this meeting, both parties provided updates on their respective activities, and exchanged
views on the opportunities for cooperation. As for the agendas regarding their respective
research activities, both parties discussed views on pensions, alternative measures for equity
instruments, virtual currencies and goodwill. Both parties also exchanged views on theInternational Accounting Standards Board (IASB)’s research projects, including financial
instruments with characteristics of equity, primary financial statements and principles ofdisclosure.
Both parties agreed to continue to exchange views. The next meeting is planned in 2019 inTokyo.
Andrew Watchman, EFRAG TEG Chairman and CEO, said, “We greatly value the enduringstrong relationship between EFRAG and the ASBJ. Dialogue with national standard settersbeyond Europe is a key driver of global harmonisation in financial reporting. This week’sbilateral discussions revealed that our organisations have similar views in many topical areasand have laid the ground for successful future collaboration.”
Yukio Ono, Chairman of the ASBJ, stated, “It was very meaningful for us to be able to develop
better understanding regarding issues of our interest and respective views on such issues
through the discussions in this meeting. I am convinced that productive discussions withEFRAG contribute to high-quality global financial reporting and look forward to future
opportunities for cooperation.”###Contacts:
Nami Yamaguchi, Project Manager, Accounting Standards Board of Japan
Telephone: +81.3.5510.2732
Email: n.yamaguchi@asb.or.jp
Lara Canto e Castro, Communication Manager, EFRAG
Telephone: +32 2 207 93 04
Email: lara.cantoecastro@efrag.org

About the Accounting Standards Board of Japan
The Accounting Standards Board of Japan (ASBJ) was established in July 2001 as a privatesector organization. Accounting standards developed by the ASBJ are to be authorized by theFinancial Services Agency as part of generally accepted accounting principles. The ASBJ
develops accounting standards and implementation guidance that appropriately reflect theenvironment in which business enterprises operate. The ASBJ also communicates withcorresponding organizations abroad and contributes to the development of global accounting
standards.
For more information about the ASBJ, visit its website at:https://www.asb.or.jp/en.

About the European Financial Reporting Advisory GroupThe European Financial Reporting Advisory Group, EFRAG, was set up principally for thepurpose of: Ensuring full participation of European stakeholders in the debate supporting thedevelopment of IFRS and expressing the European view throughout the IASB standardsetting process.
 Engaging European stakeholders in the analysis of and debate on emerging financial
reporting issues by stimulating, coordinating and carrying out proactive accounting
activities.
 Advising the European Commission on the acceptability of International Financial
Reporting Standards (IFRS) for endorsement for use in Europe in the consolidated
accounts of all listed companies.
For more information about EFRAG, visit its website at: https://www.efrag.org/.