Issued July 7, 2008 (No.3)

Contents
1.

Development of ASBJ Standards (April 2008 – May 2008)

2.

Overview of ASBJ Meetings (150th meeting - 153rd meeting)

3.

ASBJ’s Comments on the Documents issued by the IASB and the FASB (April 2008 - May
2008)

4.

The 7th Joint Meeting with the IASB

5.

Roundtable meeting with IASB Chairman Sir David Tweedie and Japanese Constituents6.

IASB/ASBJ Special Joint Seminar “Convergence of Accounting Standards: the Achievement
and the Future”

7.

The 5th Regular Meeting with the FASB to Discuss Global Convergence

8.

Roundtable Meeting with FASB Board Members and Japanese Constituents

9.

ASBJ Chairman Ikuo Nishikawa and Standing Board Member Takehiro Arai makepresentations in Special Seminar : ASBJ Activities toward Convergence hosted by KASB

10. FASF Managing Director Hiroshi Endo and ASBJ Standing Board Member Takehiro Araimake presentations in a Seminar at Dongbei University of Finance and Economics
11. FASF Seminar “Points to Consider when Preparing a Securities Report (to be submitted foryear ending March 31, 2008)”
12. Progress of Projects (As of June 1, 2008)
13. Notices

1. Development of ASBJ Standards (released between April 2008 and May 2008)
1) [Final] Announcement of Guidance on Determining a Subsidiaries and an Affiliate (ASBJ
Implementation Guidance No.22) (May 13, 2008)[Legend]
DP: Issue Paper, Discussion Paper
ED: Exposure Draft
Final: Statement/Guidance, etc. (final version)pg. 1
Copyright© ASBJ/FASF All Rights Reserved.

2. Overview of ASBJ Meetings (150th meeting - 153rd meeting)1） 150th Meeting (held on April 18, 2008)a.

Progress of Studies conducted by Technical Committee for Special Purpose Entitiesb.

Progress of Studies conducted by Intangible Assets Technical Committeec.

Progress of Studies conducted by Technical Committee for Business Combinationsd.

Progress of Studies conducted by Technical Committee for Investment Propertye.

Progress of Studies conducted by Technical Committee for Retrospective Applicationf.

Progress of Studies conducted by Working Group for Liabilities and Equity Distinctions

a. The Board discussed the final draft text of the final guidance in the lead up to the resolution to bemade at the 151st Board meeting.
b. The Board discussed capitalization in-process research and development project (in-processR&D) acquired in a business combination. However, given that it encompasses issues including
other intangible assets in general, careful examination is required upon revising the provisions.
c. The Board discussed the method of determining the acquiring entity.

When determining theacquiring entity, i) the size of portion of voting rights, ii) the existence of shareholders with a larger
portion of voting rights, iii) the existence of shareholders capable of electing/dismissing directors,iv) organization of the board of directors, v) conditions of exchange of shares and other suchelements must be taken into consideration in a comprehensive manner.
d. The Board discussed the scope and definition of investment property.

The staff has

recommended that property classified as “investment property” in the balance sheet and leased
property to be subject to the standard.
e. The Board discussed the draft text of the Issue Paper outlining the essential issues to develop
accounting standards. Some board members have objected to propose disclosures that are notrequired under international accounting standards.
f. The Board discussed the draft comments on the “Preliminary Views on Financial Instrumentswith Characteristics of Equity” released to the public by the U.S. Financial Accounting Standard
Board (FASB).
2） 151st Meeting (held on May 2, 2008)a.

ASBJ Guidance “Guidance on Determining a subsidiary and an affiliate” [Resolution for public
release]b.

Progress of Studies conducted by Technical Committee for Business Combinationsc.

Progress of Studies conducted by Intangible Assets Technical Committeed.

Progress of Studies conducted by Technical Committee for Investment Propertye.

Progress of Studies conducted by Technical Committee for Retrospective Applicationa. The Board approved the release of a new guidance on determining the scope of subsidiaries andaffiliates reflecting the section concerning accounting treatment in the Japanese Institute ofCertified Public Accountants (JICPA) Auditing Committee Report No. 60 “Audit Treatment to
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Determine the Scope of Subsidiaries and Associates in Consolidated Financial Statements”. No
major changes have been made to the Exposure Draft; the so-called venture capital clause has beenclarified.
b. The Board discussed the accounting for negative goodwill, measurement of minority interest andaccounting for step acquisition.
c. The Staff presented the draft text of the exposure draft amendment of Accounting Standards for
Business Combinations reflecting the discussions in the Intangible Assets Technical Committee,
and the Board discussed it.
d. The Board discussed the draft text of the exposure draft with respect to the reasons for disclosureof fair value, definition/scope, notes, valuation method and significance.
e. The draft text of the Issue Paper discussed, that changes in the depreciation method are treated aschanges in the accounting policies, and it was difficult to distinguish between changes inaccounting policies and changes in accounting estimates. The Board discussed the view of notallowing retrospective application of changes in depreciation method similar to change inaccounting estimates.
3） 152nd Meeting (held on May 15, 2008)a.

Progress of Studies conducted by Technical Committee for Business Combinationsb.

Progress of Studies conducted by Intangible Assets Technical Committeec.

Progress of Studies conducted by Technical Committee for Retrospective Applicationd.

Progress of Studies conducted by Technical Committee for Investment Propertye.

Issues on Guidance on Disclosures about Certain Special Purpose Entities in Quarterly Financial
Statements

a. The Board discussed so-called step acquisitions in cases where an affiliate became a subsidiary.
If the acquired company was an affiliate of the acquiring company before the acquiring company
gained control of the acquired company, the nature of its business investment remains unchanged
even after it gained control and its investment is deemed to be ongoing.

Accordingly, the draft

text of the exposure draft proposes that an acquisition cost is the sum of the appropriate book value
immediately before the acquiring company gained control of the acquired company and the fairvalue of the transaction that enabled the acquiring company to gain control of the acquiredcompany.
b. The Board discussed the draft text of the exposure draft with the view of capitalizing in-process
R&D acquired in a business combination as “intangible assets that are separable and transferrable”.
c. In regards to the issues concerning disclosure, some Board members suggested that the benefit
and cost should be considered in terms of the workload imposed on companies relative to theinformation obtained.
d. The draft text of the exposure draft was clarified that in cases where the fair value of leased
property is disclosed in consolidated financial statements, property leased within the consolidated
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group does not meet leased property in the consolidated balance sheet.
e. As the Guidance lacked provisions of disclosure in note to quarterly financial statements, thestaff was adding such provisions to clarify their treatment.
4） 153rd Meeting (held on May 30, 2008)a.

Progress of Studies conducted by Technical Committee for Retrospective Applicationb. Progress of Studies conducted by Technical Committee for Business Combinationsc.

Progress of Studies conducted by Intangible Assets Technical Committee

d. Progress of Studies conducted by Technical Committee for Investment Propertye.

Progress of Studies conducted by Segment Reporting Technical Committeef.

Progress of Studies conducted by Technical Committee for Special Purpose Entities

g. Studies on IASB Discussion Papers; Reducing Complexity in Reporting Financial Instruments
a. The Board discussed the draft text of the Issue Paper in the lead up to the resolution to be madeto release the Issue Paper to the public at the 154th Board meeting. In response to suggestions madein the past Board meetings that there are too many disclosure items, some disclosure requirements
have been relaxed. The Board considered inviting public comments until mid-September, giving
slightly more time than usual.
b. through d. The Board discussed each draft text of the exposure drafts in succession to theprevious meeting in the lead up to the public release of the exposure drafts in June.
e. The Board discussed the disclosure of segment information in quarterly financial statements.
Some Board members suggested that disclosure items should be considered so that disclosure
would be feasible in actual practice within the time constraints, given that there are only 45 days
until quarterly disclosure.
f. The revision of the Guidance consists of a correction aimed at confirming the existing treatment;
accordingly, the Board expected to approve the revised Guidance at the 154th Board meeting
without going through the Exposure Draft phase.
g. The Technical Committee for Financial Instruments will conduct studies on IASB/FASB’s
Discussion Paper Reducing Complexity in Reporting Financial Instruments and will look into
future approaches.

3. ASBJ’s Comments on Documents issued by the IASB and the FASB (April
2008 - May 2008)
1) The ASBJ submitted Comments on International Financial Reporting Interpretations Committee(IFRIC)’s D24 “Customer Contributions” on April 17, 2008.
(Click here for overview of the IFRIC D24 “Customer Contributions”)

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2) The ASBJ submitted Comments on IFRIC Draft Interpretation D23 “Distributions of Non-cash
Assets to Owners” on April 25, 2008.
(Click here for overview of the IFRIC Draft Interpretation D23 “Distributions of Non-cash Assets
to Owners”)
3) The ASBJ submitted Comments on “Preliminary Views on Financial Instruments with
Characteristics of Equity” on May 30, 2008.
(Click here for overview of “Preliminary Views on Financial Instruments with Characteristics ofEquity”)

4. The 7th Joint Meeting with the IASB
The Accounting Standards Board of Japan (ASBJ) and the IASB held the 7th joint meeting inTokyo for two days, on April 8 and 9, 2008. Six ASBJ members including ASBJ Chairman Ikuo
Nishikawa and ASBJ staff as well as three IASB Board members including IASB Chairman Sir
David Tweedie and IASB staff participated in the meeting. This meeting was convened insuccession to the 6th joint meeting held in London in September 2007.
The schedule and agenda of the meeting were as follows:
Time/Date
Agenda
1. Overall updates
・ Updates on the ASBJ’s activities (Convergence activities according to the Project
Plan)
April 8・ Updates on the IASB’s activities ( Progress of MoU items and major projects
AM
addressed by the IASB)
2. Specific projects (1)・ Consolidation
3. Specific projects (2)・ Revenue recognition
April 8・ Insurance contracts: Interaction with Revenue recognition and Liabilities projectPM・ Financial statement presentation
April 94. Specific projects (3)AM・ Liabilities and equity distinctions
In the update on the ASBJ’s activities, the ASBJ reported its activities according to the Project Planannounced in December 2007, including the recent development of accounting standards. The ASBJ
and the IASB confirmed that the convergence project to eliminate major differences between Japan’s
generally accepted accounting principles (GAAP) and the current International Financial ReportingStandards (IFRSs) (as defined by the assessment of equivalence conducted by the Committee ofEuropean Securities Regulators (CESR) in July 2005) by the end of 2008 is progressing in line withthe project plan.
In the update on the IASB’s activities, the IASB explained that in response to many countries

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planning to adopt IFRSs in 2011, at the joint
meeting between the IASB and the FASB in late
April, will consider accelerating to address thedescribed

items

in

the

Memorandumof

Understanding (MoU), and the latest MoU might
be announced in the future. The IASB also
reported the progress of the IASB’s projects
according to their work plan.
Discussions on specific projects were held inopen for public observation. The ASBJ and the IASB discussed the following issues:- Consolidation; the concept of control, the application of the concept of control to securitizationand the enhancement of disclosure- Revenue recognition; the purpose of the project, unit/timing of revenue recognition and releasefrom risk of investments- Insurance contracts; interaction with revenue recognition and liabilities project- Financial statement presentation; the allocationof income tax and net income- Liabilities and equity distinctions; “Preliminary
Views

on

Financial

Instruments

withCharacteristics of Equity” issued by the FASB inlast November
The ASBJ and the IASB also exchanged views on
the recent international credit crisis.

5. Roundtable Meeting with IASB Chairman Sir David Tweedie and JapaneseConstituents
In conjunction with the 7th joint meeting with
the IASB, a roundtable meeting with IASB
Chairman Sir David Tweedie, hosted by the
ASBJ, was held at the Imperial Hotel (Tokyo)
on April 9, with the aim of deepening mutual
understanding on recent developments of
IFRSs between Japanese constituents, who are
involved in accounting system as government
officials, executives, auditors and academics,
and the IASB members. Despite the early-morning start, more than 30 people participated in themeeting.

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The meeting started off with Chairman Tweedie’s presentation titled “Worldwide Adoption of
IFRSs”, summarizing the recent developments in
IFRSs and the progress of the IASB’s activities.
This was followed by an active Q&A session.
The participants’ questions included commentson the IASB projects, such as financial statement
presentation and consolidation, and requests ofthe expansion of the IASB’s board members.
Chairman Tweedie responded to them in detail.
The entire meeting was conducted in an active
and enthusiastic atmosphere, facilitating fruitful discussions between the IASB and the participants.

6. IASB/ASBJ Special Joint Seminar “Convergence of Accounting Standards:
the Achievement and the Future”
The IASB and the ASBJ held a joint seminar titled “Convergence of Accounting Standards: theAchievement and the Future” sponsored by the JICPA Kinki Chapter at Hotel Hankyu International
in Osaka on April 10, the day after the roundtable meeting was held with constituents in Tokyo in
conjunction with the 7th joint meeting.
The Seminar was aimed at providing an occasion for people outside the Tokyo metropolitan area,
who have less opportunities compared to those in Tokyo, to access firsthand information and gain
better understanding of issues concerning the convergence of international accounting standards,
featuring the lectures by chairmen of the IASB and the ASBJ.
The Seminar consisted of two parts: Part 1 was led by the IASB, and Part 2 by the ASBJ.
Program

9Part 1Worldwide adoption of IFRSs
Sir David Tweedie, Chairman of the IASB

9Technical Update
Tatsumi Yamada, Board Member of the IASB

9Part 2

ASBJ’s Activities towards convergence
Ikuo Nishikawa, Chairman of the ASBJ

9

Recent Developments of the ASBJ
Shigeo Sakase, Vice Chairman of the ASBJ

Although the weather was not favorable, more than 150 people participated in the Seminar,
including those coming from Kyushu and Shikoku. The Seminar started with opening remarks by
Hiroshi Endo, Managing Director of the Financial Accounting Standards Foundation (FASF),
followed by a presentation of the speakers in each part.
In Part 1, Sir David Tweedie, Chairman of the IASB explained the worldwide adoption of IFRSs,
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Copyright© ASBJ/FASF All Rights Reserved.

the outline of the joint projects with the U.S. FASB, and recent
developments in the U.S., among other issues. His presentation
was followed by Tatsumi Yamada, Board Member of the IASB,
explaining the projects currently underway, especially the statusof progress in technical aspects and the outline of future plans.
In Part 2, Ikuo Nishikawa, Chairman of the ASBJ, presented asummaryof

ASBJ’sactivities

towards

convergence of accounting standards, while
Shigeo Sakase, Vice Chairman of the ASBJ,
explained the outline and progress of individual
projects, future plans among other issues.
After the presentations, an active Q&A session
was held between the presenters and the audience on such topics as financial statement presentationand the significance of convergence. The seminar ended in a lively and enthusiastic mood.

7. The 5th Regular Meeting with the FASB to Discuss Global Convergence
The ASBJ and the FASB held their 5th regular meeting to discuss global convergence in Tokyo
over a two-day period from May 26 to May 27. Representatives of the ASBJ, including Chairman
Ikuo Nishikawa, and representatives of the FASB, including Chairman Robert H. Herz, attended themeeting. Tatsumi Yamada, Board Member of the IASB, also participated in the meeting as anobserver.
The schedule and agenda of the meeting were as follows.
AgendaDescription
FASB Updates
FASB’s strategy towards global convergence (including the revisionof FASB/IASB’s memorandum of understanding (MoU))
International credit
Standard-setters’ response to the credit crisis
May 26
crisisAM
ASBJ Updates
Efforts towards convergence according to the Project Plan
Consolidation
Concept of control, disclosure enhancements (focusing on IASB’s(incl. SPE)
discussions)
Revenue
FASB/IASB’s revenue recognition project
May 26 recognition
PM
Financial statement
Allocation of income taxes and the presentation of net incomepresentation
May 27 Distinguishing
ASBJ’s draft comments on the FASB’s “Preliminary Views on
AMliabilities and equity Financial Instruments with Characteristics of Equity”
The next regular meeting with the FASB is scheduled to be held in October 2008 in Norwalk(USA).

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8. Roundtable Meeting with FASB Board Members and Japanese Constituents
On May 27, the ASBJ hosted a roundtable meeting at the Imperial Hotel in Tokyo, inviting Robert
H. Herz, Chairman of the FASB, and G. Michael Crooch, Board Member of the FASB, who werevisiting Japan to have a regular meeting with the ASBJ to discuss global convergence.
Approximately 30 constituents involved in the Japanese accounting system attended this meeting.
The meeting started with opening remarks by
Ikuo Nishikawa, Chairman of the ASBJ,
followed by FASB Chairman Herz and Mr.
Crooch’s presentation. In the subsequentinteractive session, an active Q&A session andexchanges of views included issues regarding
the readiness in the U.S. for adopting IFRSs
and the current status of each convergenceproject between the FASB and the IASB.
Contents of the presentation made by FASB Board members were as follows.
“A U.S. Perspective on International Convergence of Accounting Standards”
9 Why is the U.S. Interested in International Convergence?
9 Official U.S. Encouragement for International Standards and Convergence
9 Possible Paths to a Single Set of Global Accounting Standards
9 Toward a Single Set of Global Standards : The Pace of Convergence is Accelerating
9 Challenges to Achieving Global Standards
9 What is Needed to Achieve a Truly Global
Reporting System?
9 What is Needed Internationally?
9 What is Needed in the U.S.?
9 FASB and FAF Support a Single Set
of High-Quality International Standards
9 Current Status of the U.S. Convergence
Program
9 Completing the MoU
9 Summarypg. 9
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9. ASBJ Chairman Ikuo Nishikawa and Standing Board Member Takehiro Araimake Presentations in Special Seminar: ASBJ Activities toward Convergence
hosted by the KASBOn April 24, Ikuo Nishikawa, Chairman of the ASBJ, and Takehiro Arai, Standing Board Memberof the ASBJ, attended a special seminar titled “ASBJ Activities toward Convergence” held in Seoul,
invited by the Korea Accounting Standards Board (KASB).
Chungwoo Suh, Chairman of the KASB, gave an opening remarks, in which he explained South
Korea’s recent approach, including South Korea becoming one of the countries that fully adopt
IFRSs and issuing the full text of IFRSs translated into Hangeul in December 2007, and stated that
it would be extremely beneficial to understand the situation in Japan where convergence ofaccounting standards is accelerating.
Subsequently, Chairman Nishikawa explained the reforms of Japan’s accounting system since thelate 1990s, ASBJ’s basic stance on convergence, and the background to and the description of the“Tokyo Agreement” reached with IASB last August. Mr. Arai
explained the developments of accounting standards especiallyfor short-term convergence items as defined by the assessmentof equivalence in EU (Construction contracts, Disclosure of fairvalue of financial instruments, Uniformity of accounting policies
among associates, Asset retirement obligations, Retirement
benefits (discount rate), Inventories (last in, first out (LIFO)),
Business combinations, Intangibles, Investment property, etc.) inline with the Project Plan released last December.
Following the explanation, KASB Board Members Soon-Suk Yoon and Sung-NamKim appeared
as commentators, evaluated the efforts made by Japan to accelerate the convergence and held a
Q&A session. The Q&A session attracted a wide range of questions from the audience including
those at the implementation level. Such as “What kind of role does Japan intend to play amid theacceleration of convergence of accounting standards?” “Will Japan retain the right of interpretationeven after the convergence of accounting standards is completed?” “How are users and preparers
involved in the process of developing accounting standards in Japan?” “With respect to small andmedium-sized entities (SMEs), is Japan considering introducing IFRSs for SMEs?” “How areoverseas subsidiaries that adopt IFRS treated in consolidated financial statements under Japanese
GAAP?” etc. These questions and comments reflected their strong interest in Japan’s efforts.

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10. FASF Managing Director Hiroshi Endo and ASBJ Standing Board Member
Takehiro Arai make Presentations in a Seminar at Dongbei University of
Finance and Economics
On April 29, Hiroshi Endo, Managing Director of the FASF, and Takehiro Arai, Standing Board
Member of the ASBJ, made a presentation titled “Japan’s Activities toward the Global Convergenceof Accounting Standards” in a seminar at Dongbei University of Finance and Economics in Dalian,
China. They explained the profile of the FASF and the ASBJ, changes in the environment
surrounding the ASBJ, developments in IFRSs and the U.S., the ASBJ’s basic stance, and the
ASBJ’s activities, among other things.
More than 100 people attended the seminar including lecturers and graduate school students of
Dongbei University of Finance and Economics, and eagerly listened to their presentations. In thesubsequent Q&A session, questions were asked about issues including the latest situations of the 26
items defined in the Japanese GAAP by the assessment of equivalence conducted by the CESR, thedifference between the equivalence assessment and convergence, the provisions on fair value
measurement in Japan, and the treatment of pooling-of-interest method. It is believed that thisseminar has contributed to introducing the current status of Japanese accounting affairs to theChinese people.

11. FASF Seminar “Points to Consider when Preparing a Securities Report (to besubmitted for year ending March 31, 2008)”
The FASF held an annual seminar for preparers on “Points to Consider When Preparing a
Securities Report (to be submitted for the year ending March 31, 2008)”. The FASF also invited aspeaker from the Corporate Accounting and Disclosure Division of the Planning and Coordination
Bureau of the Financial Services Agency to give a lecture on “Recent
development in the disclosure system”.
The seminar was held in 11 sessions in 9 prefectures all over Japan,i.e., in Tokyo (three sessions), Osaka, Kanazawa, Nagoya, Fukuoka,
Hiroshima, Sendai, Takamatsu and Sapporo, commencing on April 2.
The number of seminar participants exceeded 3,200 in total,
evidencing the strong interest among the constituents in thedisclosure system.

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12. Progress of Projects (related to convergence)
2007
Q4

As of June 1, 2008
2008

Q1

Q2

2009
Q3

Q4

H1

H2

1. Items advised by CESR for EU equivalence assessment purpose (short-term)
Business combinations (STEP 1)(Pooling-of-interest method)

RR/DP(Others)

RR/DP

Inventories (LIFO)

ED
ED
ED

Uniformity of accounting policies(Associates)

ED

Final
Final
Final

Final

Fixed assets (impairment)
Intangibles (R&D expenses)

DP

Construction contracts

Final

Asset retirement obligations
Retirement

benefitsED(discount

Financial instruments (disclosure

Final

Final
ED

rate, etc.)

Final

Final

of fair value)
Investment property

ED

TC

ED

Final

2. Items concerning differences between Japanese GAAP and IFRSs except above (medium-term)
Segment reporting

Final

Business combinations (STEP 2)(Issues for phase 2)

ED(Amortization of goodwill)

ED

Retrospective restatement(Changeinaccounting

policy)(Depreciation method)(Discontinued

DP

ED

Final

DP

ED

Final

operations,etc.)
3. Items related to MOU between IASB and FASB (medium and long-term)
Scope of consolidation

DP

Financial statement presentation

TC

DP

Revenue recognitionTC

DP

Liabilities and equity distinctions

WG(report of business performance)

Financial instruments (review ofDPexisting standards)[Legend]
WG

Launch of Working GroupTC

Launch of Technical Committee

RR

Research Report

DP

Issue Paper, Discussion PaperED

Exposure Draft

Final

Standards/Guidance (Final Version)

Italicized legends indicate finished events.

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13. Notices
1) IASCF Chairman Gerrit Zalm visits JapanOn June 3 and 4, Gerrit Zalm, Chairman of the International Accounting Standards Committee
Foundation (IASCF), visited Japan. The IASCF is an organization to support and monitor the IASB.
During his stay in Japan, Chairman Zalm was vigorously engaged in activities including meetingwith Toshitaka Hagiwara, President of the FASF, and other prominent parties individually andattending a party with market constituents.
The details will be reported in the next issue of this Newsletter.

2) Periodicals and Other Publications
Quarterly journal “Accounting Standards Quarterly” Issue No. 21[Main contents]
9

Featured Article 1: Release of “Accounting Standard for Asset Retirement Obligations andGuidance on Accounting Standard for Asset Retirement Obligations” … An explanation
provided by the ASBJ, in addition to a commentary from the viewpoint of users of financial
statements and auditors

9

Featured Article 2: IASB/IASCF in the Global Convergence … An explanation of recent
developments in IASB/IASCF with reference to the script of the presentation by Sir David
Tweedie, Chairman of the IASB, at the Osaka seminar, and an interview with Aki Fujinuma,
Trustee of the IASCF.

9

Accounting Square: Accounting Standards and Analysts … Yukio Suzuki, Chairman of
Security Analysts Association of Japan (SAAJ)

9

CFO Letter: What Accounting Divisions are Required to Do Now… Seiichiro Suzuki,
Representative Director & Senior Executive Officer of Mitsubishi Estate Co., Ltd.

This publication is Japanese only and can be purchased through our website.

3) ASBJ Webcast Service
The ASBJ will launch a video distribution service over the internet (webcast) in addition to theexisting forums for public observation, to convey the status of ASBJ’s deliberations to more people
in a timely manner.
The webcast is scheduled to start from the 156th ASBJ meeting (to be held on July 10) based onarchives. And it will normally be available for viewing on the ASBJ/FASF website in the afternoonof the business day after the meeting date.
This service will be available Japanese only.

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“ASBJ Newsletter” (No. 3)

Issued on July 7th, 2008
Editor：Akiyoshi Maruyama
The views expressed in ASBJ Newsletter are not necessarily those of the ASBJ or the FASF. The Authors andPublishers accept no responsibility for any loss or damage resulting from reliance on the views expressed herein.
©Copyright, ASBJ/FASF All Rights Reserved
Web-site : https://www.asb.or.jp/asb/index_e.jsp
Accounting Standards Board of Japan / Financial Accounting Standards Foundation
Fukoku Seimei Building 20F, 2-2, Uchisaiwaicho 2-chome, Chiyoda-ku, Tokyo, Japan(Zip Code:100-0011)* If you have any opinions or requests, please contact:
E-mail : publicity@asb.or.jp
Fax : 03-5510-2712

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