1 March 2023

IFRS Foundation and FASF of Japan sign MoU to extend support for the Foundationand its Asia-Oceania office in Tokyo
On 1 March 2023, the Trustees of the IFRS Foundation signed a Memorandum of Understanding(MoU) with the Financial Accounting Standards Foundation (FASF) of Japan. The MoU extends for afurther five years the FASF’s long-term financial commitment to the IFRS Foundation and its AsiaOceania office, located in Tokyo.
The FASF and Japanese stakeholders have provided financial support to the IFRS Foundation since
its inception in 2001. That support was enhanced in 2012 to enable the formation of the Asia-Oceania
office in Tokyo which, for more than a decade, has supported the International Accounting Standards
Board (IASB) in its technical work and market engagement.
This latest MoU renews the FASF’s commitment to the IFRS Foundation for a further five years andextends the commitment to provide support for the work of the IASB’s sister board, the International
Sustainability Standards Board (ISSB).
The office serves as the base for ISSB Members Hiroshi Komori and Tae-Young Paik. The office hasvarious staff members who are participating in IASB technical projects, ISSB capacity building andengagement projects in the region, as well as in integrated reporting projects. Those activities will befurther enhanced following the agreement of the MoU.
The signing of the MoU is part of a week-long programme of events being held in Tokyo. The IFRSFoundation Trustees are holding their first meeting of 2023 in Tokyo, including an event for key
stakeholders from the Japanese policy and business community.
The week will finish with an international conference on sustainability disclosures, co-hosted by theIFRS Foundation and the Japanese Financial Services Agency (FSA). The hybrid conference takesplace in person and online on Friday, 3 March 2023 and will include representatives from the IFRSFoundation, the Japanese FSA, the International Organization of Securities Commissions (IOSCO),
the European Commission and the US Securities and Exchange Commission. Further details areavailable from the event page.
Commenting on the announcement, Erkki Liikanen, Chair of the IFRS Foundation Trustees, said:“The FASF has been a valued, long-term partner to the IFRS Foundation, and we thank them for thisrenewed commitment to our work. The expansion of the Asia-Oceania office in Tokyo to support thework of the ISSB will connect with the recently established Sustainability Standards Board of Japan(SSBJ) under the governance of the FASF. We look forward to the Asia-Oceania office in Tokyo
playing an important role in the work of both the IASB and the ISSB.”
Eiji Hayashida, President of Financial Accounting Standards Foundation of Japan, said:“We welcome the addition of ISSB's multi-location capabilities to the Asia-Oceania office in Tokyo.
We hope this office will play a greater role as the office for both IASB and ISSB in Asia. We willcontinue to support the activities of the IASB and ISSB through the ASBJ and SSBJ.”

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Keiko Tashiro, Trustee of the IFRS Foundation, said:“The Asia-Oceania office in Tokyo has played an important role helping stakeholders in Japan andacross the region to engage in the IASB’s work. I am pleased that during the office’s
10th anniversary, we are extending that support to also cover the work of the ISSB.”
Masamichi Kono, Trustee of the IFRS Foundation, said:“The support extended by FASF is much appreciated. It will enable the Asia-Oceania office in Tokyoto provide stronger support to capacity-building and stakeholder engagement in the region. The IFRSFoundation is sure to benefit from closer ties with the Asia-Oceania region in taking forward the workof both the IASB and the ISSB.”

ENDS

Contacts:
Akira Kawashima, General Manager, General Affairs Dept., Financial Accounting Standards
Foundation
Telephone: +81.3.5510.2711
Email: soumu@fasf-j.jp
Kirstina Reitan, Director of Corporate Communications, IFRS Foundation
Telephone: +44 (0)20 7246 6960
Email: kreitan@ifrs.org
About the Financial Accounting Standards Foundation (FASF)
The FASF is a not-for-profit organisation established in 2001 to contribute to the sound developmentof financial reporting practices in Japan and sound capital markets mainly by developing generally
accepted accounting and sustainability disclosure standards in Japan and by contributing to thedevelopment of the international accounting and sustainability disclosure standards. Our Standards
are developed by our two standard-setting boards, the Accounting Standards Board of Japan (ASBJ)
and the Sustainability Standards Board of Japan (SSBJ).
For more information on the FASF, visit https://www.asb.or.jp/en
About the IFRS Foundation
The IFRS Foundation is a not-for-profit, public interest organisation established to develop highquality, understandable, enforceable and globally accepted accounting and sustainability disclosure
standards. Our Standards are developed by our two standard-setting boards, the International
Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB).
For more information on the IFRS Foundation, visit https://www.ifrs.org/Page 2 of 2