Issued May 18, 2010 (No. 14)

Contents

1. Development of the ASBJ Standards etc. (released between February 2nd
and April 2nd 2010)
2. Overview of ASBJ Meetings (195th Meeting – 198th Meeting
3. ASBJ’s Comments on the Documents Issued by the IASB and FASB
(February 1, 2010 – March 31, 2010)
4. ASBJ Full-time Board Member Atsushi Kato Takes Part in the Mission to
India and Singapore to Attend Meetings to Discuss the Response to IFRS
Adoption
5. Meeting of the 9th Standards Advisory Council
6. The 27th IASB SAC Meeting
7. The Chair and Vice Chair of the Technical Expert Group of EFRAG VisitJapan
8. FASF President Toshitaka Hagiwara Receives the Accounting Award for
Top Executive at the 2010 Integrity Awards
9. The New ASBJ Structure is initiated
10. Holding of the FASF Seminar on the “Guide to the Preparation of
Quarterly Reports” (for the Fourth Quarter Ending March 31, 2010)
11. Project Progress (As of April 12, 2010)
12. Noticepg. 1
Copyright© ASBJ/FASF All Rights Reserved.

1. Development of the ASBJ Standards etc. (released between February 2nd
and April 2nd 2010)(1) [Final] Revision of some PITFs, pursuing the Accounting Standard for Accounting Changes andError Corrections (ASBJ Statement No.24) and its Implementation Guidance (February 19,
2010)[In line with the released ASBJ Statement No. 24 (Accounting Standard for Accounting Changes
and Error Corrections) etc., technical revisions were made to PITF No. 18 (Tentative Solution on
Unification of Accounting Policies Applied to Foreign Subsidiaries for Consolidated Financial
Statements) and PITF No. 19 (Tentative Solution on Accounting for Deferred Assets).](2) [ED] Release of Exposure Draft of proposed amendments to the Accounting Guidelines for
Small and Medium-sized Entities (March 11, 2010)(The comment deadline was March 31, 2010)(3) [Other] Expiry of the Period of Applicability of Practical Issue Task Force No. 26 (Tentative
Solution on Reclassification of Debt Securities) (March 17, 2010)(4) [ED] Release of Exposure Draft of Accounting Standard for Retirement Benefits (Exposure Draftof Statement No. 39) and the Exposure Draft of Implementation Guidance on AccountingStandard for Retirement Benefits (Exposure Draft of Guidance No. 35) (March 18, 2010)(The comment deadline is May 31, 2010)(5) [ED] Release of Exposure Drafts of Proposed Amendments to Accounting Standard, its
Implementatino Guidance and Practical Solution for Earning Per Share (April 2, 2010)(The comment deadline is May 31, 2010)(6) [ED] Release of Exposure Drafts of Proposed Amendments to several Accounting Standards,
following the issuance of the Accounting Standard for Accounting Changes and Error
Corrections (ASBJ Statement No.24) (April 2, 2010)[This Exposure Draft proposes amendments to existing standards to adjust them to the
Accounting Standard for Accounting Changes and Error Corrections (ASBJ Statement No.24),
mainly with regard to the treatments for retrospective application in quarterly financial reportingand segment reporting. The comment deadline is May 31, 2010.][Legend]
DP: Issue Paper, Discussion Paper
ED: Exposure Draft
Final: Statement/Guidance etc. (final version)pg. 2
Copyright© ASBJ/FASF All Rights Reserved.

2. Overview of ASBJ Meetings (195th Meeting – 198th Meeting(1) 195th Meeting (held on February 12, 2010)
a. Revision of PITF No. 18 “Tentative Solution on Unification of Accounting Policies Applied toForeign Subsidiaries for Consolidated Financial Statements” andPITF No. 19 “Tentative

Solution on Accounting for Deferred Assets” [Approval for public release]b. Progress of the Retirement Benefits Accounting Technical Committeec. Progress of the Technical Committee for Financial Statement Presentationd. Progress of the Technical Committee for Business Combinations
e. Progress of the Technical Committee for SPEsa. The Board approved to revise PITF No. 18 “Tentative Solution on Unification of Accounting
Policies Applied to Foreign Subsidiaries for Consolidated Financial Statements” and PITF No. 19“Tentative Solution on Accounting for Deferred Assets” in line with the release of ASBJ Statement
No. 24 (Accounting Standard for Accounting Changes and Error Corrections).
b. The Board discussed the draft text of the forthcoming exposure draft of the revisions to the
Accounting Standard for Retirement Benefits. The Board discussed the provisions relating to a titleof a line item to present retirement benefit liabilities, recycling of income and attribution for
projected retirement benefits.
The Board decided that a liability relating to retirement benefits should be presented as non-current
liabilities under a title such as “retirement benefits liability” rather than “provision for retirement
benefits”, considering that immediate recognition of actuarial gains and losses would be required..
The Board also decided to specify the requirement of recycling in order to retain the determinationof net income under the existing requirements.
c.

The staff reported on the comments on the Exposure Draft of the Accounting Standard for
Presentation of Comprehensive Income and how the ASBJ would respond to these comments.
While many respondents supported the adoption of comprehensive income presentation, there
were many comments about its application to non-consolidated financial statements, either
expressing opposition to that or suggesting delayed adoption for non-consolidated, fromviewpoints of burdens in practice and necessity of consensus among constituents.

d. The Board discussed whether to permit to choose between the full goodwill method and thepurchased goodwill method and how non-controlling interest should be measured in cases where
the full goodwill method is adopted.
e. The Board discussed whether to reconsider the special treatment of SPEs in the “Treatment
regarding the Revision of the Scope of Subsidiaries and Affiliates under the Consolidated Financial
Statements System.” issued by the Business Accounting Council of Japan in 1998.
(2) 196th Meeting (held on February 25, 2010)a. Progress of the Retirement Benefits Accounting Technical Committeeb. Progress of the Technical Committee for Financial Statement Presentationc. Progress of the Technical Committee for Retrospective Application

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d. Progress of the Technical Committee for Provisions
e. Progress of the Lease Accounting Technical Committeea.

The Board discussed the draft text of the forthcoming exposure draft of the revisions to the
Accounting Standard for Retirement Benefits, in preparation for the approval for public scheduled
to take place at the 197th Meeting.

b. The Board discussed the issues about the adoption of comprehensive income presentation in
non-consolidated financial statements and the effective date.
In response to the comments opposing to or suggesting delay of the adoption for non-consolidated
financial statements, the opinion of the Board Members was divided. Some Members argue that
extensive discussion is necessary to build a consensus among constituents regarding the idea of‘applying certain new standards to consolidated financial statements ahead of non-consolidated
ones.’, Other Members argue that such idea should be considered only when there is an issue of
coordination with the Company Act or Tax laws and it would not be applicable to the presentationof comprehensive income.
c.

The Board discussed the treatment of the case where a change in accounting policy made in thesecond quarter or later cannot be ,retrospectively applied to the quarter periods before that change.

d.

The Board discussed the comments on the Exposure Draft Measurement of Liabilities in IAS 37(Limited re-exposure of proposed amendment to IAS 37) - which was re-exposed by the IASB
in January.
(3) 197th Meeting (held on March 11, 2010)
a. Exposure Draft of Accounting Standard (Draft) for Retirement Benefits” [Approval for public
release]b. Decision on the Treatment of PITF No. 26 [Approval for public release]c. Progress of the Technical Committee for Financial Statement Presentationd. Progress of the Intangible Assets Technical Committeee. Progress of the Technical Committee for Earnings per Share (EPS)a. The Board approved to release the Exposure Draft of Accounting Standard for Retirement Benefits
The main changes by the Exposure Draft include the treatment of actuarial gains and losses andunrecognized past service cost (sometimes referred to as “immediate recognition on the balance
sheet”; the treatment in the profit and loss statement will remain the same with the existing
standard), the amendment to the method used for calculating retirement benefit obligations andservice costs (to permit attribution based on the plan’s benefit formula and to require the use ofyield curve in discounting), and enhanced disclosures.
b. The Board discussed the treatment of PITF No. 26.
PITF No. 26 contained a sunset clause as it was introduced as a reaction to the global financial
crisis. The Board decided not to permit its new application because the economic environment haschanged and the ‘unusual circumstances’ no longer exist and not to require the notes about
reclassification because the continuation of those notes is considered unnecessary.
c. The Board continued the discussion about the application of comprehensive income presentation to
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non-consolidated financial statements in the 196th Meeting.
In the Project Plan issued in September 2009 the standard was planned to be finalized by thisMarch. However, given the lack of consensus among Board Members on this issue, the Board
voted whether to finalize the standard at the next Meeting as originally scheduled. As a result, themajority of Members felt that further discussion would be necessary and therefore the Board willconsider the future actions based on that.
d. The staff reported the comments received on the Discussion Paper.
Many respondents supported the capitalization of internally generated development costs from theviewpoint of convergence and there were many comments asking for guidelines to ensurecomparability.
e. The Board undertook final discussion of the draft text of the forthcoming Exposure Draft, prior to
the approval for public scheduled at the next Board meeting.
(4) 198th Meeting (held on March 25, 2010)
a. Exposure Draft of Accounting Standard (Draft) for Earnings per Share [Approval for public
release]b. Exposure Draft of Proposed Amendments to Existing Standards etc. in Line with the Release of
the Accounting Standard for Accounting Changes and Error Corrections [Approval for public
release]c. Progress of the Technical Committee for SPEsd. Progress of the Technical Committee for Financial Statement Presentatione. Discussion regarding intangible assets
f. Discussion regarding the revisions to the taxation system coming into effect in 2010
a. The Board approved to release the Exposure Draft of Accounting Standard for Earnings per Share.
The proposal addresses the differences from the existing IFRS which are unlikely to be affected by
IASB’s future discussion and the issues raised by constituents in Japan, including the treatment ofmoving strike convertible bonds (MSCB).
b. The Board approved to release the exposure draft concerning revisions to the standards relating toretrospective application in quarterly financial reporting and segment reporting, in line with therelease of the Accounting Standard for Accounting Changes and Error Corrections.
c. The Board discussed whether to reconsider the special treatment of SPEs in the “Treatment
regarding the Revision of the Scope of Subsidiaries and Affiliates under the Consolidated Financial
Statements System”.
There is an argument that the above special treatment is often too broadly applied todevelopment-type SPEs. The Board voted whether to address the issue on development-type SPEsin the short-term separately from the discussion of convergence, although the treatment of SPEs is
one of the items of convergence. The Board tentatively decided to address it in the short-term.
d. The Board decided to continue the discussion about the application of the standard to
non-consolidated financial statements for the next two or three months, based on the results ofdiscussions at the 197th Meeting, in which the many Members expressed the view that further
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Copyright© ASBJ/FASF All Rights Reserved.

discussion would be necessary.
e. The Board discussed the capitalization of internally generated development costs. There is anargument that capitalization of development costs in non-consolidated financial statements should
be considered later than that in consolidated ones, in the light of potential tax implications
f. The Board discussed how to address the accounting treatments related to the revisions to the group
corporate taxation system that are coming into effect in 2010.

3. ASBJ’s Comments on the Documents Issued by the IASB and FASB
(February 1, 2010 – March 31, 2010)(1) ASBJ issued its Comments on the IASB exposure draft "Management Commentary" (March 2,
2010)(The exposure draft can be found here)

4. ASBJ Full-time Board Member Atsushi Kato Takes Part in the Mission to India
and Singapore to Attend Meetings to Discuss the Response to IFRS Adoption
A mission led by the IFRS Council, with the participation of the Japan Business Federation(Nippon Keidanren), the Japanese Institute ofCertified Public Accountants and ASBJ, visited
accounting standards related parties in India andSingapore over the period February 8 – 11, 2010,
to examine IFRS adoption in these twocountries, exchange views, help to strengthen
relations between India, Singapore and Japan inthis area. ASBJ Full-time Board Member
Atsushi Kato took part in this mission.

5. Meeting of the 9th Standards Advisory Council
The 9th Meeting of the Standards Advisory Council in Japan was held on February 17, 2010. The
Meeting began with a report on ASBJ’s recent activities, after which there was an exchange of views
regarding the meeting with the U.K.’s Accounting Standards Board (ASB) and regarding recent
trends in the U.S. and Europe. This was followed by an explanation of major international events
which are scheduled for 2010, and of the establishment of the International Affairs Committee underthe IFRS Council in Japan, as well as an exchange of views regarding the impact of new financial
regulation legislation in the U.S., the IASB’s stance regarding convergence with the U.S.’s FASB.
Following on from this, there was an explanation regarding the establishment of the Council on
Accounting of Unlisted Companies, and an exchange of views concerning the relationship withaccounting standards targeting listed companies, and IFRSs targeting small and medium enterprises.
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The final part of the Meeting was a presentation of the results of the survey which was
implemented in November 2009, and an exchange of views on efforts toward continued andaccelerated convergence.

6. The 27th IASB SAC Meeting
The 27th IASB Standards Advisory Council (SAC, now named IFRS Advisory Council) Meeting
was held in London on February 22 – 23, 2010. Japan was represented at the Meeting by Seiichi
Kaneko (SAC Member, and Board member of the Securities Analysts Association of Japan) andShozo Yoneya (Corporate Auditor, ITOCHU Corporation), with Makoto Sonoda (Deputy Director,
Financial Services Agency) attending as an observer. The agenda for the Meeting is shown below:
Time

Item

Feb. 22

Update on developments since the last SAC Meeting

10:00 - 13:00• Report by the Chair and Vice-Chairs• Update on progress in major projects• NSS update• EFRAG update• SEC update• SAC Member activities

14:00 - 15:30• XBRL and its interaction with disclosure requirements (Introduction to theprinciples of the IASB XBRL taxonomy and the role of extensions)

15:30 - 17:30• The IASB work plan post June 2011 (Break-out sessions in four small groups)

Feb. 23• The IASB work plan post June 2011 (continued)

9:15 - 11:15
11:30 - 12:30(Report back from the break-out sessions)• Effects analysis

As with the previous SAC Meeting, the main focus of discussion at the 27th SAC Meeting was onpriorities for the IASB work plan post June 2011. Discussion was undertaken in four groups; theresults of this discussion were then reported to the Meeting as a whole. The groups reachedconsensus on the following points:
 As the development of new standards is planned, the emphasis placed on ensuring effective
implementation of existing standards. To this end, the criteria for adding new projects to theagenda should be revised.
 Given the importance of post-implementation review, new guidelines will need to be
developed.
 Convergence in itself is not a primary goal; quality should not be sacrificed just for the sake of
convergence.
 Decision usefulness of IFRS standards must be maintained for maintaining the IASB brand.
And it is necessary to ensure their credibility and tackle their misuse.
In addition, presentations about XBRL and effects analysis were made to help future discussions.

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Many SAC Members expressed comments in support of the integration of effects analysis into thestandards development process.

7. The Chair and Vice Chair of the Technical Expert Group of EFRAG VisitJapan
In March 2010, Stig Enevoldsen (Chair) and Françoise Flores (who will be taking over as Vice
Chair on April 1, 2010) of the European Financial Reporting Advisory Group (EFRAG) visited
Japan, accompanied by EFRAG Acting Secretariat Director and Research Director Mario Abela, toexchange views with ASBJ.
On March 8, the EFRAG delegation visited the ASBJ offices for a meeting. The meeting beganwith a presentation by ASBJ on its recent activities and on the activities of the Asian-OceanianStandard-Setters Group (AOSSG), which was established last year, after which the EFRAG
delegation gave a presentation on the current state of EFRAG’s activities and on the state of theendorsement process in Europe. This was followed by an exchange of views regarding recent
developments

ininternational

accounting

standards (focusing on the progress made in
IASB projects) and issues relating to IFRS
adoption (in light of Europe’s experience in thisarea), as well as regarding IASB projects
relating to financial instruments (recognition
andmeasurement),

financialstatement

presentation, liabilities (the amendment to IAS37), IFRS for small and medium-sized entities,
etc.
On the following day, March 9, the EFRAG Chair and Vice Chair performed the role of guest
speakers at an ASBJ Open Seminar: “How to address IFRS implementation: Japan’s efforts towards
the adoption of IFRS, building on the European experience”, which was held at the Tokyo
Conference Center in Shinagawa. Despite the heavily raining weather, over 500 people attended theopen seminar.
The aim of the seminar was to facilitate smooth IFRS adoption in Japan by learning from
Europe’s experience; the seminar also provided a forum for discussion of the challenges that Japan
will face during IFRS adoption, and of the measures that will need to be taken, with the aim ofstrengthening awareness in this regard. The seminar program is shown below:

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Seminar Topics

Presented by

European approach to IFRS –through EFRAG activities

Stig Enevoldsen, EFRAG Chairman
Françoise Flores, EFRAG Vice ChairJapan Update on IFRS – ASBJ
activities
Application of IFRS in Japan –Activities of the IFRS Council ofJapan

Ikuo Nishikawa, ASBJ Chairman
Noriaki Shimazaki, Chairman of the International Affairs
Committee, the IFRS Council of Japan

Panel Discussion

Panelists

Implications of the European
Stig Enevoldsen, EFRAG Chairman
experience and supplemental
Françoise Flores, EFRAG Vice Chairfuture actions to be taken in Japan Noriaki Shimazaki, Chairman of the International Affairs
Committee, the IFRS Council of Japan
Sei-ichi Kaneko, Director of the Securities Analysts Associationof JapanIkuo Nishikawa, ASBJ Chairman
Atsushi Kato, ASBJ Full-time Board Member (Moderator)
The main points made in the speeches by EFRAG Chairman Stig Enevoldsen and EFRAG Vice
Chair Françoise Flores were as follows:• While EFRAG supports the convergence between IASB and FASB, it does not believe thatconvergence must be achieved regardless of the cost. The IASB should not focus only on theneeds of the U.S.A.; it should also listen to the views of countries such as Japan that have decided
to adopt IFRS, as well as Europe.
• Regarding the adoption of IFRS in Europe, the European Commission’s survey on financial
statements for 2006 found that there had been a significant improvement in quality compared to2005. It is important to note that the improvement in quality is gradual, not a drastic improvementin the first year of adoption.
• Changes of accounting standards take a long period for the preparation. Although IFRS adoption
in Japan might be easier in Japan because it has already undertaken some convergence with IFRSs,
Japan is still likely to find the process of IFRS adoption to be challenging.
• Endorsement of IFRS 9 (Financial Instruments) in Europe is not rejected; EC merely thought that
more time is needed for careful considerations. A decision will be made when the time is ripe.
After the speeches, the speakers were joined by Sei-ichi Kaneko, Director of the Securities
Analysts Association of Japan, and by ASBJ Full-time Board Member Atsushi Kato, for a panel
discussion. There was a lively discussion about the endorsement mechanism in Europe (including
IFRS 9) and the problems to be addressed for the adoption of the principles-based IFRSs.
The seminar helped deepening the understanding regarding the trends relating to IFRS adoption
and the activities of EFRAG, which is expected to play an even more important role inaccounting-related matters in Europe under the leadership of Françoise Flores, who is going to be
taking over as EFRAG Chair, . Both ASBJ and EFRAG will continue to exchange views on how
they can contribute to the development of high-quality accounting standards by the IASB, and on
standards adoption.
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8. FASF President Toshitaka Hagiwara Receives the Accounting Award for Top
Executive at the 2010 Integrity Awards
FASF President Toshitaka Hagiwara has been awarded the Accounting Award for Top Executiveby the Integrity Awards Council in the 2010 Integrity Awards.
The Integrity Awards reflect the importance that internal control systems
play in ensuring efficient enterprise operation. At the same time, theAwards are also intended to demonstrate society’s support for enterprisesthat demonstrate a high level of awareness of the need to attach due
importance to compliance and transparency so as to maintain a highlevel of market competitiveness over the medium and long term.
Starting from this year, the Awards include an “Accounting Award for
Top Executive,” which is awarded to individuals who demonstrate aproper awareness of the role that accounting should play, whose own
work reflects this awareness, and who have made a significant
contribution towards the development of accounting within Japan. This

Photo courtesy of Financial
Japan

year, FASF President Toshitaka Hagiwara was chosen to receive this award.
The Award Ceremony was held on March 23, 2010 in the Tosho Hall (Tokyo Stock Exchange).
FASF President Toshitaka Hagiwara expressed his happiness at receiving the award in the following
terms:“I feel deeply honored to have been chosen to receive the 2010 Accounting Award for Top
Executive. I understand that this is a newly-created award, presented for the first time this year,
which is presented to individuals who have made a contribution towards the development ofaccounting in Japan. As I understand it, I was chosen to receive the award because of myinvolvement in the activities of the FASF, the IFRS Council which was established last year, and theJapan Business Federation (Nippon Keidanren) management team. Anything that I may haveachieved during my involvement with these organizations was not attributable to me alone, butrather to the efforts of a great many people working together. I would like to take this opportunity tothank everyone involved with each of these organizations for their hard work and dedication.”
The other 2010 Integrity Awards recipients are listed below:√

Accountant Encouragement Award 2010:
 Takatsugu Ōchi (General Manager of Planning and Administration Department, Financial
Resources Management Group, Sumitomo Corporation, and IFRIC Member) Yasuhiro Tanaka (Certified Public Accountant)√Integrity Award 2010:
 Outstanding Achievement:
TOTO Ltd.
 Superior Performance:
Asahi Glass Co., Ltd.
Mitsubishi Corporation

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9. The New ASBJ Structure is initiatedAt a meeting of the ASBJ Board held on March 19, 2010, the ASBJ Members were reselected. Inline with the goal of achieving efficient standards development, the number of Members was
reduced from 15 to 11, while at the same time the number of Full-time Members was increased from4 to 5. The new structure is shown below:
Ikuo Nishikawa

Full-time (Chairman)

Atsushi Kato

Full-time (Vice Chairman)

Takehiro Arai

Full-time (Vice Chairman)

Masaji Miyako

Full-time (newly appointed)

Yoshihiro Nomura

Full-time

Satoshi Komiyama

Part-time

Yasunori Tanimoto

Part-time (newly appointed)

Kazuo Hiramatsu

Part-time

Masao Yanaga

Part-time (newly appointed)

Tatsuya Yamada

Part-time

Shozo Yoneya

Part-time

10. Holding of the FASF Seminar on the “Guide to the Preparation of Quarterly
Reports” (for the Fourth Quarter Ending March 31, 2010)
The FASF seminars on the “Guide to the Preparation of Quarterly Reports” (for the Fourth
Quarter ending March 31, 2010) were held starting on April 2, 2010 in 11 sessions in 9 cities: Osaka,
Tokyo (3 sessions), Nagoya, Fukuoka, Sapporo, Kanazawa, Hiroshima, Takamatsu, and Sendai. The
seminar was accompanied by a presentation on “Recent Trends in Disclosure Systems etc.” by the
Corporate Accounting and Disclosure Division, Planning and Coordination Bureau, Financial
Services Agency, and a presentation on “The Current State of
ASBJ Activities” by ASBJ, which explained recent trends inconvergence in Japan and the most recently announced accounting
standards.
Judging from the total number of seminar participants (around
4,000), and the high level of interest displayed by the participants,
the seminar was a resounding success.

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11. Project Progress (As of April 12, 2010)
2010
Q2

2010
Q3

2010
Q4

2011
H1

2011
H2

Items related to the remaining differences between existing Japanese GAAP and IFRSs
Business Combinations (Step2)
ED
Final
Financial Statement Presentation
Final(Comprehensive Income)Intangibles
ED
Final
Items related to projects addressed in the MoU between the IASB and the FASB
1 Scope of Consolidations
EDFinal
2 Financial Statement Presentation- Phase B
DPED- Discontinued Operations
ED
Final
3 Revenue Recognition
DPED
4 Liabilities and Equity DistinctionsDP
5 Financial Instruments- Classification and Measurement of
DP2ED
Financial Assets- Classification and Measurement of
DPorDP2ED
Financial Liabilities- Impairment
ED- HedgingED
6 Fair Value Measurement
Disclosure
7 Post-employment Benefits

and

ED

Final

- Step 1

Final- Step 2
8 Leases
9 Derecognition

DP
DP

ED

ED
DP

ED

Items related to the IASB projects other than those addressed in the MoU between the
IASB and the FASB
Earnings per Share*
Final
Provisions
DP2
ED
Emission Trading SchemesDP
Insurance Contracts*: This project aims at amendment related to remaining differences.
[Legend]DP
Discussion Paper
DP2 Advanced Discussion Paper (It is a document presenting preliminary views in the form near toa standard before the development of exposure drafts.)
ED
Exposure Draft
Final Accounting Standard/Guidance etc.
Italicized legends indicate finished events.

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12. Notice(1) New Publications
Periodical – Accounting Standards and Disclosure Quarterly No. 28 (published on March 15, 2010)[Main Contents]Feature Article: “Two New Accounting Standards that Enhance Comparability andUnderstandability of Financial Statements”
Round-table Talks



Explanation of the “Accounting Standard for Accounting Changes and Error Correctionsand Guidance with Respect to the Accounting Standard for Accounting Changes and Error
Corrections, and the Exposure Draft of Accounting Standard for Presentation ofComprehensive Income”

Special Feature: The Visit to Japan by Mr. Ian Mackintosh, Chairman of the U.K.’s ASB
“A Discussion between Mr. Ian Mackintosh, Chairman of the ASB, and Mr. Ikuo
Nishikawa, Chairman of the ASBJ”, etc.

Accounting Square: “2010 will be the First Year of the New Era of IFRS,” Kazutoshi Inano of
the Securities Analysis Association of Japan

CFO Letter: “Cultivation of CFOs as Managerial Talent,” Junichi Matsumoto, Executive Vice
President and CFO, Mitsui & Co., Ltd.

Chairman’s Voice: “Looking Back on the Last Three Years,” Ikuo Nishikawa, ASBJ Chairman
Click here to buy this publication (Japanese only)(2) Announcement of the FASF Seminar on the “Guide to the Preparation of Quarterly Reports” (forthe First Quarter ending June 30, 2010)
The FASF Seminar on the “Guide to the Preparation of Quarterly Reports” (for the First Quarter
ending June 30, 2010) will be held on the dates and at the venues listed below.
The Seminar will begin with examples and points to note relating to the new segment information
disclosure requirements which came into effect on April 1, 2010. It will then go on to present an
explanation of the notes required (in accordance with the revised Cabinet Order on disclosure of
December 2009, etc.) in cases where an enterprise has issued moving strike convertible bonds with
subscription rights, and an explanation of points to note when drawing up consolidated financial
statements in accordance with designated IFRSs, and points to note regarding the presentation offinancial statements prior to the regular shareholders meeting.

pg. 13Copyright© ASBJ/FASF All Rights Reserved.

City

Date

Venue

Tokyo (1)

May 18 (Tuesday) 13:30 - 15:30

Yomiuri Hall

Tokyo (2)

May 19 (Wednesday) 13:30 - 15:30

Yomiuri Hall

Tokyo (3)

May 20 (Thursday) 13:30 - 15:30

Yomiuri Hall

NagoyaMay 21 (Friday) 13:30 - 15:30

Nagoya Congress Center

Osaka

May 24 (Monday) 13:30-15:30

Grand Cube Osaka

Fukuoka

May 25 (Tuesday) 10:30 - 12:30

Nishitetsu Grand Hotel

Sendai

May 25 (Tuesday) 10:30 - 12:30

Hotel Metropolitan Sendai

SapporoMay 26 (Wednesday) 10:30 - 12:30

JR Tower Hotel Nikko Sapporo

Hiroshima

May 27 (Thursday) 10:30 - 12:30

Hotel Granvia Hiroshima

Kanazawa

May 28 (Friday) 10:30 - 12:30

ANA Crown Plaza Hotel Kanazawa

Takamatsu

May 28 (Friday) 10:30 - 12:30

ANA Hotel Clement Takamatsu* The Tokyo (1) and Tokyo (2) sessions are open to FASF members only.
* The times given for the ending of the seminars are for reference only.

“ASBJ Newsletter” (No. 14)
Issued on May 18, 2010
Editor: Akiyoshi Maruyama
The views expressed in ASBJ Newsletter are not necessarily those of the ASBJ or the FASF. The
Authors and Publishers accept no responsibility for any loss or damage resulting from reliance on theviews expressed herein.
© Copyright, ASBJ/FASF All Rights Reserved
Website: https://www.asb.or.jp/asb/index_e.jsp
E-mail: publicity@asb.or.jp
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)

pg. 14
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