Accounting Standards Board of Japan

  Accounting Standards Boards

About Japanese GAAP

Japanese generally accepted accounting principles (GAAP) are one of the four sets of accounting standards listed companies in Japan can currently choose to use to file their consolidated financial statements. The other three sets of accounting standards are Designated IFRS, U.S. GAAP, and Japan’s Modified International Standards (JMIS).

Accounting Standards are developed by the Accounting Standards Board of Japan (ASBJ) and are designated as Japanese GAAP by the Financial Services Agency of Japan.

The ASBJ develops Accounting Standards in accordance with the “Rules on the Due Process for the Development of Japanese GAAP and Japan’s Modified International Standards” (hereinafter referred to as the “Due Process Rules”) set out by the Financial Accounting Standards Foundation (FASF).