Public Comments on Draft Amendments to Financial Reporting Regulations
Overview
The Financial Services Agency will solicit public comments on draft amendments to the Regulations on Terminology, Forms, and Preparation Methods of Financial Statements and related regulations, the Regulations on Consolidated Financial Statements, relevant guidelines, and Financial Services Agency notifications, following the publication by the Accounting Standards Board of Japan (ASBJ) of the Accounting Standard for Income Taxes and related standards. The proposal also includes designating accounting standards published by July 7, 2026, as generally accepted and fair and appropriate accounting standards for businesses. The amendments will generally take effect on the date of promulgation, while amendments concerning consolidated statements of cash flows and related matters are scheduled to take effect based on the effective dates of the relevant accounting standards. Comments must be submitted by October 16, 2026, at 5:00 p.m. (must arrive by the deadline), by mail or through e-Gov.
Key points
- The Financial Services Agency will solicit public comments on draft amendments to accounting regulations and related rules.
- Following the publication of accounting standards and related materials by the ASBJ, the Regulations on Financial Statements and related guidelines will be amended.
- The deadline for submitting comments is October 16, 2026, at 5:00 p.m. (must arrive by the deadline).
- The draft amendments will generally take effect on the date of promulgation.
Overview
The Financial Services Agency has compiled the Draft Cabinet Office Ordinance Partially Amending the Regulations on Terminology, Forms, and Preparation Methods of Financial Statements and related regulations, and will solicit comments.
The background includes the publication by the Accounting Standards Board of Japan (ASBJ) of the Accounting Standard for Income Taxes and related standards, as well as the Tentative Treatment for Accounting and Disclosure of Certain Electronic Payment Instruments under the Payment Services Act and related materials.
Impact
The name of a person or organization submitting comments may be disclosed together with the comment if a disclosure request or similar request is made. Those wishing to remain anonymous must state this at the beginning of their comments. Individual responses to comments will not be provided.
Details
The amendments concern the Regulations on Financial Statements, the Regulations on Consolidated Financial Statements, their respective guidelines, and Financial Services Agency notifications. The amended Accounting Standards Nos. 10 and 22 published on June 2, 2026, the amended Accounting Standard No. 27 published on July 7 of the same year, and Accounting Standards Nos. 43 and 44 will be designated as generally accepted and fair and appropriate accounting standards for businesses.
The specific details of the draft amendments are presented in Appendices 1 through 7. Comments must include the submitter's name, occupation, contact information, and reasons, and must be submitted by mail or through e-Gov. Comments by telephone are not accepted. Amendments related to Exposure Draft Accounting Standard No. 99 are scheduled to take effect based on the effective dates of the relevant accounting standards and other related standards.