Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) held a bilateral meeting on July 17, 2025, in Tokyo. The meeting was the thirty-fifth in a series of meetings between the FASB and the ASBJ to further the boards’ cooperative efforts to develop high-quality global accounting standards.
At this meeting, representatives of the FASB and the ASBJ provided updates on their respective activities and discussed agenda items in which both boards have interest, such as the agenda consultation, business combinations and environmental credit programs.
The FASB and the ASBJ plan to continue their dialogue and collaboration. The next meeting is planned for the second half of 2026 in Norwalk.
Richard R. Jones, Chair of the FASB, stated:
“We extend our thanks to Chair Kawanishi and the ASBJ for hosting our 2025 bilateral meeting in Tokyo. Our discussions on standard-setting projects of mutual interest, such as environmental credit programs, business combinations, and our 2025 agenda consultation project, produced valuable insights on financial reporting improvements. The FASB also appreciated the opportunity to participate in the ASBJ roundtable meeting to hear feedback on projects that affect constituents in our respective jurisdictions. We appreciated the robust exchange of views with the ASBJ and its stakeholders and we look forward to continuing our dialogues in Norwalk during the second half of 2026.”
Yasunobu Kawanishi, Chair of the ASBJ, stated:
“It was our great pleasure to host the bilateral meeting in Tokyo. We were also honored to welcome Ms. Hillary Salo, Vice Chair of the FASB, and Mr. Jackson Day, Technical Director of the FASB, on their first visit to Japan in their current capacities. During the bilateral meeting, we had productive discussions on a wide range of topics, including the agenda consultation, business combinations and environmental credit programs. We are also grateful for the FASB representatives’ participation in the symposium that was open to the public. We look forward to continuing and further deepening our collaborative relationship with the FASB in the coming years.”
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Tags: Accounting, Accounting Standards, FASB, japan
