Japan to Ease Firms' Burden of Quarterly Reporting

Economy Politics

Tokyo, April 14 (Jiji Press)--The Japanese government plans to ease companies' burden of making quarterly financial reports, it was learned Thursday.

Currently, listed companies are required under law to disclose annual, half-year and quarterly financial statements as well as "kessan tanshin" earnings reports under stock exchange rules.

But the business circle has complained that making the two separate quarterly documents with overlapping content is burdensome.

According to people familiar with the matter, the government is now working to abolish the mandatory financial statements to allow companies to make only kessan tanshin reports, both on a quarterly basis.

The move is in line with a proposal by the ruling Liberal Democratic Party's Finance and Banking Systems Research Commission reflecting Primer Minister Fumio Kishida's intention to overhaul quarterly disclosure requirements for companies as part of his centerpiece policy of realizing "a new form of capitalism."

[Copyright The Jiji Press, Ltd.]

Jiji Press