Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan eyes cutting quarterly business reporting rules

Japan eyes cutting quarterly business reporting rules

Content image - Phnom Penh Post
Reports are provided to media outlets’ inboxes at the Tokyo Stock Exchange in Chuo Ward, in November 2020. HE YOMIURI SHIMBUN (JAPAN)

Japan eyes cutting quarterly business reporting rules

A rule requiring Japanese companies to report their performance to the government every three months is likely to be scrapped, the Yomiuri Shimbun has learned.

Companies that raise funds from investors through the issuance of stocks or bonds are required to submit quarterly reports to the finance ministry.

However, the business community has called for a review of the practice, citing the heavy administrative burden as it overlaps with the quarterly financial briefings listed companies have to submit to bourses such as the Tokyo Stock Exchange.

It has also been claimed that quarterly reports might encourage businesses to pursue short-term profits.

Since taking office, Prime Minister Fumio Kishida has vowed to review corporate disclosure rules as one of the pillars of his “new form of capitalism” economic policy, based on his view that the current rules have led to undesirable corporate behaviour that prioritises profit.

The Financial Services Agency plans to submit a bill to revise the Financial Instruments and Exchange Law to the ordinary Diet session next year at the earliest, aiming to scrap the rule on quarterly business disclosure reports by April 2024.

Under the planned revision, listed companies would still submit quarterly financial briefings to stock exchanges, but the government is considering whether to make the reports voluntary.

The quarterly reports companies are currently required to submit to the government are in addition to annual and six-month reports.

For companies whose business year ends in March, the reports include cumulative sales and profits as of the end of June and December, and the status of assets and liabilities. Misstatements are subject to penalties.

The government aims to reduce the burden of information disclosure as companies’ operations are expanding amid efforts to tackle decarbonisation and respond to human rights issues.

In Europe, Britain and France have abolished compulsory disclosure for listed companies, and Germany has also narrowed down the companies subject to such obligations.



  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Angkor Beer, 30 Years of Prestige and Still Counting

    Let’s celebrate 30 years of prestige with Angkor Beer. In this 2022, Angkor Beer is 30 years old and has been staying with Cambodian hearts in all circumstances. Head of core beer portfolio, EmYuthousaid, “We have been with Cambodians for three decades now. We, ANGKOR Beer, pride

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,