Did you know that Japanese listed companies will be required to publish quartery reports from April 2008?
Partly because the Tokyo Stock Exchange recommends companies to issue quarterly reporting (require for venture companies), even currently, many liste companies prepare quarterly reporting.
The Financial Instruments Act (formerly, Securities Exchange Act) states that quarterly reporting is mandatory for all registrants with Financial Services Agency (FSA).
The ASBJ has issued accounting standards for quarterly reporting. The FSA exposed for public comments in June 2007 a series of proposed regulations related to quartery reporting and auditing.Accountants are now very busy to be ready for 2008 quartery reporting.