Japan Financial Services Agency amends financial statement regulations to reflect new interim reporting and special defense corporate tax guidance

Japan Financial Services Agency has promulgated and brought into force Cabinet Office Ordinances amending the rules governing the terms, formats and preparation of financial statements and consolidated financial statements, updating the requirements for regulatory reporting in line with recent domestic accounting pronouncements. The revisions respond to the Corporate Accounting Standards Board (ASBJ) issuing Accounting Standards No. 37 Accounting Standards for Interim Financial Statements and Practical Response Report No. 48 Immediate Treatment of Accounting Treatment and Disclosure of Special Defense Corporate Tax. They also designate accounting standards published by the Corporate Accounting Standards Board by 16 October 2025 as “generally recognized standards for corporate accounting” for the purposes of Article 1, paragraph 3 of both the Financial Statements, etc. Regulations and the Consolidated Financial Statements Regulations. A public consultation on the draft amendments ran from 19 December 2025 to 23 January 2026 and generated five comments from two organisations, with the release including a comment summary, the FSA’s responses, and redline comparison tables for the amended instruments and related guidance. The amended ordinances took effect upon promulgation.