Accounting Differences
Shareholders Rights
Japanese Business Law
Company INDEX
Japanese accountant's mistakes
The Author

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    To find the company you are looking for click on the above "Company Index" Clicking there will download an EXCEL index file. You can sort by company code number or name. Use the "Find" Command in EXCEL's :"Edit" menu to search for a company by name, partial name, or even FORMER NAME. Click on the hyperlink and this should take you to the the selected companies general information page from which you can find the full financial statement in English. The first hyperlinks give you 3 selections: "HOME PAGE---FULL FINANCIALS, DOWNLOAD EXCEL WORKBOOK" as explained directly below.

    1. "Home Page" which will return you to this website's home page. If this does not work simply click the "back" button on your browser, until you reach the Home Page again.

    2. "Full Financials" which is recommended for those who do not have Microsoft's Excel loaded on their computers. This will take you to the static HTML table with complete financial statement data for usually five years, in English.

    3. "Download Excel Workbook" which is the star of the show. If you have Microsoft's Excel you can click on this where it will download the workbook permitting you to see and use not only the complete financial statement data, but also a summary financial statement worksheet, a financial ratios worksheet and of course, a plethora of charts based on that data.

    MORE RECENT UPDATES MUST NOW BE ORDERED by clicking on the order link on the company page.


    The data source for this data is the Japanese language yuka shoken hokokusho , which is the Japanese equivalent of SEC filings in the USA and required to be filed by all publicly traded companies as per Japan's securities Laws. The original Japanese language copy is viewable at each companies html page under "Japanese Financials nihongo yuka shoken hokusho" directly below the row showing "HOME PAGE--- FULL FINANCIALS--- DOWNLOAD EXCEL WORKBOOK"

    NOTICE: As our English language translations are exact translations are the Japanese original yuka shoken hokokusho, our 'SALES FIGURES' sometimes differ from the handbooks or databanks of other sources as they make "adjustments" . If the Japanese original shows "uriagedaka" then that is what we show as "sales"  in our English language sources, with no adjustments.

    Accounting Differences

    TIMING One of the most important differences between the US and Japan is the timing of the release financial statement data. Amazingly, Americans think that since their companies announce quarterly reports very promptly, the rest of the world does as well. That is JUST PLAIN WRONG. Most European Companies do not announce their official reports until 6-12 months after the end of the business year. So if you want the data for a November 1998 term company in Europe, it may well not be available until the end of 1999. Japan does comparatively well. Japanese companies must make their official filings of their corporate reports 3 months after the end of the business year. Since most Japanese companies have March terms, most file their reports in early July, IN JAPANESE. Now while it is possible to translate one of these corporate reports immediately, it takes a couple of months to translate thousands of financial statements. The Government of Japan does not require its companies to file their official filings in English. Japan's official language is Japanese. Even in Japanese there is no Japanese government web site at present providing even Japanese language reports as compared to the EDGAR system in the USA.

    Every country has different accounting standards due to differences in legal systems and business customs. A recent example of the discrepancies that are possible are the financial statements for SmithKline Beecham found in their annual report for 1997. Despite what one would think would be systems of law and business custom as close as the USA and the UK, that annual report reveals that for 1997 under UK GAAP net income was 1,079 million pounds, while under US GAAP, net income was 828 million pounds. Likewise, for shareholders' funds--equity interests as per UK GAAP 1791 million pounds, while on US GAAP the figure was 4,876 million pounds. While the problem arose mostly due to handling of goodwill, the differences in the figures are astounding.

    JAPAN. The above illustration involved accounting in two systems as close as the US and the UK. Japan is even more unique. While it appears to most closely resemble the accounting system in Germany (again because of similarities in legal systems as much of Japan's commercial laws are modeled on their German counterparts). For example, Japan follows in many ways the German system of using reserves to increase the financial strength of the company, but in lowers official reported profits. That also explains in many ways the stratospheric level of Japanese PERs. The preparation of financial statements in Japan is covered by Ministry of Finance regulations Copies of translations of the 1997 version of those regulations can be found below.

    Copyright, 2003. Eagle Enterprises Ltd.