The FASB and ASBJ joined forces in Tokyo to hash out global accounting standards. Big topics included business combinations and environmental credit programs.
Key Points
•📍 Location: Meeting held in Tokyo, Japan
•🤝 Collaborators: FASB and ASBJ representatives
•📅 Next Meeting: Scheduled for the second half of 2026 in Norwalk
•💡 Hot Topics: Agenda consultation, business combinations, environmental credit programs
•🔍 Key Figures: Richard R. Jones, Yasunobu Kawanishi
🌟 The Big Meeting
On July 17, 2025, the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) held their thirty-fifth bilateral meeting in Tokyo. Both boards are committed to developing high-quality global accounting standards, and this meeting was another step in their collaborative journey.
💬 Key Discussions
During the meeting, representatives from both boards provided updates on their activities and dove into agenda items of mutual interest. Topics like business combinations and environmental credit programs were front and center. Both sides shared valuable insights that are set to shape the future of financial reporting.
🗣️ Words from the Leaders
Richard R. Jones, Chair of the FASB, praised the productive discussions and the robust exchange of views. He highlighted the importance of the collaboration in improving financial reporting. Yasunobu Kawanishi, Chair of the ASBJ, echoed these sentiments, expressing gratitude for the opportunity to deepen their relationship and discuss wide-ranging topics.
📅 Looking Ahead
The FASB and ASBJ plan to continue their dialogue with the next meeting slated for the second half of 2026 in Norwalk. This ongoing collaboration promises to bring even more advancements in global accounting standards.
