Accounting Regulation in Japan: Evolution and Development from 2001 to 2015, 1st Edition (Hardback) book cover

Accounting Regulation in Japan

Evolution and Development from 2001 to 2015, 1st Edition

By Masatsugu Sanada, Yoshihiro Tokuga


96 pages | 5 B/W Illus.

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Hardback: 9780367221072
pub: 2019-10-10
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Little has been published on accounting standards in Japan and how they have developed. The purpose of this study is to construct a historical narrative of the interplay between accounting standards in Japan and theories of regulation.

The authors demonstrate that delegation of the authority for accounting standard setting to the private sector in Japan is incomplete, and thus, the role of the public sector remains important. In the discussion about IFRS implementation in Japan, the movement in the United States, industry opinions, and ideological conflict between fair value versus historical cost, play important roles. These elements combined led to the ambiguous coexistence of four sets of accounting standards in Japan. Firstly, by using an explaining-outcome process-tracing method, the authors examine how these sets of standards occurred and explore the significance of each. Secondly, they deliver an explanation of this unique coexistence through the lens of theories of regulation. In doing so, they provide an overview of the history of the recent development of accounting regulation in Japan and offer an up to date response to current affairs or policy debates in Japan that have been rapidly changing.

Providing a rare insight into accounting regulation in Japan, an IFRS non-application country, this concise text will be of great interest to researchers and advanced students in international accounting and accounting regulation.


"This theoretically-informed history of the internationalisation of accounting standards in Japan opens up the 'black-box' of this multi-standard context. It carefully explains how standards have evolved in Japan over the past twenty years. As such, it provides a ready reference for students of international accounting and particularly for those interested in the Asia-Pacific region". — Dr Carolyn Cordery, Professor at Aston University, Birmingham, UK and Associate Professor Victoria University of Wellington, New Zealand

"The Japanese response to the rise of International Financial Reporting Standards in the early 2000s has several unique features. Everyone interested in the tensions that may arise when global standardization of financial reporting meets local conditions will benefit from the thoughtful analysis in this book." — Kees Camfferman, Vrije Universiteit Amsterdam, the Netherlands

"A most interesting review and analysis of recent developments in the evolution of Japan's accounting regulation experience. Combining historical narrative with theories of regulation valuable insights are provided into the reasons underlying the unique complexities of Japanese accounting standard setting." — Sidney Gray, Professor of International Business, University of Sydney, Australia

"Accounting Regulation in Japan deserves to be fully embraced by every person interested in international accounting research and practices, even for those interested in conducting business in Japan. Professors Sanada and Tokuga walk us through a complex process of evolution diversity where four different sets of accounting standards emerge as the interaction of an international accounting standards trend and unique Japanese economic situations and regulatory concerns. This book is a must-read in the area of international accounting theory and practices." — Dr Shuen-Zen Liu, Professor and Chairperson, Department of Accounting, National Taiwan University

Table of Contents

Introduction 1. Background 2. Accounting regulation in Japan 3. Interplay between Japan’s accounting standards and theories of regulation Conclusions

About the Authors

Masatsugu Sanada, Ph.D., joined Kyoto Tachibana University in April 2019 as Associate Professor in Accounting, Faculty of Contemporary Business, having previously been Associate Professor at Shujitsu University. Sanada entered the Graduate School of Economics at Kyoto University as a mature student and obtained his PhD in 2012.

Yoshihiro Tokuga, Ph.D., is Professor of Accounting at the Graduate School of Management, Kyoto University. He is President of the Japan Accounting Association, former President of Asian Academic Accounting Association, and former Vice-President of International Association of Accounting Education and Research. He also serves as the Chairman of Business Accounting Council of the Financial Services Agency of Japan.

About the Series

Routledge Focus on Accounting and Auditing

Accounting and auditing have evolved and expanded as areas of research. This evolution presents challenges for readers trying to keep up with the latest important developments and debates. Routledge Focus on Accounting and Auditing presents concise books on important topics and how they impact on the world of accounting.

Individually, each title in the series provides coverage of a key topic, whilst collectively, the series forms a comprehensive collection across accounting and auditing research.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Accounting / General
BUSINESS & ECONOMICS / International / Accounting
BUSINESS & ECONOMICS / Accounting / Standards (GAAP, IFRS, etc.)
BUSINESS & ECONOMICS / Corporate Governance