Tokyo Stock Exchange Letter Of Public Comment In Response To The UK Financial Services Authority Proposal For A Review Of the

On 29th January a Tokyo Stock Exchange representative will visit the UK Financial Services Authority (UK FSA) in person to present a letter of public comment, in response to the UK FSA's consultation paper CP203 proposing a review of listing rules (published October 2003).

Present UK listing rules allow Japanese companies to publish financial statements in accordance with Japanese accounting standards (JAPAN GAAP).

In its review, the UK FSA is seeking public comment on its proposal to require non-EU companies listed in the UK to use International Accounting Standards (IAS) or US accounting standards (US GAAP).

Since autumn of last year, Tokyo Stock Exchange has been exchanging opinions with the Japan FSA and other related parties regarding international trends in accounting, auditing and disclosure, and has now decided to present the UK FSA with a letter of public comment urging the continued acceptance of Japanese accounting standards in UK capital markets.

Please click here for the Tokyo Stock Exchange's letter of public comment.