１. Accounting (Source:Shukan Keiei Zaimu”)
～Enhancing Listing Rules for Mothers～
The Tokyo Stock Exchange recently announced “Measures to Improve Listing Rules to Revitalize and Enhance Reliability of the Mothers Market”. The main outline is as follows: (1) Requiring listing applicants to be audited by a listed company audit firm that is registered with the Japanese Institute of Certified Public Accountants, (2) Diversifying information sources concerning applicants, (3) Applying delisting criteria equivalent to that in the main market (first and second section of the Tokyo Stock Exchange) for companies listed on the Mothers for more than 10 years, etc. Due to tougher delisting rules, companies representing approximately 10% of current market capitalization are expected to delist from the market. On the other hand, the Tokyo Stock Exchange, while imposing stricter controls, has also adopted measures to stimulate Initial Public Offering.
No topics in this issue for Taxation.
～Subsidy Program for Projects Promoting Asian Site Location in Japan～
As part of its long-term growth strategy, the Japanese government has decided to adopt preferential treatment for projects promoting foreign companies to establish their Asian headquarters in Japan (Japanese investment projects involving the establishment of Asian regional headquarters and/or major R&D centers). In relation to this move, the government is now accepting applicants for the “Subsidy Program for Projects Promoting Asian Site Location in Japan”, which was approved under the fiscal 2010 supplementary budget.
The subsidy will cover up to one-half to one-third of the material costs (land, facilities, equipments and design fees etc.) related to the project of setting up Asian regional headquarter functions and/or R&D facilities in Japan. The public application period is from February 9 to March 22 (noon). JETRO is the secretariat of this program and will be in charge of receiving and screening applications as well as administrating the grants.
The URL of the subsidy program is as follows;
Nagamine & Mishima can provide assistance with this program. Please feel free to contact us if you have any questions.
４. This Week’s Words of Wisdom
(Source: NHK “GIFT–The World of Famous E-Quotes“)
“The future starts today, not tomorrow”
(Pope John PaulⅡ)
This word sharpens our lazy minds, which tend to make excuses in everyday life.