Notice of Web Site Launch
We are excited to announce the launch of our new website, Japan Business Concierge. https://japanbusinessconcierge.com/ Companies seeking to enter the Japanese market often face difficulties in obtaining up-to-date and relevant information about Japanese laws, taxes, and business practices. We, Quantum Accounting, can navigate [pilot] you through this complex market so that you can reach your …
Introduction of our audit/attestation and advisory service
A common challenge foreign companies with relatively small subsidiaries in Japan face is monitoring over the operation of the Japanese subsidiary. Especially when it comes to financial reporting. This might not be an issue for companies that engage with the large international audit firms like PwC, Deloitte, KPMG and EY. Their counterparts in Japan will …
SPAC Raises Funds 100 Times Larger Than the Entire Tokyo Stock Exchange
What is a SPAC? Evo Acquisition, a blank check company targeting the tech and financial industry, on February 9th raised approximately $109 million. Following the surge of IPOs by other black check companies, Evo Acquisition plans to list on the Nasdaq under the symbol of EVOJU. Evo Acquisition is a special purpose acquisition company (SPAC), …
Mandatory English Financial Disclosures Coming to the Tokyo Stock Exchange
Starting with English disclosures of quarterly financial information A Nikkei article on March 15, 2019 caught our attention. “Tokyo Stock Exchange to reduce first section listings by 30% – Market cap requirement to be raised and English disclosures mandated” https://asia.nikkei.com/Business/Markets/Tokyo-Stock-Exchange-to-reduce-first-section-listings-by-30 There is an ongoing deliberation at the Tokyo Stock Exchange to reduce the number of …
Happy New Year!!
Wishing Everyone a Happy New Year! May all your dreams, wishes, and KPI targets come true. Quantum Accounting Team, Tokyo 2019
A Guide to the US Capital Markets for Japanese Companies Vol.4
A Company with Zero Revenue Conducts an IPO on Nasdaq In May of this year (2018), a Singaporean pharmaceutical company, ASLAN Pharmaceuticals, conducted an IPO on Nasdaq. For the 2017 fiscal period immediately preceding its IPO, ASLAN had zero consolidated revenue and a pre-tax loss of $40 million (approx. 4.0 billion JPY, converted at $1=100 …
A Guide to the US Capital Markets for Japanese Companies Vol.2
(C)2013, The NASDAQ OMX Group, Inc. In August 2013, the listing ceremony for UBIC, Inc. (now FRONTEO, Inc.) was held at the Nasdaq MarketSite in New York’s Times Square, where the “Closing Bell” was rung to symbolize the listing. UBIC had officially listed in May of that year. This was the first Nasdaq listing by …
A Guide to the US Capital Markets for Japanese Companies Vol.1
NTT DoCoMo and Kyocera delisting from NYSE in 2018 In April 2018, NTT DoCoMo delisted its ADR from the New York Stock Exchange (NYSE). This follows Nippon Telegraph and Telephone Corporation’s (NTT) (holding company of the NTT Group) delisting from the NYSE in April 2017. In February 2018, Kyocera announced that it was also delisting …
SEC proposed changes to Regulation S-K
SEC proposed changes to Regulation S-K Summarized to the Bits SEC issued proposed changes to Regulation S-K. This proposal does not change significantly the current disclosure requirement, however, this revision of Regulation S-K includes a number of minor revisions and thus it is the most extensive revision in 30 years since its issuance. It seems …