April 17th, “Reading Japanese Financial Statements as a Board Member” (Course)

This course is now fully booked.

Course Description: This is an intensive full-afternoon session intended tobrush-up (or as they say in Japanese, level-up) participants' familiarity with: a) someof the more complex but important topics that arisein interpreting financial statementsin Japan;b) key emerging issues such as IFRS; and c) how strategy and cash flows are reflected in financial statements.

Approach: The focus of the course will be on examiningactual examples to understand each topic, in order to supplement explanations. Pre-reading will assigned, includingthe actual financial statements of Japanese companies that will beused in the course, and to the extent feasible,articles on specific subjects. Also, we will suggest textbooks for prior or post-course reading depending on the level of accounting knowledge of each participant, in order to firm up understanding of “the basics”(example: http://amzn.to/JJ5eMV ) or to drill down further on on certain topics.

Course Syllabus:

1. Overview about reading and interpreting financial statements
2. Accounting Fraud – one case study; andaset of actual financials
3. The Percentage of Completion Method – one company in legal trouble
4. Differences between IFRS and Japanese GAAP – revenue recognition
5. Business Combinations -two examples ofmajorcompanies' financials
6. Accounting for Income Tax -financials of amajor electronics firm

Date and time: April 17th, from 1:30 pm to 6:00 pm

Place: Offices of TSI International Group KK (board room)
Place Canada 3F
7-3-37 Akasaka, Minato-ku

(This location is in the building in front of the Canadian Embassy in Aoyma; map: http://bit.ly/OOj2lf )

Charge: Yen 30,000 per person.
Over-flow applications:first-paid, first-served basis.

To Apply: Register on-line:

Instructor: Mikiharu Noma

Associate Professor, Financial Strategy
Graduate School of International Corporate Strategy

Mikiharu Noma graduated from the Faculty of Commerce of Hitotsubashi University in 1997. His areas of specialty include competitive strategy, financial accounting, valuation, and disclosure. In 2002 and 2003 he served a Lecturer of the Faculty of Commerce at Yokohama City University, where in 2003 and 2004, he was appointed as a Associate Professor. Thereafter he moved to the Graduate School of International Corporate Strategy at Hitotsubashi University. He his various papers and publications include the following:

Hedging and Taking Risk: On the Role of Derivatives and Stock Options, Investment Research & Analysis Journal, Vol.1 No.2, Fall 2006;

The valuation of R&D expenditures in Japan Accounting and Finance, Vol.50 No.4, December 2010, pp.899-920, with P. Nguyen and S. Nivoix; and

Analyst Herding Around Management Forecasts in K. Ito and M. Nakano, eds., International Perspective on Accounting and Corporate Behavior, 2014.

Assistant: Nicholas Benes

Representative Director, The Board Director Training Institute of Japan;President and Representative Director, JTP Corporation, K.K.;
Chair, Growth Strategy Task Force,American Chamber of Commerce in Japan; Adjunct Professor, International University of Japan (MBA Program)

Mr. Benes received his B.A. in political science from Stanford University, and a JD-MBA degree from UCLA, after which he worked at JP Morgan for 11 years. He is an inactive member of the bar in California and New York, and is certified as a securities salesman in London and Japan. He was twice-elected Governor of the American Chamber of Commerce in Japan (ACCJ) and long-time Chair of its FDI Committee; and presently chairs the Growth Strategy Task Force. In the past, he was active for many years as a member of the Experts Committee of the Japan Investment Council, an advisory committee to the Japanese Cabinet on FDI policy. He has served as an independent outside director at Alps Mapping, the listed company Cecile Ltd., and Livedoor Holdings (post-scandal). In total he has eight years of experience as a director of various Japanese corporations. In 2010, he was a member of the Financial Service Agency’s Corporate Governance Liaison Committee, which had been formed to provide private sector input to the Ministry of Justice and the Legal Affairs Advisory Council regarding amendment of Japanese Company Law.

The Board Director Training Institute (BDTI) is a "public interest" nonprofit in Japan dedicated to training about directorship, corporate governance, and related management techniques. It is certified by the Japanese government to conduct these activities as a regulated nonprofit. Read a summary about BDTI here, and see a menu of its services for both corporations and investors here.

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