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Business trends

M&A needs spur Japan's largest companies to adopt global accounting

IFRS now accounts for one-third of Tokyo's market cap

International accounting standards are now applied to about one-third of the Tokyo Stock Exchange's total market capitalization.   © Reuters

TOKYO -- Intense acquisition activity is driving Japanese companies to adopt international accounting standards, with 204 saying at the end of June they either already have or will adopt them, a 20% increase on the year.

The companies account for 6% of those listed on the Tokyo Stock Exchange, but because many of them are large, International Financial Reporting Standards are applied to about one-third of the market's overall capitalization.

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