Big Four Tap Market for English Translation on Tokyo Exchange

A new requirement for companies listed on the Tokyo Stock Exchange to translate key financial disclosures from Japanese into English is creating a business opportunity for Big Four accounting firms.

At least two of the Big Four—Deloitte and PwC—have increased staff to help companies meet the mandate, which takes effect in April for the top 1,639 prime market companies listed on the exchange. The requirement is meant to help the foreign investors who own nearly 32% of shares in Japanese companies. A 2023 survey by the exchange found that 72% of those investors were unhappy with information available ...