Yaesu Audit & Co.
April 11, 2024
April 11, 2024
January 5, 2024
Ryoji Kuroiwa, from Ark LLC, Japan, shares his testimonial for the Connected Leadership programme, available for all Kreston Global members. Read below what he has to say, or click here to learn more about the 2024 course.
‘I work for Ark LLC in Japan and am mainly engaged in auditing services to listed companies. In addition to auditing work, I am also involved in acquiring new clients and expanding the size of the firm. I used to work at the Tokyo head office for more than 10 years, but I was transferred to Sapporo two and a half years ago following the opening of the Sapporo branch. Tokyo is one of the largest cities in the world with a population of over 10 million, whereas Sapporo has a smaller population of around 2 million. Sapporo is very cold from December to March, and the entire region is covered with snow. During heavy snowfalls, transport is sometimes halted and commuting to work is not possible.’
‘Compared with other countries, Japan is not an open business environment due to the difficulty of communicating in English and high business barriers. Despite this, Tokyo has a great diversity of business, including global projects, due to its large economy. Although we have many competitors, we also have many clients, so I think we are fortunate to be in an environment where there are few inconveniences for any kind of business. When I transferred from Tokyo to Sapporo, I felt a difference in the business environment. People have strong connections in their work. I initially did not know anyone and had to start almost from scratch.’
‘When the Sapporo office opened, there were only two people, including myself, and only two clients, so we worked to acquire new clients. The number of employees has gradually increased and the number of clients has grown by five over the past two and a half years to a total of seven. Some of these clients were approached by us, but it was the human network that made a major contribution here. When I was posted to Sapporo, a few acquaintances introduced me to many people in Sapporo, where I had no personal network, and as a result, my personal network expanded and we were introduced to clients. Fortunately, the acquaintances included us in their network because they had a positive image of the auditing firm I belonged to. We regularly exchange information on a regular basis, and as a result, we are extremely grateful to them for helping us in a time of need.’
‘The Kreston Global training made me realise that we are a globally connected community and that the relationships that come from diversity are very important. During the Connected Leader programme, I learnt that business is accelerated by connecting with people. This is obvious, but not easy to put into practice. Naturally, the other party will think about the kind of people they want to do business with, and in order to connect with each other globally, it is important to have English and business skills, as well as mutual respect for each other due to different environments. I believe that building such a relationship is not something that can be done by using techniques, but by taking into account a variety of factors such as past experience, way of thinking, knowledge, and what one values in one’s work. While the benefits of human networks can be very significant, they are also difficult to build and maintain, but I believe they are a great asset.’
April 19, 2023
January 25, 2023
Japanese foreign investment almost doubled in 2021 and looks to increase in 2023. Liza Robbins, Kreston Global Chief Executive, and Marek Lehocky, CEO of Kreston ProWorks in Japan were recently invited to comment on this increase in foreign investors entering the Japanese market. Read the full Bloomberg article here or the summary below.
The influx of foreign companies increased a decade ago with then-prime minister Shinzo Abe’s push for inbound investment; however, it decreased during the pandemic. Recently, global tensions between the US and China, and China and Taiwan and the weakening yen and a stagnant wages marker saw investment in Japan double in one year. Inward investment figures topped $20 billion in 2021, creating a new market for accounting firms. There is room for more growth in the Japanese tax, accounting, and audit market, which is mostly dominated by the Big Four.
Foreign direct investment is increasing and has been predicted to increase in 2023 by Martin Schulz, chief policy economist of Fujitsu’s Strategy Planning Division. Japanese government data suggest high growth in 2021 for foreign direct investment fields such as communications, chemicals and pharmaceuticals, electrical machinery, and the finance and insurance sectors. Foreign direct investment is also increasing due to the 21 bilateral free-trade agreements Japan has signed in the last few years. Growth prospects for the Japanese tax, accounting, and audit market remain positive, as there is room for growth among small and medium-sized enterprises with overseas businesses.
Marek’s firm Kreston ProWorks joined Kreston Global in 2022, as he is able to offer complementary services to the other two Kreston Global firms that offer auditing services. Liza Robbins, Kreston Global Chief Executive, sees this new partnership with Kreston ProWorks as an investment gateway for Kreston Global clients.
If you are interested in investing in Japan, get in touch.
January 23, 2023
LONDON – Kreston Global has begun 2023 by welcoming eight new member firms on four continents: India, Uganda, Lebanon, Japan, Croatia, Bangladesh, Chile and Taiwan.
The eight new member firms are:
Kreston Croatia was founded by Managing Partner Ivan Pečur who has worked in a number of international accountancy organisations over the last 16 years as an audit partner. He is joined by two other partners.
Bhatia & Bhatia was founded in 1981 and provides audit, tax and accounting services to a range of domestic and international clients. It works closely with a broad base of affiliated chartered accountant firms across all major cities in India.
Kreston HM was founded by Managing Partner Hitesh Mehta in 2005. It provides audit, accounting services and tax advisory to international and local clients from its offices in Kampala and Jinja. It has three partners and 45 staff.
Accurate Accounting & Audit was founded in 2021 and is led by four certified auditors. It has over 20 staff based in its central Beirut offices, providing services to corporate and private clients across the construction and building supplies, professional partnerships, hospitality, retail and sports sectors.
Maria Howlader and Co is based in Dhaka, Bangladesh and comprises 34 employees and offers audit, accounting and tax services to international businesses and foreign subsidiaries based in Bangladesh and overseas.
Kreston ATC Chile is a newly established firm in Chile, based in Santiago. The firm has 24 staff and five partners, and is led by Managing Partner Hans Caro. The firm is made up of previous Kreston partners including Ricardo Gameroff who is already involved with the Kreston network through the Global Audit and Quality
Groups. The firm has a number of international clients and specializes in external and internal audits, taxes, risk advisory, forensics, payroll and bookkeeping.
Top New & Co is based in Taipei, Taiwan and is returning to the Kreston network after a few months away. Run by Yashu Hung, who is the lead audit partner, together with two other audit partners and a staff of 20, they offer audit and accounting services to a range of privately owned and not-for-profit organisations.
2022 saw Kreston Global holding its hugely successful network-wide conference in Madrid, the first in-person conference the network has held since the pandemic began. 2022 also saw the launch of its first Environmental, Social and Governance Advisory Committee, launch of new international steering groups for Internal Audit, Transfer Pricing and Life Sciences, and lastly a flagship thought leadership report, ‘The Interpreneur Mindset’.
Liza Robbins, Chief Executive of Kreston Global, said:
“It is with great pleasure that I welcome our latest joiners to the Kreston Global network. To have eight firms join in a short period is a major achievement, but to have eight firms of this calibre join is a significant testament to our depth and breadth.
“In recent years we have spent a great deal of time evaluating and fine-tuning our strategy. We have listened closely to our members, working with them on a range of areas and launching a number of exciting new initiatives. I am excited to move into 2023 with both our existing and new colleagues as we continue to develop our proposition to the entrepreneurial business community.”
Get in touch to talk about how Kreston Global firms can help your expanding business in these eight countries.
February 8, 2022
January 14, 2022
July 8, 2021
July 2, 2021
Sector: Leisure & Hospitality, Retail
Otafuku Foods Co. Ltd was founded in 1922 in Japan. It mainly provides liquid, solid and semi-solid seasoning products such as sauces and vinegars for condiment manufacturers and other food companies. It has developed into one of the largest seasoning products manufacturers in Japan and continues to grow in North America.
In order to promote a Japanese food culture in China and develop the Chinese market, Otafuku Foods Co., Ltd established Otafuku Foods (Qingdao) Co., Ltd in China in 2012.
As a Japanese production enterprise, it is really critical to have standardized financial accounting processes that can accurately deal with local tax policies and regulations in China and ensure strong tax compliance. Otafuku Foods (Qingdao) Co., Ltd appointed Brighture to help them with this.
Brighture’s team consists of financial and tax consultants, senior accountants and auditors who collaborate to ensure problems are solved quickly, who understand the company’s business model and more importantly can provide solutions to help improve and enhance operations.
Over the last 9 years, Otafuku Foods and Brighture have worked closely together on the growth of their business, their markets and their customers. Brighture has also helped them to develop new ideas and additional partners to help them grow new business areas, such as high-tech providers and maternity leave outsourcing services.
“Since its establishment in 2012, Otafuku Foods (Qingdao) Co., Ltd has been consulted and guided by Brighture in accounting, taxation, auditing and other aspects of finance and taxation. With professional services, Brighture answers relevant financial and tax questions, standardizes financial accounting of enterprises, helps enterprises prevent and control financial and tax risks, and establishes a foundation for the development of enterprises, which is worthy of customers’ trust and long-term cooperation.”
Mr. Huiming Luo
GM at Otafuku Foods (Qingdao) Co., Ltd
June 22, 2021
June 10, 2021