BDO signs firm partnership deal in Japan
Top 10 international firm merges with Toyo & Co in Japan to create a new member firm
BDO HAS SIGNED A DEAL with a Japanese practice to establish a member firm in the region, early next year.
Toyo & Co and BDO’s existing firm Sanyu & Co will merge to form BDO Japan KK, the new member firm.
Sanyu & Co was established in 1986 and joined BDO in 1996, while Toyo & Co was founded in 1971.
The combined firm is expected to generate a fee income of €61m (£51.9m) for the year ending 2010.
Masashi Yoshida, previously Toyo & Co partner and incoming chairman of BDO Japan KK, said: “We wanted to be associated with an international network with high quality audit standards and an IFRS-conformed audit tool, as well as a global culture built on respect: BDO was clearly the best choice.”
BDO Japan KK will have more than 600 partners, working out of four offices.
The latest merger means BDO is the fifth largest firm in Japan, said Jun Sugit, BDO Japan KK’s CEO.
Jeremy Newman, CEO of BDO International, said: “I hope that this is the start of the transformation of our presence in Japan and we will now be looking for further opportunities to develop and grow our business, including our tax and advisory services.”