In this section, you should be able to discuss the various/critical factors that governs the Japanese

economy and the corporate entities in terms of financial reporting and business practices etc. Some

example (e.g., traditional, rudimental, modern, and one that may have been influenced by some

events/agreements- political, trade, taxation, economic, etc.) that shows a stark or clear difference

in the trend with the existing international regime of financial reporting. Your discussion should

what are the chiefly focus on the available literature on IFRS convergence in Japan and other countries. In order

that your discussion is coherent enough, you should be able to reflect/identify certain theories in

support/against the IFRS convergence. You can show this by relevant examples demonstrating to

some extent, a deeper and or providing some useful "insight(s)" about Japan's financial reporting

system for your reader.