BDO Signs Japanese Merger Deal

BDO the accountancy firm has signed a deal with a Japanese practice to establish a member firm in the country early next year.

BDO’s existing firm Sanyu and Co will merge with Toyo and Co to form the new member firm, which will be called BDO Japan KK.

The combined firm will have more than 600 partners, working out of four offices and is expected to generate a fee income of €61m (£51.9m) for the year ending 2010.

Jun Sugit, CEO of BDO Japan KK, said the latest merger will make BDO the fifth largest firm in Japan.

Masashi Yoshida, previously Toyo and 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.”

Jeremy Newman, CEO of BDO International, commented: “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 .”