• Register
Return to: Home > News > Tax > BDO Japan merges with Hongo Tsuji Tax Co

BDO Japan merges with Hongo Tsuji Tax Co

Japanese tax firm Hongo Tsuji Tax Co has merged with BDO Japan’s tax practice adding 16 offices and 390 staff to BDO’s tax operation.

The merged entity will trade under the name BDO Tax Co and work alongside BDO Japan KK, BDO’s audit firm in Japan. Under Japanese law, audit and non-audit businesses need to be split.

The addition means BDO now has 1,000 staff and is predicted to earn revenues of ¥12bn (€156m) in fiscal 2012.

BDO is now comfortably the fifth largest firm in Japan behind PwC, which earned ¥58.3bn in the year to 30 June 2010. Grant Thornton, placed sixth, earned revenue of ¥6.15bn in fiscal 2010 and BDO’s closest rival.

Managing partner Yoshihiro Hongo said he believes BDO Tax Co will become the third or fourth largest tax firm in the country within the next three years.

“Our larger competitors have only 4% of the tax market share in Japan, so the potential to grow is significant," Hongo said.

"Joining BDO will enable us to grow our market share and we’re already seeing some of the larger firms going through significant downsizing, due to their large exposure to international referral clients which are off-shoring or centralising tax services in lower cost countries such as Malaysia and Singapore.”

Top Content

    Blockchain and the Big Four: does it deserve all the hype?

    Although still in its infancy, blockchain is one of the most talked-about technologies of 2018. Will the blockchain bubble burst, or will it live up to its reputation as the ‘new internet’? Eleanor Jerome investigates

    read more

    Malaysia: Ready to show its strength

    Recent changes have enhanced the quality of audit reports in Malaysia, giving the profession a welcome opportunity to demonstrate its value to clients. Paul Golden reports

    read more

    China: Regulating the Chinese dragon

    Harsh regulatory actions and looming US trade wars have been dampening expectations in a Chinese market still full of potential, finds Jonathan Minter

    read more

    Indigenous Australians: New checks and balances

    With fewer than 40 known qualified Indigenous Australian accountants, Jonathan Minter speaks to Shelley Cable from PwC Australia about how increasing this number is an important part of improving the financial literacy of Indigenous communities

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.