TOWA FOOD Service Withdraws from Accounting Standards Organization

TOKYO, Jul 17 (Pulse News Wire) – Towa Food Service CO.,LTD. (3329.T) has withdrawn from the Financial Accounting Standards Foundation as of March 31, 2014.

The company stated that while it previously joined the organization, it now maintains appropriate understanding of accounting standards through regular communication with audit firms and tax advisors, participation in seminars, and continuous information gathering via publications. In addition, Towa Food Service emphasized that there are currently no plans to rejoin the foundation but will reassess based on future circumstances.

The company's representative, CEO Shinjiro Kishino, confirmed their commitment to ensuring timely and accurate adherence to accounting standards without formal membership. The decision reflects the company’s ongoing efforts to maintain robust internal controls and ensure compliance with evolving regulatory requirements.