ABeam Consulting Establishes Global Support for J-SOX Compliance

ABeam Consulting Limited (based in Chiyoda-ward, Tokyo and headed by Mr. Kazumasa Nishioka, CEO. Hereinafter described as ABeam Consulting) announced that they have established a new division "J-SOX Initiative" with 200 consultants to strengthen global support for Japanese companies that need J-SOX compliance for their overseas offices and subsidiaries. The so-called "J-SOX Act" will be enforced for Japanese listed companies and their consolidated subsidiaries from fiscal year starting April 2008 onwards. J-SOX requires the development and operation of Internal Controls and establishing an Internal Control assessment process for sites that have a major impact on the consolidated global financial report. This may include overseas offices and subsidiaries of the listed companies which are required to comply with this act. If this is the case, they have to establish internal control in accordance with the policy prepared by their Japan Headquarters. ABeam Consulting provides various consultancy services to overseas offices of clients in local languages. For J-SOX specifically, it has now inaugurated a "J-SOX Initiative" division, which is focused on working with its overseas offices to meet the clients needs. 13 regional representatives (Principal level) are conducting business to strengthen internal controls and to support the assessment process of clients. Services offered include establishing a global approach for Company-level controls and business process controls, developing a compliance methodology, testing and evaluation of controls solutions for remediation and business improvement, information sharing and knowledge transfer, training and aligning with vendors solutions and tools. ABeam Consulting can therefore provide ideal project management, assigning appropriate consultants and delivering hi-quality services with respect to clients global requirements.

There are now approximately 200 consultants providing services to domestic and overseas offices of clients. Among these, almost all multi-lingual consultants working overseas have US-SOX experience and have been trained for J-SOX. They bring relevant experience and provide immediate value by utilizing "ABeam ICMS Framework" *, the methodology of ABeam Consulting. Clients will be able to establish their Internal Control system successfully, within the limited remaining time frame, without concerns of resource shortage and communication quality, by utilizing the expertise that ABeam Consulting has developed, through it's numerous global projects working in a multinational environment.

On 28th June, ABeam Consulting will hold a seminar "Responding Operationally to J-SOX - An Overview for Executives" in Houston, Texas U.S. (sponsored by JPMorgan Chase Bank, N.A., speech by ABeam Consulting). Similar events have been held globally in other countries. Future events are also planned to meet the demands of our clients.

Yousuke Nakano, representative of the "J-SOX Initiative" division, commented as follows. "Regarding us as a global consulting firm headquartered in Japan, we have been supporting clients overseas businesses through our offices in major 14 countries. J-SOX compliance to overseas offices is the area we can demonstrate our advantage. With the ABeam ICMS Framework that has been adopted by many companies, and our achievements with global project management, we believe our service can contribute in strengthening the Internal Controls globally and in establishing the Internal Control assessment process for your company.