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Reorganization within Deloitte Tohmatsu Group
Part of the Risk Advisory business in Deloitte Touche Tohmatsu LLC will be consolidated into Deloitte Tohmatsu Risk Advisory Co., Ltd.
This is an English translation of the announce issued by Deloitte Tohmatsu Group on November 6, 2023. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shall prevail.
Tokyo, JAPAN, 6 November 2023
Deloitte Touche Tohmatsu LLC (Located in Chiyoda-ku, Tokyo; CEO: Koichi Okubo), a company of Deloitte Tohmatsu Group, announced today a reorganization plan within the Deloitte Tohmatsu Group, effective December 1, 2023.
Some teams and functions within Risk Advisory which currently belong to Deloitte Touche Tohmatsu LLC will be transferred to Deloitte Tohmatsu Risk Advisory Co., Ltd. After revising capital relationships among the entities, Deloitte Tohmatsu Risk Advisory Co., Ltd., which is scheduled to become a limited liability company effective December 4, 2023, will no longer be directly owned by Deloitte Touche Tohmatsu LLC and will become a peer company within Deloitte Tohmatsu Group (please refer to Diagram 1 for the organization chart).
With the aim of accelerating the growth of Risk Advisory business and diversifying its offerings, after careful consideration on how the audit entity carries out social responsibility in executing high quality audit and assurance services in accordance with the Certified Public Accountants Act, Deloitte Tohmatsu determined that Deloitte Touche Tohmatsu LLC should focus only on audit and assurance as well as its related services.
Even after the reorganization, Deloitte Tohmatsu Risk Advisory Co., Ltd. (scheduled to become a limited liability company) continues to support audit and assurance services offered by Deloitte Touche Tohmatsu LLC, working closely with other Deloitte Tohmatsu Group entities including Deloitte Tohmatsu Consulting LLC, Deloitte Tohmatsu Financial Advisory LLC, Deloitte Tohmatsu Tax Co., and other entities. The reorganization will not impact audit and assurance services offered by Deloitte Tohmatsu Group.
In addition, Deloitte Touche Tohmatsu LLC will further strengthen its organizational foundation to allow certified accountants and other professionals to continue to offer high quality audit services in a sustainable manner, committed to contributing to the sound and healthy development of capital markets as they strive to meet what is expected of them from economic society.
The reorganization is limited to businesses within Deloitte Tohmatsu Group, hence will not entail separation of non-audit businesses from the Group. Deloitte Tohmatsu Group has five businesses, including Audit & Assurance, Risk Advisory, Consulting, Financial Advisory and Tax & Legal, pursuing a multi-disciplinary model in which professionals of all businesses collaborate closely with each other to provide more value added services.
＜Press Inquiries＞
Deloitte Tohmatsu Group Media Relations: Uchiyama and Kikuchi
Tel: 03-6213-3210 Email: press-release@tohmatsu.co.jp
Professionals
Koichi Okubo
CEO, Deloitte Touche Tohmatsu LLC / Audit & Assurance Business Leader
Atsushi Iwamura
CEO, Deloitte Tohmatsu Risk Advisory LLC
Deloitte Tohmatsu Group (Deloitte Japan) is a collective term that refers to Deloitte Tohmatsu LLC, which is the Member of Deloitte Asia Pacific Limited and of the Deloitte Network in Japan, and firms affiliated with Deloitte Tohmatsu LLC that include Deloitte Touche Tohmatsu LLC, Deloitte Tohmatsu Consulting LLC, Deloitte Tohmatsu Financial Advisory LLC, Deloitte Tohmatsu Tax Co., DT Legal Japan, and Deloitte Tohmatsu Group LLC. Deloitte Tohmatsu Group is known as one of the largest professional services groups in Japan. Through the firms in the Group, Deloitte Tohmatsu Group provides audit & assurance, risk advisory, consulting, financial advisory, tax, legal and related services in accordance with applicable laws and regulations. With approximately 17,000 people in about 30 cities throughout Japan, Deloitte Tohmatsu Group serves a number of clients including multinational enterprises and major Japanese businesses. For more information, please visit the Group’s website at www.deloitte.com/jp/en.
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