Layers Consulting and First Accounting Sign Partnership Agreement

First Accounting Inc. (Headquarters: Minato-ku, Tokyo, President & CEO: Keitaro Mori, hereinafter "First Accounting"), which realizes accounting singularity, and Layers Consulting Inc. (Headquarters: Shinagawa-ku, Tokyo, Representative Director & CEO: Takashi Sugino, hereinafter "Layers"), a consulting firm with high expertise originating in Japan, have signed a partnership agreement. The objective is to solve challenges in the accounting domain, including preparation for the new lease accounting standard applicable from the business year starting on or after April 1, 2027.

Through this partnership, for companies proceeding with business reforms and system development related to regulatory compliance, a support system will be established by combining Layers' meticulous implementation support consulting with the solution of an AI agent specialized in new lease accounting standards provided by First Accounting.

■ Background and Aims of the Partnership

The new lease accounting standard, scheduled for application in 2027, is a significant regulatory reform that will affect not only accounting treatment but also contract management, business processes, and systems. It requires diverse and extensive deliberations and preparations, including business design and operational structures.

Layers, through its consulting in accounting, business, and IT domains, has been supporting companies' business reforms and system implementations. It positions the response to the new lease accounting standard as one of the key themes in the accounting domain and has been considering an approach that balances regulatory compliance with business reform.

As a preparatory step for the application of the new lease accounting standard, "Establishment of Basic Policy" (study sessions on new standards, discussion of key issues, formulation of basic policy document) is a major point. However, we have heard numerous voices stating that there are no clear guidelines and they are unsure how to begin. Layers, leveraging over 40 years of experience in management accounting support and its many specialized professionals, can provide supportive assistance from the beginning to the end of standard application.

First Accounting supports the efficiency and advancement of accounting operations through the development and provision of its AI "Deep Dean" and accounting AI agents specialized in accounting tasks. In the process of applying the new lease accounting standard, the utilization of AI agents specialized in accounting operations is one of the concrete options. The systems provided by First Accounting are indeed systems that can handle various cases in this domain.

This agreement will enable First Accounting and Layers Consulting to provide one-stop support to customers facing difficulties in the process of applying the new lease accounting standard. Both companies will leverage their respective expertise to support the sustainable advancement of corporate operations.

■ Comment from Rintaro Sugino, Director, Business Division Manager, Management Accounting Division, Certified Public Accountant, Layers Consulting Inc.

Responding to the new lease accounting standard is an opportunity to transition to management that is conscious of the balance sheet and to review contract management and fixed asset management operations. On the other hand, it is necessary to review contracts broadly, and many companies are so busy dealing with standard compliance that they have not been able to capitalize on this opportunity.

Therefore, by partnering with First Accounting, which has strengths specialized in AI and accounting fields, we will significantly improve the efficiency of lease determination in contracts, which requires the most man-hours, and will provide many companies with the realization of business process efficiency and advanced management through our company's strengths.

■ Comment from Keitaro Mori, President & CEO, First Accounting Inc.

The response to the "new lease accounting standard," which is currently a hot topic, is a theme that requires significant transformation for many companies, including a review of their operational practices.

We have great expectations that this partnership with Layers Consulting will lead to practical support that considers both regulatory compliance and business operations.

We will continue to strengthen our collaboration with partner companies and, by reducing the workload in accounting and finance, including the new lease accounting standard, we will create a world where accounting professionals can contribute to increasing company profits and corporate value.

● About Layers Consulting Inc.

Founded in 1983, Layers Consulting Inc. is an independent consulting firm originating in Japan with 555 consultants. We, as a "fighting creative group," are on a mission to support our clients to survive in a rapidly changing environment as a power engine through the realization of open innovation and the breaking of internal conventional wisdom. In a wide range of areas including the construction and implementation of management accounting systems, reconstruction of accounting systems, reform of personnel and accounting operations, construction of personnel and talent management systems, design of personnel systems, cost planning, cost management, product development process development, reconstruction of business strategy, new business development, and promotion of digital transformation, we provide consulting services for approximately 1,000 projects to about 500 leading domestic companies.

Company Name: Layers Consulting Inc.

Location: Meguro Central Square, 3-1-1 Kami-Osaki, Shinagawa-ku, Tokyo

Established: December 1983

Representative: Takashi Sugino, Representative Director & CEO

URL: https://www.layers.co.jp/

Consulting Areas:

1. Management Accounting (Accounting)

2. Business Strategy (New Business/M&A) / Marketing

3. Supply Chain (Design, Production, Logistics)

4. Human Resources (Organization/Personnel)

5. DX/ERP/AI (Information)

6. Business Process Outsourcing (BPO)

● About First Accounting Inc.

[Achieving Accounting Singularity, Removing Constraints, and Giving Confidence and Courage]

First Accounting is a company that promotes the automation and efficiency of accounting operations by realizing accounting singularity. We deploy proprietary services, developed using generative AI and computer vision, to the accounting departments of many large corporations and accounting vendors. By achieving "Accounting Singularity," we aim to solve the labor shortage in accounting departments and create an environment where accounting professionals can focus on strategic accounting that contributes to improving corporate value.

Company Name: First Accounting Inc. (TSE Growth: 5588)

Location: Shibakoen Park Building A, 3F, 2-4-1 Shibakoen, Minato-ku, Tokyo

Established: June 2016

Representative: Keitaro Mori, President & CEO

URL: https://www.fastaccounting.jp/

Business Description: Accounting AI Business (AI Solutions Specialized in Accounting)

- AI Module for Accounting Operations "Robota Series"

- Platform for Invoice Processing "Remota"

- Digital Invoice Transmission/Reception Service "Peppol Access Point"

■ Inquiries Regarding This Matter

Layers Consulting Inc.

Contact: Marketing Department

Phone: 03-5791-1189

First Accounting Inc.

Contact: Public Relations Representative

E-mail: press@fastaccounting.co.jp

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