The finance industry has undergone significant transformation over the years due to its rapid modernization. The functioning of this industry has been greatly influenced by authorities, institutions, and formal governing bodies. However, accounting firms are the backbone and unsung heroes of the entire system, ensuring seamless and organized operations that keep everything running smoothly.

Accounting services are essential for a comprehensive approach that guarantees financial stability and regulatory compliance. In order to cater to the needs of businesses in Africa and Japan, there is one remarkable accounting firm that stands out: Kasai & Company. With their exceptional accounting and advisory services, they have established themselves as a trusted partner for companies seeking excellence in this field.

In conversation with Yuga Kasai, CEO of Kasai and Company

Q .Why did you decide to establish a Japanese accounting and consulting firm? When you first launched the business, did you have any idea how vast the market was?

Kasai & Company was created as the Japanese branch of the Africa Accounting Advisory Group, which focuses on accounting and consulting in Africa. The establishment of this branch serves several strategic purposes:

1. Enhancing Reliability and Brand Image: By founding a company in Japan, we aim to bolster the trust of our Japanese clientele. A local office in Japan provides a tangible presence that reassures customers, thereby enhancing our brand image and credibility.
   
   
2. Strengthening Market Access and Customer Support: Japanese customers often hesitate to engage directly with African companies due to unfamiliarity with the market and a lack of information. By establishing a company in Japan, we facilitate easier communication and engagement for Japanese clients. Removing obstacles like international money transfers and language barriers makes it easier for Japanese customers to use our services.

This move strengthens our position in Japan and improves the support and accessibility we offer to our customers.

Q .Which services does Kasai and Company provide?

At Kasai & Company in Japan, we specialize in cross-border due diligence, preparing consolidated financial statements for Japanese companies, financial planning, capital policy support, government subsidy assistance, research on African countries, and market entry support for Japanese businesses.

Additionally, our consulting services encompass international tax advisory, bookkeeping, budget management, and internal control audits. We proudly extend our support beyond Japan, assisting companies in other regions, such as Singapore.

Q .What unique challenges did your firm face in Japan, and how did they contribute to your company's growth?

When Japanese companies expand into international markets, they must adhere to International Financial Reporting Standards (IFRS). As accounting consultants, we have played a crucial role in helping them adapt to these standards. This has made us a well-known firm globally in this field.

To ensure the growth and success of companies, it is crucial to identify effective fundraising strategies. By offering optimal solutions, we empower businesses to secure the necessary funds for their development. Our unwavering support in this realm has emerged as a cornerstone of our company's strength.

Companies that expand internationally must adhere to the tax systems of different countries. We provide expert advice on international taxation and help companies reduce tax risks so they can expand abroad with confidence. Our unique expertise makes us the only Japanese accounting consulting firm proficient in both African and Japanese tax systems.

Q .Which initiatives of the Kasai and Company team do you remember most vividly? How did the company's experience improve the project's end product?

One of the most memorable initiatives at Kasai & Company was conducting cross-border due diligence for a global company with operations in the United States, several European countries, and Africa. We carried out comprehensive tax and financial due diligence, coordinating with accounting firms in each respective country for tax regulations outside of Africa while managing all financial due diligence internally at Kasai & Company.

Leading various accounting firms, each dealing with different national tax systems, and consolidating their work into a single deliverable, was a significant challenge. However, this experience allowed us to enhance our collaboration with accountants from different countries and improve the quality of our services. As a result, we now provide more comprehensive and integrated solutions to our clients.

Q .How important is innovation for the company? What steps has the company taken to promote and nurture innovation within its team?

Innovation is essential even for consulting firms, and at Kasai & Company, we recognize its importance in maintaining our competitive edge. We have implemented several key initiatives to foster and support innovation within our team:

1. Strengthening Remote Work and Collaboration Tools

Since the COVID-19 pandemic, remote work has become more prevalent. However, we have been ahead of the curve by using Skype for remote communication since our founding in 2015 and introducing Zoom in 2018. This early adoption allowed us to continue operations smoothly when the pandemic struck.

To accommodate our clients' preferences, we also use tools such as WhatsApp, Slack, Messenger, and email, ensuring seamless communication without imposing unfamiliar platforms on our clients.

2. Enhancing Task Management Tools

As a global firm operating in seven countries, our representatives do not limit their work to their own regions. They leverage their strengths to support services in other countries, sharing information and enhancing each other's knowledge. Many companies expanding into Africa aim to enter multiple countries, and we cover major African markets to facilitate smoother support for their expansions.

Given the complexity of cross-border management, we utilize task management tools to visualize our operations, with Kasai & Company in Japan playing a central role. By adopting such tools, we ensure that we maintain high-quality services in line with current technological advancements.

These initiatives highlight our commitment to innovation, enabling us to provide exceptional services to our clients while adapting to the ever-changing global landscape.

Q .What are Kasai and Company’s plans for the future?

Our aim is to promote investment and facilitate market entry from Japan to Africa. By doing so, we aspire to foster a vibrant synergy between emerging local companies and international Japanese firms. We aim to create opportunities for local innovators and Japanese businesses to collaborate and grow together, fostering dynamic connections between entrepreneurship and cross-border cooperation.

Q .Would you like us to highlight something important happening in your company that we may have missed asking about?

We assist clients in formulating their financial plans and capital strategies, which indirectly support their fundraising efforts and have contributed to raising approximately $10 million to date. We have also conducted due diligence for local companies, aiding in investment projects. Advisory clients have praised us for enabling them to focus on their core business. Recently, we were recognized by Asia Business Outlook as one of the "Top 10 Most Promising Back Office Support Service Providers in Japan," by Global Business Leaders as one of the "20 Companies Who Are Escalating Innovation in the Market in 2023," and by The Silicon Review as one of the "30 Best CEOs of the Year 2024."

Meet the CEO

Yuga Kasai is the CEO of Kasai and Company. He is a Certified Public Accountant in Japan and Rwanda, specializing in management accounting. After working as a lecturer at a certification school, an auditing firm, a consulting company, and an accounting firm, Yuga completed an MBA at Keio Business School. He then established Africa Accounting Advisory, the first Japanese accounting firm in Africa, and currently operates accounting offices in Kenya, Uganda, Tanzania, Rwanda, Nigeria, and South Africa. With ten years of practical experience in Africa and insights from working with numerous companies, Yuga has supported many Japanese companies in local research, market entry, and management support. Additionally, Yuga serves as an external auditor, director, and CFO for several Japanese companies.

“When Japanese companies expand into international markets, they must adhere to International Financial Reporting Standards (IFRS). As accounting consultants, we have played a crucial role in helping them adapt to these standards. This has made us a well-known firm globally in this field.”