#Japan #Tokyo #Daiwa House #ProShip #ProPlus

ProShip Implements New Lease Accounting System for Daiwa House

ProShip, headquartered in Chiyoda, Tokyo, has recently announced that Daiwa House, one of Japan's largest leasing companies, has adopted its ProPlus system to comply with the upcoming lease accounting standards set to take effect in 2027. This pivotal agreement highlights ProShip's specialized expertise in navigating the challenges posed by the new regulations in the real estate sector.

The transition to the new lease accounting standards presents significant challenges for companies in the real estate industry. With Daiwa House's vast experience in leasing and rental management, they have proactively established a clear approach and completed their system selection promptly. ProShip, with its extensive knowledge and robust support structures, aims to assist Daiwa House in smoothly operating within these new guidelines.

The introduced version, ProPlus Version 6, is specifically tailored to meet the demands of the forthcoming standards. ProShip has dedicated its efforts to delivering comprehensive services that will support companies grappling with the complexities of these new lease accounting requirements.

Background and Challenges Faced by Daiwa House

For over a decade, Daiwa House has been preparing for changes in lease accounting policies. The decision to adopt ProPlus, a system with a 20-plus year history of use, reflects their commitment to mitigating potential disruptions. Key considerations influencing this selection process included:

• - Ensuring compliance with the new lease accounting standards set to be mandatory from the 2027 fiscal year.
• - Minimizing the operational burden on staff while ensuring effective project management.
• - Establishing a reliable system based on extensive implementation and maintenance experience.
• - Managing numerous group companies effectively from a centralized company headquarters.
• - Strategizing operational designs to accommodate a high volume of lease contracts.

Reasons for Selecting ProPlus

Daiwa House chose ProPlus for several compelling reasons:

• - Proven track record with over 5,500 implementations across large enterprises and established relevance in adherence to IFRS 16 standards.
• - Comprehensive support capabilities from proposal to implementation and maintenance.
• - A well-regarded suite of features recognized by a wide range of users.
• - Proven capabilities to manage extensive datasets essential for large corporations.
• - Scalability to adapt to future regulatory changes and function expansions.

ProShip’s Future Support Initiatives

In tandem with its offerings, ProShip has launched the