Audit Firm HIBISCUS

What Audit Firm HIBISCUS does

Audit Firm HIBISCUS (監査法人ハイビスカス) is a mid-sized Japanese audit corporation headquartered in Sapporo, Hokkaido, founded in December 2005 by five certified public accountants. The firm provides statutory audit services under the Financial Instruments and Exchange Act (FIEA) and the Companies Act, with a client base of approximately 24 companies as of July 2025, including 10 FIEA audits, 4 Companies Act audits, 3 IFRS-related audits, and 7 voluntary audits, plus 13 listed-market clients spanning the Tokyo Stock Exchange Standard and Growth segments, Sapporo Securities Exchange, and TOKYO PRO Market. Following the July 1, 2025 integration of its Tokyo office with UHY Tokyo Audit Corporation, the firm operates primarily from its Sapporo headquarters while maintaining coverage across 10 Japanese prefectures.

The firm operates three integrated service lines: Statutory Audit Services (FIEA, Companies Act, special purpose, and JA agricultural cooperative audits), IPO Support Services (pre-IPO audit, TOKYO PRO Market listing support, internal control design), and International Business Services (RBI network connectivity, referred audits of foreign subsidiaries, overseas IPO support, IFRS implementation). The underlying delivery model relies on a quality management system aligned with International Auditing Standards, partner-led engagement execution, and an Audit Committee plus an external third-party Monitoring Committee member (Kenichi Hayashi, appointed 2022) to satisfy governance requirements following a 2023 FSA business improvement order that was concluded in April 2024. Technology consists of RBI-network audit tools and standardized methodologies rather than proprietary automation.

The go-to-market is relationship-driven B2B professional services, with engagement pricing determined per audit scope and complexity under Japanese law. The firm joined Russell Bedford International in September 2020 as its core international channel, providing access to 143 member firms across 100+ countries for cross-border referrals. The firm holds Listed Company Auditor Registry registration No. 3074 (August 2024) under Article 34-34-2 of the CPA Act. Revenue is not publicly disclosed; with 24 staff including 2 senior partners and 5 partners, the firm is structured as a privately held partnership with no external parent or institutional investor ownership.

Name

Audit Firm HIBISCUS

Legal name

監査法人ハイビスカス

Website

https://audit-hibi.biz

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Audit Firm HIBISCUS is a Sapporo-headquartered Japanese audit corporation providing statutory audits under FIEA and Companies Act, IPO support, and international audit services through the Russell Bedford International network to approximately 24 clients across 10 prefectures.

Ownership category

akta.pro rank

Headquarters

HQ city

Sapporo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Statutory Audit Services: Provides mandatory audit services under the Financial Instruments and Exchange Act (金商法監査) for listed companies from emerging to prime markets, and under the Companies Act (会社法監査) for large companies with capital of 500 million yen or more or total liabilities of 20 billion yen or more.
2. IPO Support Services: Pre-IPO audit services and stock listing consulting including internal control design, efficient financial reporting arrangement, and IPO project member training. Supports companies listing on TOKYO PRO Market and other markets.
3. International Business Services: Audit and review services for foreign company subsidiaries in Japan (referred work), overseas IPO support for Japanese companies, and IFRS implementation consulting.
4. Special Purpose and Agricultural Cooperative Audits: Special purpose financial statement audits and Japan Agricultural Cooperative (JA) audit services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Audit Firm HIBISCUS is a mid-sized Japanese audit partnership providing statutory audit services under the Financial Instruments and Exchange Act and the Companies Act, IPO preparation and listing support, and international business services including overseas IPO advisory and IFRS implementation consulting. The firm leverages its membership in the Russell Bedford International (RBI) network to coordinate cross-border audit engagements and serve foreign-owned subsidiaries in Japan.

Product overview

Audit Firm HIBISCUS is a mid-sized audit firm offering three core service lines: Statutory Audit Services (法定監査業務), IPO Support Services (IPO関連業務), and International Business Services (国際業務). The Statutory Audit Services encompasses Financial Instruments and Exchange Act audits, Companies Act audits, special purpose audits, and agricultural cooperative audits. The IPO Support Services provides preparation audits for stock listings, TOKYO PRO Market support, and stock listing consulting. The International Business Services offers access to the Russell Bedford International global network, referred work for foreign company subsidiaries, overseas IPO support, and IFRS implementation assistance. The three service lines operate as integrated offerings, with the international network enhancing both statutory audit and IPO support capabilities for clients with cross-border operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Statutory Audit Services (法定監査業務) Statutory audit engagements covering Financial Instruments and Exchange Act audits for listed companies (Standard, Growth, Prime markets), Companies Act audits for large companies, special purpose financial statement audits, and JA agricultural cooperative audits, performed by certified public accountants under the firm's quality management system.
• IPO Support Services (IPO関連業務) Pre-IPO audit and stock listing consulting including TOKYO PRO Market listing support, internal control design, efficient financial reporting arrangement, and IPO project member training for companies preparing for initial public offerings on Japanese or foreign exchanges.
• International Business Services (国際業務) Cross-border audit and advisory services including referred audits of Japanese subsidiaries of foreign companies (referred work for overseas primary auditors), overseas IPO support for Japanese companies, IFRS implementation consulting, and access to the Russell Bedford International network spanning 100+ countries.

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and secondary.

• UHY東京監査法人 (UHY Tokyo Audit Corporation)coreStrategic or Co-development Partner · 1 July 2025Planned business integration of HIBISCUS Tokyo Office with UHY Tokyo Audit Corporation effective July 1, 2025. All partners and staff from Tokyo Office will transfer to UHY Tokyo. HIBISCUS Sapporo Office continues operations independently. UHY Tokyo HQ: Tokyo Stock Exchange Building 4F, 3-1-1 Ohsaki, Shinagawa-ku.
• Russell Bedford Malaysia (RBM)secondaryStrategic or Co-development Partner · 10 March 2025RBI member firm established in 2003, joined RBI in 2004. Provides audit, tax, and accounting consulting services. Supports Japanese companies entering Malaysia since 2007. Exchange meeting held March 10, 2025 at Sapporo office covering quality management systems, quality control activities, and audit tools.
• Russell Bedford International (RBI)coreStrategic or Co-development Partner · 1 January 2020International accounting and auditing network headquartered in London, UK. Joined in September 2020, changing English name to Russell Bedford Hibiscus. Network comprises 100+ countries, 350+ offices, 143 member firms, ranked 18th largest internationally with 7,500+ staff. Provides IFRS/IAS training, annual quality control reviews, and global conference participation.

Scale indicators5 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• ひびき監査法人 (Hibiki Audit Corporation): Mid-sized Japanese audit firm providing statutory audit, IPO support, and IFRS-related services. Directly comparable in scale, service lines, and listed-company client focus to Audit Firm HIBISCUS.
• 東陽監査法人 (Crowe Toyo): Crowe Global-affiliated mid-sized Japanese audit firm offering statutory audits, IPO readiness, and international services. Comparable service portfolio and target segments to HIBISCUS, particularly for TSE-listed and IPO-preparing companies.
• BDO三優監査法人 (BDO Sanyu & Co.): BDO-affiliated mid-sized Japanese audit firm offering statutory audits, IPO support, and international services. Highly comparable service mix and listed-company focus, similar in mid-sized positioning to HIBISCUS.
• 令和監査法人 (Reiwa Audit Corporation): Japanese mid-sized audit firm offering statutory audit, IPO support, and advisory services to listed and pre-IPO clients. Comparable in service lines, client segments, and mid-sized agility positioning to HIBISCUS.
• 三優監査法人 (Sanyu Audit Corporation): Mid-sized Japanese audit firm providing statutory audits, IPO support, and IFRS-related services to listed and pre-IPO companies. Highly comparable in service mix, client segment, and mid-sized positioning to Audit Firm HIBISCUS.
• 太陽有限責任監査法人 (Grant Thornton Taiyo): Grant Thornton Japan member firm offering statutory audit, IPO support, and advisory services to listed and growth-stage companies. Closely comparable in offering mix and mid-sized audit positioning, with international network parallels to HIBISCUS's RBI membership.

Broad incumbents

• EY新日本有限責任監査法人 (Ernst & Young ShinNihon LLC): Big Four Japanese statutory audit firm with deep coverage of TSE Prime issuers. Competes with HIBISCUS for listed-company audit mandates and IPO readiness, but at vastly larger scale and with global Big Four resources.
• 有限責任監査法人トーマツ (Deloitte Touche Tohmatsu LLC): Big Four Japanese statutory audit and advisory firm serving major listed corporates. Competes with HIBISCUS for audit and IPO mandates, particularly at the upper end of the listed-company segment.
• 有限責任 あずさ監査法人 (KPMG AZSA LLC): Big Four-affiliated Japanese statutory audit firm serving major listed companies across all exchanges. Overlaps directly with HIBISCUS on statutory audits and IPO work, but operates at materially greater scale and breadth.
• PwCあらた有限責任監査法人 (PricewaterhouseCoopers Aarata LLC): Big Four Japanese audit firm providing statutory audit, IPO, and advisory services. Overlaps with HIBISCUS on statutory audits of listed companies and IPO support, with substantially broader scale and capability.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Audit Firm HIBISCUS