Japan's increasingly merger-friendly environment, its accounting reforms and banking consolidation may all help.

ECONOMIST: Japanese corporate profits

The study examined 580 listed companies across 11 Asian nations and ranked the markets based on five criteria: rules, enforcement, accounting, political and regulatory environment and governance culture.

FORBES: Asian Economies Suffer From Reform Fatigue

There are nowhere near the number of native Mac business applications for higher end accounting, customer relationship management and Office as for a Windows environment.

FORBES: Why Most Businesses Will Keep Buying Microsoft

The investigation also found that during the financial restatement period, this environment of weak financial controls and under-supported accounting functions allowed accounting errors to occur, some of which arose from certain instances of intentional misconduct to improve the financial results of specific business segments.

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Chairman Sheila Bair told Congress in March that accounting rules don't permit banks to build reserves in a benign economic environment, forcing them to increase them when things turn bad.

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