diff --git a/compiler/testData/codegen/box/classes/classObjectAsStaticInitializer.kt b/compiler/testData/codegen/box/classes/classObjectAsStaticInitializer.kt
index a28080869ad..d9175424f8e 100644
--- a/compiler/testData/codegen/box/classes/classObjectAsStaticInitializer.kt
+++ b/compiler/testData/codegen/box/classes/classObjectAsStaticInitializer.kt
@@ -1,6 +1,3 @@
-// Enable for JS when it supports initializer of companion objects.
-// TARGET_BACKEND: JVM
-// see https://youtrack.jetbrains.com/issue/KT-11086
 var global = 0;
 
 class C {
diff --git a/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/ClassesTestGenerated.java b/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/ClassesTestGenerated.java
index 77f4bf5b732..f58fcce933f 100644
--- a/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/ClassesTestGenerated.java
+++ b/js/js.tests/test/org/jetbrains/kotlin/js/test/semantics/ClassesTestGenerated.java
@@ -37,12 +37,6 @@ public class ClassesTestGenerated extends AbstractClassesTest {
         doTest(fileName);
     }
 
-    @TestMetadata("classObjectAsStaticInitializer.kt")
-    public void ignoredClassObjectAsStaticInitializer() throws Exception {
-        String fileName = KotlinTestUtils.navigationMetadata("compiler/testData/codegen/box/classes/classObjectAsStaticInitializer.kt");
-        doTest(fileName);
-    }
-
     @TestMetadata("classObjectToString.kt")
     public void ignoredClassObjectToString() throws Exception {
         String fileName = KotlinTestUtils.navigationMetadata("compiler/testData/codegen/box/classes/classObjectToString.kt");
@@ -131,6 +125,12 @@ public class ClassesTestGenerated extends AbstractClassesTest {
         doTest(fileName);
     }
 
+    @TestMetadata("classObjectAsStaticInitializer.kt")
+    public void testClassObjectAsStaticInitializer() throws Exception {
+        String fileName = KotlinTestUtils.navigationMetadata("compiler/testData/codegen/box/classes/classObjectAsStaticInitializer.kt");
+        doTest(fileName);
+    }
+
     @TestMetadata("classObjectField.kt")
     public void testClassObjectField() throws Exception {
         String fileName = KotlinTestUtils.navigationMetadata("compiler/testData/codegen/box/classes/classObjectField.kt");
diff --git a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/ClassTranslator.kt b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/ClassTranslator.kt
index fecb36fa1ef..bf630cde09a 100644
--- a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/ClassTranslator.kt
+++ b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/ClassTranslator.kt
@@ -90,7 +90,7 @@ class ClassTranslator private constructor(
         val nonConstructorContext = context.innerWithUsageTracker(scope, descriptor)
         val delegationTranslator = DelegationTranslator(classDeclaration, nonConstructorContext)
         translatePropertiesAsConstructorParameters(nonConstructorContext, properties)
-        val bodyVisitor = DeclarationBodyVisitor(properties, staticProperties)
+        val bodyVisitor = DeclarationBodyVisitor(properties, staticProperties, scope)
         bodyVisitor.traverseContainer(classDeclaration, nonConstructorContext)
         delegationTranslator.generateDelegated(properties)
 
diff --git a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/DeclarationBodyVisitor.java b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/DeclarationBodyVisitor.java
index 9a626770c0e..b18f3796777 100644
--- a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/DeclarationBodyVisitor.java
+++ b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/DeclarationBodyVisitor.java
@@ -19,10 +19,8 @@ package org.jetbrains.kotlin.js.translate.declaration;
 import com.google.dart.compiler.backend.js.ast.*;
 import com.intellij.util.SmartList;
 import org.jetbrains.annotations.NotNull;
-import org.jetbrains.kotlin.descriptors.ClassDescriptor;
-import org.jetbrains.kotlin.descriptors.FunctionDescriptor;
-import org.jetbrains.kotlin.descriptors.Modality;
-import org.jetbrains.kotlin.descriptors.PropertyDescriptor;
+import org.jetbrains.annotations.Nullable;
+import org.jetbrains.kotlin.descriptors.*;
 import org.jetbrains.kotlin.js.translate.context.TranslationContext;
 import org.jetbrains.kotlin.js.translate.general.Translation;
 import org.jetbrains.kotlin.js.translate.general.TranslatorVisitor;
@@ -32,6 +30,7 @@ import org.jetbrains.kotlin.js.translate.utils.TranslationUtils;
 import org.jetbrains.kotlin.psi.*;
 import org.jetbrains.kotlin.types.KotlinType;
 
+import java.util.ArrayList;
 import java.util.List;
 
 import static org.jetbrains.kotlin.js.translate.utils.BindingUtils.getClassDescriptor;
@@ -43,9 +42,19 @@ public class DeclarationBodyVisitor extends TranslatorVisitor<Void> {
     private final List<JsPropertyInitializer> staticResult;
     private final List<JsPropertyInitializer> enumEntryList = new SmartList<JsPropertyInitializer>();
 
-    public DeclarationBodyVisitor(@NotNull List<JsPropertyInitializer> result, @NotNull List<JsPropertyInitializer> staticResult) {
+    @NotNull
+    private final JsScope scope;
+
+    @Nullable
+    private List<JsStatement> initializerStatements;
+
+    public DeclarationBodyVisitor(
+            @NotNull List<JsPropertyInitializer> result, @NotNull List<JsPropertyInitializer> staticResult,
+            @NotNull JsScope scope
+    ) {
         this.result = result;
         this.staticResult = staticResult;
+        this.scope = scope;
     }
 
     @NotNull
@@ -65,6 +74,15 @@ public class DeclarationBodyVisitor extends TranslatorVisitor<Void> {
     @Override
     public Void visitClassOrObject(@NotNull KtClassOrObject declaration, TranslationContext context) {
         staticResult.addAll(ClassTranslator.translate(declaration, context).getProperties());
+
+        if (declaration instanceof KtObjectDeclaration) {
+            KtObjectDeclaration objectDeclaration = (KtObjectDeclaration) declaration;
+            if (objectDeclaration.isCompanion()) {
+                DeclarationDescriptor descriptor = BindingUtils.getDescriptorForElement(context.bindingContext(), declaration);
+                addInitializerStatement(context.getQualifiedReference(descriptor).makeStmt());
+            }
+        }
+
         return null;
     }
 
@@ -115,4 +133,13 @@ public class DeclarationBodyVisitor extends TranslatorVisitor<Void> {
     public Void visitSecondaryConstructor(@NotNull KtSecondaryConstructor constructor, TranslationContext data) {
         return null;
     }
+
+    private void addInitializerStatement(@NotNull JsStatement statement) {
+        if (initializerStatements == null) {
+            initializerStatements = new ArrayList<JsStatement>();
+            JsFunction initializerFunction = new JsFunction(scope, new JsBlock(initializerStatements), "class initializer");
+            staticResult.add(new JsPropertyInitializer(new JsNameRef("object_initializer$"), initializerFunction));
+        }
+        initializerStatements.add(statement);
+    }
 }
diff --git a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/FileDeclaration.kt b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/FileDeclaration.kt
index d4489cc5a2d..a05590303bd 100644
--- a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/FileDeclaration.kt
+++ b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/FileDeclaration.kt
@@ -17,6 +17,7 @@ package org.jetbrains.kotlin.js.translate.declaration
 
 import com.google.dart.compiler.backend.js.ast.JsFunction
 import com.google.dart.compiler.backend.js.ast.JsPropertyInitializer
+import com.google.dart.compiler.backend.js.ast.JsScope
 import com.intellij.util.SmartList
 import org.jetbrains.kotlin.descriptors.PropertyDescriptor
 import org.jetbrains.kotlin.js.translate.context.TranslationContext
@@ -30,8 +31,9 @@ import org.jetbrains.kotlin.psi.*
 
 class FileDeclarationVisitor(
         val context: TranslationContext,
+        scope: JsScope,
         initializers: List<JsPropertyInitializer> = SmartList()
-) : DeclarationBodyVisitor(initializers, SmartList()) {
+) : DeclarationBodyVisitor(initializers, SmartList(), scope) {
 
     private val initializer = JsAstUtils.createFunctionWithEmptyBody(context.scope())
     private val initializerContext = context.contextWithScope(initializer)
diff --git a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/PackageTranslator.java b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/PackageTranslator.java
index b9a99adc3d5..98a2988d6ea 100644
--- a/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/PackageTranslator.java
+++ b/js/js.translator/src/org/jetbrains/kotlin/js/translate/declaration/PackageTranslator.java
@@ -45,7 +45,7 @@ final class PackageTranslator extends AbstractTranslator {
         DefinitionPlace definitionPlace = new DefinitionPlace((JsObjectScope) scope, reference, properties);
 
         TranslationContext newContext = context.newDeclaration(descriptor, definitionPlace);
-        FileDeclarationVisitor visitor = new FileDeclarationVisitor(newContext, definitionPlace.getProperties());
+        FileDeclarationVisitor visitor = new FileDeclarationVisitor(newContext, scope, definitionPlace.getProperties());
         return new PackageTranslator(descriptor, newContext, visitor);
     }