Rapid Development of securities market brought by XBRL

1
Rapid Development of securities market brought by
XBRL
12th XBRL INTERNATIONAL CONFERENCE in TOKYO ,
JAPAN 7 November 2005

• Taizo Nishimuro
• Chairman of the board
• TOKYO STOCK EXCHANGE, INC.

2
Domestic Market Capitalization (Sep,2005) (USD
billions)
Number of listed companies (Sep,2005)
New York
NASDAQ
JAPAN Tokyo
LONDON
NASDAQ
JAPAN Tokyo
LONDON
New York
Euronext
KOREA
JAPAN Osaka
Euronext
Deutsche
Hong Kong
Hong Kong
JAPAN Osaka
KOREA
Shanghai
Shanghai
Deutsche
Singapore
Singapore
Shenzhen
Shenzhen
3
Total Value of Share Trading (2005) (in millions
of USD)
Total Value of Share Trading (2005) (in millions
of JPN YEN)
Tokyo Stock Exchange
NYSE
NASDAQ
LONDON
JAPAN Tokyo
EURONEXT
Deutsche Börse
Korea(KRE)
Hong Kong
Shanghai
Shenzhen
JAPAN Osaka
Singapore
4
Investment trends by investor category (1993-2005)
The state of personal financial asset holdings
(2004)
Foreign Investors 23.7
JAPAN
123,919 billion
21.9
U.S.A.
20.3
324,368 billion
17.2
U.K.
56,295 billion
German
7.6
49,550 billion
France
35,368 billion
5
Stock Price Index (TOPIX and SP500)
SP500
TOkyo Stock Price IndeX
6
Present situation of electronic disclosure
Reading rooms at Local Finance Bureaus, etc
Legal disclosure (FSA)
EDINET
Internet
Immediate
FSAs Web site
Electronic Disclosure for Investors' NETwork
investors
Internet , TV , Information terminals, etc.
Listed companies
Media institutions, etc.
Timely disclosure (TSE)
Internet
Immediate
Web Real-time service

TDnet
31 DAYS , Free
Timely Disclosure network
Internet
Immediate
Database Service
5 YEARS , Fee Charge
7
What is the TDnet (Timely Disclosure network)?

• TDnet (which is a timely disclosure network
  system)
• ?Operations began in April 1998?
• Submit and register disclosure data to the TSE
  online
• (2) Give explanations of disclosure data to the
  TSE over the phone
• (3) Output disclosure data on TDnet terminals set
  at media institutions
• (4) Obtain certificates (at any time after
  disclosure)
• (5) Enable the public to view disclosure data
  (TSEs web site, TDnet database service)
• The public can view the data on the TSEs Web
  site (http//www.tse.or.jp/) or by using the
  database service.

All Listed companies in Japan (Tokyo ,Osaka
,Nagoya ,Fukuoka, Sapporo ,JASDAQ ,Green-Sheet)
Issue certificates
Register
TDnet
Web Real-time service
Database Service
Media institutions,etc.
Investors
Contractors
8
Usage of XBRL in TD-net

• XBRL is used for inputting numerical data such as
  Earning Digests, Corrections, etc.
• If data are input into special disclosure
  software provided by TSE, both XBRL format and
  PDF format (disclosure material) data will be
  produced at the same time.
• Numerical data are accumulated as XBRL format in
  database.

Reference format of Earning Digest
XBRL
CSV
Automatically Conversion
HTML
Taxonomy
PDF
9
Future image centering on the TSE

• XBRL technologies will be consecutively utilized
  to receive and deliver timely disclosure
  information.
• XBRL technologies will be consecutively utilized
  to provide timely disclosure information.
• In particular, the taxonomy for statutory
  disclosure operated by the Financial Services
  Agency (FSA) and the taxonomy for timely
  disclosure will be made consistent.

Timely Disclosure ( by XBRL )
Tokyo Stock Exchange
Web Service
Listed companies
Investors
Output by XBRL
Input by XBRL
Media institutions, etc.
10
TSEs enlightenment activities on XBRL

• 1.Trial opening of XBRL data (within this fiscal
  year)
• TSE plans to open the XBRL data as a trial,
• 
  hopefully by the end of this fiscal year.
• Issues incorporated into data issues used in the
  TOPIX core 30
• Information incorporated into data preliminary
  report of business results concerning final
  settlement of accounts (on a consolidated basis)
• Expected time of opening Within fiscal 2005
• 2.Opening of XBRL enlightenment website
• A website for providing information on XBRL was
  set up in November.
• http//www.tse.or.jp/listing/xbrl/

11

• TOKYO STOCK EXCHANGE, INC.
• http//www.tse.or.jp