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- Financial statements of any corporation now become available in the XBRL format - Teikoku Databank, Ltd. (hereinafter called TDB; Minato-ku, Tokyo; President Nobuo Goto) has developed a framework to provide the financial data of over 500,000 companies--both listed and non-listed--in a form of Extensible Business Reporting Language (XBRL). By this, any financial statement prepared by the Japanese companies can be offered in the XBRL formats. Lately, adoption of XBRL as an international standard language for electronic financial information has been proceeding at a rapid pace, along with the progress of the e-Japan strategy promoted by the government of Japan. In April 2003, the Tokyo Stock Exchange introduced the XBRL format into TDnet (Timely Disclosure Network System) as a standard format used for disclosed information including summarized settlement reports. In addition, the National Tax Agency adopted XBRL as a standard format for e-file and e-tax in February 2004. In order to describe own financial condition clearly in its financial statements, corporations are generally using accounting items that are unique to each. Therefore, several hundred thousands of different accounting items are being used in financial statements. However, such uniqueness in the accounting items has been causing complexity in entering and processing of data on the user's side. Then, using the XBRL format data is considered to solve such problems. To increase usability of data, TDB has built a system to consolidate the accounting items of a nonconsolidated-base financial statement to 577 and of a consolidated base statement to 744, and provided those financial data. In February 2004, TDB developed another system to convert such data into the XBRL format data. As a result, financial data of every corporation in Japan has become available in the XBRL format. In other words, 2,870,000-term worth of nonconsolidated-base data for 520,000 corporations as well as 10,000-term worth of consolidate-base data for 3,500 corporations can be used under the XBRL specification. *About XBRL XBRL (eXtensible Business Reporting Language) is an XML-based language standardized so as to create, transfer and use data for financial reporting. The XBRL specification enables creation, transfer and reuse of electronic financial information regardless of software and platforms that it is in. Therefore, with XBRL, all parties related to supply chain of financial information, such as listed/non-listed companies, accountants, supervising agencies, annalists, investors, capital market participants, software firms and information service companies, can reduce cost for provision of financial information and use precise financial data more quickly.
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