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Rapid Development of securities Rapid Development of securities market brought by XBRLmarket brought by XBRL
Taizo NishimuroTaizo NishimuroChairman of the boardChairman of the board
TOKYO STOCK EXCHANGE, INC.TOKYO STOCK EXCHANGE, INC.
12th XBRL INTERNATIONAL CONFERENCE12th XBRL INTERNATIONAL CONFERENCE
in TOKYO , JAPANin TOKYO , JAPAN
7 November 2005 7 November 2005
2
Domestic Market Capitalization Domestic Market Capitalization (Sep,2005) (USD billions)(Sep,2005) (USD billions)
1,203
2,477
2,920
5,996
9,817
11,984
25,855
26,073
30,357
35,250
39,542
131,674
0 20,000 40,000 60,000 80,000 100,000 120,000 140,000
542
676
777
834
1,072
1,109
1,272
1,585
2,279
2,318
3,013
3,170
0 500 1,000 1,500 2,000 2,500 3,000 3,500
Number of listed companiesNumber of listed companies (Sep, (Sep,2005)2005)
New York
JAPAN Tokyo
NASDAQ
LONDON
Euronext
JAPAN Osaka
Deutsche
Hong Kong
KOREA
Shanghai
Singapore
Shenzhen
NASDAQ
LONDON
JAPAN Tokyo
New York
KOREA
Euronext
Hong Kong
JAPAN Osaka
Shanghai
Deutsche
Singapore
Shenzhen
3
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
January February March April May June July August September
Total Value of Share Trading Total Value of Share Trading (2005)(2005) (in millions of USD) (in millions of USD)
NYSE
NASDAQ
LONDON
JAPAN TokyoEURONEXT
Deutsche BörseKorea(KRE)
ShanghaiHong Kong
Shenzhen
SingaporeJAPAN Osaka
10,000
15,000
20,000
25,000
30,000
35,000
40,000
1-Apr
1-May
1-Jun
1-Jul
1-Aug
1-Sep
1-Oct
Total Value of Share Trading Total Value of Share Trading (2005)(2005) (in millions of JPN YEN) (in millions of JPN YEN)
Tokyo Stock Exchange
4
Investment trends by investor Investment trends by investor category (1993-2005)category (1993-2005)
5%
10%
15%
20%
25%
30%
Indivisual Bank, Securities firm etc Insurance Company
General Company Foreigner
7.6%
17.2%
20.3%
21.9%
Foreign Investors Foreign Investors 23.7%23.7%
33.3%
35.7%
26.8%
12.9%
33.7%
31.3%
53.0%
29.6%
11.6%
23.1%
5.8%
19.2%
16.1%
9.9%
11.3%
34.8%
54.5% 26.9% 5.7% 8.5%
0% 20% 40% 60% 80% 100%
Cash Insurance Bond Stock other
123,919 billion
324,368 billion
56,295 billion
35,368 billion
49,550 billion
JAPANJAPAN
U.S.A.U.S.A.
U.K.U.K.
GermanGerman
FranceFrance
The state of personal financial The state of personal financial asset holdings (2004)asset holdings (2004)
5
Stock Price Index (TOPIX and S&P500)Stock Price Index (TOPIX and S&P500)
900
950
1000
1050
1100
1150
1200
1250
1300
1350
1400
03
/10
/1
03
/12
/1
04
/2/1
04
/4/1
04
/6/1
04
/8/1
04
/10
/1
04
/12
/1
05
/2/1
05
/4/1
05
/6/1
05
/8/1
S&P500S&P500
==TOTOkyo Stock kyo Stock PPrice rice IIndendeXX
6
Present situation of electronic disclosurePresent situation of electronic disclosure
Legal Legal disclosuredisclosure
(FSA)(FSA)
Listed Listed companiescompanies
TimelyTimely disclosuredisclosure
(TSE)(TSE)
investorinvestorssMedia institutions, etc.Media institutions, etc.
Web Real-time serviceWeb Real-time service
Database ServiceDatabase Service
TDnetTDnetImmediateImmediateInternetInternet
ImmediateImmediate
31 DAYS , Free31 DAYS , Free
5 YEARS , Fee Charge5 YEARS , Fee Charge
InternetInternet
Internet , TV Internet , TV , , Information Information terminals, terminals, etc.etc.
EDINETEDINET
FSA’s Web siteFSA’s Web site
Reading rooms at Local Reading rooms at Local Finance Bureaus, etcFinance Bureaus, etc
ImmediateImmediateInternetInternet
TTimely imely DDisclosure isclosure netnetworkwork
Electronic Disclosure for Investors' NETwork
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What is the TDnet (Timely Disclosure What is the TDnet (Timely Disclosure network)?network)?TDnet (which is a timely TDnet (which is a timely
disclosure network system)disclosure network system)【【 Operations began in April Operations began in April
19981998】】(1)(1) Submit and register disclosure data to the Submit and register disclosure data to the
TSE onlineTSE online
(2) Give explanations of disclosure data to the (2) Give explanations of disclosure data to the TSE over the phoneTSE over the phone
(3) Output disclosure data on TDnet terminals set (3) Output disclosure data on TDnet terminals set at media institutionsat media institutions
(4) Obtain certificates (at any time after (4) Obtain certificates (at any time after disclosure)disclosure)
(5) Enable the public to view disclosure data (5) Enable the public to view disclosure data (TSE’s web site, TDnet database service)(TSE’s web site, TDnet database service)
* The public can view the data on the TSE’s Web * The public can view the data on the TSE’s Web site site ((http://www.tse.or.jp/) or by using the database service.
All Listed companies in JapanAll Listed companies in Japan(Tokyo ,Osaka ,Nagoya ,Fukuoka,(Tokyo ,Osaka ,Nagoya ,Fukuoka, Sapporo ,JASDAQ ,Green-Sheet)Sapporo ,JASDAQ ,Green-Sheet)
InvestorsInvestorsContractorsContractors
MediaMediainstitutions,etc.institutions,etc.
Web Real-timeWeb Real-timeserviceservice
DatabaseDatabaseServiceService
IssueIssuecertificatescertificatesRegisterRegister
TDnetTDnet
8
Usage of XBRL in TD-netUsage of XBRL in TD-net XBRL is used for inputting numerical data such as Earning Digests, XBRL is used for inputting numerical data such as Earning Digests,
Corrections, etc. Corrections, etc. If data are input into special disclosure software provided by TSE, If data are input into special disclosure software provided by TSE,
both XBRL format and PDF format (disclosure material) data will both XBRL format and PDF format (disclosure material) data will be produced at the same time. be produced at the same time.
Numerical data are accumulated as XBRL format in database.Numerical data are accumulated as XBRL format in database.
Reference format of Earning Reference format of Earning DigestDigest
Taxonomy
XBRL
CSV
HTML
Automatically Conversion
9
Input by Input by XBRLXBRL
Timely Disclosure ( by XBRL )Timely Disclosure ( by XBRL )
Listed companies
Tokyo Stock Exchange
Future image centering on the TSEFuture image centering on the TSE XBRL technologies will be consecutively utilized to receive and deliver timely disclosure XBRL technologies will be consecutively utilized to receive and deliver timely disclosure
information.information. XBRL technologies will be consecutively utilized to provide 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 In particular, the taxonomy for statutory disclosure operated by the Financial Services
Agency (FSA) and the taxonomy for timely disclosure will be made consistent.Agency (FSA) and the taxonomy for timely disclosure will be made consistent.
Web Service
Media institutions,
etc.
Investors
Output Output by XBRLby XBRL
10
TSE’s enlightenment activities on XBRLTSE’s enlightenment activities on XBRL 1.1. Trial opening of XBRL data (within this fiscal year)Trial opening of XBRL data (within this fiscal year) TSE plans to TSE plans to open the XBRL data as a trial,open the XBRL data as a trial, hopefully by the end of this fiscal year.hopefully by the end of this fiscal year.
Issues incorporated into data: issues used in the TOPIX core 30Issues incorporated into data: issues used in the TOPIX core 30 Information incorporated into data: preliminary report of business results cInformation incorporated into data: preliminary report of business results c
oncerning final settlement of accounts (on a consolidated basis)oncerning final settlement of accounts (on a consolidated basis) Expected time of opening: Within fiscal 2005Expected time of opening: Within fiscal 2005
2.2. Opening of XBRL enlightenment websiteOpening of XBRL enlightenment website A website for providing information on XBRL was set up in November.A website for providing information on XBRL was set up in November.
http://www.tse.or.jp/listing/xbrl/
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TOKYO STOCK EXCHANGE, INC.TOKYO STOCK EXCHANGE, INC.
http://www.tse.or.jp