Fujitsu Limited
Fujitsu Completes Financial Services Agency's New EDINET System
-New system supporting XBRL-formatted financial reporting begins operations today-
Tokyo, March 17, 2008 — Fujitsu Limited today announced that it has completed development of the Japan Financial Services Agency's (FSA) new EDINET system(1), an electronic system for publicly listed corporations to file financial reports in accordance with the Financial Instruments and Exchange Law. As the FSA is mandating the submission of XBRL-formatted(2) reports to EDINET beginning with the 2008 fiscal year, the new system began operations today.
The new system supports XBRL, a computer language for structuring financial information. With the internationalization of financial reporting standards, XBRL has become a globally accepted method of formatting data. At the leading edge of this trend, the EDINET system will accelerate the generation, distribution, and utilization of XBRL-formatted financial reports.
Road to the New System
Currently, various discussions on global financial reporting standards are underway. At the same time, the need to create an efficient global supply chain for the distribution of financial information has been rising. Under such international environment, led by the XBRL Consortium, the standards-setting body for XBRL, lively debates surrounding the adoption of XBRL are taking place worldwide.
The FSA announced in March 2006 its plan to optimize systems and administration for financial reporting, making the decision to adopt XBRL. The adoption of XBRL will not only improve the accuracy of the financial reports submitted by individual corporations, but also enable investors, analysts, and the media to readily process and analyze the information.
Features of the New System
The new EDINET system is built around Fujitsu's Interstage XWand middleware, which is being sold globally in over 20 countries. Designed to meet the latest XBRL 2.1 Specification, EDINET is a cutting-edge system that has gathered worldwide attention. Based on submitted XBRL-formatted financial reports, it automatically generates HTML images that are compliant with FSA regulations.
Fujitsu's XBRL Projects
Amid various global efforts to standardize the disclosure of corporate information, Fujitsu has actively participated in various XBRL standard-setting consortiums around the world, particularly XBRL International, XBRL Japan, and XBRL US, working to promote XBRL standardization. In addition to the development of the new EDINET system, Fujitsu is committed to provide total support for customers adopting XBRL, ranging from consulting services, XBRL middleware (Interstage XWand), to system integration solutions.
Fujitsu recently announced the May 1 launch of XWand Tool for EDINET, a new software tool that allows users without advanced knowledge of XBRL to easily create XBRL-formatted financial data for the EDINET System.
Glossary & Notes
- 1 EDINET:
- Acronym for "Electronic Disclosure for Investors Network."
- 2 XBRL:
- Extensible Business Reporting Language. A standardized international computer language for generating, distributing, and using various types of financial reporting information.
About Fujitsu
Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting device technologies, highly reliable computing and communications products, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that create infinite possibilities for its customers' success. Headquartered in Tokyo, Fujitsu Limited (TSE: 6702) reported consolidated revenues of 5.1 trillion yen (US$43.2 billion) for the fiscal year ended March 31, 2007. For more information, please see:http://www.fujitsu.com/
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