Fujitsu Deploys XBRL Software at Nomura Research Institute

Fujitsu today announced the deployment of its XBRL⁽¹⁾ software, Interstage XWand V10, within a new data system at Nomura Research Institute, Ltd. (NRI) to help automatically convert and summarize financial information.

The new system complies with XBRL, the international open data standard for financial reporting, and is the core platform for Integrated Data Services⁽²⁾ that leverages NRI's database of investment information. The system can take financial data received from sources such as the Financial Services Agency's EDINET and convert, summarize, and distribute it in different formats to meet individual customer needs. Through the use of Interstage XWand V10, which aids in compliance with the shift towards International Financial Reporting Standards and incorporates XBRL Formula⁽³⁾, the latest XBRL specification, NRI can automate the delivery of financial information produced by its expert data analysts.

Background

In recent years, through the use of systems as the Financial Services Agency's EDINET and the Tokyo Stock Exchange's TDnet, financial data, including financial reports and earnings statements, have come to be distributed in XBRL format, enabling them to be captured and used digitally. However, as users, ranging from financial institutions and corporate investors to analysts and academic institutions, utilize this data in different ways, there has been a demand to develop a way of converting or summarizing information in formats that meet each of their needs.

Overview of System for Automatically Converting and Summarizing Financial Data

NRI's system for automatically converting and summarizing financial data takes information such as financial reports and earnings statements in XBRL format and flexibly processes and distributes it to best suit the needs of the company's clients. Through the use of Fujitsu's Interstage XWand XBRL software, NRI has taken the time-consuming task of manually converting each account item on a financial statement, the essence of financial data analysis, and automates it. Combined with the expertise of its data analysts, NRI can now deliver more flexible and sophisticated financial data processing and analysis services.

About Interstage XWand

Interstage XWand is Fujitsu's software that reduces the time required to build and deploy a system for processing financial data. It is compliant with XBRL 2.1 specification, the international open data standard for financial reporting. Interstage XWand V10 was quick to incorporate XBRL Formula, the latest XBRL specification, and was selected by NRI for use in its system.

Fujitsu released Interstage XWand in 2003. In addition to widespread use in Japan to power systems at organizations like the Tokyo Stock Exchange's TDnet, the product is used by approximately 100 public agencies and corporations in 24 countries around the world. Fujitsu plans to expand the use of the product within organizations that consume financial information as well.

The use of XBRL is expected to become more widespread with the shift to International Financial Reporting Standards. Fujitsu will continue to contribute to the standardization and use of XBRL specifications globally.