Evolution of XBRL in Asia

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1 Evolution of XBRL in Asia XBRL Europe Day & Eurofiling Workshop in Frankfurt Yoshiaki Wada, Member of Board of Director of XII, NTT DATA Corporation December 13th, 2012

2 Global XBRL projects - Consortium Activities - Expanding in more than 50 countries! NL SE DE NO FI IAS B LU DK PL CZ HU RU CA US CO VZ IR UK SP PT BE FR CH MT IT SI AT UA TR GR LB RO AE TK IN CN MY KR JP BR SG ID Established Jurisdiction Provisional Jurisdiction Having interest AR IFRS adoption IFRS convergence ZA AU NZ Other Countries with Interest in XBRL Hong Kong, Taiwan, Indonesia, Thailand, Chile, Iraq, Kazakhstan, etc. International, Inc. Source: XBRL APAC Area

3 Major Update of XBRL Activities in Asia Ⅰ. Feedback from XBRL 25 in Yokohama Ⅱ. XBRL Asia Roundtable F2F Meeting during the X25 Ⅲ. Updates on the Major Projects in Asia and Oceania Region

4 Ⅰ. Feedback from XBRL 25 in Yokohama

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8 Feedback from XBRL 25 in Yokohama - XBRL 25 was held on November 6 th to 8 th, in Yokohama Japan. It was the 6 th XBRL International Conference in the Asia and Oceania Region. - Although the slowdown of worldwide economic activities and the hurricane Sandy s attack to the US, more than 300 attendees joined. - At the main stage, speakers from JFSA, IFRS Trustee, Tokyo Stock Exchange, MoF of China, Carbon Disclosure Project, GRI-Global Reporting and Bank of Japan delivered the presentations.

9 Feed Back from XBRL 25 in Yokohama (Symposia) - Three Specific Symposia were held, including Using XBRL for Disclosures, Strategies and Techniques for Processing Large Instance Documents and Demonstrating XBRL Data in USE. - These covered the latest important topics. Intensive discussion and deep insights were exchanged. (Track Sessions) - 8 Tracks, including Insurance, Assurance, XSB, Interactive Expo, Regulators, XBRL in Nonfinancial Domains, Academic and Business Intelligence Data Analytics were held and intensive dialogue was done.

10 Ⅱ. XBRL Asia Roundtable F2F Meeting during the X25

11 What is XBRL Asia Round Table The XBRL Asian Roundtable (XART) is a regional initiative providing an opportunity for members of the XBRL community in Asia and Oceania countries to: - Exchange information on existing and proposed projects - Deepen their understanding of the latest technical developments in XBRL specifications and taxonomies - Learn new ways in which other countries in the region are leveraging XBRL

12 Our Track Record Our activity took the style of Combination of Asia Workshop in member countries and F2F Meeting at International Conference - Regular Workshop has been hosted once a year by Asian Jurisdictions alternately - F2F meeting has been held during the International Conference to complement the dialogue between Regular Workshops

13 Our Track Record 1 st XBRL Asia Workshop in Japan - Held in Tokyo, March 10-11, Jointly hosted by Bank of Japan and XBRL-Japan 2 nd XBRL Asia Workshop in India - Held in Mumbai, February 17-18, Jointly hosted by SEBI and XBRL-India 3 rd XBRL Asia Workshop in Singapore - Held in May 10-11, Hosted by ACRA (Accounting and Corporate Regulatory Authority)

14 Agenda for F2F Meeting in Yokohama 1. An update on XBRL project and activities from around the region 2. A technical session on some latest topics; (a) Technical features of the Data Point Model and Table Linkbase (b) Tuning of Formula-Link performance (c) Other technical topics 3. An introduction of following activities - GRC-XML - CDP (Carbon Disclosure Project) - IFRS - XII Membership Development Committee - JFCPTAA(Japan Federation of Certified Public Tax Accountants Associations) 4. A planning session for the 4 th Asia Roundtable Workshop in 2013

15 Announcement of the next XBRL Asia Workshop The 4 th XBRL Asian Workshop will be held in Shanghai China in Q1 of 2013

16 Updates of Major Projects in Asia and Oceania Region

17 Some Case Studies

18 China(1/3) Initially, two stock exchanges, Shanghai and Shenzhen, implemented XBRL for their in-house data processing. Then the Ministry of Finance (MOF) became the competent accounting authority in China, and took the leadership of XBRL activities. Began a follow-up study of the development of XBRL technology early in 2001 Decided to start the program for the Chinese Accounting Standard (CAS) General Purpose Taxonomy in 2007 In November 2008, the MOF joined other relevant authorities to found the China Accounting Informationization Committee (the CAIC) and XBRL China In October 2010, CAS Taxonomy as an extension of IFRS taxonomy was released at the 21st XBRL International Conference in Beijing

19 China(2/3) (Implementation in 2011) 15 large SOEs mainly listed on the NYSE including PetroChina and some other Fortune 500 companies were asked to submit XBRL instance Then, 12 accounting firms, filed XBRL financial reports for their audit clients (591 domestically listed A-share companies) joined

20 China(3/3) (Implementation in 2012) Application across large SOEs continued, involving new implementers such as China Mobile 82 large local SOEs were selected by the local financial authorities to submit the taxonomy In addition, 18 banks, including all the listed banks, whose total assets account for 70% of that of China s banking sector were involved the project.

21 Indonesia(1/2) Bank Indonesia s XBRL Project (Project Background) New Information Requirement for Islamic Banking - New information requirement to accommodate new Indonesian Islamic GAAP, new regulatory requirement, new Islamic banking products, Monetary statistics, and Payment System statistics Financial Supervisory Transition to FSA in Developing Financial Reporting System that could accomodate Bank Indonesia and FSA information requirements (LSMK)

22 Indonesia(2/2) Bank Indonesia s XBRL Project(cont.) (Technical Challenges) Big data and raw data The need of raw data to support the business XBRL Islamic Financial Reporting Developing XBRL Taxonomy for Islamic Banks Monthly Reporting with reference to Islamic accounting standard Integrating prudential, risk, monetary, and public credit registry Create one XBRL Taxonomy to address the requirement for Prudential, Risk, Monetary, and Public Credit Registry

23 Japan(1/5) The Bank of Japan(1/2) Go-live of the New Financial Database System in August BOJ s mainstay database on FSIs data. - More than 7.8 million time-series data Mainframe RDB Server-Client RDB/XBRL Hybrid XBRL XLS Punched TXT R D B XBRL XLS Punched CSV RDB Taxonomy Instance TXT CSV XBRL

24 Japan(2/5) The Bank of Japan(2/2) Changing Format of Annual Financial Reports to XBRL in April All financial institutions of BOJ s counterparties have moved to XBRL reporting. - Data accuracy has been improved by XBRL. Number of spreadsheets (Excel files) Monthly reports Annual financial reports 77 files 550 files Number of input items Approx. 16,000 Approx. 50,000 Formulas Approx. 2,300 Approx. 10,000

25 Japan(3/5) The Tokyo Stock Exchange 1998: First generation TDnet - Digital disclosure evolves from hardcopy disclosure - Financial data provided in PDF and CSV format 2003: Second generation TDnet - XBRL introduced for the first time in the world - Receipt of financial data in XBRL financial statements 2008: Third generation TDnet - XBRL introduced substantially - Provision of financial data in XBRL format commences 2014: Forth generation TDnet(tentative) - Apply XBRL to disclosure data (non-financial information including notes to financial statement, etc.) - Adopt new technology of XBRL

26 Japan(4/5) The Financial Service Agency of Japan(1/2) FSA of Japan launched the first generation of EDINET system (Electric Disclosure for Investors NETwork) in 2001, then gradually improved its function based upon XBRL. Current system covers; Approx. 4,000 companies (mainly listed companies) Approx. 3,300 investment funds FSA is planning to start the project of Next Generation EDINET in 2013

27 Japan(5/5) The Financial Service Agency of Japan(2/2) Scope of the Next Generation EDINET - Expansion of XBRL Scope To cover FS notes and non-financial sections To cover 15 report type from current 4 type (Total Coverage of XBRL : 48.5% 81.8%) - Improvement of Search Function - Providing analytical functions of disclosure document - Annual Operation Cost Reduction First Generation( ): 1,390 million yen( 17m USD) Second Generation ( ): 740 million yen ( 9mUSD) Third Generation(2013-):570million yen( 7mUSD)

28 Evaluation of the Current Situation(1/2) Since the first success of XBRL implementation by Korea and Japan, it took some time to motivate the neighbor countries to start XBRL. However, the range of implementation is now expanding across the region - Mainly by Regulators and Stock Exchange. Such momentum to motivate neighbor countries to implement XBRL is growing faster - Enhancing the new entry to XBRL activity

29 Global XBRL projects - Financial Regulator / Central Bank - European Banking Association Central Bank of Belgium Bank of Netherland Central Bank of Lithuania Central Bank of Romania Financial Supervisory Service Bank de Espana Bank de France Bank of Japan FFEIC(FDIC, OCC, FRB) Bank Negara Malaysia Central Bank of Panama Reserve bank of India Central Bank of Brazil Ministry of Finance in Brazil Bank of Indonesia Central Bank of Argentina Notes Joint Project Solo Project Under Development 29 Copyright 2011 NTT DATA CORPORATION Source: XBRL International

30 Global XBRL projects (continued) - Stock Exchange - Oslo Istanbul Toronto Teheran KOSDAQ Israel Dubai Shanghai Tokyo NSE Shenzhen BSE Taiwan Thai Johannesburg Buenos Aires Notes Joint Project Solo Project NZX 30 Copyright 2011 NTT DATA CORPORATION Under Development Source: XBRL International

31 Belgium SEC EDGAR FSA of Japan, EDINET Securities Commission of Malaysia Singapore(ACRA) Australia (APRA) New Zealand Notes Joint Project 31 Copyright 2011 NTT DATA CORPORATION Solo Project Under Development Source: XBRL International

32 Global XBRL projects (continued) - Tax Filing - HMRC of UK Ireland NTA of Japan New Zealand Notes Joint Project Solo Project Under Development Copyright NTT DATA CORPORATION Source: XBRL International

33 Evaluation of the Current Situation(2/2) On the other hand, these movements create a series of new challenges to XBRL activities. -e.g. Demand for so-called Large Instance Processing, Detailed Transaction Reporting Data, adaptation to wider range of accounting rules such as Islamic Banking Expectation on XBRL society is increasing to correctly respond these emerging demands

34 What is Next Step? Further Enhancement of XBRL activities within each countries. - One of the most important nature of XBRL is the potential to become a social infrastructure. - Once XBRL is recognized as a social infrastructure, wider enhancement of the implementation can be expected. In order to improve the understanding of XBRL, county wide promotion activity is essential. Establishing jurisdiction activity is one of the key to better promotion.

35 Mission of XBRL Asia Round Table Enhance the Mutual Communication between Members in the Region Support the Establishing of Jurisdiction - Exchange the know-how of basic jurisdiction management, funding and membership development Communication with International XBRL Society

36 Thank you for your attention.

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