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

Global XBRL projects

- Consortium Activities Expanding in more than 50 countries!
NO

SE NL IAS B LU UK IR US SP BE DE DK

FI
CZ HU

PL

RU

CA

SI
AT TR FR CH GR UA TK CN IN RO AE MY

PT

IT
MT

LB

KR

JP

VZ CO BR

SG

ID

Established Jurisdiction Provisional Jurisdiction Having interest

ZA AR

AU NZ

IFRS adoption IFRS convergence APAC Area Source: XBRL

Other Countries with Interest in XBRL Hong Kong, Taiwan, Indonesia, Thailand, Chile, Iraq, Kazakhstan, etc. International, Inc.

Major Update of XBRL Activities in Asia

. Feedback from XBRL 25 in Yokohama

. XBRL Asia Roundtable F2F Meeting during the X25

. Updates on the Major Projects in Asia and Oceania Region

. Feedback from XBRL 25 in Yokohama

Feedback from XBRL 25 in Yokohama

- XBRL 25 was held on November 6th to 8th, in Yokohama Japan. It was the 6th XBRL International Conference in the Asia and Oceania Region. - Although the slowdown of worldwide economic activities and the hurricane Sandys 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.

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.

. XBRL Asia Roundtable F2F Meeting during the X25

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

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

Our Track Record

1st XBRL Asia Workshop in Japan

- Held in Tokyo, March 10-11, 2010 - Jointly hosted by Bank of Japan and XBRL-Japan

2nd XBRL Asia Workshop in India

- Held in Mumbai, February 17-18, 2011 - Jointly hosted by SEBI and XBRL-India

3rd XBRL Asia Workshop in Singapore

- Held in May 10-11, 2012 - Hosted by ACRA (Accounting and Corporate Regulatory Authority)

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 4th Asia Roundtable Workshop in 2013

Announcement of the next XBRL Asia Workshop

The 4th XBRL Asian Workshop will be held in Shanghai China in Q1 of 2013

Updates of Major Projects in Asia and Oceania Region

Some Case Studies

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

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

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 Chinas banking sector were involved the project.

Indonesia(1/2)
Bank Indonesias 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 2014

- Developing Financial Reporting System that could accomodate Bank Indonesia and FSA information requirements (LSMK)

Indonesia(2/2)
Bank Indonesias 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

Japan(1/5)
The Bank of Japan(1/2)
Go-live of the New Financial Database System in August 2011 - BOJs mainstay database on FSIs data. - More than 7.8 million time-series data.
1991-2011
Mainframe RDB
XBRL
XLS Punched TXT

2011 Server-Client RDB/XBRL Hybrid

XBRL
XLS Punched

Taxonomy

R D B
TXT

CSV

R DB

Instance

CSV

XBRL

Japan(2/5)
The Bank of Japan(2/2)
Changing Format of Annual Financial Reports to XBRL in April 2012 - All financial institutions of BOJs counterparties have moved to XBRL reporting. - Data accuracy has been improved by XBRL.
Monthly reports Number of spreadsheets (Excel files) Number of input items Formulas 77 files Approx. 16,000 Approx. 2,300 Annual financial reports 550 files Approx. 50,000 Approx. 10,000

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 TDnettentative - Apply XBRL to disclosure data (non-financial information including notes to financial statement, etc.)

- Adopt new technology of XBRL

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

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(2001-2008): 1,390 million yen(17m USD) Second Generation (2008-2013): 740 million yen (9mUSD) Third Generation(2013-):570million yen(7mUSD)

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

Global XBRL projects

European Banking Association Central Bank of Belgium Central Bank of Lithuania Bank of Netherland Bank de Espana Bank de France Central Bank of Romania

- Financial Regulator / Central Bank -

Financial Supervisory Service

Bank of Japan

FFEICFDIC, OCC, FRB Central Bank of Panama

Bank Negara Malaysia Reserve bank of India Bank of Indonesia Central Bank of Brazil Central Bank of Argentina

Ministry of Finance in Brazil

Notes

Joint Project Solo Project

Under Development

Source: XBRL International

Copyright 2011 NTT DATA CORPORATION 29

Global XBRL projects (continued)

- Stock Exchange -

Oslo Toronto Istanbul Teheran Dubai Israel Shanghai Tokyo KOSDAQ

Shenzhen
NSE BSE Thai

Taiwan

Johannesburg

Buenos Aires

Notes

NZX Joint Project Solo Project

Under Development

Source: XBRL International

Copyright 2011 NTT DATA CORPORATION 30

Belgium

SEC EDGAR

FSA of Japan , EDINET Securities Commission of Malaysia Singapore(ACRA) Australia (APRA)

New Zealand

Notes

Joint Project Solo Project

Under Development

Source: XBRL International

Copyright 2011 NTT DATA CORPORATION 31

Global XBRL projects (continued)

- Tax Filing HMRC of UK

Ireland

NTA of Japan

New Zealand

Notes

Joint Project Solo Project

Under Development

Source: XBRL International

Copyright 2011 NTT DATA CORPORATION 32

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

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.

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

Thank you for your attention.