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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

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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

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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)

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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

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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

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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

PDF

Automatically Conversion

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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

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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