JustSystems Participates in Pilot of XBRL-based EDINET by Financial Services Agency of Japan
JustSystems Offers Free Trial for Japanese Companies to Create and File Reports in XBRL
NEW YORK — July 16, 2007 — With the commencement of the pilot program by the Financial Services Agency of Japan in July 2007, as part of the modernization of EDINET to an XBRL-based system, JustSystems, Inc. today announced release of a free trial version of the newly developed xfy XBRL EDINET edition. The pilot program will be used to enable listed companies to create disclosure documents in XBRL (the XML standard for generating financial statements) and to demonstrate filing in this new EDINET environment — an electronic disclosure system for documents, such as securities reports, to be filed under Japan’s Securities and Exchange Law. xfy XBRL EDINET Edition is anticipated as one of the user friendly tools.
The objective of the pilot program is to pave the way for the new XBRL-based EDINET system and verify operational procedures for the new system, which will be in full operation in April 2008. To support the pilot, and promote widespread use of XBRL and adoption of the new system by Japanese companies, JustSystems is offering a trial version of xfy XBRL EDINET edition free of charge at: http://www.xfy.com/jp/ (Japanese language support only).
JustSystems’ xfy XBRL EDINET edition enables processing of XBRL data with xfy, its XML composite application and document framework. It allows users to easily create taxonomies (standard classification dictionaries for defining categories and structures, as well as electronic templates for financial reports) and instances (XML documents and the substance of financial reports). It also ensures validation of XBRL data for disclosure documents, such as balance sheets and earnings statements. The new solution is designed to be easy for any business user, such as accountants with no knowledge of XBRL, to use the system through wizards and tutorials to guide them through the process of creating XBRL-based reports.
Powering the new EDINET with XBRL will bring improved usability and operational efficiency, as well as enhanced security. At the same time, companies submitting disclosure documents through the system will benefit from the efficient creation of financial reports with quick and accurate checks for consistency.
JustSystems will continue to make contributions to promote the widespread use of XBRL, a standard data format in the financial industry that is rapidly being adopted in Japan, throughout Asia, as well as North America and Europe.
About JustSystems, Inc.
JustSystems is a leading global software provider with a 27-year history of successful innovation in office productivity, information management, and consumer and enterprise software. With over 2,400 customers worldwide and annual revenues over $110M, the company is continuing a global expansion strategy that includes the launch of its new enterprise software offering called xfy (pronounced 'x-fie') in the North American and European markets. JustSystems has worldwide office locations including headquarters in Tokyo, Japan; New York ; Palo Alto, California; Vancouver, Canada; and London, England. The company currently employs over 1,000 people. Major strategic partnerships include IBM, Oracle and EMC.