Japan has long been known for embracing technological innovations, and now another one is coming to financial reporting in that country: XBRL.

Well ahead of the United States and many other countries, Japan plans to adopt the eXtensible Business Reporting Language for all publicly traded companies and investment firms listed there—some 8,000 registrants in total—starting in April. The companies must “tag” their financial statements in XBRL, and investors can then view and compare financial data with dramatically improved simplicity and control.


Yamagami

Japan launched its XBRL effort to attract foreign investors to the Japanese money market, according to Akira Yamagami, a ...