SOURCE: UBmatrix, Inc.

October 15, 2008 07:10 ET

UBmatrix, NTT Data and Fujitsu Form Alliance to Deliver XBRL Solutions to Japanese Companies

Alliance Offers On Demand Tools and Templates for Japanese Companies Filing Financial Reports in XBRL to the FSA

REDWOOD CITY, CA and TOKYO--(Marketwire - October 15, 2008) - UBmatrix, Inc., the leading provider of XBRL information exchange solutions, announced today that it has formed a business alliance with NTT DATA Corporation and Fujitsu Limited for the delivery of XBRL financial reporting solutions to the Japanese market. Under the terms of their agreement NTT DATA will provide the sales, marketing and system integration services, as well as being responsible for managing the system; UBmatrix, the leading provider of XBRL solutions, will provide its globally proven XBRL software products and expertise to the project; and Fujitsu's renowned data center group, will provide the setup, hosting and infrastructure management of the envisioned system.

XBRL is fast becoming the global standard for financial information reporting and exchange with organizations such as the Tokyo Stock Exchange, the U.S. Securities and Exchange Commission (SEC), and European Central Banks, under Basel II, as well as other leading regulators adopting the business reporting language as a standard for companies reporting to them. For the past five years, the Japanese National Tax Agency permits XBRL for e-Tax national tax return filings; eLTax, the local Japanese tax return filing system, also permits XBRL filings; as does the Bank of Japan (BOJ) through its performance review online system, which is used by financial institutions to file financial reports with the central bank. In 2008, the Tokyo Stock Exchange, through its Timely Disclosure Network (or TDnet) began allowing the filing of financial reports in XBRL, joining the Japanese Financial Services Agency Electronic Disclosure for Investors Network (EDINET).

"The Japanese market has helped to lead the world towards a universal XBRL standard for financial reporting and information exchange," said Sunir Kapoor, President and Chief Executive Officer, UBmatrix, Inc. "Now Fujitsu, NTT DATA and UBMatrix will lead the way in making it much easier for companies operating in Japan to enjoy the benefits of XBRL with this new XBRL Gateway."

Under the terms of the business alliance, UBmatrix, Inc., Fujitsu Limited and NTT DATA will develop and provide XBRL services and solutions to the Japanese market, including:

XBRL Data Handling Services: An on-demand service which will offer tools and templates to allow publicly listed companies in Japan to automatically generate EDINET corporate extension and financial reporting forms in XBRL. This solution will offer two primary services, an XBRL "Converter" and an XBRL "Viewer." The XBRL Converter will be used to create financial data in XBRL format automatically based on past financial data. The XBRL Viewer is used to display financial data in XBRL format.

XBRL Data Inquiry Service: An on-demand service, incorporating XBRL "Viewer" with access to some of the EDINET filings for the past three years. The service will offer reports including side-by-side comparisons and graphical reports. Within a few months, data from the Ho Chi Minh Stock Exchange, HANOI Securities Trading Center and Stock Exchange of Thailand will also be available through this service.

XBRL Gateway -- Case Examples: Online access to case examples related to XBRL such as Zaimon and other cutting edge of technologies for processing XBRL data.

The companies will demonstrate the XBRL Gateway at the XBRL International Conference in Washington, DC from October 15th to 16th.

About UBmatrix

UBmatrix, Inc. is the leading provider of XBRL-based information exchange solutions for global organizations and enterprises allowing them to more efficiently and effectively address the challenges of business and financial information management, exchange and reporting. XBRL is rapidly becoming the standard for financial information exchange and reporting demonstrated by the XBRL programs being driven at the SEC, FDIC and the European Central Bank Supervisors. UBmatrix XBRL solutions increase operational efficiency and financial transparency, and ensure reporting accuracy and reporting compliance. UBmatrix is based in Silicon Valley with development centers in Bellevue, WA and New Delhi, India. For further information, visit www.ubmatrix.com.

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