EDGAR® ONLINE® AND HITACHI ANNOUNCE ALLIANCE
-- Alliance to Enable Customers to Compare U.S., Japanese companies Data in XBRL --
SOUTH NORWALK, Conn. and BRISBANE, Calif. - October 7, 2004- EDGAR® Online®, Inc. (NASDAQ: EDGR), a leading provider of value-added global business and financial information, and Hitachi America, Ltd., a subsidiary of Hitachi, Ltd., (NYSE:HIT), a leading global electronics company, today announced an alliance through which the companies will make financial information from U.S. and Japanese public companies available to customers.
As a result of the alliance, customers of EDGAR Online will have access for the first time through EDGAR Online to Japanese company data.
Hitachi and EDGAR Online will provide fundamental company data in eXtensible Business Reporting Language (XBRL), which enables importation of fundamental data into a common platform (such as popular spreadsheet applications) for unfettered comparison and analysis of U.S. and Japanese corporation data. This combination of U.S. and Japanese data will increase the value of an add-in tool for Microsoft® Office 2003 that EDGAR Online is currently developing.
In making the announcement, Toshimi Takahashi, vice president and general manager of the Hitachi America, Ltd. Information Division, said, “We are pleased to be working with EDGAR Online to introduce this type of data service. For the first time investors and potential investors will have the capability to access and employ public financial data from both the U.S. and Japan.”
Susan Strausberg, EDGAR Online's president and CEO, said, “EDGAR Online is excited to use our XBRL expertise to open new global distribution channels and introduce our content to customers, while simultaneously enhancing our own product offerings with the addition of Japanese company information.”
The Information Division of Hitachi America, Ltd. provides a range of solutions and services to the information technology marketplace. For more information on XBRL solutions, please visit http://www.hitachi.us/xbrl.
Hitachi America, Ltd., a subsidiary of Hitachi, Ltd., markets and manufactures a broad range of electronics, computer systems and products, and consumer electronics, and provides industrial equipment and services throughout North America. For more information, visit http://www.hitachi.us.
Hitachi, Ltd., (NYSE: HIT), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 326,000 employees worldwide. Fiscal 2003 (ended March 31, 2004) consolidated sales totaled 8,632.4 billion yen ($81.4 billion). The company offers a wide range of systems, products and services in market sectors including information systems, electronic devices, power and industrial systems, consumer products, materials and financial services. For more information on Hitachi, please visit the company’s Website at http://www.hitachi.com.
EDGAR Online, Inc. (http://www.edgar-online.com) is a leading provider of value-added global business and financial information. The Company makes financial information and a variety of analysis tools available via online subscriptions and licensing agreements to professionals in financial institutions, corporations and law firms.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by EDGAR Online, Inc. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with our ability to (i) increase revenues, (ii) obtain profitability, and (iii) obtain additional financing, changes in general economic and business conditions (including in the online business and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, risks in connection with acquisitions, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.
EDGAR® is a federally registered trademark of the U.S. Securities and Exchange Commission (SEC). EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission. EDGAR Online is a product of EDGAR Online, Inc.
EDGAR Online Public Relations
Phone: (866) 669-2889
Gerard F. Corbett
Hitachi America, Ltd.
Branding & Corp. Comms. Group