> For the complete documentation index, see [llms.txt](https://docs.time2log.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.time2log.com/financial-model-en/financial-model/financial-model-user-guide-or-disclosure-search.md). # Financial Model — User Guide | Disclosure Search The Financial Model renders EDINET filings as an Excel-style grid in your browser. This page documents every clickable element, keyboard shortcut, and export path. *Updated: June 2026* This guide follows the screen layout top to bottom: the toolbar, the main grid, the side panels on the right, and finally export and offline mode. The table of contents on the left stays pinned. Clicking an item updates the URL so you can copy and share the link with a colleague. ## What The Financial Model is Displays financial reports filed with EDINET as an Excel-style grid in the browser. The workbench is a single grid plus a few dozen side panels. View BS / PL / CF / segment data side by side across periods, switch between consolidated and parent-only or quarterly and annual, edit values directly for what-if analysis, attach comments, and export Excel (with cross-sheet formulas and charts) or save the entire workspace to a single file — all without leaving the browser. Under the hood the tool parses the EDINET XBRL into an in-memory AST and lays the grid, panels and export pipeline on top. Because the data lives in the cloud but the computation runs in the browser, you can keep working on a company even if the network drops out (you only need it back when you switch companies). The unit of save is a "workspace" — one file containing one company's full history, tags, notes and UI state. Drop the file into Slack or email and your collaborator opens to the exact same state. Nothing is stored server-side, which keeps the tool usable on confidential deals. * New users: jump straight to the "Daily pick" (/explorer/daily). You get a fully populated screen instantly, no company search or tagging required. * Editing state evaporates when you switch companies without signing in. For long sessions either sign in or save the workspace as you go. [Search a company](https://disclosure.time2log.com/en/explorer/gate)\ Find a company by name or securities code and open its latest filing. [Open from a file (offline)](https://disclosure.time2log.com/en/explorer/local)\ Drop a filing ZIP or PDF into the browser to analyse it instantly. ![Full Financial Model interface](/files/760bff5a6a9e7f9db09813e41a2b68986e65bd0a) Top toolbar, central grid, floating panel launchers on the right. ## Five-minute quick start Steps 1 → 8 take you through the core flow in five minutes. Search a company Search by company name or securities code and pick the target. Beginner tour When the page opens, a guided spotlight tour starts automatically. You can skip per-chapter. Pick a period Choose a fiscal period from the period chips at the top. Switch statements Use the category chips to switch among BS / PL / CF. Edit numbers Turn on "Edit mode" in view settings, then double-click a number cell. Export Top-right: Excel (with formulas and charts) or save the workspace (the entire editing state). Command palette Cmd / Ctrl + K jumps to any feature by keyword. Replay the tour The "? User guide" button at the top-right of the toolbar restarts it any time. ## Today's pick (/explorer/daily) Visiting /explorer/daily picks one company with notable EDINET activity for the day and opens the Financial Model on it directly. A shortcut for the morning "what happened today?" check. Skip the company-search step and jump straight into the most recently active filer. The pick is a weighted random draw from filings on the most recent business day, biased by market cap, name recognition and XBRL coverage. Reload the same dated URL and you keep the same company; the rotation only happens when the date flips. Use it as the morning "what happened" shortcut, as your warm-up company before the market opens, or as an automated way to widen your peer comparison set. * Liked the company that landed today? Bookmark its direct URL (/explorer/\) — that link is stable and survives the rotation. * On weekends and holidays the pick stays anchored to the most recent business day until the calendar moves on. ## Toolbar row 1: company name and action buttons Row 1 holds metadata about the current document plus the three most-used export and restore buttons. | Element | Role | | ------------------ | -------------------------------------------------------------------------------------------------- | | Company name title | The submitter of the currently loaded document. | | Meta-slot chips | Fiscal period, submission date, ticker, PDF link, etc. | | Excel export | Download an Excel file with cross-sheet formulas and five embedded charts (see the Excel chapter). | | Save workspace | Bundle the entire workspace (values, edits, comments, every UI setting) into a single download. | | Load workspace | Upload a previously saved workspace file to restore your state. | ![Toolbar row 1](/files/18220352b796ac75e462dd90eb929a19dd2e311a) Company title plus the export, save, and load buttons. ## Toolbar row 2: period, category, and consolidation filters Three chip groups filter columns and scope. They are multi-select and default to all selected. | Chip | Role | | --------------------------- | ----------------------------------------------------------------------------------------------------------------------------------- | | Period chips | Toggle visible periods by year or quarter. Hover a year to expand its quarters; the trailing icon opens that period’s PDF directly. | | Category chips | Switch BS / PL / CF visibility. Hidden automatically when only one category exists. | | Consolidated / parent chips | Switch consolidated vs parent-only columns. Hidden automatically when only one scope exists. | * Right-click any chip for “Keep only this”. * Hover to see the count of columns matched. ![Period, category and scope chips](/files/1111996b5505f7f07932dd6aefef05a40d5ae3dd) Period chips support hover-to-expand. Category and scope chips appear only when there is more than one value. ## Toolbar row 2: View Mode, units, label language These switches change how values are displayed without altering the underlying data. | Element | Role | | -------------- | ---------------------------------------------------- | | View Mode | Actual / YoY / BS·PL composition / 3-yr & 5-yr CAGR. | | Unit toggle | Yen / thousand yen / million yen, slider style. | | Unit advanced | Rounding policy and decimal places. | | Label language | JA / EN account-name labels (numbers do not change). | ![View Mode, units, label language](/files/2db42bd2f59268a8ea4101ab40a55e65d4612efe) View Mode also drives the sparkline source (YoY view shows the year-over-year trend). ## Toolbar right edge: view settings, edit reset, help Three icon buttons: open view settings, clear all edit overrides, restart the onboarding tour. View settings One popover that exposes every grid display toggle (next section). Edit reset Visible only when overrides exist. Clears every edited cell at once. Help / tour Restart the onboarding tour. Skippable by chapter. * Edit reset has no confirmation dialog and cannot be undone with Ctrl+Z. If you might need the overrides back, export to Excel or JSON before clicking it. * The tour starts from chapter 1, but the chapter breadcrumb at the top of the tour lets you jump to any section. The “tour completed” flag lives in synced preferences, so it stays dismissed across devices once you finish. * Hover any toolbar icon for a tooltip that includes the keyboard shortcut (e.g. ? to open help). On mobile the same actions collapse into a “⋯” overflow menu. ## Statement tabs The tabs directly under the toolbar switch between statements: balance sheet (BS), income statement (PL), cash-flow statement (CF), consolidated worksheets and so on. Order BS first, then PL, CF, consolidated views, and the rest alphabetically. Horizontal scroll When tabs overflow, use the arrows or your mouse's horizontal wheel. Switching tabs closes context panels DCF, QoE, anomaly and similar panels that depend on the current statement close automatically — to avoid showing stale data. ## View Settings popover Four fine-grained grid toggles, gathered into a single popover. | Toggle | Effect | | ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------- | | Sparkline | A small line chart at the right edge of each row. Needs ≥ 2 periods. Row height grows from 30 to 42 px when on. Source follows View Mode. | | Data bar | Cell background filled in proportion to the row’s absolute max — green for positive, red for negative. Total rows, text rows, and Tag columns are excluded. | | Edit mode | Double-click a numeric cell to edit. Changes flow into Excel and workspace saves; right-click → Reset restores the original. | | Teaching mode | Adds tooltips to account names. Hover to see the official name, the local-language label, and any consolidated / parent classification. | ![View settings popover](/files/163941e6b77c7e3065339b79762bed3022ddcfe1) Top: four toggles. Bottom: precision controls for units and rounding. ## The six analysis modes at a glance Each mode reshapes the column layout and the default panel set in one click. Mode buttons sit to the right of the statement-tab strip. Switching modes keeps the company, period, and any tags you have already applied. A tag you set in DD mode is still there when you flip back to Standard, and a recurrence tag you set in QoE is visible from DD. Think of a mode as a column-and-panel preset, not a separate workspace. The "Analysis tools" menu sits next to the mode buttons. Single-shot panels that are not tied to any mode — DCF, SOTP, LBO, Monte Carlo, Peer Compare and the like — open from there and work in every mode. | Mode | Primary use | BS Tag columns added | PL Tag columns added | Default panels | | ----------- | ------------------------ | ---------------------------- | --------------------- | --------------------------- | | Standard | General reading | — | — | Financial charts / ratios | | DD overview | Due diligence / pre-M\&A | Overview, overview-2, WC, ND | Overview | DD overview / charts | | QoE | Quality of earnings | — | Recurring, adjustment | Ratios + scorecard launcher | | WC | Working capital | WC, classification | — | Financial charts | | Credit | Solvency | ND, classification | — | Financial charts | | Segment | axis × member rows | — | — | Treemap / Peer Compare | * Switching modes force-remounts the grid; previous selections and expansions are not preserved. * Switching modes auto-opens the default panel set. Once you close a panel it stays closed on subsequent visits to that mode. * The "Reset session" button in the toolbar clears every tag and expansion state across all modes — useful when stray tags from a previous session are throwing off the totals. ## Standard mode General reading. No Tag columns are added, which makes this mode ideal for first-time review, presentations, and pure reading. Financial charts and ratios open by default on the right. Label language follows the toolbar setting. No tag columns means the grid shows raw XBRL exactly as the report filed it. Use Standard when opening a new company for the first time, when showing the screen to a client, or before exporting the data to Excel for a different downstream tool. Standard mode still has full access to the "Analysis tools" menu, so any panel that runs on auto-defaults (DCF, DDM, Trading Multiples and so on) is reachable here. Switch to a tagged mode only when the panel actually needs your manual classification. * Fastest mode to load. For heavy filers, open in Standard first to get the shape of the financials, then switch into DD or QoE for the detailed work. * The Tag Options panel is hidden in Standard. To tag rows you have to be in DD / QoE / WC / Credit. ![Standard mode — general view without tag columns](/files/b4e02fd930fd7bd81cf07169546d4c14cafb52d8) ## DD overview mode Due-diligence-oriented review. Adds “Overview / Overview-2 / WC / ND” to the BS grid and “Overview” to the PL grid as Tag columns. The "Overview" tag column on the BS asks a buy-side question of every row: "is this an operating asset, cash, interest-bearing debt, or working capital?" Once tagged, the DD Overview panel rebuilds the BS aggregation with category subtotals on the fly, and any unflagged row falls through to "Other". The "Overview" tag column on the PL does the same for the cost stack and reorganises the PL waterfall. Tags are session-only, but the Excel export writes them back as formula mappings, so the work is reproducible from the file alone. BS also gains dedicated ND (net debt) and WC (working capital) tag columns, so you can layer all three classifications — overview / ND / WC — side by side while you work. Dynamic overview columns The header of the first “Overview” column shows + / − buttons. Range is 1 to 4. New columns are auto-named Overview-3, Overview-4. Tag options panel A “Tag options” button appears in the toolbar, listing the valid values and hit ratios for every Tag column in the current mode. Auto-expand The DD overview panel opens automatically when you enter the mode. * Tagging does not have to be exhaustive — the totals update as you go. Tag the big lines (cash, revenue, debt) first; the rest can stay in "Other" without breaking the panel. * Open DD Overview in a separate window and tag in the main window: the two stay in sync in real time, which is the ideal setup on dual monitors. ![DD overview mode](/files/4c9aaf6fe05c069ad49def889ad2561b607e3ee5) Tag columns are highlighted in yellow. Header + / − buttons control how many overview columns are shown. ## QoE mode Quality-of-earnings analysis. Adds “Recurring / Adjustment” Tag columns to the PL grid for line-by-line classification of one-off and non-recurring items. Once tagged, the QoE Scorecard recomputes its 9 signals, the Beneish M-Score, and the Altman Z'-Score in real time. The "Recurring" tag column on the PL is a binary (RECURRING / NON\_RECURRING). The "Adjustment" column is for normalisation deltas (EBIT\_ADD\_BACK / EBIT\_DEDUCT). Flag a one-off FX gain or a litigation settlement as NON\_RECURRING and the adjusted-EBIT line in the QoE Scorecard re-computes immediately. There is no right or wrong granularity. A common practice is to run the analysis twice — once conservatively, once aggressively — and look at the spread of the adjusted-EBIT margin to anchor expectations. * The 9-signal panel, the Beneish M-Score and the Altman Z'-Score all run with or without tags. Tags only affect adjusted EBIT and adjusted margin. * Impairment charges, restructuring costs and M\&A fees are typical EBIT\_ADD\_BACK candidates. Cross-checking what peers treat as non-recurring keeps your tagging consistent. ![QoE mode — recurring tag columns on PL](/files/4f48c268085d3bb571fbf88dac74cd129a559022) ## WC mode Working-capital analysis. Adds “WC / Classification” Tag columns to the BS grid for sorting receivables, inventory, payables, and other current items. Financial charts open by default; cross-check against the WC bridge in the DD overview panel. WC tags (AR / inventory / AP / other current) feed the working-capital bridge in the DD Overview panel and drive DSO, DPO and DSI calculations. The "Category" tag column splits remaining current items into cash and other current so that they are excluded from net debt. WC mode is a subset of DD mode — useful when you want to focus purely on the operating working capital story. * Tagging AR, AP and inventory alone is enough to populate the turnover days. Leave the rest to the Category tag. * Turnover days use period-end balance over trailing-12-month revenue × 365. Seasonal businesses (retail, construction) need to be read with that caveat in mind. ![WC mode — working-capital tag columns on BS](/files/d4a45a79f5cd4d1e83ee7021e9813bcde6ad4fa8) ## Credit mode Solvency analysis. Adds “ND / Classification” Tag columns to the BS grid for cash, short-term debt, bonds, CP, and long-term debt. Tagging drives the ND bridge in the DD overview panel and the formula mapping used by the Excel exporter. ND tags split cash, short-term debt, bonds, commercial paper and long-term debt. The "Category" tag tracks liquidity bucket (short vs long), which also feeds the Credit Spread panel. If you also want to separate bank loans from lease liabilities, layer the Overview tag column on top as a secondary axis. * Tagging cash and long-term debt is enough to populate most of the ND bridge. Bonds and CP can be added incrementally. * Banks, insurers and broker-dealers have a fundamentally different ND concept — customer deposits and policy reserves are liabilities but not net debt. Use the industry-specific panels for those. ![Credit mode — net-debt tag columns on BS](/files/8e7bfa0869b548dd88ebc6ee51484ad11fc45e92) ## Segment mode Expands segment disclosures into rows by axis — for example "business segment × region". Best for multi-axis disclosures like business-segment revenue, regional revenue, or reportable-segment information. Pair it with treemap or peer compare from the analysis tools menu to see structure and benchmarks side by side. Segment disclosures arrive in the source report as several separate tables ("Reportable segments", "Revenue by business segment", "Revenue by geography"). Segment mode flattens them all into axis × member rows so you can read every cut in one grid. The Treemap that auto-opens on the right encodes area = revenue, colour = margin (green high, red low). Combined with the Peer Compare panel, it gives a quick visual answer to "what is our mix vs the peer set's mix?". * Axis × member rows keep the original hierarchy from the report — click a tile in the Treemap and the grid scrolls to that row. * Unlisted and small-cap filers often have no segment disclosure, in which case the Treemap is empty. Check the company-type badge first. ![Segment mode](/files/1c9d7ea9c0b34182212f8d3d39a06d4787d72780) Segment disclosures expanded into per-axis rows. ## Grid column structure Left to right: Tag columns (DD/QoE/WC/Credit/Segment only), account name, period values, optional sparkline. | Position | Content | Width | Frozen | | --------------- | ------------------------------------------- | -------------------------- | ------ | | 0 \~ T-1 | Tag columns (DD/QoE/WC/Credit/Segment only) | First 160 px, others 80 px | Frozen | | T | Account name | 360 px | Frozen | | T+1 \~ T+D | Period value columns | 160 px each | — | | Last (optional) | Sparkline | 120 px | — | * Frozen columns stay visible as you scroll horizontally. * Header row 1 is the Excel-style column letter (A, B, C…). Header row 2 is the period or account label. ## Cell types you'll see A single grid mixes five cell styles, picked automatically based on the row. | Cell type | Where | How it looks | | ----------------- | ---------------------------------------- | -------------------------------------------------------------------------------------- | | Heading row | Section titles like "Current assets" | Pale background, bold text | | Account-name cell | The leftmost frozen column | Indented by depth, bold for headings, ▼ ▲ to collapse | | Number cell | Period values | Thousands separators, unit scaling, red negatives, ▲ ▼ in YoY view, supports data bars | | Sparkline | Optional rightmost column | A small inline trend line | | Tag cell | Leftmost columns added by analysis modes | Click to collapse rows that share the same tag | ## Collapsing heading rows Category headings such as "Current assets" or "Non-current liabilities" can be folded with the ▼ / ▲ icon at the start of the row. Collapsing is one level at a time: collapse "Total Assets" and the "Current assets", "Non-current assets", and "Investments and other" headers remain visible — only the leaf rows underneath them disappear. Drill down progressively when you want to dig in further. Subtotals on the parent rows stay visible after collapsing, so the grid doubles as a one-screen overview. Perfect for the first read of an earnings release when you only want the big picture. How to use Click ▼ on a heading row to hide its children; click ▲ to expand them again. Saved Collapse state is preserved when you save the workspace and restored on reload. * Combine with the tag-cell group collapse (see grid-tags) and you can build a custom summary view — one row per tag value — on the fly. * Right-click → "Expand all / Collapse all" is the fastest way to reset before a demo or screen-share. ## Edit mode Enable Edit Mode first in View Settings. Enter edit Double-click a numeric cell. Reach Overrides flow into YoY, composition, and CAGR views as well. Marker Edited cells get a coloured triangle in the upper-left corner. Reset Right-click → Reset restores a single cell. The 🔄 toolbar button clears all overrides. ## Tag columns & group folding Tag cells accept direct input in DD / QoE / WC / Credit / Segment modes. Three ways to enter a tag value: type and let the autocompleter finish, pick from the dropdown, or drag from the Tag Options panel. Whichever path you choose, the value is normalised against the mode's allowed list. Tags are company-local — they carry across all periods of the same company. Set your overview tags once and every prior year inherits them, so subsequent periods are pure delta work rather than re-tagging from scratch. Group fold When several rows share a Tag value, clicking the leader row’s Tag cell folds or unfolds the whole group. Drives panels Tags also drive the DD overview panel and the formula mapping used by Excel export. * Delete clears a tag; Ctrl + Z undoes a mis-typed one. The right-click menu has "Clear tag" if you prefer. * The leader row of each group-collapse cluster (the first row sharing the tag) is shown bold, so you can see at a glance which row collapse will pivot on. ## Cell comments Right-click a cell → Add comment. Marker A red dot appears in the upper-right corner of any commented cell. Sidebar The Comments sidebar lists every comment; click to jump to the cell. Export Comments are written into Excel exports as cell notes. * Comments live only in the current device’s workspace for the selected company. They are not synced — open the same file on another machine and they’re gone. Share via the Excel export (cell note) or via DD QA / Pop-out threads. * A comment is anchored to the (concept × period) cell, so it survives sort, filter and group changes. It does disappear if you delete the concept itself through an Edit-mode override. * Right-click is the only way in. Choosing “Add comment” on a cell that already has one re-opens the editor; the popover’s footer has a delete button. ## Formula bar and selection summary The thin Excel-style strip above the grid shows the cell reference and raw value of the active cell. When you select two or more cells, the status bar at the bottom shows count, numeric count, sum, average, min and max — quick math without leaving the page. Same position, same behaviour as Excel's formula bar. On user-edited cells it shows both the original value and the override side by side, so you never lose sight of the source figure during a What-if. On tag cells it shows the tag code and its display label. The range-selection summary in the status bar is the fastest way to compute an ad-hoc total without exporting to Excel. Ctrl + click adds non-contiguous cells to the selection and the totals update live. * Clicking the formula bar outside of edit mode returns focus to the cell. You can keep the bar open while arrow-navigating around the grid. * The number formatting in the status bar follows the workspace currency format. Right-click → "Clear formatting" to see raw values. ## In-grid search Open the search bar with Ctrl + F (or the Command Palette’s F entry). Search scope is every cell currently rendered in the grid plus the row labels — tag columns, collapsed/expanded state, hidden rows all included. You can match on a concept keyword ("goodwill") or on a numeric substring ("1,234" matches every cell containing 1,234). Regex is intentionally not supported. The choice is deliberate — it stops first-time users from typing "\d+" and concluding the search is broken. Highlight Hits are highlighted in yellow; the toolbar shows current / total. Navigation ▲ ▼ to step through, Esc to close. * Enter steps to the next hit; Shift + Enter steps back. You can cycle through every match without touching the mouse. * Hits inside hidden rows are reported as "N matches in hidden rows". Restore the hidden rows from grid-hidden first if you need to see them. ## Right-click menu Right-click any cell to open a context menu of actions valid for that location. It's the most multi-purpose entry point in the workbench. Report details Number cell → opens the full submission record (filing date, document name, PDF link, etc.) for the cell. Trace this number's source Number cell → shows which filing, which period, and which classification (consolidated / parent, region, segment, etc.) produced this number — a read-only viewer. Copy Copy cell, row or column. Insert / delete Active only on tag columns (DD / QoE / etc. modes). Hide column / row Restore them in one click from the banner above the grid. Add comment Annotate the cell. Reset Shown only when the cell has an edit override; reverts to the original number. ## Restoring hidden rows or columns Hiding shows a warning bar at the top of the grid: “N items hidden \[Show all]”. Two ways to restore: click the warning bar, or right-click → Show all hidden … Three things can be hidden: rows, columns and periods. Each is hidden individually via the right-click menu — "Hide row / Hide column / Hide period". The hidden state is part of the workspace and restores on the next load. Typical uses: hide the dummy column you slotted in for a What-if before a client demo; hide the PL detail rows to keep only the overview visible for a screenshot. * Hidden rows export as hidden in Excel too — what you see on screen is what the deliverable shows. * You can dismiss the warning banner (×) when it gets in the way. It will reappear next session, so you never forget what is currently hidden. ## DD overview panel Opens automatically when you enter DD mode. Four cards: BS roll-up / PL waterfall / working-capital bridge / net-debt bridge. DD Overview is the centrepiece of this tool. Every tag you add recomputes the four cards instantly — there is no save button. Tags are session-local and volatile, but the Excel export writes them back as formula mappings so the work is reproducible from the file alone. The BS aggregation runs on the Overview tag and Overview-2 tag simultaneously, so you can build a cross-cut like "business segment × current vs non-current" in one pass. A warning badge appears on the card header if Total Assets ≠ Total Liabilities + Equity. BS roll-up Aggregates the categories you tagged in the "overview" column hierarchically, with collapsible headings and subtotals. "Other", "Total assets" and "Total liabilities" are added automatically. PL waterfall Revenue → COGS → gross profit → SG\&A → operating profit → non-operating P/L (collapsible) → ordinary profit → extraordinary P/L (collapsible) → pre-tax → tax → net income, with all four margins shown alongside. Working-capital bridge Receivables / inventory / payables / other current → reported WC + turnover days (DSO / DPO / DSI). Net-debt bridge Cash + short-term borrowing + bonds + commercial paper + long-term borrowing → reported ND. Open in a new window The button opens an overview-only view in a separate window and keeps both windows in sync (tag edits propagate live). * Open in a separate window and the tag edits in the main grid sync in real time — ideal on dual monitors. * Untagged cells fall into "Other", and Total Assets / Total Liabilities are added automatically, so missing tags never break the bottom line. ![DD overview panel](/files/530743dd53568f0cf1e7f8fdcfba4b061e9d85d6) Glass-style four-card layout. Each card supports group collapse and jump-to-source. ## QoE scorecard Earnings quality in three cards: 9 QoE signals, the Beneish M-Score, and the Altman Z'-Score. The nine signals are anchored in Sloan-1996-style accrual metrics: operating cash flow over net income, the spread between revenue and AR growth, the spread between inventory and revenue growth, discretionary accruals, operating-cash-flow volatility, and so on. Each card is colour-coded red / yellow / green, and the numerator and denominator can be expanded back to the source rows. The Beneish M-Score is the Beneish-1999 eight-variable model; readings above − 1.78 suggest a higher probability of earnings manipulation. The Altman Z'-Score is the private-company four-ratio variant; below 1.10 is distressed, above 2.60 is the safe zone. Both are sanity checks on accounting and bankruptcy risk, not standalone investment signals. 9 QoE signals Operating CF / net income, the gap between earnings growth and asset growth, the gap between revenue growth and receivables growth, discretionary accruals, operating-CF volatility, and so on. Each signal is rated red / yellow / green; expand a signal to see its numerator and denominator. Beneish M-Score A statistical model that combines eight ratios into a single "earnings-manipulation likelihood" number. M > -2.22 is the warning zone. Altman Z'-Score Bankruptcy-risk score from five ratios (the variant for private companies). Z' > 2.9 safe, 1.23–2.9 grey, < 1.23 distressed. * Click the chip inside any signal card to jump to the corresponding row — the statement tab switches automatically. * Adjusted-EBIT-style metrics react to QoE-mode tagging instantly. The nine signals themselves work with or without tags. * Thresholds are the academic defaults. To adapt them to your industry or region, check the source attribution in the metadata badge. ![QoE scorecard — 9 signals + Beneish + Altman](/files/0db4ab566a68fd670e8597fee82af743319de624) ## Anomaly panel Open it from the floating button at the bottom-right (the badge shows the current count). Combines robust z-score outlier detection (MAD-based) with rule-based consistency checks — balance-sheet equation closure, the JV ownership-percentage summing to ≤ 100 %, sign agreement between pre-tax income and income tax, and so on. The count appears as a red badge and clicking a row scrolls the grid to the cell. Anomalies cover both genuine data errors and economically unusual values. Always pull up the source row to decide which it is before acting. Sign flip Items that switched between profit and loss year-on-year. Order-of-magnitude jump Items that grew or shrank by 10× or more. Sudden appearance / disappearance Items disclosed for the first time, or values that dropped to zero. Large YoY Year-on-year change above the threshold. * Each entry has a one-click jump to the source report. * When the BS does not balance, first check whether a subtotal has been included in the total — most cases trace back to XBRL tagging upstream rather than to a mistake in this tool. * The per-tab badge count tells you at a glance which report needs attention. ![Anomaly panel](/files/c9e1d74dd51e39552e1620c6726a1e71cd6d0760) Click the floating button to see auto-detected jumps and outliers. ## DCF What-If panel A side panel that slides in from the right. Seven sliders plus two number inputs drive the DCF. The top half of the inputs are assumptions (WACC, terminal-growth g, effective tax rate, etc.); the bottom half are required manual entries (net debt, share count). Drag a slider and the 5-year FCF area chart on the right plus the output table re-compute instantly. Per-year FCF = EBIT × (1 − tax rate) + D\&A − capex − ΔWC. Terminal value TV = FCF5 × (1 + g) / (WACC − g). Enterprise value = Σ PV(FCFn) + PV(TV); equity value = EV − net debt; per-share value = equity value / share count. | Input | Default / source | | ------------------------- | ------------------------------ | | WACC | Auto-loaded from the workspace | | Terminal growth g | Default 1.0% | | Revenue growth | Auto | | Operating margin | Auto | | Effective tax rate | Default 30% | | Capex / revenue | Auto | | Working-capital intensity | Auto | | Net debt | Manual entry | | Shares outstanding | Manual entry | * Outputs: 5-year FCF area chart, PV(FCF), terminal value, PV(terminal), enterprise value, equity value, and per-share value (only when shares > 0). * The panel header carries a clear disclaimer: "For illustration only — not investment advice." * WACC pulls automatically from the WACC Calculator result in the workspace. Set cost of equity, cost of debt and tax rate there first if you want a reproducible run. * TV blows up as WACC approaches g. Keep g comfortably below WACC (typically 1.0 – 2.5 %). ![DCF What-If panel — seven sliders](/files/8894e3afe22dbec13f9679450bcfa19a03a74013) ## WACC builder Rather than picking a WACC with a single slider, this panel assembles WACC from CAPM components — Rf, ERP, β, pre-tax cost of debt, tax rate, D/E weighting — so the IC memo has a defensible derivation of the number. Formulas: cost of equity Re = Rf + β × ERP (CAPM); after-tax cost of debt Rd × (1 − t); WACC = E/(D+E) × Re + D/(D+E) × Rd × (1 − t). D / E weights default to the latest BS, fully overridable. The "Apply to DCF" button at the bottom of the panel pushes the result straight into the DCF panel's WACC slider — turning the "explain WACC → re-run DCF" loop into two clicks. * Rf defaults to the 10-year JGB yield. Override it to match the deal currency — US Treasury for USD, German bund for EUR — rather than the listing-country default. * β defaults to the peer-set median. The unlever / re-lever step is automated; type a number directly only if you have a bespoke estimate. * D/E weighting can be switched between market value and book value from the gear in the top-right. IC convention is market-value-based. ![WACC builder — assembled from CAPM components](https://disclosure.time2log.com/manual/explorer/en/panel-wacc-builder.webp) ## SOTP (Sum-of-the Parts) Apply EV/EBITDA multiples per segment to calculate a bottom-up theoretical enterprise value. Sum-of-the-Parts applies a different valuation multiple to each business segment, sums the segment EVs, and then subtracts corporate overhead and net debt. The right tool when a single company-wide multiple would mis-value a conglomerate. This panel pulls peer-median multiples (EV/EBITDA, EV/Sales) for each segment automatically, surfaces the conglomerate discount as a percentage, and reports the implied equity value. Segment allocation Automatically pulls reported segment EBITDA and assigns comparable multiples. Theoretical EV / share price Sums partial values, deducts net debt, and derives implied equity value per share. * When per-segment EBITDA is not disclosed, the panel falls back to segment revenue × assumed margin and labels the row "Estimated". * Peer multiples come from the same cohort as Peer Compare — edit the cohort there and the SOTP refreshes automatically. ![SOTP analysis — segment-level theoretical value](/files/aa00b0aec9efa76511dd3f0fbcf38c0bbb382e41) ## FCF Bridge Visualize the operating-CF-to-FCF waterfall as a bridge chart. Walks operating cash flow to free cash flow step by step: operating CF → − capex → + asset sales → − M\&A → ± working-capital adjustments = FCF. Where the DCF panel projects future FCF, this one explains the structure of historical FCF — the right tool for spotting "heavy capex years" and judging the quality of operating cash. Bridge composition Deducts capex and working-capital movements from operating CF to derive free cash flow. Period comparison Side-by-side periods reveal improvement or deterioration drivers. * Periods with no cash-flow-statement breakdown (interim filings sometimes) leave some steps blank. * Whether capex includes intangible and investment-property capex on top of PP\&E is a setting in the top-right. ![FCF Bridge — operating CF to free cash flow](/files/f5a9e9875ff8aa0f7c7f7870bdd758fe519a94cf) ## LBO Simulation Run a simplified leveraged-buyout model to estimate IRR and MoIC. Simulates the classic LBO structure: purchase price = equity + tranches of debt (senior, mezzanine); projects five years of P\&L, cash flow and debt amortisation; values the exit at an assumed multiple. Reports IRR (internal rate of return) and MOIC (money on money). The five sliders are entry multiple, capital structure (D/E), revenue growth, EBITDA margin and exit multiple. A common use is to drop the exit multiple to a conservative level and watch how far the IRR holds. Assumptions Set entry multiple, debt ratio, interest rate, and exit multiple. Return metrics Auto-calculates IRR and MoIC over a 5-year hold assuming EBITDA growth. * Debt cash-sweep is hard-coded (excess CF goes to repayment). The model is not a substitute for a deal-specific paper LBO. * A 20 %+ equity IRR is the rough PE-fund benchmark. Below that, leverage is not earning its keep — or the entry multiple is too high. ![LBO Simulation — IRR / MoIC calculation](/files/6fb7a324b8ddf0fb4a7cc90915de284e7bb29204) ## Monte Carlo Simulation Estimate future profit ranges probabilistically from revenue/margin distributions. Drops the DCF inputs (WACC, growth, operating margin, exit multiple) into distributions (normal or triangular), runs N simulations (default 1 000), and plots the probability distribution of equity value. Output is a histogram plus P10 / P50 / P90 percentiles — the range view that a base / bear / bull point estimate cannot give you, because the inputs are correlated. Parameter setup Automatically infers mean and standard deviation from historical data; manual overrides supported. Result distribution Displays histogram of N simulation runs with key percentiles. * Each input's distribution parameters (mean, standard deviation) are slider-tunable. Set the SD to zero to collapse back to a point estimate. * Without a fixed seed, runs are not reproducible. The seed is configurable from the gear icon top-right. ![Monte Carlo — probabilistic profit distribution](/files/2593eb0cb39a36d93800773a52ff89fff9dff1b3) ## Residual Income panel Book-value-based intrinsic-value estimate. Pulls book equity from the BS and net income from the PL, then discounts five years of residual income on top of the book value. The Residual Income Model: intrinsic equity value = opening book value + Σ PV(residual income), where RI = net income − cost of equity × opening book value. By measuring value through excess returns rather than dividends, it works on non-dividend-paying and high-growth companies where DDM cannot. This panel projects N years (default 5) of net income and book value, then values the terminal piece with Gordon-growth or zero. Theoretical value sits next to the current market price for direct comparison. | Input | Default / source | | --------------- | -------------------------------------- | | Forecast years | Default 5 | | Current ROE | Inferred from the latest period | | Terminal ROE | Inferred (capped at 10%) | | Payout ratio | Default 35% (40% for banks / insurers) | | Cost of equity | Default 9.0% | | Terminal growth | Default 1.0% | * Output: book equity + sum of discounted residual income = intrinsic equity value. * Effective reinvestment rate is derived from ROE × (1 − payout). The panel warns when ROE and terminal growth are internally inconsistent. ## Dividend Discount (DDM) panel Discounts dividend per share at the cost of equity. DPS, payout ratio and shares outstanding are auto-fetched (API + notes fallback) and every value is editable. The Dividend Discount Model: theoretical share price = Σ PV(dividends). The panel offers the Gordon model (constant growth g, price = D1 / (r − g)) and a three-stage model (high growth → transition → mature). Best fitted to stable-payout / progressive-dividend companies — utilities, REITs, mature manufacturers. For unstable or non-dividend payers, use RIM or DCF instead. | Input | Default / source | | ------------------ | -------------------------- | | Cost of equity | Default 9.0% | | Dividend growth | Default 2.0% | | Dividend per share | From notes or CF, editable | | Shares outstanding | API first, notes fallback | * Output: per-share intrinsic price under both the Gordon and the two-stage variant. * When dividends are consistently zero or erratic the panel warns that DDM is structurally inappropriate. ## Trading multiples panel Type in EV/EBITDA, EV/Revenue, P/E and other multiples; the panel back-solves implied equity value and per-share price using the latest EBITDA / net income / net debt. Comparable-company trading multiples: takes peer market price ÷ KPI to derive ratios (EV/EBITDA, EV/Sales, P/E, P/B), pulls medians and quartiles, then applies them to the subject's KPI to back-out an implied valuation. Peer cohort is shared with Peer Compare — change the cohort there and the multiples here refresh in lockstep. Output is "implied range vs current market value" for the subject company. Multiple inputs EV/EBITDA, EV/EBIT, EV/Revenue, P/E, P/B and PEG, each editable. Empty fields are excluded from the result table. Auto-fetched fundamentals Latest EBITDA, operating income, net income, book equity, net debt and shares outstanding are pre-filled. Output Per multiple: implied EV → implied equity value → implied per-share price, side by side. * Peer medians exclude outliers (anything beyond 1.5 × IQR). The number of excluded peers is shown on the panel. * Newly listed companies and companies with a uniquely structured business produce wide confidence ranges. Cross-check with DCF / RIM. ## Credit Spread Analysis Estimate implied credit rating and spread range from financial ratios. Implied credit spread: derives an implied rating (AAA through CCC) from the Altman Z'-Score and the interest-coverage ratio, then looks up the rating-by-duration spread table to estimate spread and yield for a hypothetical bond issuance. Useful when sizing the cost-of-debt input to the WACC Calculator or when sense-checking the spread on an existing bond. Real-market spreads diverge because of liquidity, covenant and issuer-specific reasons — treat this as a first-pass estimate. Scoring Maps D/E, ICR, EBITDA margin, etc. to a rating matrix. Spread estimation Derives a spread curve and WACC aligned to the implied rating. * The spread table refreshes monthly. Look at the metadata date — if it has drifted from current market conditions, treat the numbers as indicative only. * Banks and insurers are out of scope here — credit logic differs fundamentally. ![Credit Spread — implied credit rating estimation](/files/485791b163a18488a3d2daa55cc07f8ae16f4652) ## Football field (valuation range summary) The classic IC-memo "soccer-field" chart: each valuation method is a single horizontal bar (low → high, with a tick at the median) and the current share price is drawn as a vertical reference line — so the audience can see at a glance where today's price sits inside each method's implied range. Ranges are typed in directly by the analyst (a "Pull from saved DCF scenarios" button activates once at least two DCF scenarios have been saved for the company). Inputs persist through useSyncedPreference keyed by the EDINET code, so signed-in analysts get the same ranges across every device. The right tool for the closing slide of an IC memo or an investment-committee deck — "DCF says this range, SOTP says this range, trading multiples this, LBO holds up to here". Each method's figures are usually pinned down in the dedicated panel first, then transcribed here as the final consolidated view. * The panel does NOT auto-pull from sibling panels — by design, because what lands here is the analyst's persisted opinion, not a derived value. Re-type after iterating on DCF / SOTP / LBO / Trading Multiples / DDM, with the DCF "scenarios" shortcut as a semi-automated alternative. * When the current-price vertical line is absent, the filer is outside market-data coverage (private, freshly listed, etc.) — you can override the reference price manually. ![Football field — every valuation method's range on one chart](https://disclosure.time2log.com/manual/explorer/en/panel-football-field.webp) ## Disclosure diff Compares the disclosure text between adjacent filing periods, with deletions in red and additions in green. Useful for tracking critical accounting estimates, key audit matters, and risk factors over time. Sentence-level diff between two consecutive filings (yuho or quarterly) across the prose sections — business overview, risk factors, management policy, issues to address, corporate-governance section — colour-coded by addition / deletion / change. New risk-factor additions and changes to "issues to address" are a strong tell of management mood that no quantitative metric will catch. * Only same-section pairs diff against each other (business overview vs business overview). When the section structure changed, the diff will look unusually large. * Long sections are collapsed by default. Expand only the blocks that matter — it is faster to skim that way. ![Disclosure diff — text differences across adjacent periods](/files/70b4e2a3eeac7f2e199d42f9afb96948cec021c1) ## Peer Compare Pick a peer set and benchmark it across selected metrics. Pair with Segment mode to compare on a per-axis × per-member basis when you need precise comparability. The default peer cohort is "same JSIC mid-category × similar revenue band". You can add up to five peers manually and exclude any of the auto-selected ones. The KPI table lays out revenue growth, operating margin, ROE, equity ratio, payout ratio and so on side by side, colour-coded against the median (green above, red below). * Peer selection drives everything downstream. Swap peers when the auto-cohort is missing an obvious competitor or includes a misclassified outlier. * Peer Compare defaults to consolidated data. A warning badge appears when standalone vs consolidated filers are mixed in the cohort. ![Peer Compare — benchmark across peers](/files/5a443bc9751f678100bf548970b6a63be8e37dc9) ## Accounting standards diff When a company files under multiple standards (J-GAAP / IFRS / US-GAAP), compare the same period across them. Differences are appended as separate columns and can be exported to Excel in a single click. For companies that disclose under both IFRS and JGAAP (voluntary IFRS adopters), lays the major lines (revenue, operating income, net income, equity) for the same period side by side and highlights the gap. Typical differences surface line by line — goodwill amortisation (JGAAP amortises, IFRS impairs only), pension actuarial gain/loss recognition, IFRS 16 lease on-balance-sheeting, and the rest. * If the diff does not reconcile to the company's own "IFRS transition impact" note, the data ingestion is suspect — check the source in XBRL Trace. * JGAAP-only or IFRS-only filers leave this panel empty. Concurrent dual-standard disclosure is the prerequisite. ![Standards diff — same period across standards](/files/edf2c9c354d331d4935212755861ea64a34f05c7) ## Standardized trend For filers that crossed an accounting-standard transition (JGAAP → IFRS and the like), this dialog lays the headline metrics (revenue, operating income, net income, total assets, etc.) onto a single left-to-right time-series table. The standard-switch seam is marked with a divider plus a chip in the header, so apparent "step changes" caused by the methodology shift never get confused with real trend breaks. The metric axis is fixed by the tool to cross-industry-meaningful series — revenue, operating income, pre-tax income, net income, total assets, equity, operating CF, FCF — so company-specific adjusted measures never sneak in. Even when the filer reports a bespoke adjusted metric, only the standardised value lands here. Where Standards Diff is for "same period, two standards", this panel is for "one standard line that switches partway through". The right starting point before any long-horizon trend analysis on a transitional filer. * Filers that never transitioned (IFRS-only or JGAAP-only) show no seam — just the plain trend table. * Click a metric row to flip into the 5-year / 10-year chart for that metric. The table-chart round-trip is the fastest way to take in both the shape and the numbers. ![Standardized trend — time-series table that spans the accounting-standard seam](https://disclosure.time2log.com/manual/explorer/en/panel-standardized-trend.webp) ## Restatements Aggregates every line that has changed across the company’s amended filings. Each entry shows the original value, the amended value, the delta, and a link to the corresponding amendment filing. When a corrected report has been filed (corrected yuho / corrected quarterly), aggregates the line-by-line deltas against the original and shows the affected amount, affected period and correction type (prior-period restatement / disclosure correction / arithmetic error). Concentrations of restatements in a particular period or account are a meaningful signal of internal-control weakness. Repeated corrections or large floor-level restatements warrant extra scrutiny. * Filers with no corrected report show "Not applicable" — that is intentional, to avoid false positives. * The sign convention is "original → corrected"; a negative number means the originally overstated figure was lowered. ![Restatements — lines that changed across amended filings](/files/581092670eb1b5f82a00cb5dcf9b3be9ab3deb98) ## Guidance vs Actual Lines up the company-issued FY-end guidance from Kessan Tanshin against the final actual, fiscal year by fiscal year. Switch between five metrics: net sales / operating profit / ordinary profit / net income / EPS. Each FY card shows the timeline as a table plus a line chart: initial forecast → quarterly revisions → reported actual. The actual dot is coloured green (beat) or amber (miss) based on the achievement ratio vs the initial forecast. Two achievement chips are shown: vs initial forecast and vs latest revision. Fiscal years still in progress are marked “In progress” and the actual column stays empty. Non-listed issuers (no Kessan Tanshin filings) get an “not applicable” notice instead. * Guidance revisions are sourced from the J-Quants Kessan Tanshin summary, so the actual appears at Tanshin-disclosure time — earlier than the full Yuho. * Useful for spotting a multi-year pattern (e.g. management that always guides conservatively and beats). ![Guidance vs Actual — revisions and achievement ratio](https://disclosure.time2log.com/manual/explorer/en/panel-guidance.webp) ## Treemap Visualises the current statement's numeric rows as a treemap — tile area = absolute value of the selected period. A single picture of segment mix and profitability: area = revenue, colour = operating margin (green high, red low, grey undisclosed). The hierarchy preserves the original report structure (business segment → sub-segment → geography). Tiles drill down on click and sync scroll with the grid. Place the panel next to Peer Compare and the question "how does our mix compare with the peers' mix?" becomes a visual one. Segment tab See the make-up of revenue by business or region at a glance. BS tab Asset composition (current vs non-current, cash share, etc.). PL tab Cost and margin composition. * Companies that do not disclose segment data show an empty treemap. Check the Report detail panel first. * A handful of filers lump most of revenue into "Other", which leaves the treemap as one large block. Read the notes to find more granular segment data. ![Treemap — numeric rows visualised by area](/files/c81362651730a9392cad85a3f61d64abbf04869f) ## Financial charts + financial metrics Open by default below the main grid. Also reachable from the analysis tools menu. Out of the box, five time-series cards line up: revenue, operating margin, ROE, free cash flow, and leverage. The period range tracks the grid filter, so flipping between 5y / 10y / all-time updates every card together. Hovering a card surfaces YoY change, 3-year CAGR, and the peer median (when peer data exists). Click to enter a full-screen view that lets you overlay multiple metrics on the same axis. Financial charts Five time-series charts: margins, cash flow, capital efficiency, EBITDA, financial stability. Financial metrics 17 key ratios with mini trend lines and formulas on hover. * Formula tooltips sit behind the small "i" on each card. When accounting-standard or scope-of-consolidation changes break continuity, the line is dashed. * Currency follows the workspace setting; for filers that disclose in a local currency, currency can be flipped per card. ![Financial metrics card](/files/afc3cade7206ebdfe750e88853d92c8358db37db) ROE, ROA, current ratio and 14 more — each with a mini chart and an on-hover formula. ## Industry KPI panel (banks / insurers) Detects the filer's industry and surfaces industry-specific KPIs — NIM / CET1 / NPL for banks, embedded value / VNB / solvency margin for insurers. Industry-specific KPIs that the generic financial ratios cannot capture: banks (CET1 capital ratio / NPL ratio / NIM), insurers (solvency margin ratio / combined ratio), real estate (NOI yield / occupancy), securities (revenue mix / risk-weighted assets), construction (order backlog / percentage-of-completion revenue). The panel auto-selects based on the company's JSIC industry code, but mixed-business filers can switch panels manually. Industry coverage Banks and insurers are fully built out. Construction, real estate and securities are placeholders today and fall back to the generic panel. Auto-extract + manual override KPIs are read from disclosure notes; missing or questionable values can be replaced via the manual input field. ROE / net income alongside Industry-specific KPIs sit next to the common ROE and net income in the same panel for cross-reference. * Filers outside banking, insurance, securities, real estate and construction do not see this panel. * Industry-KPI formulas may not match company disclosure exactly (some filers apply proprietary adjustments). Hover the "i" icon for the formula. ## Industry KPI overlay For industries outside banks and insurers (telecom, retail, pharma…), this overlay panel suggests the canonical KPI set from the industry concept catalogue. Coverage shows how many catalogue items the company actually discloses. Because the panel targets disclosure concepts directly, accuracy improves as more filings are indexed. Overlays industry KPIs (order backlog, occupancy, NIM, combined ratio, etc.) onto the financial time-series chart (revenue, operating margin) to surface lead-lag correlations. For example, a construction firm's order backlog leads future revenue; watching the revenue curve after a backlog peak gives a read on order-burn pace. * Periods where the industry KPI is not disclosed break the line. A "fill from period-start announcement" option lives in the top-right. * Apparent correlation strength varies by industry and period — establish causation separately. ## ESG Disclosure Panel Summarizes the sustainability disclosure section from annual securities reports. ESG score with three pillars (E / S / G). Source data combines a third-party ESG provider with structured extraction from yuho and sustainability reports. Scores are 0 – 100 and industry-normalised. Coverage skews to large caps. For small caps and growth-stage filers the score may be absent, in which case the panel says "Not applicable" explicitly. Disclosure scope Lists E/S/G disclosure presence and key KPIs at a glance. Year-over-year Compares with prior years to track disclosure expansion. * ESG scores are not absolute — methodologies diverge across providers. Cross-referencing more than one is recommended. * GHG emissions (Scope 1 / 2 / 3) appear in a separate card. Scope 3 is often estimated, not measured, so read the methodology note before drawing conclusions. ![ESG Disclosure Panel — sustainability information](/files/06a246bacd892de12185c67a14aa761351845909) ## Trace this number's source Right-click a cell → "Trace this number's source". Shows which filing, which period, and which classification (consolidated/parent, region, segment, etc.) produced the cell value — read-only. Use this when you want to confirm "is this really the same number that's in the annual report?" Every grid cell is backed by a row in the XBRL fact store. This panel unwinds that fact row into a read-only card: EDINET code, filing date, doc type (yuho, quarterly, corrected), period (start/end), consolidation flag and currency unit. Use it as the first triage step when a number "doesn't match what I see elsewhere". If the filing trace matches expectations, the ingestion is fine and the discrepancy is downstream — your own formula or the external document. * If the value matches neither the current period nor any neighbouring one, it may have come from a correction filing. Check whether doc type shows "Corrected". * A "Show data trace" button at the bottom escalates to panel-xbrl-trace (the audit-grade raw view) when the summary is not enough. ![Trace the source — read-only view of filing and classification](/files/718c6a83b46bae5b5431b67ee7886ff4d0de3330) ## Data trace drawer Right-click a cell → "View data trace" opens a right-hand drawer with the row's raw value metadata: concept name, balance type, context, unit, period and dimensions — all read-only. Where "Trace this number's source" is the summary view (filing / period / classification only), this drawer is the engineering-grade audit view. Use it when you need to verify that the taxonomy mapping is doing what you expect. Shows the XBRL fact record raw: concept\_qname (taxonomy formal name), concept\_local\_name (short name), contextRef, unitRef, decimals, period\_start, period\_end, and every axis × member dimension combination. For accountants and XBRL engineers. Useful for "is the company using an extension taxonomy and is our mapping consistent with it" and "is the same concept registered twice under different contextRefs" — data-quality root-cause work. * When one cell is backed by multiple facts (consolidated + standalone + segment-cut of the same concept), the table expands to show every fact. Helps catch accidental double-counts. * Spotted a taxonomy this tool doesn't map yet? Report it via the mapping-coverage form — the fix lands in the next mapping update for every user. ## Report detail dialog Right-click a cell → Report detail. All metadata fields of the originating filing, plus a link to its PDF. Lists every metadata field of the filing: EDINET code, company name (JP / EN), the yuho doc\_id, filing timestamp, filing type (yuho, semi-annual, quarterly, extraordinary), period, file size, list of attachments and a direct PDF link. Useful for the things a number alone won't tell you: how long after period-end the company filed, which extraordinary report fed into the next yuho, whether segment disclosure exists. * The PDF link opens the EDINET-issued original. It is the canonical reference when you need to double-check a parsed figure. * When the same company-period has multiple filings (yuho + corrected report), they are listed in filing order so it is unambiguous which is the latest finalised version. ![Report detail — every field of the filing](/files/1e8bd1a2a9bc14afc4d380101a4601fb24ef28f1) ## Concept tooltip (Learning mode) Turn on Learning mode and hover an account name to see its official name, local-language label, and consolidated / parent classification. Helps newcomers quickly map a Japanese account name to its official EDINET name. Turn teaching mode on and the hover tooltip swells to include (1) the formal XBRL concept\_qname, (2) the official Japanese / English / Chinese name, (3) consolidated vs standalone classification, (4) the parent-account relationship, (5) the position in BS / PL / CF, (6) the EDINET taxonomy definition if one exists. Ideal for new-hire training, internal study sessions, and cross-locale collaboration — "what does 投資有価証券 actually translate to in English?" becomes a one-hover answer. * Teaching mode is a user preference and persists across sessions. Turn it on once and forget about it. * If hover noise gets distracting, turn it back off — the tooltip collapses to a compact "name only" version. ![Concept tooltip — hover display in Learning mode](/files/d7d675c34d26292ea94b35cac992fe676d5a546d) ## DD-QA side panel Pulls chapter-level key questions from /dd-qa and tracks completion via checkboxes. Use it to walk through a due-diligence checklist chapter by chapter and mark confirmed items in the workspace. /dd-qa is a chapter-by-chapter set of M\&A questions curated by this tool. The panel imports that checklist into Explorer and tracks state (unchecked / checked / not applicable) per question against the open workspace. Questions are dynamic, not templated — open a bank and you get capital-adequacy and credit-quality questions on top; open a real-estate filer and occupancy / rental-income questions move to the front. The relevance lookup runs on the company's industry, size and public status. * "Checked" state saves to the workspace, so when you hand the file off the next analyst picks up exactly where you stopped. * Each question links to the specific KPI card or panel that answers it. The flow becomes check → verify → next question, with minimal context switching. ![DD-QA side panel — progress on chapter-level key questions](/files/8359826606ed168862f72bd5bb3888756f360c25) ## Concept-mapping coverage and suggestions The coverage badge next to the toolbar shows how many concepts are unmapped in the current mode. When unmapped concepts exist, the badge becomes a clickable chip. Click it to open a suggestion dialog pre-filled with the current industry and the list of unmapped concepts. Submissions are reviewed by the team and folded into the default mappings. "Unmapped" on the coverage badge means a concept exists in the XBRL but is not yet in this tool's mapping dictionary. The usual causes: a company-specific extension taxonomy, or a new concept added recently on the EDINET side. The improvement-suggestion form anonymises and queues the submission for the dev team. A typical review-and-update cycle takes 1–2 weeks; once published, every user gets the new mapping. Your single submission improves the experience for every future user of the same company. * A high unmapped count usually means the unmapped concepts are minor — the major accounts are mapped, so day-to-day analysis is unaffected. Report sooner if the gap is biting an industry-KPI panel. * Before submitting, the form lets you confirm the concept name and the XBRL taxonomy element. A quick sanity check keeps noisy reports out of the queue. ## Propose-mapping dialog In DD / WC / Credit modes, right-click a concept-name cell → "Propose mapping". The concept QName, industry and balance type are pre-filled from the row and active section. Fields Level-1 to Level-4 classification (assets / liabilities / P\&L…), an ND bucket, a WC bucket, a free-form standard label, and a notes box. Where the options come from The dropdowns share the same vocabulary as the DD-mode tag-column dropdowns; any custom label you add lives in both places. After submission An admin reviews each submission. Once approved, the mapping ships in the default catalogue and applies to every user on the next load. ## Tag-options panel Opened from the "Tag options" toolbar button that appears in DD / WC / Credit / QoE modes. Tabs separate the three accounting standards (JP-GAAP / IFRS / US-GAAP). Inspect default options Read-only chips list the seeded options for every tag column — handy for understanding what the model recognises out of the box. Add or remove custom options Any custom label you add shows up in the corresponding tag-column dropdown immediately. "Disable defaults" switch Per tag type, you can hide the default options and show only the custom labels — useful when your internal taxonomy diverges sharply from the seeded one. ## Report flags dialog One row per loaded filing, with chip badges for every disclosure or audit risk marker detected in that filing. | Flag | Meaning | | ------------------ | ------------------------------------------------------------- | | Going concern | A going-concern uncertainty note is present in the filing | | KAM present | The auditor's report includes Key Audit Matters | | Emphasis of matter | The auditor's report includes an Emphasis-of-Matter paragraph | | Material weakness | The internal-control report identifies a material weakness | | Restatement | An amendment or restatement filing has been issued | * Reports are sorted newest first. Chip colours follow a three-level severity scale. ## Command palette Open with Cmd + K (Mac) / Ctrl + K (Windows). Most toolbar settings are reachable by keyboard alone. | Group | Actual commands | | -------- | ----------------------------------------------------------------------------------------------------------------------------------------------------- | | View | Switch view mode — Absolute / YoY / Common-size BS / Common-size PL / CAGR 3y / CAGR 5y (CAGR rows hide automatically when there are too few periods) | | Toggle | Edit mode on/off, label language (ja ↔ en), sparkline, data bar | | Display | Unit (yen / thousand / million, u to cycle), rounding (truncate / round, r to toggle), decimal places (0 / 1 / 2, d to cycle) | | Navigate | Next / previous statement tab (only when there are 2+ tabs) | * Incremental search: substring + token matching. ↑ ↓ to select, Enter to run, Esc to close. * The small key chip on the right of a command (g / e / l / s / b / \[ / ]) is a global single-letter hotkey — press it without opening the palette. Disabled while a text input is focused. * Excel export, workspace save, edit reset and replaying the tour are not in the palette — use the toolbar buttons on the right edge. ![Command palette](/files/419eed0e327d3020bba7fd93c4cd844fa231ea35) Type a keyword to reach almost any feature in the workbench. ## Keyboard shortcuts Both Mac and Windows modifier keys work — no configuration needed. | Keys | Action | | -------------------------- | -------------------------------------------------- | | Cmd / Ctrl + K | Command palette | | Ctrl / F | Find in grid | | Esc | Close search / side panel / tour | | Double-click a number cell | Edit (when edit mode is on) | | Right-click | Right-click menu | | Horizontal scroll / ◀ ▶ | Scroll the tab strip | | Cmd / Ctrl + Z | Undo | | Cmd / Ctrl + Y | Redo | | Cmd / Ctrl + Shift + C | Copy with header row | | Cmd / Ctrl + H | Find and replace | | Cmd / Ctrl + P | Print / save as PDF | | g | Cycle view mode (Absolute → YoY → Common-size → …) | | e | Toggle edit mode | | l | Toggle label language (ja ↔ en) | | s | Toggle sparklines | | b | Toggle data bars | | \[ / ] | Previous / next statement tab | | u | Cycle display unit (yen → thousand → million) | | r | Toggle rounding (truncate ↔ round) | | d | Cycle decimal places (0 → 1 → 2) | * Single-letter keys (g / e / l / s / b / \[ / ]) need no modifier; they are disabled while a text input is focused. ## Pop-out window with live sync The "Open in new window" button on the DD overview panel opens an overview-only window and keeps it in sync with the main tab automatically. | Action | Direction | Content | | ------------------ | -------------- | ------------------------------------------------------------------ | | Wake-up | main → pop-out | Liveness check | | Acknowledge | pop-out → main | Ready, please send data | | Send overview data | main → pop-out | Tagged BS/PL rows, document IDs, period labels, display units | | Tag edit relay | pop-out → main | Tag changes in the pop-out propagate to the main grid in real time | * Some private-browsing modes disable cross-window sync — in that case the two windows operate independently. ## Excel export Generates an Excel file (multiple sheets) that includes formulas and charts. | # | Sheet | Contents | | ------ | ------------------------- | ----------------------------------------------------------------------- | | 1 to N | Each statement tab | Table body plus per-sheet metric formulas at the bottom | | N+1 | Financial-metrics summary | 17 ratios as cross-sheet formulas | | N+2 | Chart data | Time-series raw data | | — | Charts | Five charts that reference the chart-data sheet, injected automatically | * Sheet names with non-Latin characters are handled automatically (half-width spaces are converted to full-width). * When a formula can't be generated the export falls back to the calculated static value. * Cell comments are written as Excel notes. Tag columns get a yellow background, metric rows are coloured blue. * Unit scales available: yen / thousand-yen / ten-thousand-yen / million-yen / hundred-million-yen. ## Workspace save / restore Saves the full state: summary, block results, every UI setting, edit overrides, tags, and comments. The workspace file is this tool's own JSON extension (.edm). It is a flat shape — company ID + version + payloads (tag set, notes, UI settings, edit overrides, Block results) — and carries a checksum for tamper detection. On load, the file refuses to apply to a different company than the one it was saved against, so the wrong-company-wrong-file mistake fails loud rather than silently corrupting. Nothing is round-tripped through a server; the whole flow stays in the browser. Save Downloads a workspace file. The filename includes the company’s EDINET code and today’s date. Restore Pick a file → it is validated → state is restored. A “Loading workspace (× cancel)” chip appears while loading. * The save is a full snapshot rather than a delta. Even after heavy analysis the file usually stays well under 100 KB. * Cancelling a load returns the workspace to its previous state — nothing is partially applied. Safe to walk away mid-load and do other work in another tab. ## Print / PDF Ctrl + P opens the browser print dialog. Layout is already optimised for print. The left TOC, floating buttons, and external-link icons hide automatically; body content reflows for A4 / Letter pagination. A print-only CSS (@media print) tightens the grid rules and pins the header to repeat at the top of every page. Non-content chrome — TOC, floating buttons, interactive chart elements — is hidden automatically. A4 / Letter selection is delegated to the browser's native dialog; this tool only ships the layout. "Print preview → Save as PDF" produces a clean distribution-ready PDF. * Enable the browser's "Print background colours and images" option to keep the tag-cell colour-coding in the PDF. Turn it off for monochrome and save ink. * For wide grids, switch the print orientation to landscape. Check the preview before printing to confirm the layout sits cleanly. ## Offline analysis mode Drop a filing ZIP or PDF into the browser and analyse it there — no company search required. Filing ZIP upload Drop a ZIP downloaded from EDINET — it is parsed in the browser instantly. PDF upload Drop a PDF (annual reports, etc.) — table rows are extracted automatically. * EDINET ZIPs are parsed entirely in the browser and never leave the page — safe for confidential filings or due-diligence work on disconnected networks. * After loading, the toolbar, grid and every panel behave exactly like the online view you reach from a company search. * PDF upload, by contrast, calls a server-side table-extraction API. Use the EDINET ZIP path when you need a fully local analysis of a confidential PDF. ## Overview pop-out window Opens from the DD overview panel’s pop-out button. It is a standalone tab, so you can drag it to a second display. Pop-out spawns a separate window\.open() tab and synchronises in real time with the main tab via the BroadcastChannel API. Tag edits, category expansions and period switches all stay in sync, both directions. Typical setups: (1) dual monitor — main = edit, secondary = overview display; (2) projector — overview-only to the client, edits stay on your laptop; (3) team standup with the same overview on multiple screens. Add ?present=1 to switch to large-type presenter layout. ?view=bs|pl|wc|nd|kpi URL parameter to pre-focus a specific overview category. ?present=1 Presentation mode — larger fonts, controls hidden — for client meetings. * Two-way sync: edits made in the overview window appear in the main tab in real time. * Closing the pop-out leaves the main tab untouched. Re-open it any time from the panel button to spawn a fresh window at the current state. * Closing the main tab severs the sync — the pop-out flips to read-only, frozen at the last-known state. ## Mobile: read-only summary The workbench is desktop-first. On phones we only offer a read-only summary. On narrow viewports a banner explains the limitation and tables collapse into single-column cards. Editing, right-click and context menus are disabled — please open the page in a desktop browser for the full experience. The mobile UI is scoped to "scan the latest earnings news on the go" — company name, latest filing date, three to five headline metrics (revenue, profit, growth), and a short executive summary. The full grid and all side panels are hidden. Real analysis belongs on a desktop browser. Surface Pro / iPad Pro tablets in landscape can render the desktop view, but right-click equivalents (long-press menus) behave differently across browsers and the experience is not fully supported. * To hand off from mobile to desktop: sign in with the same Google / Apple account and the recent-company list will already include what you opened on the phone. * Mobile browsers offer a "Request desktop site" option that forces the full UI. It loads but is not recommended — touch input cannot trigger the right-click menus the desktop workflow depends on. ## Restart the beginner tour The "? User guide" button at the top-right of the toolbar restarts the tour at any time. Tour progress is stored in your browser automatically and synced across devices when you're signed in. The tour is 23 steps and walks through the main workflow — search a company → switch periods → switch mode → tag a row → expand DD Overview → export — in about five minutes. Each step puts a focus ring on the relevant UI element and pairs it with a short caption. Progress is auto-saved to browser localStorage, and signed-in users get cross-device sync. Start the tour on a desktop, finish it on an iPad without losing your place. * Want to start over? "Start from the beginning" in the tour launch dialog discards progress and resumes at Step 1. * The grid is still interactive during the tour. Because the tour runs on real company data, you can practise on the actual workflow as you advance. ## Frequently asked questions
Edit mode is on but double-click does not start editing Make sure the right-click menu has not marked the cell read-only. Non-numeric columns are not editable by design.
Clicking the red dot in the corner does nothing That dot is a comment marker. Right-click → Edit comment, or Cmd + K → Open comment.
Switching statement tabs closed my DCF side panel By design — switching tabs remounts the grid, which closes any side panel that was tied to the previous selection.
No sparklines appear The current statement has only one period, or the sparkline toggle in View Settings is off.
Excel shows #REF! after opening The sheet name has special characters or the source cell is hidden. Re-export with all columns visible.
I finished the tour but want to see it again Click the ❓ button at the top right, or run localStorage.removeItem('explorer-tour-v23').
Overview pop-out window receives no data cross-window sync is disabled. Exit private mode or allow third-party cookies.
No data bars The row has only a single non-empty value, or the data bar toggle in View Settings is off.
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