Data Sources and Terms of Use

Stock prices are closing prices and other market quotations that we receive from Tokyo Stock Exchange, Inc. They are "Exchange Data" under Article 8, paragraph 4 of the Terms of Service and are available only to registered users who have agreed to that paragraph.

On every Plan, Exchange Data must not be displayed, provided, redistributed, transferred or published to third parties (including display in your own apps or websites). When quoting a very small number of values in a document, clearly credit the source as "Source: Tokyo Stock Exchange, Inc."

Valuation metrics that we calculate from stock prices and financial figures, such as market capitalisation, PER, PBR and dividend yield, are not Exchange Data and are governed by the other paragraphs of Article 8 (such as display on the Business Plan or higher).

Documents disclosed on TDnet themselves (PDFs, text and copies of earnings reports and other disclosure materials, and the links to those files returned by the Service) are Exchange Data and must not be provided to third parties.

Data that we extract, normalise or analyse from those documents (financial figures, forecasts, dividends, indicators, aggregates, etc.) is not Exchange Data and is governed by the other paragraphs of Article 8.

Data from annual securities reports, semi-annual reports, large shareholding reports and similar filings is extracted, normalised and calculated by us from documents published on EDINET, the electronic disclosure system of the Financial Services Agency of Japan.

Documents published on EDINET themselves (PDFs and other files, including those obtained from the Service’s servers) may be displayed or provided in a User Service on the Business Plan or higher.

When displaying this data in a User Service, show the source and that the data has been processed, for example: "Data provided by ZENITH Code (sources: TDnet, EDINET and company disclosures; processed by ZENITH Code)". The Financial Services Agency is not responsible for the content of processed data.

Some US economic indicators are retrieved from FRED, operated by the Federal Reserve Bank of St. Louis. The Service does not provide series that carry a third-party copyright notice on FRED and require the rights holder's permission.

When displaying this data, credit the source as "Source: FRED, Federal Reserve Bank of St. Louis". The Federal Reserve Bank of St. Louis does not endorse or guarantee the Service or your User Service.

Rights in data that we calculate or organise ourselves, such as financial ratios, growth rates, trailing-twelve-month (TTM) figures, rankings, screening results, sector classifications, entity matching and scores, belong to us. It may be displayed in a User Service only on the Business Plan or higher, with the credit "Data provided by ZENITH Code (sources: TDnet, EDINET and company disclosures; processed by ZENITH Code)" (Article 8, paragraphs 2 and 7).

Before we start providing data from a third-party data provider licensed to us, we will add the provider's name and any additional conditions (such as keeping rights notices and cooperating with usage reporting) to this page. You must not remove or alter rights notices attached to the data.

When sources are added or conditions change, we update this page and show the date of the update. We give advance notice of material changes in accordance with the Terms of Service.