I'm not sure if that WSJ story on Ryoma paints Son out to be a cult leader or not <G>. Anyway, these were stories posted to Bloomberg on the Nasdaq Japan:
Nasdaq Japan Attracting Profit-Making Hopefuls, Paper Says
By Jason Singer
Tokyo, June 15 (Bloomberg) -- Nasdaq Japan Inc., which will open Japan's newest stock market on June 19, is attracting more profitable companies than the Tokyo Stock Exchange's ``Mothers'' board for startups, Nikkei English News reported, citing research by Teikoku Databank Ltd. About 80 percent of the 74 companies planning to go public on Nasdaq Japan earned a net profit in 1999, compared to 66 percent of the 35 companies angling to sell shares on Mothers, an acronym for market of high growth and emerging stocks. Teikoku's research showed that 25 of the firms planning to list on Nasdaq Japan are Internet and technology companies, the largest group, followed by biotechnology, manufacturers, wholesalers and retails.
Nasdaq Japan, a joint venture between the U.S.'s National Association of Securities Dealers and Japan's Softbank Corp., will open with trading in shares of eight companies.
(Nikkei English News, 6/15)
Morningstar Japan's Initial Share Sale to Raise $66 Million
By Teo Chian Wei
Tokyo, June 14 (Bloomberg) -- Morningstar Inc.'s Japanese unit said it will sell 7 billion yen ($66 million) of shares in an initial public offering, one of the first times for a closely held U.S. company to take its Japanese subsidiary public.
The Chicago-based firm and Japan's Softbank Corp. are selling part of their stakes in Morningstar Japan K.K., which is involved in the same business of rating mutual funds as its U.S. parent. Together with new shares being issued, a total of 1,000 shares are being sold at 7 million yen each, the top end of a range given to investors.
``Morningstar Japan will expand its Internet business to provide information which other companies cannot,'' the company said in its prospectus. The firm will spend the proceeds on boosting its coverage of bonds and currencies, in addition to its stock and IPO reports. It will receive about 40 percent of the proceeds.
The Japanese company will be the ninth firm to have its shares traded on Nasdaq Japan Inc.'s new market, which starts Monday. The stock starts trading on June 23. Nasdaq Japan is a joint venture between the National Association of Securities Dealers and Softbank. |
