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Technology Stocks : Net Perceptions, Inc. (NETP) -- Ignore unavailable to you. Want to Upgrade?

To: ynot who wrote (1458)	7/24/1999 7:16:00 AM
From: puborectalis	Read Replies (1) \| Respond to of 2908

Net Perceptions to Set Up 100 Mln Yen Web Software JV in Japan Bloomberg News July 24, 1999, 2:05 a.m. PT Tokyo, July 24 (Bloomberg) -- Net Perceptions Inc., a U.S. maker of software that helps Web retailers predict what customers will buy, said it will form a joint firm next month with three Japanese companies to sell and service its products in Japan. Net Perceptions Japan K.K., will be capitalized at 100 million yen ($857,339), 45 percent owned by Net Perceptions, with the rest held by Trans Cosmos Inc., a Japanese data processing company that invests in Internet-related ventures; NTT Software Corp. and Toyo Information Systems Co. ''Our plans include localizing products, training and providing service conveniently to Japanese customers,'' Steven Snyder, chief executive of Net Perceptions, said in a written statement. ''This is a big advantage, as this market continues to mirror the U.S. in its Web evolution.'' The Minneapolis-based company said its Japanese partners will help it sell to more customers like Askul, a Japanese mail order, fax and Web-based office supplies retailer, which uses Net Perception software to help market its products on the Internet. Net Perceptions raised $451.1 million in an April 23 initial offering in which its share price more than doubled on the first day it traded. The company also posted a loss of $2.9 million, or 19 cents a share, on revenue of $1.9 million in the first quarter. It charges a one-time fee for licensing its software and annual fees depending on the rise in business among its customers. Its software sells for about $135,000. Net Perceptions has no plans to earn a profit before the end of 2000, according to regulatory filings. Net Perceptions competes with San Diego, California-based HNC Software Inc. and others.