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| Internet Initiative Japan, Inc. |
| Takebashi Yasuda Building., 3-13 Kanda Nishiki-cho, Chiyoda-ku, Tokyo, Japan 101-0054 |
| Business Description | The company offers a comprehensive range of Internet access services and Internet related services to customers, including corporations and other Internet service providers in Japan. |
| Offering Information Company has | |||
| Trading As | IIJI (NASNTL) | Industry | Internet (SIC 7375) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 07/14/1999 |
| Domestic Shares Offered | 7,160,000 | Offer Date | 08/03/1999 |
| Foreign Shares Offered | 0 | Filing Range | $18.00 - $20.00 |
| Company Shares | 7,160,000 | Offer Price | $23.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.550 |
| Gross Proceeds | $164,680,000 | Selling | $0.930 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Morgan Stanley Dean Witter | Co-manager | (212) 761-5900 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 03/31/1999 | ||||||
| Revenues | - | - | - | - | 124.705 | - | - |
| Income from Oper. | - | - | - | - | -11.070 | - | - |
| Net Income | - | - | - | - | -12.063 | - | - |
| E.P.S | - | - | - | - | -0.320 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | 3.38 | - | - | ||||
| Cash Flow - Inv. | -31.20 | - | - | ||||
| Cash Flow - Fin. | 26.90 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 03/31/1999 | Financial Ratios | ||||
| Total Assets | 112.80 | Current Assets | 41.81 | Current Ratio | 0.47 |
| Total Liab. | 108.71 | Current Liab. | 88.39 | Debt Ratio | 96.37% |
| Total Equity | 4.10 | Working Cap. | -46.58 | Debt to Equity Ratio | 26.55 |
| Cash | 8.96 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to further develop our network, including international expansion and the building of additional data centers, for investments in affiliates, including Crosswave, IIJ Technology and Asia Internet Holding, to pay the current portion of long-term borrowings and for general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Sullivan & Cromwell |
| Bank's Law Firm | Davis, Polk & Wardwell |
| Auditor | Deloitte & Touche |
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