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| Crosswave Communications, Inc. |
| Crest Yasuda Bldg. 3-21 Kanda Nishiki-cho Chiyoda-ku, Tokyo, Japan 101-0054 |
| Business Description | The company is a pioneer in the introduction of broadband data communications infrastructure and services to businesses and telecommunications carriers in Japan, including the high-speed backbone, wide area Ethernet platform, data center and other value added services. |
| Offering Information Company has | |||
| Trading As | CWCI (NASNTL) | Industry | Telecommunications (SIC 4813) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 7/10/00 |
| Domestic Shares Offered | 17,392,000 | Offer Date | 8/3/00 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 17,392,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.880 |
| Gross Proceeds | $243,488,000 | Selling | $0.520 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 100,392,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| J.P. Morgan & Co. | Co-manager | (212) 648-0517 |
| Robertson, Stephens & Company | Co-manager | (415) 989-8500 |
| 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 | 3/31/00 | ||||||
| Revenues | - | - | - | - | 2.256 | - | - |
| Income from Oper. | - | - | - | - | -74.564 | - | - |
| Net Income | - | - | - | - | -76.407 | - | - |
| E.P.S | - | - | - | - | -2.270 | - | - |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -38.77 | - | - | ||||
| Cash Flow - Inv. | -16.77 | - | - | ||||
| Cash Flow - Fin. | 125.31 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 273.45 | Current Assets | 123.11 | Current Ratio | 1.57 |
| Total Liab. | 157.40 | Current Liab. | 78.26 | Debt Ratio | 57.56% |
| Total Equity | 116.05 | Working Cap. | 44.85 | Debt to Equity Ratio | 1.36 |
| Cash | 119.14 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for nationwide and metropolitan networks; for local access infrastructure; for international backbone; for data centers; and for other expenditures, including payments related to the KDD / IRU agreement, and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Sullivan & Cromwell |
| Bank's Law Firm | Simpson, Thacher & Bartlett |
| Auditor | Arthur Andersen |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Internet Initiative Japan, Inc. | 40.00 | |
| Toyota Motor Corporation | 30.00 | |
| Sony Corporation | 30.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||