NEW YORK, Oct. 13, 2006 (PRIMEZONE) -- The NASDAQ Stock Market LLC and the JASDAQ Securities Exchange, Inc. (JASDAQ) today announced the signing of a Memorandum of Understanding. The signing ceremony will take place in New York at NASDAQ's corporate headquarters in downtown Manhattan.
NASDAQ and JASDAQ have entered into this agreement to explore areas of mutually beneficial and meaningful cooperation with a view to reaching definitive agreements in the future. These areas will be in the interests of maintaining fair and orderly markets and will be in the best interests of listed companies.
Bob Greifeld, President and CEO of The Nasdaq Stock Market, Inc. said, "NASDAQ looks forward to further strengthening our relations with JASDAQ and formalizing working agreements in the future. NASDAQ has been involved in the Japanese and other Asian markets for many years, beginning with our first Japanese listings back in 1971. We believe there will be a number of channels of cooperation to explore with JASDAQ."
Takashi Tsutsui, the president and CEO of JASDAQ said, "JASDAQ is very pleased to develop a complementary trans-Pacific relationship with NASDAQ, as both exchanges are the home of IPOs in their respective markets. We hope that our cooperation will contribute to the substantial benefit of investors, listed companies and other participants in the market as well as serve the concrete interest of each exchange."
NASDAQ currently lists 11 Japanese companies, and these companies' combined global market capitalization is approximately US$ 153 billion. The companies are:
NSANY: Nissan Motor Co Ltd
MLEA: Millea Holdings Inc
MITSY: Mitsui & Company Ltd
FUJIY: Fuji Photo Film Co Ltd
NIPNY: NEC Corporation
TMIC: Trend Micro Incorporated
MKTAY: Makita Corp Ltd
DAIEY: Daiei Inc
SANYY: Sanyo Electric Co Ltd
WACLY: Wacoal Holdings Corporation
IIJI: Internet Initiative Japan
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
JASDAQ is the largest IPO market with nearly 1,000 listed companies in Japan. It has greatly contributed to the promotion of venture-SMEs that support the Japanese economy, promoting next generation industries and preceding the change of industrial organization. For more information about JASDAQ, visit the JASDAQ Web site at http://www.jasdaq.co.jp.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein may contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include, but are not limited to, statements about the nature and timing of the proposed cooperation between Nasdaq and Jasdaq. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ's control. These factors include, but are not limited to factors detailed in NASDAQ's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.