BARRA announces purchase of 100 percent of Japan subsidiary.(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BARZ) announced today that it has exercised its option to purchase all issued and outstanding common stock held by the Nikko Nikko (nēk`kō), town (1990 pop. 20,128), Tochigi prefecture, central Honshu, Japan, in Nikko National Park. It is a tourist resort and religious center, famous for its ornate temples and shrines, dating from the Yedo period (1600–1868) Group (The Nikko Securities Co. Ltd. and The Nikko Building Co. Ltd.) in N.B. Investment Technology Co. Ltd. (N.B. Technology), a Japan-based company. BARRA BARRA Bangladesh Rural Reconstruction Association exchanged 252,000 shares of BARRA common stock for the Nikko Group's remaining 35 percent interest in the jointly owned company. In October October: see month. 1992, BARRA entered into an Options Agreement with the Nikko Group, whereby BARRA obtained an option to purchase all of the issued and outstanding common stock of N.B. Technology held by the Nikko group, in four installments over a period of three years. Over the three year-period, BARRA exchanged an aggregate of 400,000 shares of BARRA common stock for all of the Nikko Group's N.B. Technology stock. "This step emphasizes the independence of N.B. Technology while reaffirming our commitment to the Japanese market," said Andrew Rudd, chief executive officer of BARRA. "At the same time we look forward to continuing a successful business relationship with the Nikko Group's Securities in which we will cooperate to extend and enhance our investment technology applications for the Japanese market." As more fully discussed in BARRA's recently filed Form 10-Q Form 10-Q See 10-Q. , N.B. Technology simultaneously exercised a related option to purchase all of the marketing and other rights held by the Nikko Group in the Japan Equity, Fixed Income, and Convertible Bond Models. N.B. Technology was created in September 1986 as an equally owned joint venture between BARRA and the Nikko Group. N.B. Technology had revenues equivalent to approximately $4.6 million U.S. dollars for the six months ended Sept. 30, 1995. The results of N.B. Technology have been consolidated with those of BARRA for reporting purposes since 1992. BARRA, founded in 1975, provides innovative analytical analytical, analytic pertaining to or emanating from analysis. analytical control control of confounding by analysis of the results of a trial or test. models, software and services that enable its more than 850 clients worldwide to make superior investment and trading decisions. BARRA's software and services analyze equity, fixed income, currency and other financial markets, and their models are the worldwide standard for communicating portfolio characteristics. Based in Berkeley, BARRA also has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Montreal, London, Frankfurt, Paris, Yokohama, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Sydney. Information on BARRA is also available on-line at http://www.barra.com. CONTACT: BARRA Inc., Berkeley Andrew Rudd or Jim Kirsner, 510/548-5442 |
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