NTN Courts Overseas Investors

NTN Corp. (Japan; TSE: 6472) is taking steps to broaden its investor base beyond Japan, and even the Pacific Rim nations. A number of publicly-traded Japanese companies have taken similar steps recently; broadening the base of shareholders is seen as a way to avoid or lessen the impact of Japan's investment market volatility. Also, NTN is currently in the process of ending a number of cross-shareholding agreements forged with Japanese investment banks. Those shares hitting the market would potentially drive down the company's share price, shares which overseas investor interest could help absorb. Road shows have already been given for two dozen institutional investors in Europe; next up are presentations across the Middle East and finally North America. In 2002, shareholders outside Japan accounted for only 7% of NTN's share. Today, that level of international investors is close to 20%.