Nasdaq is a financial trading institution in New York, but it is different from the NYSE. The biggest difference is that Nasdaq uses electronic trading, while the NYSE uses broker trading.
Nasdaq is a platform for small companies to raise funds without being listed on the stock exchange. It collects and publishes the quotes of unlisted shares over the counter. It is also the first stock exchange in the world to use electronic trading.
Nasdaq's growth had shocked the world. Their over-the-counter trading method does not require brokers. That's why many people felt Nasdaq is not a real stock exchange. It should be considered a virtual market!
But this Nasdaq will occupy more than half of the US stock exchanges in the future, and the Nasdaq index is one of the most important indicators of the stock market.
It is worth mentioning that Microsoft and Apple are listed on NASDAQ.
Of course, the NYSE can also use the internet and phone to trade, but it is not as convenient as Nasdaq.
This time, the Sixth Sense Company had chosen to be listed on Nasdaq. This is because Nasdaq's listing requirements are the lowest among all the stock exchanges. It is much lower than the New York Stock Exchange, Tokyo Stock Exchange, London Stock Exchange, Hong Kong Stock Exchange, etc.
The requirements to be listed on Nasdaq are tangible assets of more than 6 million USD. The previous year's pre-tax income must be more than 1 million USD. The number of outstanding shares must be more than 1.1 million. There must be more than 3 market makers, and the minimum price of each share must be 5 USD. The number of shareholders must be more than 400.
Most stock exchanges will look at the previous 3 years' pre-tax income and the market value of the publicly held shares. The number of shareholders must be more than 2,000, and the tangible assets must be more than 18 million USD.
Because of Nasdaq's benefits, many companies will be listed on Nasdaq. Among them, most of the companies are small and medium-sized enterprises. This allows these small companies to raise their capital quickly. Nasdaq is similar to China's Growth Enterprise Market in Feng Yu's previous life.
The Sixth Sense Company's assets and taxes met the requirements. But it does not have enough shareholders. This is because the Sixth Sense Company only has a few hundred employees with lifetime contracts. That's why it does not have enough shareholders.
Japanese companies all have this type of employees with lifetime contracts. However, this type of contract is usually only provided to Japanese employees. Foreign employees rarely get it. This type of contract is very common in big Japanese companies. As long as the employee does not make any mistakes or commit any crimes, he or she can stay in this company for the rest of their lives.
Also, these companies will increase the salaries of these employees according to their seniority. Some companies, like Panasonic, have another benefit. If their employees are single, they will ask their male employees' wives to resign and stay at home to take care of their families. At the same time, the male employees' salaries will increase by 50% or even double. This depends on the wife's pre-marriage salary. In Japan, female employees' salaries are only half of their male employees' salaries.
In this aspect, the Japanese companies were still considered humane. However, what they protected the most was still the interests of their own people. The Sixth Sense Company had more than 5,000 employees. But only a few hundred of them had lifetime contracts. This was because the rest of them were from Europe, America, and Asia. Some of them were not even working in Japan. For the sake of profits, Masao Kameda would not give these people the same lifetime contracts.
If the company had any accidents, or the company's operations were not doing well, and there was a need to lay off the employees, they could lay off these ordinary contract employees. This was because the compensation would be much lesser based on the duration of the contract.
Of course, Masao Kameda will not tell the media about this. If he told them, the media would ask why those employees who were not on lifetime contracts could not buy the Sixth Sense Company's shares internally.
Of course, they could. For example, those mid-level managers in overseas markets could buy the Sixth Sense Company's shares internally. But it was not like the Japanese headquarters. A lifetime contract security guard could buy the Sixth Sense Company's shares.
Feng Yu had some complaints about this. All of them were employees of the Sixth Sense Company, and they can set a working age limit. This way, more people will buy the Sixth Sense Company's shares, and the company will be more cohesive.
But Masao Kameda explained that the Sixth Sense Company's overseas employees were mainly salespeople. Everyone knew the turnover of salespeople was the highest, and the elimination rate was very high. Feng Yu could not just give these salespeople a long-term contract just because they had performed well for the past two years. The Sixth Sense Company would only give short-term contracts to their salespeople unless they could become a top salesperson. If that was the case, they would be able to get a management position and could still buy the company's shares.
Feng Yu could not refute this. He was not as familiar with the Sixth Sense Company as Masao Kameda. Even when it came to managing the company, he was still lacking compared to Masao Kameda.
He did not use his position as the major shareholder to pressure Masao Kameda. He just followed Masao Kameda's instructions. Since Masao Kameda started managing the Sixth Sense Company, the company's growth had exceeded Feng Yu's expectations. Unknowingly, the Sixth Sense Company had grown into a world-class sex toy company. Sex dolls, lingerie, masturbation devices, and condoms were the company's biggest source of profits.
Among these four products, sex dolls and lingerie had become the world's number one in terms of market share and sales. Regardless of Asia, Europe, or the US, the Sixth Sense Company was the number one.
As for the remaining two products, the Sixth Sense Company's market share and sales were increasing. Although there was still a gap between the Sixth Sense Company and the world leader, the gap was still closing.
As the Japanese sex toy industry's exports to the US and Europe increased, Masao Kameda believed that the sales of masturbation devices will increase. In this aspect, Japan's design was the best in the world!
Condoms were the Sixth Sense Company's new source of profits. Although the sales were good, they were not even the top in Japan, let alone the top in Asia or the world. Currently, Japan's top condom brand was Okamoto, and it was suppressing the Sixth Sense Company.
Masao Kameda was preparing to invest in the development of condoms for this listing. He wanted to defeat Okamoto in China first and then dominate Asia and the world.
Feng Yu was not optimistic about Masao Kameda's ambition. Feng Yu was not sure if they could defeat Okamoto, let alone the rest of the world's major companies.
But the condom market will continue to grow, and Feng Yu agreed with this. It was necessary to increase the company's R&D after the financing.
If it wasn't for Feng Yu taking away the Sixth Sense Company's profits several times, the financing would not be so high.
For this listing, Feng Yu and Masao Kameda were confident. This was because the few market makers they had found were the world's top financial market makers!
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