FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For August 20, 2003
Commission File Number: 0-30204
Internet Initiative Japan Inc.
(Translation of registrant's name into English)
Jinbocho Mitsui Bldg. 1-105 Kanda Jinbo-cho, Chiyoda-ku, Tokyo 101-0051, Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F:
Form 20-F [ X ] Form 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as per-mitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of
a Form 6-K if submitted solely to provide an attached annual report to security
holders.
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as per-mitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of
a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of
the jurisdiction in which the reg-istrant is incorporated, domiciled or legally
organized (the registrant's "home country"), or under the rules of the home
country exchange on which the registrant's securities are traded, as long as the
report or other document is not a press release, is not required to be and has
not been distributed to the registrant's security holders, and, if discussing a
mate-rial event, has already been the subject of a Form 6-K submission or other
Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No [ X ]
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- -------------
THIS REPORT ON FORM 6-K SHALL BE DEEMED TO BE INCORPORATED BY REFERENCE IN
THE PROSPECTUS INCLUDED IN THE REGISTRATION STATMENT ON FORM F-3 (FILE NO.
333-12696) OF INTERNET INITIATIVE JAPAN INC. AND TO BE A PART THEREOF FROM THE
DATE ON WHICH THIS REPORT IS FURNISHED, TO THE EXTENT NOT SUPERSEDED BY
DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.
EXHIBIT INDEX
Exhibit Date Description of Exhibit
------- ---- ----------------------
1 08/20/2003 IIJ Makes Statement Regarding Crosswave's Filing
for Corporate Reorganization Proceedings
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Internet Initiative Japan Inc.
Date: August 20, 2003 By: /s/ Koichi Suzuki
-----------------------------------
Koichi Suzuki
President, Chief Executive Officer and
Representative Director
EXHIBIT
IIJ Makes Statement Regarding Crosswave's Filing for
Corporate Reorganization Proceedings
TOKYO--(BUSINESS WIRE)--Aug. 20, 2003--Internet Initiative Japan
Inc. (IIJ, NASDAQ: IIJI), a leading Internet access and comprehensive
network solutions provider in Japan, today issued a statement about
the simultaneous filing today by Crosswave Communications Inc.
("Crosswave", NASDAQ: CWCI), a 37.9% owned affiliate of IIJ, and two
Japanese subsidiaries of Crosswave, Crosswave Facilities Inc. and
Crosswave Services Inc., of voluntary petitions with the Tokyo
District Court in Japan for corporate reorganization proceedings. The Court
accepted the filing, appointed Masaaki Oka as the preservative administrator
and issued an order to preserve the assets of Crosswave and the subsidiaries
from creditors. Corporate reorganization proceedings are proceedings to
rehabilitate an insolvent company similar to Chapter 11 bankruptcy proceedings
in the United States. Crosswave has announced that it intends to begin the
process of restructuring its business operations and finances under
the management of the preservative administrator and supervision of
the Tokyo District Court.
Crosswave currently owes IIJ approximately JPY 1.72 billion in
loans. IIJ will owe banks JPY 5.0 billion under a cash deficiency
support agreement in connection with bank loans made to Crosswave.
Such obligation will likely be set off against IIJ's current security
deposit of JPY 5.0 billion with the banks, which would increase
Crosswave's indebtedness to IIJ by the same amount pursuant to the
terms of the cash deficiency support agreement. The book value of
IIJ's equity interest in Crosswave under U.S. GAAP was JPY 828 million
as of June 30, 2003. IIJ expects that these claims and equity
interests in Crosswave will become of no or little value as a result
of the corporate reorganization proceedings and related developments.
IIJ believes that the reorganization filing will seriously impact
IIJ's financial position and results of operations, but IIJ itself
does not plan to seek any judicial relief for protecting its own
assets. IIJ plans to undertake efforts to obtain new funding and to
improve its financial condition as soon as possible.
Crosswave provides IIJ with a significant portion of IIJ's
network, data center facilities, network, and telecommunications
facilities. Under Japanese corporate reorganization proceedings, IIJ
will be unable to vote its shares in Crosswave or otherwise control or
influence the operation or management of Crosswave. However, as
Japanese corporate reorganization proceedings are aimed at ensuring
the continuity of the entity and provide the company with protection
from creditors while a determination is being made as to the
feasibility of reorganization, IIJ believes that Crosswave will
continue to provide its services as before during this period, and
thereafter if reorganization is approved by the Court. IIJ itself
plans not only to continue offering existing services, but to continue
to actively provide new services to meet its customers needs.
IIJ intends to continue providing its clients with high quality
services based on its cutting-edge technology as a leading Internet
access and comprehensive network solutions provider, and appreciates
the continued understanding and support of its valued customers.
About IIJ
Founded in 1992, Internet Initiative Japan Inc. (IIJ, NASDAQ:
IIJI) is Japan's leading Internet-access and comprehensive network
solutions provider. The company has built one of the largest Internet
backbone networks in Japan, and between Japan and the United States.
IIJ and its group of companies provide total network solutions that
mainly cater to high-end corporate customers. Services range from the
delivery of new generation network services over an optical-fiber
infrastructure that is optimized for data communications, to the
construction of pan-Asian IP backbone networks. The company also
offers high-quality systems integration and security services,
internet access, hosting/housing, and content design.
About Crosswave
Crosswave Communications Inc. (Crosswave, NASDAQ: CWCI) is a data
communications carrier offering customers reliable and versatile
broadband networks and network services, enabling them to streamline
and innovate their business infrastructure. Founded in 1998 by
Internet Initiative Japan (NASDAQ: IIJI), Sony Corporation (NYSE: SNE)
and Toyota Motor Corporation (NYSE: TM), the Company has made
groundbreaking changes in the Japanese telecommunications market by
offering a completely data-centric network. Currently, 90% of the
traffic on Crosswave's nationwide network infrastructure is
Ethernet-based, provided mainly through its flagship, Wide-area
Ethernet Platform Service. Launched in 1999, the Wide-area Ethernet
Platform service introduced a brand new type of network service to the
market. The Company's fully integrated data centers and other services
have redefined the role of carrier services by accommodating entire
corporate system requirements. With the quality of its networks and
its wide-ranging value-added features, the company has been a pioneer
in the development of the data communications market in Japan. The
Company offers its services to a diverse base of over 400 customers
including many blue-chip companies in Japan.
Cautionary Notice Regarding Forward-looking Statements
Statements made in this press release with respect to IIJ's plans,
objectives, strategies, intentions, beliefs, predictions and other
statements that are not historical facts are forward-looking
statements about the future performance or intentions of IIJ, and are
based on management's expectations, assumptions, estimates,
projections and beliefs in light of information currently available to
it. These forward-looking statements, such as statements regarding
IIJ's and Crosswave's ability to continue offering services, are
subject to various risks and uncertainties that could cause actual
results to be materially different from those described in the
forward-looking statements. Potential risks and uncertainties include,
without limitation, the ability of Crosswave to continue as a going
concern, the adverse impact of the filing for corporate reorganization
of Crosswave on IIJ's business operations, management, employees and
customers, the outcome and timing of Crosswave's efforts to
restructure; and other risks referred to from time to time in IIJ's
filings with the Securities and Exchange Commission.
CONTACT: IIJ Group Media/Investor Relations Office
+81-3-5259-6310
press@iij.ad.jp
http://www.iij.ad.jp/