NEW YORK (CNN/Money) - The Nasdaq Stock Market is considering pulling the plug on its joint venture in Japan, which would deal a blow to the idea of a 24-hour global stock market, according to a published report Tuesday.

Nasdaq Japan Inc., the joint venture between the Nasdaq and Japanese Internet firm Softbank Corp., is telling companies listed on the market that chances of Nasdaq pulling out are strong, according to the Wall Street Journal.

Last week, the Nasdaq said it will take a $10.3 million charge on its investment in Japan and will decide the fate of the venture by the end of August, the paper reported.

Nasdaq Japan was launched in 1999 at the height of the technology boom with the promise of listing international companies on Nasdaq through its posts in Asia and Europe and linking their trading electronically, according to the Journal.

But as the tech bubble burst and the Nasdaq Composite Index dropped 74 percent from its height, many of the companies that fueled the exchange's rise have gone out of business and initial public offerings have all but dried up.

Most of the 98 companies that are listed on Nasdaq Japan did so because of the Nasdaq name and also have parent companies listed in the United States, such as coffee retailer Starbucks (SBUX: Research, Estimates) and real-estate firm Kennedy Wilson (KWIC: Research, Estimates), the paper reported.

If the Nasdaq does pull out, those companies may continue to be listed on the Osaka Securities Exchange, but some companies have expressed reservations about being listed there, according to the Journal.