I found your figure in the MyFigureCollection database; the info does match the eBay listing - https://myfigurecoll....net/item/12308
So random question, I searched and thought this was as good a place as any to ask...
I don't normally collect these figures, but I happened to buy one on a whim at Goodwill recently. The figure is fixed, no movable limbs. There's a pin in the right foot though, that's really long. Almost as tall as the whole figure and slides into the foot. I can't tell if it's supposed to be that way, maybe it connects to a stand that wasn't included? It's this Sega figure from 1998 - YURIKA MISUMARU Nadesico
As for the pin, the only thing I could think of is that the figure is hollow. This is a common indicator of a soft vinyl figure, but those often don't need stands. The MFC listing doesn't include any information that indicates either soft vinyl or a stand, but when checking on a couple of more popular figures from the same product line (Utena, Anthy, photo of both), that info came up.
So yeah, it seems like your Nadesico figure originally included a stand (as well as a trading card and CD), and the reason why the peg is so long is because of the material used and the manufacturing process.