TETSUJIN Inc. announced a private placement of 1,545,000 common shares at a price of ¥360 per share for gross proceeds of ¥556,200,000 on April 16, 2018. The transaction will take place through third party allotment. The transaction was approved by the board of directors of the company.

The transaction will include participation from existing investor FIRST PACIFIC Capital Co.for 655,000 shares, new investors Ltd., Exing Co., Ltd. for 385,000 shares, and Daiichikosho Co., Ltd. (TSE:7458) 505,000 shares. Post the closing, the investors will hold 39.81%, 6.51%, and 6.51% stake respectively in the company. The company will pay ¥3,000,000 as issue expenses in the transaction.

The transaction is expected to close on May 8, 2018.