Nihon Seimitsu Co., Ltd. (JASDAQ:7771) announced a private placement of 944,000 common shares of the company at an issue price of ¥106 per share for gross proceeds of ¥100,064,000 on November 22, 2018. The transaction involved participation from returning investor GENCO Inc. and will increase its stake in the company from 22.19% to 25.96%, post the transaction. The securities were issued through third party allotment method. The transaction was approved by the board of directors of the company. The payment date of the transaction is December 11, 2018. The company will pay approximately ¥1,200,000 as issue expense, including attorney fees of ¥500,000, registration fees of ¥500,000 and other expenses of ¥200,000. The company will receive net proceeds of ¥98,864,000.