Owari Precise Products Co.,Ltd. (NSE:7249) announced a private placement of 200,000 treasury shares at ¥257 per share with Chuetsu Metal Works Co., Ltd. for gross proceeds of ¥51,400,000 on July 11, 2013. The transaction is expected to close by July 31, 2013.

On July 12, 2013, the company announced that the shares will be issued by third-party allocation. The transaction has been approved by the board of the company. The disposal date is July 31, 2013.

On July 31, 2013, Owari Precise Products Co.,Ltd. closed the transaction. The investor holds 1.71% stake in the company upon closing.