TETSUJIN Inc. announced that it expects to receive ¥1.499999874 billion in funding from FIRST PACIFIC Capital Co., Ltd.
July 15, 2020
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TETSUJIN Inc. (TSE:2404) announced a private placement to issue 5,415,162 common shares at issue price of ¥277 per share for gross proceeds of ¥1,499,999,874 on July 15, 2020. The transaction will include participation from returning investor, FIRST PACIFIC Capital Co., Ltd.. The investor will hold 64.5% stake in the company post closing of the transaction. The funding will be raised through third party allotment. Of the total capital increase, ¥749,999,937 will go to the capital reserve of the company. The company incurred expenses of ¥19,999,874 in relation to the transaction receiving net proceeds of ¥1,480,000,000. The transaction is expected to close on August 3, 2020. The transaction has been approved by the board of directors of the company.
TETSUJIN Holdings Inc, formerly Tetsujin Inc, is engaged in the karaoke room management business, as well as the food and beverage business, beauty business, and media and content planning business. The Company operates through four segments. The Karaoke Room Management segment operates karaoke stores under the KARATEZ brand in the Tokyo metropolitan area. The Food and Beverage segment focuses on the ramen business under the Naokyu brand, and sells to directly managed stores as well as franchisee stores and retail distribution companies. It also operates Kyoto Katsugyu and Akakara. The Beauty segment operates eyelash extension and nail salons under the Bianca brand in the Tokyo metropolitan area and the Rich to brand in the Chukyo area. The Media and Content Planning segment is engaged in the production, sale, and distribution of mobile content for mobile phones. The Company also carry out collaboration projects such as anime.