TOP CULTURE Co.,Ltd. announced that it expects to receive ¥2.1 billion in funding from DaI Co., Ltd, Development Bank of Japan Inc., Culture Convenience Club Co., Ltd.
July 15, 2021
Share
TOP CULTURE Co.,Ltd. announced a private placement of 21,000 shares at a price of ¥100,000 per share for gross proceeds of ¥2,100,000,000 on July 15, 2021. The company will issue 15,000 shares of Class A preferred stock and 6,000 shares of Class B preferred stock. The company has made the placement through third-party allotment. The transaction will include participation from DaI Co., Ltd for 12,000 shares, Development Bank of Japan Inc. for 3,000 shares and returning investor Culture Convenience Club Co., Ltd. for 6,000 shares. On the same day, the company held the meeting of board of directors. The transaction is expected to close on August 31, 2021 or on a date separately determined at the general meeting of shareholders. The company will held extraordinary general meeting of shareholders on August 27, 2021. The company has incurred the operating expenses of approximately ¥71,000,000.
TOP CULTURE Co., Ltd. is a company mainly engaged in the operation of retail business. The Company operates in four business segments. The Tsutaya Bookstore segment is mainly involved in the operation of large-scale complex stores under the name Tsutaya Bookstore which primarily engages in the sale of books, stationery, compact discs (CDs) and digital versatile discs (DVDs), as well as the rental of CDs and DVDs. The Sports-related segment includes soccer clubs and soccer schools, as well as planning and management of sports facilities. The Home Visit Nursing segment operates a home-visit nursing station for the brain and heart, and conducts home-visit nursing business focusing on mental illness and dementia. The Others segment engages in sale of used books, music and video software, game consoles and game software, as well as operation of Top Books in Used Books stores.
TOP CULTURE Co.,Ltd. announced that it expects to receive ¥2.1 billion in funding from DaI Co., Ltd, Development Bank of Japan Inc., Culture Convenience Club Co., Ltd.