103R, Inc. announced a private placement of 672 shares at ¥ 60,267.857143 per share for gross proceeds of ¥40,500,000 on November 12, 2018. The transaction will include participation from new investor, Fujisan Magazine Service Co.,Ltd. (TSE:3138). On closing, the investor will hold 77.1% stake in the company. The company and the investor entered into a contract for the transaction. The settlement for the transaction is expected on the same date. The company will incur ¥500,000 as part of total advisory costs and other expenses of ¥100,000 as part of the transaction to earn net proceeds of ¥39,900,000. The transaction was approved by the board of directors of the investor on the same date.