Nichiryoku Co.,Ltd. (JASDAQ:7578) announced a private placement to issue up to 1,404,700 common shares at a price of up to ¥711.9 for a total gross proceeds of up to ¥1,000,005,930 and up to 5,682 stock acquisition rights at a price of up to ¥1,000 for a total gross proceeds of up to ¥5,682,000 on September 18, 2020. The transaction will include participation from Corporate Value-up Fund L.P. a fund managed by Palace Capital Co., Ltd. The transaction is expected to close on October 5, 2020. The stock acquisition rights are convertible into 568,200 common shares of the company at an initial exercise price of ¥10 per share. The company will issue common shares and stock acquisition rights through third-party allotment. The transaction has been approved by the board of directors of the company.