Abalance Corporation announced that it expects to receive ¥224.1712 million in funding from AZAPA Co. LTD and other investors
November 24, 2020
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Abalance Corporation (TSE:3856) announced private placement of 108,400 shares at a price of ¥2,068 per share for gross proceeds of ¥224,171,200 on November 25, 2020. The transaction will include participation from existing investor Junsei Ryu for 24,100 shares and new investors Mariko Aida for 24,100 shares, Koji Hamano for 14,500 shares, Kenichi Nabeshima for 14,500 shares, AZAPA Co., Ltd. for 9,600 shares, Yasuaki Mitsuyuki for 4,800 shares, Hiroshi Wakasa for 4,800 shares, Kiyomasa Hamano for 4,800 shares, Masatoyo Hamano for 4,800 shares and Tadashi Fujiki for 2,400 shares. The company will incur issue costs of ¥5,000,000 in the transaction. The company will receive net proceeds of ¥219,171,200. The company will raise funds through third-party allotment. The transaction is expected to close on December 11, 2020. The company’s board of directors has approved the transaction.
Abalance Corporation, formerly Realcom Inc., is mainly engaged in software license sales, system construction, and the distribution and sale of construction machinery,as well as green energy related business. The Company operates in three business segment. The Information Technology (IT) segment is involved in the introduction of core product Knowledge Market to its new customers, as well as the sale of licenses, the provision of system integration, and operation and maintenance businesses. The Construction Equipment Sale segment is involved in the trading of construction machinery in domestic market and to overseas markets. The Green Energy segment is involved in the trading of solar panels and related products, power plant construction and solar power generation.
ABALANCE CORPORATION 
