Iwatsu Electric Co., Ltd. announced a private placement of 4,900,000 new shares at a price of ¥758 per share for a gross proceeds ¥3,714,200,000. The transaction included participation from new investor, Ai Holdings Corporation (TSE:3076). The shares will be allocated to through third-party allocation.

The Transaction is approved by Board of directors. The transaction is expected to close on December 18, 2023.