Akebono Brake Industry Co., Ltd. announced that it expects to receive ¥20 billion in funding from Japan Industrial Solutions, Ltd.
July 17, 2019
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Akebono Brake Industry Co., Ltd. (TSE:7238) announced a private placement of 20,000 A shares at a price of ¥1,000,000 per share for gross proceeds of ¥20,000,000,000 on July 18, 2019. The transaction will include participation from Japan Industrial Solutions Fund II, a fund managed by Japan Industrial Solutions, Ltd. The securities are issued through third party allotment method. The transaction is expected to close between September 30, 2019 to December 31, 2019. The company will pay ¥70,000,000 as issuance expenses including registration license tax, for net proceeds of ¥19,930,000,000 in the transaction.
AKEBONO BRAKE INDUSTRY CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of brakes for automotive, industrial equipment and railway vehicles, as well as the research and development business and the logistics services business. The Company operates through six regional segments. The Company is engaged in the production of disc brakes, disc pads, drum brakes, shoe assemblies, brake linings, industrial equipment brakes, railway vehicles brakes, corner modules, rotors, master cylinders and other products. The Company operates in Japan, North America, Europe, China, Thailand and Indonesia.
AKEBONO BRAKE INDUSTRY CO., LTD. 
