Ashimori Industry Co., Ltd. (TSE:3526) announced a private placement of 3,900,000 treasury shares at a price of ¥132 per share with existing investor, The Japan Wool Textile Co., Ltd. for gross proceeds of ¥514,800,000 on March 7, 2014. The shares will be issued by third-party allotment. The investor will acquire 6.4% stake in the company through this transaction and hold 23.8% stake upon closing.

The investor currently holds 17.4% stake in the company. The company will receive net proceeds of ¥512,500,000 after estimated amount of various issue costs of ¥2,300,000. The board of the company approved the transaction.

The disposal date is March 24, 2014.