Azearth Corporation (TSE:3161) announced a private placement of 150,000 shares at ¥421 per share for gross proceeds of ¥63,150,000 on December 11, 2013. The shares will be issued to Masahiro Sawada by way of third party allotment who will own a 2.46% stake in the company upon completion. The transaction was approved by the board of directors. The company will not incur any issuance expenses and expects to receive net proceeds of ¥63,150,000. The disposal date for the shares is February 4, 2014.

On February 4, 2014, Azearth Corporation closed the transaction.