IDEA International Co., Ltd. announced that it has received ¥150.01 million in funding from Kenkou Corporation, Inc. and JAPANGLASsc co.,ltd.
July 31, 2014 at 12:00 am EDT
Share
IDEA International Co., Ltd. (JASDAQ:3140) announced a private placement of 282,500 common shares at a price of ¥531 per share for gross proceeds of ¥150,007,500 on July 14, 2014. The shares will be issued by 3rd party allocation. The transaction will include participation from existing investors, Kenkou corporation, Inc. and JAPANGLASsc co.,ltd. Kenkou corporation, Inc. will purchase 130,100 shares for ¥69,083,100 and JAPANGLASsc co.,ltd. will purchase 152,400 shares for ¥80,924,400. JAPANGLASsc co.,ltd. will increase its stake in the company to 9.89% from 5.35% by acquiring 4.54% stake through this transaction. The stake of Kenkou corporation, Inc. will decrease from 71.09% to 68.75% upon closing. The company will receive net proceeds of ¥148,282,500 after deducting issuance expenses of ¥1,725,000 including attorney fees of ¥600,000, registration fees of ¥525,000, and other expenses of ¥600,000. The payment date is July 31, 2014. The transaction has been approved at the board of directors' meeting of the company.
On July 31, 2014, IDEA International Co., Ltd. closed the transaction. The capital of the company has increased from ¥100,000,000 to ¥175,003,750 and number of shares has increased from 2,737,000 to 3,019,500.
Bruno Inc, formerly Idea International Co Ltd, plans, develops, and sells original products related to living-related lifestyle products such as interior goods, travel goods, and cosmetics, sells select brand products and others. For original brand products, the Company plans and develops products in collaboration with designers, and for select brand products, the Company purchases products from domestic and overseas brand holders. Sales channels mainly include wholesale to specialty stores such as interior shops, sales to corporations that carry out sales promotion, sales through distributors, retail by directly managed stores, and Internet sales through in-house electronic commerce sites. The directly managed stores provides products in five styles.
BRUNO,INC. 
