IDEA International Co., Ltd. announced that it has received ¥607.57 million in funding from Kenkou Corporation, Inc.
September 25, 2013 at 12:00 am EDT
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IDEA International Co., Ltd. (JASDAQ:3140) announced a private placement of 1,457,000 shares at ¥417 per share with new investor, Kenkou Corporation, Inc. for gross proceeds of ¥607,569,000 on August 23, 2013. The investor will acquire 64.81% stake in the company through this transaction. The shares will be issued by third-party allocation. The net proceeds from the transaction will be ¥587,569,000, after deducting estimated expenditure for the issuance for ¥20,000,000, which includes financial advisor fee for ¥14,000,000, attorney fee for ¥3,000,000, registration expenses for ¥2,500,000, and other expenses for¥500,000. The transaction has been approved by the board of the investor. The payment date is until September 25, 2013.
On September 25, 2013, IDEA International Co., Ltd. closed the transaction. The investor has acquired 66.25% stake in the company through this transaction.
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. 
