Toyo Business Engineering Corporation (TSE:4828) announced a private placement of 300,000 common shares at a price of ¥1,830 per share for gross proceeds of ¥549,000,000 on August 27, 2018. The transaction will involve participation from existing investor Zuken Inc. (TSE:6947) through third-party allocation. Pursuant to the transaction, the investor's stake in the company will increase from 15.11% to 19.45%.

The transaction is expected to close on September 11, 2018. The company expects issue expenses of ¥500,000 for the preparation of documents such as securities registration statement, and such others.