Takeyama Foundry Co.,Ltd. announced that it has signed a capital alliance agreement with new investor Chuo Malleable Iron Co., Ltd. (NSE:5607) for the private placement of 55,000,000 shares at a price of ¥10 per share for gross proceeds of ¥550,000,000 representing 89.87% stake on February 8, 2019. The transaction has been approved by the board of directors of the investor. The company will issue securities through third party allotment. The payment date of the transaction is April 1, 2019. Post the transaction, the company will become a consolidated subsidiary of the investor. As part of the transaction, the investor will pay approximately ¥28,000,000 as the advisory expenses.