Movable Trade Networks Ltd announced a private placement of 645 common shares at ¥310,000 per share with new investor, Dai-Ichi Cutter Kogyo k.k. for gross proceeds of ¥199,950,000 on June 16, 2014. The investor will acquire 50.20% stake in the company through this transaction. The shares will be issued through third party allocation.

On the same date, the board of directors of the investor approved the transaction. The registered capital of the company will increase from ¥33,400,000 to ¥133,375,000 upon completion of the transaction. The company reported total assets of ¥271,000,000, net assets of ¥77,000,000, total revenue of ¥604,000,000, operating profit of ¥10,000,000, and net profit of ¥18,000,000 for the year ended December 31, 2013.

The payment date of the transaction is July 1, 2014.