Ecomott Inc. (TSE:3987) announced a private placement of 500,000 common shares at an issue price of ¥1,263 per share for gross proceeds of ¥631,500,000 on January 15, 2019. The transaction will involve participation from new investor KDDI Corporation (TSE:9433). The company has signed agreement with the investor.

The transaction will take place through 3rd party allocation. After the transaction, KDDI Corporation (TSE:9433) will hold 21.07% stake in the company. The company will incur issue expense of ¥3,300,000 for registration-related expenses, etc., in the transaction.

The payment date is January 31, 2019. The transaction has been approved by the board of directors of the company.