FRONTEO, Inc. (TSE:2158) announced a private placement of 1,044,300 shares at a price of ¥766 per share for gross proceeds of ¥799,933,800 on November 16, 2020. The transaction will include participation from Focus Systems Corporation (TSE:4662) for 652,700 shares and Gakken Holdings Co., Ltd. (TSE:9470) for 391,600 shares. The transaction is expected to close on December 2, 2020.

The company will issue securities through third-party allotment method. The securities will have a hold period of one year from date of allocation. The transaction was approved by the board of directors of the company.

The company will receive net funds of ¥791,933,800.